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Larry Robertson, Realtors®, Serving S. California Since 1977

Larry Robertson, Broker, Realtor®, SRES®, SFR®, I have been a Real Estate Broker since 1977, I have also been a member of the NAR (National Association of Realtors®), CAR (California Association of Realtors®), the Inland Valley Association of Realtors® (MLS) since 1977 and a Member of the MRMLS (Multi Region Multiple Listing Service), Covering the State of California.

I can do more representing you and your property, than most Real Estate Offices. Your most important consideration in choosing a Real Estate Broker, is to find one with Experience, Ethics and above all Honesty. Don’t deal or trust anyone offering less.

Why should you have Larry Robertson represent you?

1) I’m a Real Estate Broker not just a Real Estate Sales Person, meaning you have the person who can make the correct decisions from the start.

2) I will seek the Highest Sales Price (Not just an acceptable sales price), remembering that the Sales Price must be justified to the Lender’s Appraiser, with Comparable Sales, of similar properties.

3) Experience in your City, I know what to expect with the Sales Contract, Termite, Home Inspection, Required, Mandated and Requested Disclosures.

4) Selling your home can be traumatic or at least nerve racking with so many uncertainties and the myriad of expected, required, requested and mandated disclosures and with the high emphasis on Pre-Sale Home Inspections here in the most consumer oriented state of California. The Courts have also held that a novice defense is not an adequate defense for not complying with State mandates concerning disclosures. This is why you absolutely need an Experienced, Ethical Real Estate Broker. I have fulfilled these requirements as a Real Estate Broker since 1977.

5) I personally answer the phone calls about your property. Usually at most offices, the phone calls are answered by the Salesperson on Floor Duty. Most of the time they have never seen your property, and can not answer questions from other Real Estate Offices. I can personally answer all those questions about your property from other Agents, Lenders or Appraisers.

6) Last, but certainly not least, 30 Years of Proven Experience, Ethics and Reliable Real Estate Service.

Please Check Back For More Topics Like These:

We will be discussing: Selling Your Home, Buying A Home, Short Sales, Facing Foreclosure, FICO Scores, Down Payments, Buying VA, Pricing Your Home, Buying Short Sales, Buying REO’s, Buying Foreclosures, What Are Closing Costs, How Do You Choose A Realtor®, What Is Pre-Qualified, What Is Pre-Approval, What Are Those Dumb Initials After Your Name and Many More Topics.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

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HOMEBUYING PROCESS (STEP BY STEP)

AS PREVIOUSLY STATED MANY TIMES, FIND AN ETHICAL HONEST REAL ESTATE BROKER.

FIND AN HONEST LENDER AND GET PREAPPROVED.

CHOOSE YOUR HOME AND MAKE AN OFFER.

IF OFFER ACCEPTED, OPEN ESCROW.

HAVE A HOME INSPECTION.

LENDER WILL SCHEDULE AN APPRAISAL.

NEGOTIATE REPAIRS IF NECESSARY.

SIGN LOAN DOCUMENTS.

FINAL WALK THROUGH INSPECTION (5 DAYS PRIOR).

THE LOAN FUNDS.

THE DEED IS RECORDED (IT’S ALL YOURS).

This is the crux of the buying process, your real estate person handles most of the scary items. The foregoing takes from 30 to 45 days in escrow (depending on the kind of financing you have).

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

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HOME SELLING PROCESS (STEP BY STEP)

FIND AN HONEST ETHICAL REAL ESTATE BROKER.

HAVE YOUR REAL ESTATE PERSON DO A MARKET ANALYSIS OF YOUR PROPERTY.

DETERMINE THE BEST PRICE TO SELL YOUR HOME.

DO A LISTING AGREEMENT.

PROPERTY IS LISTED ON THE MLS®.

WHEN AN OFFER IS RECEIVED ACCEPT OR COUNTER PRICE AND TERMS (EXTREMELY IMPORTANT).

OFFER (PURCHASE AGREEMENT) AND COUNTER ARE SIGNED BY BOTH BUYER AND SELLER.

OPEN ESCROW.

BUYER GETS A HOME INSPECTION.

BUYER’S LENDER REQUESTS APPRAISAL.

BUYER MAY REQUEST REPAIRS.

GIVE THE BUYER THE MYRIAD OF DISCLOSURES.

ORDER TERMITE INSPECTION.

BUYER HAS FINAL WALK-THRU, ABOUT 5 DAYS PRIOR TO CLOSING ESCROW.

