Answers by Alexander Diordyuk

Closing costs are the upfront fees paid at loan closing typically a couple % of your purchase price. Here is how you handle or cover them: Review Your Loan Estimate: Your lender must send this within 3 days of application, itemizing every single cost. Ask for Seller Concessions: Negotiate for the seller to pay a portion of your closing costs. Use Lender Credits: Accept a slightly higher interest rate in exchange for the lender paying your fees. Apply for Assistance: Use state or local down payment assistance programs offering grants for closing costs. Shop Services: You can shop around for title and escrow providers to lower costs.

A main road location can lower resale value by 5% to 15% because it shrinks your buyer pool, but smart prep offsets the location: Block Noise: Install dual-pane windows and thick insulated drapes in front rooms. Add Privacy: Plant tall, dense evergreen hedges or put up a solid front fence. Create Ambience: Add an outdoor water feature and play soft background music during open houses. Price Right: Competitive pricing from day one attracts value-seeking buyers.

For a first rental property: Choose a Condo if you want lower entry costs and a hands-off exterior managed by an HOA. Watch out for rental caps and surprise fee hikes. Choose a Single-Family Home if you want stronger long-term appreciation, no HOA interference, and longer-term tenants who stay put.

Typically if it was a condition of their offer, and it was in writing, and both parties agreed via signature, you would be on the hook for the replacement. If you are asking before or after the closing, have your agent review the documents and what items are on the repair request so there are no other surprises. If it was not in writing or agreed to by both parties, you are not bound to replace the furnace. Did you sign an agreement or repair addendum promising to replace it?

Honestly, I wish there were an easy answer to this question. The reality is, each broker is different, however the bottom line is it must be mutually agreed upon in writing between you and the broker. In most cases, its very straight forward and most agents would rather preserve their relationship with the client, thus agreeing. If you plan to use somebody else, just be honest with them.

You can hire an attorney to review paperwork, but they typically bill by the hour and won't do the boots-on-the-ground work a buyer’s agent handles, like pulling market comps, scheduling home inspections, or writing up daily contract addendums. In Georgia, a closing attorney handles the final paperwork by law anyway, though their role is to facilitate the transaction rather than advocate for you. Regarding commission, you can negotiate seller-paid closing credits into your contract whether you use an agent or an attorney. However, an experienced agent usually pays for themselves by guiding your strategy, protecting your earnest money, and negotiating repairs. Here in Sacramento, the two are not mutually exclusive. Often times we are able to obtain a credit in addition to buyer-broker compensation. Though you should be aware, a dollar amount in lieu of a brokers compensation can only go towards closing costs, you're not getting a check for any leftover amounts.

In my personal experience, you can typically boil down a property to three 'general' criteria. If all cannot be met, you may see that DOM climb. 1. Location. Is the area very rural? Is it on too much or too little land? Is it close to a main road or freeway? You've heard it everywhere, but location, location, location. Keep in mind that just because theres acreage, obviously doesn't mean it wont sell, but maybe that lifestyle isn't for everyone, so it takes the right buyer. 2. Accessibility. How easy is it to show the property? Are time blocks made to prevent agents from showing the home? Are the time blocks at unrealistic times like "Mon-Thurs before 5pm only." Hard to sell a house if people can't see it. 3. Price. What is the condition of the property? Was it maintained well? How does it show? Is the price per square foot higher than any comp in the last year? The reality is, if Location and Accessibility and not the issue, it comes down to price.

Commissions are not fixed by law and are negotiable. Here in Sacramento, Clever did a survey which saw listing agents collect an average of 2.57%. Because nobody charges that exact percent say we round to 2.5% which equals $13,625. This is just to the listing agents brokerage. Keep in mind this is a gross number. Any broker splits, marketing, E&O fees, transaction fees, taxes, etc, will ultimately deduct your gross. In todays world, buyers sign a buyer broker agreement which states what the buyers broker charges for services they offer. In this survey, Clever found this fee to average 2.51%. Again, you will never see an agent who says they charge to that exact number, so assume the closest to be 2.5%. If you are asking as a potential seller, data says average is around 5% and keep in mind who you interview, the services they provide, and if you feel secure they will get the job done. If you're asking as a future agent, expect 50-75% net of your gross number, factoring in any brokerage splits, insurance, marketing, transaction fees, etc.

Yes, your documents are right, your permanent rate is locked at 4.75%. A 2-1 buydown doesn’t change your actual loan terms. Instead, the builder prepaid part of your first two years' payments out of a side account. Once that temporary pool is empty, your payment simply steps up to your permanent 4.75% fixed rate. Nothing else changes, and you don't need to refinance. Whoever warned you the rate could change was likely confusing your fixed loan with an Adjustable-Rate Mortgage (ARM).

