What are the most common types or ways to take title to real property?
Joint Tenancy, Tenants in Common, Community Property, Tenancy in Partnership.

What are the differences between them; it is very confusing?
No real estate agent or agent is qualified or licensed to give you such advice. A short visit to an attorney is well worth-while if you own real property or intend to own in the future.

Does State Law (California Franchise Tax Board) say I, as a buyer, must keep some of the monies due the seller at the closing of my escrow? Are they kidding? How can I do this?
Lucky you, one of the many duties your escrow officer will perform for you is this task - for less than 50 bucks.
How much do they send to the State coffers?
A check totaling 3.33% of the sales price is deducted from the seller's proceeds.
As a seller, what are the total tax consequences?
Definitely see a knowledgeable real estate tax account when filing your next year's taxes.

When dad died a couple of years ago, he left his property to my sister and I. I want to sell it, but can't find my "missing" sister. I need the money, can I sell it without her signature?
Yes, With some legal help, it can and should be accomplished soon.

I received a Three-Day Notice to Pay or Quit on Thursday. When is the last day I can pay?
You have until Monday at 11:59 p.m. If they served you the day before, it still would be before midnight on Monday.
I have lived here for 10 years. I'd like some new paint and carpeting installed. How can I get the landlord to agree with me?
Yes, if the paint's peeling and/or the floors are covered with walking hazards (torn carpeting). I am interested in a piece of property where I would have to participate in a 1031 exchange. Should I?
They can be both simple and complex. Seek professional advice (an attorney sounds good!).

Why do you recommend having a home inspection by a professional on a periodic basis?
Would you drive your car without regular tune-ups, oil changes, etc. A house has more possibilities of creating huge unseen problems, especially plumbing which is oftentimes hidden from day-to-date view.

What is the difference between PMI and MIP?
FHA's Mortgage Insurance Premium (MIP) is mandatory, no matter how much equity you have in the property. Conventional lenders usually require PMI (Private Mortgage Insurance) when the homeowner has less than 20 percent equity.

I bought my house a year ago. The train noise is driving me crazy and I can't sleep. Can I sue the seller?
Why? Are they his trains? Were the trains running on a similar schedule before you bought and read the Transfer Disclosure Statements? I suggest you buy earplugs or move.

When my home has increased in value, I want to cancel the PMI. Will the lender forego this monthly collection?
If you are not actually paying your principal down, no. Pay for an appraisal and push hard.

What SoCA cities are under Rent Control?
Beverly Hills, Los Angeles, Palm Springs, Santa Monica, Thousand Oaks and West Hollywood.

We are/were in escrow. Immediately prior to the close, the property was badly damaged by fire and then vandalized. Can we legally cancel the contract?
You most certainly can - if you wish. Is the seller insured? Can he deliver a rehabbed house in a few months for the same price? Renegotiate.

This guy says he will replace my roof with the same materials for $1,000 less than the contractor next door. Should I believe him?
Is he licensed, bonded, insured and does he have references other than his relatives?

Credit inquiries drop your fico scores. Right?
FairIsaacCO says "no." Actually multiple inquiries over a two-week period count only as ONE.

Is it good to shop for a good sounding loan?
Sure. Keep in mind, rates changes on an hourly basis and no one can predict future rates.

What about "locking in" a rate?
Lenders will commit in writing to a certain rate only when you have been fully approved.

What should I do to get started?
You can call me or visit http://www.reposandmore.com. Before then, do NOT pay off creditors, shop for a car, or purchase anything other than groceries and gasoline.

I replied to an agent's property sign and was told "that property has been sold." What gives?
Sorry, but a truism. Agents are sometimes slow in placing a sold sign on the property.

What is a "Good Faith Estimate" of closing costs and monthly payment?
A lender is REQUIRED to provide one when applying for a loan.

Inasmuch as costs will vary depending on the closing date, prorations, etc. how can these be accurate?
Your choice of a professional loan officer and his company should be acquainted with the LOCAL costs and give a reasonably accurate estimate.

A friend had to "beg, borrow and steal" the many hundreds of dollars necessary to fund his loan, but then got most of it back at the close of escrow? I don't want that to happen to me?
Neither do I. Caveat emptor!

Our fire insurance covered the damage to the kitchen, roof and laundry room. Must this claim be disclosed to any prospective buyer?
Yes, most certainly and any other claims to your knowledge.