BUYER SIGNS LOAN DOCS.

LOAN FUNDS.

DEED IS RECORDED, YOU SOLD YOUR HOME.

Obviously, this is a capsulated version of the process. There are lots of negotiations, disclosures, escrow instructions, special requests from escrow, title, buyer, termite, lender (maybe), appraiser, inspectors (actually I could go on). This is why you absolutely need that great ethical real estate broker, who can make it a lot less painful and distressful.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

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SHORT SALE Considerations…

I will first give you a simple definition of a SHORT SALE. The simplest description would be: “You owe more on your home, than what it is worth.” In other words, you owe $300,000 on your home, however it is only worth $175,000. This example you owe $125,000 more than what it is worth. You are SHORT ($125,000) on your payoff. So, you would need a SHORT SALE to sell your home.

First, you must determine if you are even possibly eligible for a SHORT SALE? Let’s begin with the bad news. Just because you owe more than what your home is worth (referred to as “Upside down”) it is not a reason for a SHORT SALE; the loss of value or equity is not considered a “hardship” (a reason for a Short Sale).

Hardship – No Hardship

Lenders may consider a SHORT SALE for homeowners who have experienced any of the following:

  • Job Loss
  • Business Failure
  • Illness and Medical Costs
  • Divorce or Death of a Spouse
  • Natural Disaster

If the Homeowner/Seller has liquid assets, they may have to contribute to the deficiency.

Some wonder if a Real Estate License Required to Represent the Parties to a Short

Sale?

The simple answer is YES, with some extremely narrow and limited exceptions and exemptions.

A real estate broker license (or a real estate salesperson license where that person is working under the supervision of his or her broker) is required under section 10131 (d) of the California Business and Professions Code (B&P Code) where a person, in a representative capacity on behalf of another, “negotiates loans…or performs services for borrowers or lenders …in connection with loans secured directly or collaterally by liens on real property…” for or in expectation of compensation, “regardless of the form or time of payment”.

In addition, under section 10131 (a) of the B&P Code, a real estate broker license (or salesperson license with appropriate supervision by the broker of record) is required of any person who, as a representative of another, “Sells or offers to sell, buys or offers to buy, solicits prospective sellers or purchasers of, solicits or obtains listings of, or negotiates the purchase, sale or exchange of real property…”

Criminal Penalties for Those Who Participate in Unlicensed Activities. Those who engage in short sale transactions, including the related “negotiations”, and who are unlicensed (and do not have the benefit of an exception/exemption), are in violation of California law. The penalties include fines and/or imprisonment under section 10139 of the B&P Code.

Further, if you are considering engaging in short sale transactions, you should fully educate yourself about the mechanics of the process and the related legal and ethical issues, and work only with legitimate professionals.

Finally, if you become aware of information about fraudulent short sale activity, please contact the DRE’s Enforcement section in Sacramento or at the office closest to you, or via the Internet at DRE Complaints. In addition, you may want to contact the California Attorney General’s Office, the U.S. Department of Housing and Urban Development, and the Federal Bureau of Investigation.

You Can E-Mail Me Any Real Estate Question, I Am Always Willing To Answer Or Help With Your Questions, Problems Or Concerns.

larry@robertsonrealtor.com or Call: 909.983.2892

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What about the Down Payment?

A common question and misunderstood aspect of the real estate transaction is Down Payment. Standard down payments range from zero for a Veteran to 20% for a typical conventional loan and everything in-between. A major difference, is that the loans with less than 20% down have PMI (Private Mortgage Insurance), that traditionally runs 7/10 of one percent of the loan amount per year. To translate: A 200k loan at 1% would be $2,000 x 7/10 of that divided by 12 would be $116.00 a month. This private MI (Mortgage Insurance) enables lenders to loan to homebuyers without having to put 20% down (It protects the lenders from loss). One additional item on MI, FHA requires 1.5% of the loan amount, is added to the closing costs.
The typical down payment for the first time home buyer is 3–10% of the sales price.
The foregoing is a great reason to have a good honest Realtor® and a honest lender. It will take the anxiety and guesswork out of home buying or selling. A good Realtor® and Lender can guide you each step of the way towards home ownership or successful sale of your home.

If I can answer any additional questions about down payments or any other topic, or help you get Pre–Approved, give me a call or e–mail:

larry@robertsonrealtor.com or Call: 909.983.2892

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