Q: What do I do to get started on buying a home?

A: Working with an experienced buyer’s agent, that has knowledge of today’s market is an important first step. It is better to work with one Realtor when searching and buying a home. All real estate agents place their properties in the MLS Multiple listings system and one Realtor will have access to all the potential properties you are looking for, listing agents who work for the seller cooperate with buyers agents. There are many ins and outs to today’s real estate environment, so you want to establish a relationship with… and pick just one Realtor. That Realtor has to be honest and straightforward with you and help you- not only find the right home, but also help you figure out what to offer on that home.

In addition, your Realtor will aid you in navigating through the whole home buying process, such as finding the best loan program to suit your financial needs and assist you in finding a good home inspector and assist in what to look for on a final walk-through, all this expertise results in having a successful close of escrow.

Q: Can I see the inside if properties?

A: Call me. As your County Properties buyer’s agent I will represent you and make an appointment to see the inside. You can drive bye, please do not disturb the occupants.

Q: How do I buy a government property on List #1?

A: 1. 3.5%  Down Payment – available to owner occupant purchaser(s) using FHA financing to purchase their HUD home. These homes have a deadline when bids are due, call ASAP if you see a home your interested in.

2. $1,000 sales allowance to be paid at closing to owner occupant purchaser(s) on properties purchased with a full price offer. (Type of financing used is not a consideration for this incentive.) 3. On the VA owned homes sell on a daily basis. VA loan financing for Veteran and Non Veteran are eligible, Down Payment 0% Down Payment — if Owner Occupied, 5% Down Payment — if Investment/Non owner occupied, 20% Down Payment – processing will be streamlined. Call me, as your County Properties buyer’s agent I will represent you and make an appointment to see the inside.

Q: How do I purchase a property?

A: As your Real Estate agent I will verify with your lender that you are pre-qualified. After showing you the property, if you are interested in purchasing, we will do the paper work needed to make an offer. It will take approximately 30 minutes to do all the paperwork.

Q: How do I know what I can afford and what kind of financing is available?

A: We will arrange for a loan officer to contact you from a reputable bank. The loan officer will ask you a few basic questions on the phone and let you know what price range and payments you can qualify for. Getting started: 1. Know your price range & payments by being pre-approved with a reputable lender 2. Set up a search to start shopping for your home or investment. 3. Negotiate and close escrow. Each one of these steps will take sometime so we recommend that you first start with the lender and your pre-approval. If you’re ready to start the process please read the following: When you find a good deal in this market, properties are receiving multiple offers. Having a letter of pre-approval from your lender makes your offer stand out as a strong offer. Due to the current financial market, mortgage brokers are having difficulty approving loans because of the strict guidelines being put in place. We recommend using one of our preferred lenders. You can get your pre-approval started with a 15 minute phone application. Our company has implemented a system that goes directly to the loan officers contact information. Click here for Financing & Mortgage info.

Q: How much money do I need to buy a house?

A: Typically, a deposit of $2,000.00 or more depending on the situation. Also, depending on what type of loan you are obtaining you will need 3% of the sales price for closing costs. Closing costs can sometimes be negotiable with the seller as a credit to you as the buyer. Down payment varies with each property, loan and buyer. All information needs to be reviewed with a lender prior to purchasing.

Q: Can I move into the property when my offer gets accepted?

A: The day escrow closes you can to move in, unless otherwise negotiated. Our agent will notify you when escrow closes. Typically 30-45 days from the day escrow opens.

Q: What is escrow?

A: Escrow is a 3rd neutral party that coordinates collects and distributes paperwork and funds. Escrow opens after offer has been accepted. Escrow does not help with any negotiating or any advice. We as your agent will help you and manage all the facets during escrow.

Q: How long does it take for a property to be foreclosed on?

A: Late on payments causes:
1. Day 1 Notice of Default is recorded by the bank
2. Day 14 Notice of Default must be mailed to borrower 10 days after recording.
3. Day 91 Notice of Trustee’s Sale is recorded, published and mailed. (Lenders usually file 31 days before the sale because of an IRS notice requirement).
4. Day 115: Deadline to cure default (5 business days before Trustee’s sale). Exception to this timeline is the temporary moratorium that some banks are voluntarily putting into place.
5. Day 122: Trustee’s sale (Deadline to pay off loan is anytime before Trustee’s sale begins). Trustee’s sale is a foreclosure sale: the forced sale of a property at public auction (usually the court house steps) to satisfy the debt incurred from the substantially delinquent payments. The buyers at the court auction are required to have cashiers check for the full amount of the sales price, usually without inspection of the property,as is, inside unseen, high risk, usually the price goes thru a bidding up process toward market value.
6. After the court auction, if there are no bids, due to the loan being higher than the market value of the home, thr majority of foreclosures go back to the bank, if it does not sell.
7. When it goes to the bank, it will take an average of 1-2 months before it gets listed with a real estate and than you will see it listed on our website at County Properties.
8. Contact me, as your Realtor (R) I will help you to find the home your looking for at a good price.

Q: How do I stop a Foreclosure and what is a Short Sale?

A: The follow is information on San Diego and Riverside Counties Short Sale and or stopping foreclosure.

