Ask Warren Archives

Top 10 Escrow and Closing Questions & Answers

Escrow, pending sale“Closing” or  “escrow” is listed as one of the top ten problem areas that occurs in a real estate transaction.  It is probably the least understood, and most feared, aspect in a property purchase. Misunderstandings about closing costs can result in hundreds or even thousands of dollars of needless expenses, and put seemingly solid deals at risk. This final step to your purchasing a home or property can go smoothly if you take a few precautions beforehand. Knowing what questions to ask and reviewing all documents well in advance of the closing day will prepare you for a hassle-free and smooth closing.

Click Here for an article on getting answers to common closing and escrow questions to help make your home buying process go smoothly and perhaps to save you money in the process.

 

HUD Homes: 9 Reasons to Consider One Real Estate’s Best Deals

Hud Homes - CaliforniaWe recently explored one of the most overlooked, yet crucial, parts of getting one’s offer accepted: Visit the property in person. But when time is short and our market is this competitive, what is the best way to prioritize where to focus your efforts as a buyer?

Easy: Start with a HUD home.
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House Flipping Hits High — But Why?

Flipping HousesA post today at Business Insider explains how California’s house-flipping pastime has taken on unprecedented dimensions:

The rate of flipping activity in California hit an all-time high in February and remains well above pre-recession levels. In May, Southern California’s rate hit 5.9%, the Bay Area notched 4.1% and the state averaged 5.3%. The boom peak for all three was about 4.3%, reached in January 2005.

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How Do I Get My Offer Accepted? (Hint: Have You Seen the Property?)

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A usual day at the office involves a lot of phone calls, a lot of e-mails and a lot of questions. A LOT of questions. Sometimes I’m doing the asking, but often times, I’m attempting to provide the answers. Buyers and their agents often want to know about the best way to get an offer accepted, the intricacies of HUD financing, escrow policies, timetables and much more.

I thought I’d start using this space to discuss some of these issues. These matters aren’t unique to my office, either. They arise anywhere and everywhere property is sold. And in our hypercompetitive market, few if any questions come up more frequently than…
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