If you are buying, or want to buy a short sale take note and be aware of these issues.

Sellers often seek short sale to avoid foreclosure as there are multiple benefits. One in particular is a home owner who successfully completes a short sale, may be eligible to purchase another home in as little as 24 months.

Property Description:

Great lower level condo for lease! This home has been newly updated with neutral paint, granite counter tops, laminate wood flooring, carpet in the bedrooms, tile flooring in wet areas, new toilets, fixtures, and more! Enjoy your privacy with the 2 master bedrooms with bathrooms, and walk in closets! Inside offers full size washer/dryer hook-ups, and the 2 car direct access garage means there is no more struggling to find parking. Call today to schedule your private showing!

Property Details:

• MLS #: F12007059
• Status: Rented
• Price: $1,500
• Living Sq. Ft.: 943
• Lot Size: N/A
• Pool/Spa: Yes
• Bedrooms: 2
• Bathrooms: 2
• Garage: 2 car
• HOA: Yes

Property Photos:

Property Location:

If you are consulting a Real Estate Agent for help you need to understand that we as Agents are unable to provide Tax and/or Legal Advise. It is very important for you to consult your CPA, and Attorney for Legal based questions. Regardless, one of the questions that continually arise are regarding property taxes. I received a question this week that I wanted to share with you and hopefully provide some insight: “I was told by someone that I don’t pay property taxes since we are trying to short sale the property. Is this true?”

While I cannot advise whether to pay/not to pay property taxes, my response to this question would be, During the short sale we ask the bank(s) to allocate funds for Property Taxes, and usually the bank clears them. However, we are unable to advise you not to pay your taxes, and you need to consult your Attorney to understand the ramifications if you decide not to pay. Nevertheless, if the bank forecloses on the property, property taxes would have to be cleared so it’s not unusual for them to allocate funds to pay them off through the short sale.

This would also be a good time to consult with a tax advisor and a RE/MAX Agent who specializes in your market. RE/MAX agents are trained in working with distressed properties, and we will be able to help you explore options over foreclosure. Truth-be-told, but lenders don’t want to foreclose. Foreclosure is more expensive for them, so often they’ll consider alternatives. Some of these options may keep you in your home:

Loan Modification
While only certain homeowners will be able to take advantage of this alternative, it is your best option because it keeps you in your home and may preserve your credit rating.

Foreclosure and Mortgage Terms you need to familiarize yourself with.

Deed in Lieu
A voluntary surrender of title to property in exchange for a release from all obligations under the mortgage. Banks don’t always agree to a Deed in Lieu.

Standard Short Sales & HAFA Short Sales
By far the most utilized foreclosure alternative. Many banks will allow a short sale. This is attractive for lenders because they lose less money than in a foreclosure. Also, short sales generally take less time than foreclosures, so the banks don’t have to carry the properties on their books as liabilities. It’s attractive for homeowners for many reasons, and you may be able to purchase a home in just a couple years.

Short sales are paperwork-intensive, and there are many, many details involved. If you’re considering this option, it’s critical to work with a trained real estate agent who knows all the steps required to successfully complete a short sale.

Working with David Rendall and Myself on your short sale has many benefit:

1) Together we work with Group One Legal who helps to negotiate with your bank(s) on your behalf to obtain approval on your short sale, hopefully with a full forbearance on the balance of the loan. THIS COSTS YOU NOTHING!

2 You have legal representation every step of the way. You will be educated on your rights, potential ramifications, and legal liabilities. We truly want to put our clients in the best situation, and after you understand any potential risks, you decide if you want to proceed with completing the short sale.

3) If and once written approval is received, you will have an Attorney at your side ready to discuss/review the confusing language on the Approval letter.

These services are much better than working with an Agent who employs Negotiator with no negotiating experience, no License, or Certification leaving them with no legal liability and may put you and your home at risk.

RE/MAX leads the real estate industry in agents who’ve completed the Certified Distressed Property Expert (CDPE) course or other specialized training. They understand the intricacies of these transactions, and they’ll be able to advise and counsel you every step of the way.

Keep in mind that no matter which option you choose, there may be tax and other financial consequences. You should consult with a tax advisor or legal expert.

