|Posted by Peter Karami on September 16, 2014 at 9:20 PM||comments (0)|
According to California Real Estate magazine, issued September 2015, the RPA will be revised. This is a good news for many Real Estate Agents. Finally, the CAR (California Association of Realtors) has taken the step to revise the residential purchase agreement provided on Zipforms. The current RPA was adapted in 1955 and since that time there are so many changes in the industry therefore it seemed missing some necessary terms and having some unnecessary terms. In my opinion, most terms on the...Read Full Post »
|Posted by Real Estate Master on June 22, 2014 at 2:40 AM||comments (0)|
Economic recovery is playing a huge role in the Real Estate market and prices of homes are still climbing up, giving home owners hope to cash out on their investment with a positive return. Home buyers are trying to buy property as fast as they can. So, they can also grow their money during this jump in prices on Real Estate, but is this another " buble" roling on us? "The return of the bubble? Thanks to the economic recovery, the Westside tech boom, the end of the foreclosure wave and the re...Read Full Post »
|Posted by Real Estate Master on June 4, 2014 at 2:40 PM||comments (0)|
We all know how important is to be clever about the ways we can creat a good investement. Owning and Investment properties can bring you joy and headache both on a case by case base. So, let's talk about doing property management and if you should do it yourself or hire a professional to do it for you.
It is believed that hiring a professional property management company may be a smart move one can make if own investment properties. One important factor is that property managment compa...Read Full Post »
|Posted by Peter Karami on May 21, 2014 at 3:05 AM||comments (0)|
This is a million dollar question. So, let’s start from the beginning. An individual who has been approved for a loan usually starts by looking for a home that will match the budget and mach the buyer’s criteria. Note that the start up may become an ordeal if the buyer does not have enough information about the current market condition. Therefore, the first step usually is to start looking for a Realtor. This can be done by a referral from family or a friend who makes the prospect...Read Full Post »
|Posted by Peter Karami on April 21, 2014 at 11:55 AM||comments (0)|
There are several differences between obtaining a home loan from banks than mortgage brokers. Mortgage brokers are "middle-man" for bank. They run credit and pre-qualify borrower/s, then they submit the loan package to the banks that provide best and lowest interest rates. In addition to that each bank enforces their own guidelines for loan approval after the Fannin mae and Freddie mac. Meaning, there is a possibility that a loan will be approved with one bank and denied with another bank. Wh...Read Full Post »
|Posted by Peter Karami on March 17, 2013 at 1:45 PM||comments (0)|
Condo Home Owner Association fee which commonly referred as HOA fee or HOD is the monthly fee that a condo home owner must pay every month to a company that is responsible for maintaining the condo complex. This monthly fee is usually charged towards the fire insurance, water, and maintaining common area of the complex. The HOA company may charge some extra fees and add earth-quick, and flood insurance. It is essential for a condo buyer to study the bylaw and clearly understands the services ...Read Full Post »
|Posted by Peter Karami on November 7, 2012 at 2:50 PM||comments (0)|
Last two transactions landed in escrow have led me to write about the appraisal report and what if the report shows a lower suggested fair market value.
Apprisal is a part of all real estate transactions that a buyer must obtain loan from a bank. In some events the report shows property value slightly higher or lower than the negotiated purchase agreement. In the case that report shows higher value for the property, the bank will be happy to lend money for the amount requested and the b...Read Full Post »
|Posted by Peter Karami on October 23, 2012 at 6:35 PM||comments (0)|
If you or your selected real estate agent using the standard CAR residential purchase agreement to make an offer on a residential property then you should know that there is a form titled “wood destroying pest inspection and allocation of cost addendum”. This form usually goes with the residential purchase agreement in addition to disclosure regarding agency relationship. It is important to note in this form in the line 2.A requires parties to select who will pay for the inspectio...Read Full Post »
|Posted by Peter Karami on August 7, 2012 at 7:05 PM||comments (0)|
A few years back, I was representing a well respected client who was buying a bank owned home (foreclosure) in cash. I was following up with the transaction in every step until the last step which was sending the closing funds to the escrow. The escrow was supposed to close two days after that day.
I received a phone call requesting my client to wire the closing funds to escrow. Thus, I contacted my client and ask her to do so. She went to her bank and the banker told her that she will...Read Full Post »
|Posted by Peter Karami on August 6, 2012 at 6:05 PM||comments (0)|
I was showing property last week to a client of mine. They asked me to go with them and see a house that they would like to consider for purchase with a possibility of making an offer. After I saw the house, they told me that they have seen this house the week before when there was an open-house. The agent who had hosted the open-house offered her service to them, but my client denied her request and said that they already have a broker who will represent them. Yes, that was correct. I was th...Read Full Post »