All Forum Posts by: Karen Margrave

@Jasraj Singh Don't get discouraged. EVERYONE started somewhere. Start at the beginning and build your knowledge base. Just don't get ahead of yourself. Learn what you don't know (which is what you were trying to do on your post and that shows you're smart enough to know what you don't know) Don't get too far ahead of yourself, and you'll do great. Stay safe! 

@Jasraj Singh  Glad I could help. Real estate involves a lot of different subjects, and if you are unfamiliar with them, it can be confusing. If it's possible, I would suggest you take a class (probably can find online through a college) on Real Estate Principles and learn the basics. Once you understand how it all works, you will be able to move forward with more confidence and protect yourself. Good luck. 

@Jasraj Singh Nobody will pay you what is owed on the mortgage without getting a deed in return. You have a several different concepts jumbled up. It sounds like a mix between a contract of sale, all inclusive deed of trust, and a cash sale. But the answer to any of them is no, you can't do that.

If you find a buyer to purchase for more than you owe, you pay off the mortgage, closing costs, etc and keep anything left over.

@Frank Zondlo first off do any of the neighboring properties have problems with slippage? Do you know for certain the fix suggested will fix the problem? Will a geological engineer be testing soil as part of fix? It's not a cosmetic fix that's needed, its structural, and they can be expensive. In so cal there were several.lits in a very expensive neighborhood that the HOA had to buy back due to a problem like that, and it started with one house.

@Carl A. Seriously? There's nothing to consider. Listen to @Jay Hinrichs

Nobody has a clue what might be coming, hang on to whatever you can.

@Steven Weiss Call the building Dept or go online to look at their fee schedule. @Rafael Pozas builds ADUs in so cal.

@Tracy Munger my thought too. If they would do a pause across the board, the economy would start back fast.

@Adam Hoak what is your local market doing right now? The Fed is predicting the worst unemployment in history. The lady probably is on a fixed income and may not be able to afford more. Talk to her 1st. If she can't do it, are you ready to risk a long term vacancy?

It's been quite a roller coaster ride for us in CA, as I'm sure it is for everyone. With the Stay at Home order it has made showings in person very challenging. They recently declared (Saturday) that Realtors were considered "essential" as far as businesses being allowed to be opened, since we are critical to housing. Here in Redding, due to the homes destroyed by the wild fires, there's still people that haven't been able to get back into their homes, etc. so we have a big demand. 

I will say, the listing I took from a BP member, is in escrow. Buyers were able to get over to view it yesterday in person, with me having sellers leave all the lights on, me going beforehand to unlock front door (gloves of course) then Buyers agent met buyers there, had them put on gloves, wiped down door handle with sanitizing wipes, took buyers in one at a time and showed. Then they left, I went and locked up and texted sellers it was safe to go back home. Of course Buyers were instructed not to touch or open anything. Loan is VA and already locked in. Now inspections (they're deemed essential worker too)

We will get through this!! We just have to be creative, and diligent. 

@Deneuve B. I have an offer that just came in on a property owned by another BP member I have listed. I'm giving him discount on commissions of course. We had photos done right before Shelter in place order, and a video walkthrough by seller once we knew no in person showings were allowed.

Fingers crossed, lots of hurdles to cross with appraisers, inspectors, etc. gaining access.