ARE YOU BEHIND IN YOUR MORTGAGE PAYMENTS?
ARE YOU’RE MORTGAGE DEBTS MORE THEN YOUR HOME IS WORTH?
HAS FORECLOSURE BEEN THREATENED OR STARTED?

If you answered YES to any of these Questions, this Important Web Bulletin may be the Answer for You!

We’re NOT Lender’s trying to make you another mortgage loan… We’re NOT Attorney’s requiring a retainer fee. We’re San Diego and Riverside County’s premier Short Sale Team, and there is a much better Solution available to you, other then Foreclosure… it’s called a Short Sale. A Short Sale can remove your home mortgage debt problems, salvage your credit, and get the Mortgage Collection Agents off your Back.

Due to the poor local real estate market here in San Diego and Riverside Counties, and the nationwide Mortgage loan crisis, many San Diego and Riverside County homeowners find themselves unable to keep up with their increased mortgage payments, and many times the mortgage loan debt is more then the home is worth… in other words – No Equity left in the property.

Property values have dropped throughout southern California, and many alternative loan programs have been terminated. So, most mortgage bankers are unable to neither modify the loan or reduce the loan payments, nor re-finance the home. This has left many home owners trapped in a home with no equity, and mortgage payments that they can no longer afford. Unfortunately, many homeowners at this point give up, for they think there is nothing they can do to stop the pending Foreclosure. Well, there IS something one can do that’s far better then a Foreclosure… a Short Sale.

Today in California, 50% of all Mortgage Loan Foreclosure solutions
with Banks are resolved through the Short Sale method.

Simply put, a Short Sale is a situation in which the total mortgage debt on ones home is more then the net sales price of that home. The Mortgage Banker(s) have to agree to write off a portion of their outstanding debt in order for the property to be sold. This is not an easy process, for the Mortgage Banker(s) treat their outstanding debt with upmost priority, and therefore they must be convinced through tough negotiations and market data analysis that it is a little bit better for them to reduce their outstanding loan balance on the property, then it is for them to proceed all the way to the end of the Foreclosure.

You may ask yourself, “Why should I care, for I have no more equity left in my house?”… Well, the fact is there are several important reasons why a Short Sale is far better for you compared to Foreclosure… Here’s why:

1.) SHORTER PERIOD OF DAMAGED CREDIT: A Foreclosure will stay on your credit report for 7 years, but a bank Short Sale will typically only last about 3 to 4 years on your credit report.  There are  Credit Repair Associations that can often get the Short Sale removed much sooner then that.

2.) BETTER FICO SCORE: A Foreclosure more negatively affects your FICO score which is the all important credit rating number mortgage lenders use to determine if they will loan money to you or not. Many mortgage experts believe that a Foreclosure will drop your FICO score by 100 to 200 points more then a Short Sale does. If you want to borrower money in the next 5 to 7 years for a car, boat, or a home, then the Short Sale will make a big improvement.

3.) DIGNIFIED SOLUTION: In a Short Sale you decide to sell your home to another potential home buyer – just like your neighbors have over the years. It is a relatively pleasant and dignified resolution to a very tough situation. On the other hand, after the Foreclosure sale, a Bank representative comes by the home to lock up the doors and windows and change the locks, and if you are still there, they contact the local Sheriff for eviction. Then the home sits vacant for several months as the grass gets brown and the trash and the papers collect in the yard. The agent for the bank usually slaps ‘Bank Foreclosure’ signs all over the property while the house sits empty waiting for a sale.

4.) EASIER TO FIND NEW HOME: If you are like most people in this situation, you will be looking for a home to rent after this issue is resolved. It is easier to find a nicer home to rent if you conduct a Short Sale versus a Foreclosure. Most property managers obtain a credit report. A Short Sale whereby you cooperated with your bank to resolve the situation is much better then a Foreclosure on your credit report. Often times, this will allow you to rent a home in a better location with a lower rent payment.

The longer you wait, the harder it is for us to help.

The County Properties Sale Team of experts consists of  a Real Estate & Internet Marketing expert, a Listing and Sales expert, legal bank negotiators and an Real Estate attorney fee service. Our team experience goes back to the mid 1990’s when southern California experienced its last major real estate down turn in the local real estate market. Best of all our real estate services are FREE to you, they will be negotiated with the bank.

We have helped numerous homeowners in San Diego and Riverside counties and we can help you. Don’t trust your home Short Sale with just any Realtor!! You may only have one shot at this, and there is a lot riding on the successful negotiations with your Bank and subsequent sale of your Home. We’re an experienced Short Sale team… We’ve been working in the real estate industry with Short Sales, Foreclosure and Bank Owned properties since 1995. … We’ve negotiated with many Banks and Savings & Loans officers to reduce loan balances or postpone foreclosures, or to re-structure loans on the behalf of the home owner… In short, we’ve been involved in every facet of the Shot Sale and/or Foreclosure process and we’re here to help you with your situation.

Time is of the Essence. You MUST act fast to salvage your credit.

If Foreclosure proceedings have started on your home, then you have only 3 months and 3 weeks before your home is sold at the public Foreclosure Auction on the courthouse steps. Now our team of experts can often get the foreclosure to be delayed, only if you call us ASAP. Please don’t hesitate, or sit in hope that your financial fortunes will significantly change in the next 2 months.

Please contact us today.