All Forum Posts by: Marcus Peterson

I purchased a property a couple years ago from the seller that I knew personally.  We decided not to use agents on either side, but paid for a transaction coordinator to set up escrow and handle the paperwork (mandatory disclosures, etc.).  Hired the inspector myself and my lender insisted on handling the title search and appraisal.  It went fairly smoothly.  So, if you feel comfortable with the seller, it can go well. 

Hi all,

I recently passed my Salesperson exam in California, and was looking at different brokerages.  I liked my conversation with Realty One Group (Corona office) and wondered if anyone had any recent experience with that group that they could share. Other discussions I have seen on this forum are from several years ago.

Thank you in advance!

Marcus

 Hi Chris,

Property prices in Big Bear still seem to be highly inflated, and estimated revenues (from Awning, for example) barely seem to cover the expenses, except for really small places.  I'd be interested to know if you have seen deals in the area.

As other have said, the seller sets the commission total and commission split between buyer and seller agents.  Are you suggesting that you would ask the seller to give a lower split to your agent and give you the difference in a lower sales price?  I'm not sure why any seller would do that since it doesn't affect their bottom line and might make buyers' agents less likely to want to show their property.  

An alternative would be to ask your agent to leave you a credit in escrow so that part of the commission comes to you.  I've seen some agents do that.  

 Their website says the 100% financing is for primary residence only - 
Home Mortgage Services | Red River Credit Union (rrcu.com)

No PMI though - that's pretty awesome.

 Leona, do you hang your license with Pellego?  I am interested in hearing from someone who does what the experience is like.

Thanks!

Marcus

@Juan Zamora

You never know how a seller will respond until you make the offer!  Some sellers will consider any offer.  Some will not consider anything below asking.  Don't be worried if the seller is "offended" - you have to make the offer that is right for you.  Who knows; the seller might only be posturing and isn't even really offended.  

Has anyone worked with Pellego?  I am very interested in checking them out, since they charge only a small monthly fee plus a small fee per transaction (no commission split) and they claim to be investor friendly.  I'll be taking the CA agent test soon so have started looking at brokers. 

I've owned a home for 12 years that was my primary residence.  In 2019, I bought another house that is now my primary residence, though I did not move in immediately after I bought it - it took a few months.  I am now planning to sell the first house.  Will I need to somehow prove when exactly I moved to show that the first house was my primary residence for two of the past five years?  Or is it based on having lived there at all during 2019?  Meaning, as long as I sell by December, I am OK?

Thanks in advance!

Is anyone on here an expert on Primary Residence Exception to capital gains taxes, and willing to have a quick conversation about how it is applied?  

Thanks in advance!