All Forum Posts by: Ranjit Sandhu

@Nupur Kohli I’m from Rocklin and it will be little hard to find something in the range if $500-$550k which will generate $2800/month rent. You can find more into highs 500 in Roseville areas. You can find in Lincoln Antelope Citrus Heights areas for your price range but then rent won’t be that high for your price range. Let me know if I can assist you. 

Yes I can help you. I sold one in Lincoln recently and my investor had same issue. One of my insurance was able to help them. Message me I will send you his info. I have to dig in my contacts to get his info. 

Quote from @Khushbu Magiya:

Hi there!! 

We are looking for property managers in Roseville CA area to manage our single family house. 

Thanks

Khushbu 

 Hello Khushbu

Look for RNB property management. They are pretty good. 

Thanks,

Ranjit

@Ven Reddy yes you can rent both separate as the entrance is totally separate but how about utilities. I’m from that area and know about those floor plans. All the best. Can be room mates and that’s how it’s gonna work or totally 2 separate tenants. 

Quote from @Peter Walther:

Quote from @Tom Gimer:

@Ranjit Sandhu How much $ is involved will weigh on the litigation decision but with a material non-disclosure it might turn out to be the right course. Although a lawsuit is certainly not a slam dunk... the buyer had notice of the PACE issue prior to closing.

@Peter Walther I read the fact pattern as the PACE exception appeared on preliminary title commitment. It sounds like what happened is escrow didn't "miss it" ... they assumed it was related to the solar panels. So apparently they didn't address it (and obviously neither did the buyer). If it turns out to be an assessment related to some other energy efficient improvement that doesn't mean it was missed.

Thinking about it over lunch, I realized the buyer had signed an assumption of the solar lease agreement.  Since a PACE loan is for the purchase of equipment, there wouldn't be a lease involved and therefore it would be a stretch to confuse the two, though not out of the realm of possibility.

Buyer assumed solar lease and even escrow officer kept saying after closing that buyer assumed the solar lease. She did not know that PACE lien was for sunroom not solar. I have the email proof from her and she attached the solar lease agreement signed by buyer and seller. Seller no where mentioned about sunroom loan except it was in prelim which everyone missed even lender missed it too or they didn't care. It's a mess.

Quote from @Tom Gimer:

@Ranjit Sandhu How much $ is involved will weigh on the litigation decision but with a material non-disclosure it might turn out to be the right course. Although a lawsuit is certainly not a slam dunk... the buyer had notice of the PACE issue prior to closing.

@Peter Walther I read the fact pattern as the PACE exception appeared on preliminary title commitment. It sounds like what happened is escrow didn't "miss it" ... they assumed it was related to the solar panels. So apparently they didn't address it (and obviously neither did the buyer). If it turns out to be an assessment related to some other energy efficient improvement that doesn't mean it was missed.

 PACE loan is for $52k.

Quote from @Peter Walther:

Quote from @Ranjit Sandhu:

Quote from @Tom Gimer:

@Peter Walther Pretty sure the fact pattern stated the PACE was a special exception on the title commitment. 

I was referring to Damages in the context of lawsuit against the seller. 

If title are not going to do anything then buyer suing seller because seller failed to dis lose in SPQ because in California it is required. Seller marked NO in SPQ section where it asked if seller has any PACE loan. 

Buyer filed a title claim and waiting on that. If they decline then they will go after seller.

The term "title company" is ambiguous in that it can refer to the settlement agent, escrow agent, policy issuing agent, or the title underwriter.  If your client received an Owner's Title Policy that does not have exception for the PACE lien, I would submit a claim in writing to the title insurer and see what their response is.  In the meantime, have you or your client made demand on the Seller?

Quote from @Tom Gimer:

@Peter Walther Pretty sure the fact pattern stated the PACE was a special exception on the title commitment. 

I was referring to Damages in the context of lawsuit against the seller. 

If title are not going to do anything then buyer suing seller because seller failed to dis lose in SPQ because in California it is required. Seller marked NO in SPQ section where it asked if seller has any PACE loan. 

@Jolly Singh I just closed a deal where my buyers assumed @3.375% vs today's market rate around 7-8% Look for those assumable deals there are few available in Roseville area.

Hello lawyers in Northern California! Closed deal (SFR) couple months back and I was representing a buyer. Everyone missed PACE lien which had a link on pre-lim report. Escrow officer missed it as well lender missed it too. Seller did not disclose that he took loan when he built something in the property. When buyer received property tax bill last month he noticed it was big amount under Mello roos. When contacted escrow/title company even after closing escrow officer kept saying it was for solar, even though new owner assumed lease for solar, so it was not for solar. Buyer contacted high up title company and they declined and stated because new owner signed the pre-lim nothing they can do. The last resort is to sue seller because seller failed to disclose on SPQ/TDS. But before suing seller new owner filked a title claim let's see how it goes. Any advise?