All Forum Posts by: Caroline Gerardo

Hard money and private money loans are NOT an all cash offer. It is fraud to send an offer as all cash when it is loans. 

They want your bank statement to show the cash. 

An all cash offer is usually combined with a short 7-day close.

If I'm the seller and you give me an all cash offer with 30 days I wonder 

Land trust will keep you from being able to refinance conventional. 

The short sale surely has a restriction from transferring the deed as a sale.

You may be able (read every page from the bank/seller) to change to a Living Trust which

is a family transfer deed NOT a sale deed. Don't just handwrite the quitclaim and file it,

get an expert to help you. It is easy to get the legal description incorrect and cloud the title

There are fines. It is considered littering. Some cities issue expensive citations. 

$500000 single family is not in Orange County CA.  Starting point inland is $650000 - coastal a million.  

Irvine is generally 20% more expensive than any city because the schools are blue ribbon and High Schools highly rated. If you don't have children of school age, perhaps not useful to pay more per square foot.

As to comment on the ethnicity of Northwood - with trade war coming I expect we will see less Chinese buyers as they may be limited, sanctioned, or stopped from buying- only time will tell

Get your CPA to send you the instructions in writing and follow to the exact letter of the law or be ready to come up with whatever your tax bracket is in cash 30 -40% cash in April of the next year. This is not tax or legal advice, just don't rely on a forum to answer a complex issue

He will lien the property. He will wait to get paid until you sell or refinance, You need his release

I assume the buyer will take you to small claims court. They can show any emails or written conversations, inspections, expert opinions. You will probably lose as the court will see you as "investor" and them as the victims.  A property in Florida without airconditioning when you appear in court in August is going to sound god awful. I have not seen your contracts, and what is in writing matters. Home warranty isn't free, they will also review the documents and could fight you as well.  

Small down payment, perhaps not strong lender pre-approval or unknown lender, bidding low or slow can be some of the many reasons. You need to make yourselves appear better on paper- what I mean is a deal that can close fast without trouble. Perhaps supply pre-approval letter, a bank statement with account numbers blanked out, close in 15 days, have your agent make the offer in person?  Have you looked into grant programs to increase the down payment?

I suggest applying for a pre-approval before you purchase. How is your credit? What is your net income on your IRS taxes past two years? ....