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foreclosed: Another Moratorium...2/1/10 - 90-Day Flip Rule is lifted! - 01/17/10 07:46 PM
While it seems that yet another moratorium to celebrate is in the works with the 90-day flip rule.  The 90-Day Flip rule is lifted for at least 1 year starting February 1, 2010. HOWEVER, keep in mind that it is not completely all free from stipulations. 
What does this mean to buyers?
it simply means that buyers that are seeking to buy a property with a FHA loan financing can do so without having to wait the 90-day from the date of the last purchase of that property in order to purchase it. Example:  Property was purchased December 15, 2009 - … (1 comments)

foreclosed: BUYER: Settlement Procedures Act & AB 957 - Buyer's Choice Act - 11/14/09 12:05 PM
As I posted previously.... Buyer's now get a choice, thanks to Real Estate Settlement Procedures Act and AB 957 Buyer's Choice Act.
When you are purchasing foreclosed properties, you should be getting a form with the wording listed below or something similar.  This should be signed along with the offer and presented to the bank for their signature.
This is not something the banks are all tickled about, but it is now the law.  They are not suppose to hold buyer's choice of escrow against them when making a decision on the offer presented.  It's the law!!! So if you do … (6 comments)

foreclosed: Tenants should get CASH FOR KEYS for short sales - don't you think? - 05/29/09 05:24 AM
I am trying to figure out how we can get the banks to offer to pay Cash for Keys in the case of a short sale approval.  Especially if the occupants to the property is a tenant.  In the case where the owner get up side down on their mortgage (which is a large % of the homeowners these days) -- and the occupants are tenants -- wouldn't it be a good jesture to offer the tenants a cash for keys amount to move out by a certain date or at least by the close of escrow date.
After all the … (4 comments)

foreclosed: As is simply means "as is" or is it that simple? - 04/11/09 12:51 AM
Agents, I just wonder if  you are explaining to your buyers what "as is" really mean or are  you letting them tell you how they are going to get it?
Offerrs come in with written notice on it that the buyer understands what "as is" is and they are buying this property in as is condition.  They sometimes bid high and then come up with a laundry list of "repairs" and ask for a credit for the repairs!  And as we know most buyer inspectors do not miss reporting anything... and sometimes will over state the damages because they are working … (10 comments)

 
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Rosemary Brooks-The Mother & Daughter Realty Team

Stockton, CA

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EMBARCADERO Investments - 866-543-0461

Address: 6777 Embarcadero Drive , Ste. 1, Stockton, CA, 95219

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EMBARCADERO INVESTMENTS - the Mother and Daughter Realty Team. A Realtist. We take the extra steps to ensure our clients receive the utmost care! Call 866-543-0461 We represent home buyers and sellers as their exclusive agents in the Central Valley, Bay Area and nearby counties. Your Real Estate Professionals. ~~~~~~~~~~~~~~~~~
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