From the category archives:

Terms & Definitions

Avoid Property Tax Penalties from Filling out Escrow Forms Wrong

The Preliminary Change of Ownership Form….Did You Know You Can Be Charged for Incorrectly Filling Out This Simple Form?
The Preliminary Change of Ownership Report (or PCOR as it is known once you are in escrow) is defined as “A form that is to be completed by Buyer (transferee) prior to the transfer of subject [...]

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New Good Faith Estimate – Definitely a Step in the Right Direction

by Scott Schang December 21, 2009 Buyers Beware!

I tend to be a bit cynical when it comes to expecting the bad apples to be good apples just because new rules require them to, but in this case, I think the new Good Faith Estimate is a step in the right direction.
In January, I will have a live class explaining the details of [...]

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Buyers Beware: I Suggest You Give Up Your Rights

by Scott Schang November 24, 2009 Buyers Beware!

This is a “Multiple Offer Disclosure” that a home buyer received yesterday by way of email.
I’m not completely sure as of this point whether or not some of the information in this disclosure has been approved by the seller or the seller’s attorneys. I suspect not.
It almost just seems to me that the listing agent [...]

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Slide Show: A Complete Guide to Hiring a Lender and Real Estate Agent – Finding the Best Deals

by Scott Schang November 17, 2009 Slide Shows

Too often, as a home buyer, you “end up” with a Lender or real estate agent.
Because you’re not giving your lender or agent a check you feel obligated to work with them, even though they are not looking out for you and your families best interest.
We show you what a Lender and Agent SHOULD be [...]

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Slide Show: A UPDATED Guide to Buying Foreclosures and Short Sales – Shadow Inventory Discussion

by Scott Schang November 17, 2009 Market Updates

Updated insight into buying foreclosures and short sales.
Understand what a short sale is and why it’s such an unpredictable way to buy.
Foreclosures typically require the buyer to compromise or give up many of the rights provided in the purchase contract – learn what to watch out for and how to protect yourself so you don’t [...]

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Slide Show: The When, How & What Guide to Buying a Home in Today’s Real Estate Market

by Scott Schang November 16, 2009 Market Updates

When? When is the best time to buy – you might be surprised at the answer!
How? How to identify the right time to buy for you.
What? What you need to know about looking for homes on the internet and hiring an agent and a lender.
This is a great “homebuyer 101″ class that [...]

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Slide Show: A Complete Guide to Credit, Qualifying & Completing a Loan Application

by Scott Schang November 16, 2009 Slide Shows

In this class we discuss what lenders are looking at when you apply for a home loan.
Did you know that bad credit can result from not knowing how to build good credit? We talk about common myths about your credit report in this informative class as well.
What is required by the lender when you apply [...]

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Slide Show: 30 Days to Close – What Happens After Your Offer is Accepted

by Scott Schang November 16, 2009 Market Updates

Once your Purchase offer is accepted, that’s where the stress really starts to kick in!
We walk you through the people, the process and the timelines that you can expect once you get your offer accepted.
These are the slides from the online webinar, please feel free to contact us for questions or more information
30 Days to [...]

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Slide Show: The Condominium Conundrum

by Scott Schang November 16, 2009 Market Updates

Condominiums are becoming more difficult to find financing for. This class covers changes in FHA spot approvals and challenges with delinquent HOA dues, occupancy and HOA litigation challenges that will prevent financing.
FHA Condo guidelines change in November, 2009 to align closer with existing Fannie Mae restrictions.
These are the slides from the online webinar, please [...]

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How to Buy Short Sale and Foreclosure Homes in California

by Scott Schang November 10, 2009 Market Updates

Short Sales (Short Pay) – I have this conversation on a daily basis with potential home buyers looking for a great deal. Usually it’s a call or an email that goes something like this: “Can this be true? There must be something really wrong with this property because this seems like it’s priced way too [...]