For self-employed borrowers, Non-QM underwriters care far more about actual cash flow than taxable paper income. They bypass tax returns entirely, using 12 to 24 months of bank statements (personal or business) to calculate a realistic expense ratio and average monthly deposits. Your credit score carries significant weight here. Unlike agency loans with rigid rate sheets, Non-QM interest rates scale aggressively based on your score and down payment—often swinging 1% to 2% higher for lower tiers. Keeping a clean credit profile, strong reserves, and consistent monthly business deposits will secure your best terms on a new build. Last year I represented a buyer in a downtown Fresno condo. They needed to provide a higher down payment, have 6 months of reserves, and the rate was a tad higher.

It definitely sounds workable on paper, but when you dive into the complexities it's a whole can of worms. A private lien and quick refi has serious legal and fraud risk as opposed to zero risk using lender approved gift documentation. Also, you will be paying fees multiple times. Title and escrow fees on the original purchase and then loan origination fees on the following 'transaction.' Seems counter intuitive to the whole idea of saving money. I practiced in Fresno for 5 years, still have a place there now, and the market isn't that competitive that having a conventional offer is getting beat out left and right. Definitely consult a real estate attorney if you are seriously considering Option A.

Medical emergencies are one of the most common reasons people file for bankruptcy. Underwriters look at medical bankruptcies as a "one-off" life event, not a pattern of poor financial management. Because your discharge was a little over a year ago, the clock is actively running, and you are already past the hardest part. A key part is if you filed Chapter 7 or Chapter 13 bankruptcy. Standard for government loans like FHA and VA, is 2 years. Can be shortened to 12 months if you document a catastrophic, non-recurring event (such as a medical hardship). Standard for conventional loans is 4 years. 2 years if documenting extenuating circumstances. For Chapter 13 FHA / VA Loans: You don't always have to wait until discharge! You can actually qualify while still in the repayment plan once you’ve completed 12 months of on-time plan payments and receive approval from the bankruptcy court/trustee. If fully discharged, there is no waiting period. Conventional Loans: 2 years from the discharge date (or 4 years if the case was dismissed). Best, Alex

It can be a make or break for sure. I just had a deal in Folsom, CA that actually called out "ember from up the hill could come down." Mind you this is a suburban subdivision thats been around for over 20 years. I imagine Redding is on the more strict side of the scale. Check quotes and area coverages. Remember, it is a contingency, so if you don't find anything or it changes your qualification, you won't need to go through with the purchase and risk your earnest money if done within the agreed upon time period.

I have a team in Sacramento, and in Fresno, and to tell you the truth, it can make a difference depending on the area. In your more competitive price ranges, it is the difference between qualifying, and not. Technically at all price ranges, the difference can be hundreds to maybe even a thousand dollars per month depending on the rate. The reality most agents are not talking about is the range. Of course if we compare a 2020 rate to today, that's significant, but we're not. Throughout the last 3 years, the span has been mostly between 6-7%. More of your timing will be affected by listing at a bad time seasonally as opposed to rate-wise. In my experience, Spring and Summer is best, most shoppers, easy weather, kids out of school, etc. Winter is hardest, cold days, gets dark too fast, holidays, kids in school, etc. If you price your home right, you will get what its worth because we still have a housing shortage that buyers jump on correctly priced homes. (Again, in my area in my experience).

Don’t panic sell. A data center won't destroy your value, but its footprint matters. If it’s a few miles away, you’re safe, and local home values usually rise from new municipal taxes funding schools and infrastructure. If it's directly adjacent, visual eye-sores or constant cooling fan hum can turn away future buyers. Most agents overreact to rumor. Instead, check two things at city hall: the precise zoning buffer distance and the site's noise mitigation plan. If it isn't literally in your backyard, holding on usually yields far better returns than panic listing today. I have also seen those videos that record them having a constant high pitched noise, but not sure if those are fake. If they're real, I would assume it will be a huge factor in the price.

Here is what I’d advise if I were your representation: Counter your cash buyer: Ask for a 45-day closing or a free 30-day seller rent-back via a C.A.R. Seller in Possession (SIP) form. Cash buyers are flexible, don't lose them over a short leaseback. Protect the off-market deal: Put the replacement home under contract immediately using C.A.R. Form SPRP (Seller's Purchase of Replacement Property). This gives the seller a strict 21–30 day deadline to find a home. Set a bridge plan: Prepare a temporary furnished rental or PODS storage in case their replacement search lags behind your cash buyer’s closing date.

In most cases, yes, you will need to pay off the $25,000 balance at closing using your home sale proceeds. Because it’s a solar loan, a UCC-1 fixture lien is usually attached to your property. Most buyer mortgage lenders require this lien cleared before closing. While a buyer can technically assume a loan, most refuse the extra monthly debt. Selling the house with the panels fully paid off is far simpler and adds immediate equity to attract buyers.

