All Forum Posts by: Bryan Zuetel

@Shawn Regnier, yes, there are many rules promulgated and enforced by the California Department of Real Estate regarding the name for your real estate corporation, if you intend for the corporation to hold a California real estate license. However, you used the word agent in describing your license. Are you obtaining a salesperson (agent) or broker real estate license? You will need a broker-officer of the S Corporation (DRE will only license S corporations, not LLC's), and there are many naming rules. You can visit the DRE's corporation license page here for more info:

http://www.dre.ca.gov/licensees/Corporation.html

@Michael W., you have a potential service problem with the 30 day notice that wasn't mailed.  The tenant's claim that he has not been properly served is likely to be rejected by the court, since he now knows about the notice, will certainly know about the notice by the time it reaches court, and still hasn't paid the rent.  Many of the answers to your other questions (in this commercial context) will depend on the terms of the lease.

@James Park, Irvine remains a very desirable and therefore, appreciating city in Orange County.  The city is well managed and attracts many local and international buyers keeping prices up for now and the foreseeable future.

@Crystal Tynan, I gather from some of your posts that you are a California real estate agent.  You would generally have two avenues to pursue.  First, look at your independent contractor/agent agreement with your broker to determine if there is any dispute resolution forum available through the broker for intra-office disputes.  Second, check with your local Realtor board for their procuring cause arbitration procedures.  I am a part of the Orange County Association of Realtors Professional Standards Committee and hear arbitrations and disputes like this all the time.

@Gary Moore, you might want to explore the idea of a reverse mortgage.  You would need to talk with a reverse mortgage specialist to see if this is the right option, particularly given the primary residence requirement for reverse mortgages.  If you are intent on keeping the property, you may potentially do best (from a tax perspective) for the property to pass to the three daughters after Mom's death, when the three daughters will receive a stepped-up tax basis and may be able to sell the property with minimal taxes.  Also, given the amount at stake here, you would do well to have a consultation with an estate attorney to make the best plans for Mom.

@Alejandro Lee, the FTB's definition of "doing business" in California (therefore requiring the minimum $800 registration of the out of state LLC) is broad. The link below leads to FTB examples (page 4) of how the FTB defines "doing business." Basically, you are "doing business" in California under the FTB's interpretation if you direct a management company from California, use a California address for tax filings, and/or maintain a California bank account. If you can avoid fitting into those examples or into the broad definition of "doing business," maybe you could have an Ohio LLC while being a California resident and avoid California taxes. Also, if your LLC doesn't own anything, there might not be any "doing business" that would require the registration in California.

https://www.ftb.ca.gov/forms/misc/3556.pdf 

@Jessica Muto, I have a form of the letter of intent that I've developed for my purposes. I would suggest that you research the idea of the LOI and look at the available forms here on BP. In thinking about this, you can also call or email the listing agent and suggest that you would offer $xxxxx and see the reaction. If the listing agent likes your offer, you could suggest that the listing agent write up the offer for you to sign.

@Daniel Liu, yes, it can be useful to bring a couple witness reports, but don't expect much face time or consideration by the judge.  Yes, if you have a claim against the tenant (additional unpaid rent, unreasonable damage), you should file the defendant claim.  In small claims court, you will not be permitted to have an attorney represent you.  Usually (and unfortunately in California), you would do better to just return the security deposit if the tenant will agree to a settlement.

@Michael Lipsey, you obviously need a real estate attorney who is licensed in whatever state you're looking.  Beyond that, the attorney specialization will depend on the type of property and issue.  If you're looking at single family homes, you might not even need an attorney.  If you're using a Realtor for a simple transaction, the Realtor with form contracts might be sufficient.  If you're looking at large multifamily properties or office buildings or contaminated land or development, you will need an attorney with certain specializations.

@Jessica Muto, there is a way to do this, but not too many Realtors will understand or be familiar with it (which might not help much on MLS listed properties). You can utilize a 1-2 page, non-binding letter of intent that specifies the key negotiation points (location, price, dates, contingencies) and specifies the contractual form to be used (likely the C.A.R. Residential Purchase Agreement). You can do this on your own, without involving a Realtor for the offers.

Remember that if a property is listed on the MLS, the seller has agreed to pay the seller's agent a commission and the seller's agent (by virtue of other agreements with the Realtor association and the MLS) has agreed to pay the buyer's agent a certain split of that commission. Thus, if you're going direct to the seller's agent, you should be able to negotiate a lower purchase price, potentially via a lower commission for the seller's agent (since no buyer's agent would be involved). However, you would not have the representation of an agent (or the seller's agent might try to act as a dual agent, which is probably worse).