Property Description:

STANDARD SALE…Valencia Westridge Beauty. Amazing end of the cu-de-sac lot with wrap around yard featuring pool,spa, outside fireplace, bbq,covered gazebo, and lush landscape. Inside features include downstairs master suite with large walk-in closet, separate tub/shower, and french doors leading to rear yard. Three large bedrooms up, two bedrooms have a jack and jill bath, other bedroom is a second master with walk-in closet and private bath. Kitchen has beautiful granite counters, double ovens, large cook top, and built-in microwave. Three car garage make it a must see.

Property Details:

• MLS #: F11141639
• Status: SOLD!
• Price: $690,000
• Living Sq. Ft.: 3,157
• Lot Size: 8,594 sq. ft.
• Pool/Spa: Yes
• View: Yes
• Bedrooms: 4
• Bathrooms: 4
• Garage: 3 car
• HOA: Yes

Property Photos:

Property Location:

As a member of David M. Rendall’s team at RE/MAX, you can be assured that when you are hiring Jerod, you are being serviced by an experienced, professional and savvy team that is committed to their clients’ satisfaction. David M. Rendall has been a practicing real estate agent/broker associate across many years and is a practicing attorney specializing in Real Estate Law. The resources at your disposal when you hire Jerod are invaluable when making a lifetime commitment to a home and a community.

Purchasing a home is the biggest decision a person will make in their lifetime. Having a REALTOR you can trust is integral to ensuring that your interests are represented thoroughly and ethically. . Whether you are buying or selling a home, Jerod Mayer will go above and beyond to make sure that your interests and needs are at the forefront of any deal.

My objective is to build a lifelong relationship with you and ensure complete satisfaction of my services.

Final approval is issued by the lender once the conditions mentioned in step 4 are received. The bank is confident the buyer is a good risk and we are approved to order loan documents. At this time your loan officer will submit final fees and loan terms to the lender. Loan documents are drawn at this time.

Step 6. (Funding and Closing)

Once the sellers and buyers have gone to closing and signed all the papers, including the Settlement Statement showing all the fees and loan amounts, this paperwork is submitted back to the lender. The lender will then double check everything was signed properly and give a final funding figure. This figure allows the funds from the lender to be released and the property is funded! The process is complete! ALMOST. You now own a loan but not a home. In most California counties title receives the money from the lender via a wire transfer. The following day the executed Grant Deed and Deed of Trust are recorded at the County Recorders Office. It is with this recording that you now officially own a home. The process is complete and you can now enjoy your home!!

Property Description:

Reduced Price!!! Luxury Estate. Features include: 5 Fireplaces w/Custom surrounds, Solid Core Doors, Distressed Wood Floors, Elegant Staircase w/lighting, Custom Window Coverings, Computer Station, Ceiling Fans, Upstairs Laundry, Painted Soffit, Stereo System~Indoor & Outdoor, “Smart System”, Extra Large Linen Storage, Gourmet/Chef’s Stainless Kitchen, Microwave, Double Monogram Ovens, Stainless Refrigerator, Cook top w/6 Burners and Grill, Granite Counter tops, Wine Refrigerator, Butler’s Pantry, Extra Pantry, Sweep/Suction Feature. Enormous Master Suite, Double Fireplace, Double Shower, Double Sinks, Spa Tub, Huge Walk-in Closet. Generous secondary bedrooms. Entertainer’s backyard w/Salt-Water Pool, Waterfall, Hardscaped for easy dining, built-in Bar B Que.

Property Details:

• MLS #: F11032654
• Status: SOLD!
• Price: $835,000.00
• Living Sq. Ft.: 4,681
• Lot Size: 25,858 sq. ft.
• Pool/Spa: Yes
• Bedrooms: 5
• Bathrooms: 6
• Garage: 3 car
• HOA: Yes

Property Photos:

Property Location:

Step 1. (Pre-Qualify with your Loan Officer)

Your first and most critical step is setting up an appointment to meet your loan officer. Whether your appointment is with a broker or representative of a direct lending institution, meeting your loan officer in person will give you an opportunity to assess his/her integrity and experience in person. At best it will create a lifetime relationship with a valuable professional you will be proud to call a friend.

Your meeting should consist of answering/confirming the following questions: Confirmation of qualifying income, credit score and debts, debt-to-income ratios, down payment capacity and last but not least, BUDGET! Regardless of what your scenario is on paper, the capacity to borrow money does not always equate to an ability to re-pay that money. Every borrower has a lifestyle that a home purchase will most likely have a dramatic impact on. Take this into account when determining your budget. Once you are comfortable with what you see, and have found your home, you will need to lock in your interest rate