CoronaHomes4You What should I expect in today’s Real Estate market? GIVE ME A CALL (951) 545 5735 Let’s set up a meeting convenient to your schedule to discuss what to expect for the Real Estate market in and around Corona, Riverside and Lake Elsinore areas.
Need to sell but are not sure what to do?..Let me set you up with a Short Sale Specialist.
I have experienced many of the reason why the publics view of real estate sales people is between that of an attorney and a used car salesman.
That is why this meeting is designed to ascertain your Real Estate needs, to answer your questions and make sure we can work together. There is no such thing as a dumb real estate question.
I will be pleased to go over all questions you have regarding the purchase or sale of Real Estate in the Corona, Riverside, Lake Elsinore and surrounding areas.
My goal is not to reach X number of transactions per year. My goal is to assist you with your Real Estate needs now and in the future and by doing so grow my business by earning your trusted referrals.
The best first time advice I have to give is simple…Find an experienced Realtor who makes the effort to earn your trust. Interview several. Find one you feel steps up to your needs and works with your personality. Just like shoes, Realtors are not all the same.
CoronaHomes4You Special Interest Notices
First Time Buyers?!!!
Begin Your Home Search without added sales pressures!!! Call today and set up a no obligation, no pressure meeting. I will be pleased to explain the home buying process, answer your questions. No commitments required! Let me show you information that is available without the pressure of a real estate agent looking over your shoulder.
Did you know most Realtors shy away from first time buyers? I enjoy the process. I only request your permission to take a picture of you the day I am able to give you the keys at your new front door. The smiles in the picture say it all.
Need a lender? Check out the ones listed below. They have a highly positive proven track level with our past clients. While it is important to consider the rate and points when choosing a loan, we can not equally stress the importance of working with a loan officer who will be available to answers your questions and work within your schedule. All of the lenders we pass along have passed our ridged test of customer service requirements.
Interesting Real Estate Fact! Even though the market has changed from a sellers market, if you are a buyer who is in need of financing to purchase a home, it is wise to have in your possession a letter from your lender of loan pre-approval. After all, if you were selling your Riverside or San Bernardino County home, which offer would you accept; the one with or without a letter of loan pre-approval?
Equally important reason to have is most REO or Short sales will not consider your offer in a multi-bid scenario without this approval. It is best to be prepared.
Interesting Real Estate Fact! (In most cases in Southern California) The Realtor solely representing the home buyer is compensated for the sale of a home from the proceeds received by the Seller. This should make you feel more at ease talking to your Exclusive Buyer's Realtor. After all, what could be better than an individual working exclusively on your behalf yet being paid from another source.
Interesting Real Estate Fact!
The typical closing costs a buyer will experience is around 3% of the Purchase Price of the home. Keep this in mind when discussing your options with a lender.
LendersThe following Loan Officers have a highly positive track records with our past clients. Please feel free to give them a call or wait until our meeting and I will be happy to assist in getting them in contact with you.
Direct Lender who specializes in FHA and VA loans
Richard Hegg
Regional Manager
Paramount Residential Mortgage Group, Inc.
Office (909) 948-2828
Cell (909) 224-3092
Here are brief descriptions of two different kinds of real estate sales we deal in daily
(Description)
Short Sale is a traditional sale in which the owner of the home is still the decision making party for entering into a contract with a perspective buyer. The sale however is bound to the lender(s) agreement with the terms contained within. Typically a short sale is performed when the seller is upside down on the property (owing more than it’s value) or perhaps has lost the ability to make payments due to a hardship(s).
REO (Real Estate Owned) are typically properties that have gone through the foreclosure process and have reverted back to the Lender / Bank.
(Disclosures)
Short Sale - If the owner has lived in the home mandated disclosures should be available to the buyer.
REO - Most mandated disclosures for a typical sale are not required. The reason is the Lender / Bank usually do not have any personal knowledge of the condition or prior use of property.
(SOLD AS IS)
Important point...”As Is” means pretty much the way it sounds.
Simply stated you are buying the home as is, where is, with all faults.
(FORMS)
Forms used for the sale of these types of property may vary greatly.
Short Sale - If you are using a Realtor, you most likely will be using forms made up and used by the California Association of Realtors.
When purchasing an REO, a majority of the time the buyer will find themselves required to sign and agree to Addendums written for the Lender / Bank by their perspective legal advisors. These forms may contain terms, conditions and time frames that vary greatly from what is found within CAR forms…Should these addendum(s) be confusing to you, it is advised to have legal representation of your choosing look them over and explain the impact they may have on the sale of the property.
(INSPECTIONS)
Both types of sales allow buyers to perform home inspections…However, typically REO addendums limit the time to shorter periods to have the inspections performed. Many addendums include a clause where the buyer forfeits their right to cancel the contract due to items found during an inspection if the time period specified for inspections has passed.
(REPAIRS)
Unfortunately due to the situation of sales both represent, the sellers may be reluctant or financially unable to perform items found during an inspection. Most Lenders / Banks performed repairs they were willing to accomplish before the property is listed for sale. Again “AS IS”.
(Time Period for acceptance)
With the large amount of REO and Short Sales presently on the market, this is the biggest difference. REOs will usually get an answer back to a perspective buyer in a quicker time frame. However Addendums may contain wording stating an offer is not a contract until all parties have signed. If a higher net offer comes in before you have a contract signed by the Lender/Bank, they still have the right to accept the higher offer. Many times acceptance/ start dates on an REO Addendum will reflect they begin before you have a signed contract by the Bank/Lender. This is another reason discussion with legal council of your choosing is advised.
Short Sales – Unfortunately the time frames to receive an answer with short sales can take a few weeks to extreme cases of a year, each depending upon the Lender(s) / Bank(s). It is advised to be patient. It is advised not to schedule a move until such time as your transaction is in escrow with all Lender/Bank approvals being in hand for the sale.
The material described above is not intended to be all inclusive details of every aspect of a sale. The information is also not representative of all the information required to pursue a real estate transaction.
At CoronaHomes4You we will make every effort to make available the information you need.
Please do not worry about suddenly receiving a barrage of junk mail from signing up for any our real estate services. We do not give or sell e-mail or mailing addresses to others. You may unsubscribe from our on-line services at any time.
Should you be in searching for a new home builders, please give us a call or shoot us an email with what you are looking for…We have many contacts with new home sales and would be pleased to check on any specials they may be running for the month. If you are interested in just a quick link to browse Check New Homes in Corona.
We also offer you a link to local news paper in the Corona area.
Filling your Real Estate needs is and should be as simple as this.
Remember at CoronaHomes4You.com No Pressure or Obligations!
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