All Forum Posts by: Andy Li

Hi John, Thanks for your reply! =)

In California, does the Exemption still protect the owner's equity for the Exemption amount?

Example

If homestead exemption is 600K and back taxes/fees is 20K,

Is the minimum bid at tax sale auction 620K?
Or is minimum bid 20K and the owner forfeits their 600K exemption?

Hi, the Homestead Exemption does NOT stop a tax sale. 

But does the Exemption still protect the owner's equity for the Exemption amount?  

Example

If homestead exemption is 100K and back taxes/fees is 20K, 

Is the minimum bid at tax sale auction 120K? 
Or is minimum bid 20K and the owner forfeits their 100K exemption?

Are below all the costs to buy and flip tax deed auctioned properties in CA?

Should I work backward from ARV, factor in a profit, factor all the expenses to come up with a max bid at auction?

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Getting Property At Tax Auction

- transfer tax

- my bid amount (pay off unpaid property taxes and fees)

- buyer's premium at auction

Reselling Property

- paying off other govt liens not removed by tax sale

- selling cost (commission, escrow, title, transfer taxes, etc)

- holding costs 

- quiet title action cost (to clean title)

- repairs/maintenance/cleaning 

- eviction (of previous owner or occupants)

In California, do owners get their homestead exemption if their primary residence will be sold at a tax deed sale for unpaid property taxes?

Do proceeds of sale first pay off property tax liens then pay off homeowner's homestead exemption, in that order?

Do proceeds of sale solely pay off property tax liens?   Not any other govt liens?

Thanks!

Our 2 co-tenants are great. They pay rent on time (despite pandemic). They clean up after themselves. They remove weeds. They are peaceful and mostly quiet. But, smoke a little.

But, their guests overstay, smoke profusely and litter.

Guests are tenant's father, mother and their 2 dogs.

Rental agreement allows guests a max 2 week stay every 6 months. They stay 2 months every 4-6 months.

Guests abuse guest policy and cause trouble.

ie cigarette butts everywhere, other litter like soda cans & packing materials, trash can overflows.

Their initial visit with 1 dog has grown to subsequent visits with 2 dogs. 

Dogs that bark and run indoors with heavy wear and tear.

Guest is heavy smoker and tenant is light smoker despite application saying tenants are NON-smoking.

Their smoke gets into open doors and windows and adjacent unit occupants breathes second hand smoke.

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ACTION

I've spoken a few times with tenants about guest overstay, dumping, smoking but they still overstay, dump and smoke.

Tenants say guests are family and have a hard time complying with overstay and cigarette dumping.

Tenants don't want their guests to become tenants and formally apply, credit check with increased rent and security deposit.

Like a hotel, can I require mandatory check-in and check-out to enforce the 14 day max stay?

Can I require credit card pre-authorization?

And bill $50 per day for guest overstay?

And bill $25 per no-smoking violation?

Can I increase security deposit (up to max 2 months rent) for the extended wear and tear from their guests and 2 dogs?

Can I charge credit card for overstay in addition to the $1950 for rent?

There's no rent control but California Tenant Protection Act of 2019 caps rent increases.

What if guests bring 3, 4 or more dogs. Can I limit dogs to 2?

Even for Emotional Support dogs?

Thanks in advance!