1. How it works when buying/selling:You must formally transfer the solar lease to the new owner. The solar company runs a credit check on the buyer; once approved, the buyer signs a transfer agreement assuming the monthly payments. If a buyer refuses or fails credit verification, the seller must pay off the lease balance at closing. 2. Impact on mortgage qualification:Yes, it counts against you. Lenders classify a solar lease or Power Purchase Agreement (PPA) as a contractual debt obligation, similar to an auto loan or personal loan. The monthly payment is added directly to your back-end Debt-to-Income (DTI) ratio, which can lower the maximum home price you qualify for.

Yes, you absolutely should go, it’s your future home. Most agents wrongly treat inspections like a quick walk-through for taking wall measurements. Sellers push back because having a buyer hanging around for three hours measuring rooms feels intrusive and disrupts the inspector’s focus. Here’s the agent trick: don't attend the whole thing. Let the inspector work solo for two hours to spot real defects. Show up for just the last 30 minutes. The inspector will walk you through their exact findings, and you can take your measurements while the seller stays out of your hair.

That 38-item inspection list feels overwhelming, but it is completely normal. General inspectors are trained to log everything—from a broken window latch to worn weather stripping, creating a mountain of minor maintenance notes that look scarier than they are. Ignore the cosmetic items and focus exclusively on two things: safety hazards and the air conditioner. Since the major structural components checked out, you are not buying a money pit. Have a licensed HVAC technician evaluate the AC unit to see if it needs a simple repair or full replacement. Instead of asking the seller to fix everything, request a financial credit at closing for the major items (like the AC). That way, you control the repairs yourself after closing without letting minor cosmetic gripes blow up your deal. Go forward with confidence, just negotiate smartly.

You can walk into a suit store and choose to pull your own sizes, measure your own inseam, and hem your own trousers. Sure, you might get into a pair of pants, but a tailor makes sure it actually fits, handles the alterations, and keeps you from walking out looking unpolished. You can represent yourself in court. You can study the law and submit your own paperwork, but hiring an attorney means having an expert who knows the exact legal landmines, manages the court schedule, and protects your interests. You can buy a gym membership and figure out your own workout routines, form, and nutrition on YouTube. But a trainer builds the program specifically for your goals, keeps you from injuring yourself, and makes sure you reach the finish line far faster. You can remodel a kitchen without a contractor. You could pull your own permits, manage the plumber, source the tile, and schedule the electrician yourself, or you hire a pro to orchestrate the entire process and handle the headaches when things go wrong. As a local broker associate in the Sacramento metro area, I tell buyers that navigating contracts, lender conditions, title searches, and local disclosures on your own is doable, but it leaves money and protection on the table. Having dedicated representation simply ensures you aren't doing the heavy lifting alone.

Honestly? I would focus on how the home feels to you. You can test the little things yourself, but ultimately your instinct is usually best. Are you close to the schools? Walking distance to attractions/parks/stores? Neighborhood feel is good? Home has a nice sized yard? Nobody is expecting you to look at the foundation especially if you don't know what to look for. Check for obvious signs of good maintenance, smells, home layout, location, etc. When you are in contract, let professionals do their job and if anything serious comes up, ask for a credit, reduction, or back out.

Apparently "exposure" is everyones favorite word. I think every agent should do open houses, especially their listings first or second weekend on market. Not every agent does an open house with sign in sheets and flyers. Matter of fact, I knew a top agent who said if you do that you can just leave the flyer, sign in sheet, and walk out for 3 hours. What do the visitors need you for? You gave them all the information. That being said, its personal preference. I've gotten leads simply bringing a pen and paper, and some from sign in sheets. What matters is that your agent actually ENGAGE with people walking in, and gets good feedback for you. Most agents are hosting open houses for leads, not to sell a house. It's something we say because its a service we offer.

Most agents rush to list your home the second things get tough. Take a breath: banks hate owning houses, so they are actually incentivized to work with you. Call your lender’s hardship department today. Ask to lower your payments or spread missed ones out over time. You usually have 4 to 12 months before any auction. You don’t need an expensive lawyer or an agent right now—just honesty with your bank. Only hire an agent later if you decide to sell the house cleanly before an auction.

You might be, but it depends what you signed, and for how long. In the agents defense, they were not wrong that we need to have a form signed to represent you. How they explained it to you may have been an issue. Here in California, a Buyer-Broker Agreement can be up to 90 days with a separate continuation period. (LLCs can be up to 2 years.) What I would do is ask for a test run. You can specify homes you would like to see, and only sign off on them showing those homes (Property Showing Agreement). Alternatively, you can just sign a shorter period. See however many homes in a week. If there's pushback, suggest the agent write in a continuation period to protect them for homes they showed you.