Our doctor advised us to prevent any mold in our home due to an asthmatic child. How?
Check for and stop all leaks - dry the area within 48 hours; clean a/c pans, drain lines; adjust irrigation system to avoid perimeter water collection; slope ground away from foundation; maintain exterior walls - new paint, free from vines; use the bathroom exhaust fan.

Sounds like good advice in improving home's value, right?

Most certainly. A tiny leak can lead to unhealthy conditions and a reduction in value if not caught early and treated. Consider your home the "patient" and you the "doctor."

What are "TDs?"
Transfer Disclosure Statements. They contain mandatory information relative to the condition of the property being sold to a buyer. Anything that the seller knows or should know as owner of the property.

Are the buyer's and seller's agents required in writing to disclose anything negative regarding the property.
Indeed. Sellers, buyers and agents must sign acknowledging they have inspected accessible areas and their observations.

What is a non-traditional credit report and what does it contain?
Potential buyers without a credit history will be in "credit limbo;" hence, a lender can ascertain how they manage their rental and utility payments and other items which normally do not appear on a credit report.

Is it a good idea to shop for hazard/homeowner's insurance prior to closing an escrow?
Most definitely. Insurance is mandatory if you anticipate a loan. If you don't shop, you will be forced to accept that which will be supplied by the lender. Ugh!

Documentation, Application Package, Complex Package - do these all mean the same thing?
Yep. All the pertinent information necessary for loan approval, including your personal, employment, financial information PLUS that which the lender requires - title report, appraisal, termite clearance and anything else pertaining to the loan of choice and the terms of the Sales Contract.

Should I start a "Personal File?"
The earlier the better. Pick a large, sturdy envelope at least.
What else?
It is never too soon to get the advice of your lender. If he is too busy to accommodate you, give me a call. I can advise you as to what your best avenue would be.

Where do all these Questions and Answers (QandAs) come from?
Over the years I have chronicled many Frequently Asked Questions (FAQs) put to me relative to residential real estate buying and selling in California's San Bernardino and Riverside Counties.

What does "carry paper" mean?
Instead of a seller taking only cash from the sale of a house, he chooses to accept a note for a portion of the price.

Is this sometimes called a second trust deed?
Yes, if the buyer has a loan (a first trust deed) or is obtaining an additional loan which will take, or is in, first position status.

My 63 year old healthy father wants to retire but has no savings or retirement. There is still a large balance on his mortgage. Is he eligible for a reverse mortgage?
No doubt, but before he can enjoy any of his equity, all existing loans must be paid off.

My neighbors have a mature orchard in their small yard. The limbs hang over the fence and are attempting to eliminate our view and the branches hit our roof. The leaves make a steady job of cleanup each fall. What recourse do we have?
Ask them to cut the overhanging branches or hire someone to do it and sue for payment.

I entered "single" on my loan application and the vesting to my future home. The escrow officer said the title company wants it changed to read "unmarried." Why?
If you are without a partner, that alone does not make you "single." If you were married at least once, you will never be legally single again.

Mello-Roos payments are assessments which are not deductible. What is an assessment anyway?
Special and local levies upon property in the immediate vicinity of an improvement.

Who can impose these assessments?
Entities such as flood control districts, street lighting districts and air pollution control districts which serve an area.

What exactly does Realtor mean and how many real estate agents are actually realtors?
Being a Realtor is something special. We adhere to a Code of Ethics not only to ourselves but to the public. Statistics show that only about 40% of those with real estate licenses to sell are actually Realtors. Tells ya' something?

About those Ethics; what if I come across one who does not seem to adhere to any rules?
Get on your computer and go to the Department of Real Estate - http://www.dre.cahwnet.gov. It is a very large informational site. If you want to investigate a person purporting to be a licensee's number, their record, their longevity in the business AND/OR register a complaint utilizing the license number, this is the place to do it.

Is Private Mortgage Insurance (PMI) absolutely necessary when purchasing my home?
If you are paying cash, of course not. If you are putting a small down payment, your lender will require PMI to "protect" them against default.

How often do I have to pay the PMI and how much?
It is paid monthly and included in your quoted monthly payment. It amount you pay depends on the amount of your loan; expect to pay 0.5% of the loan amount.

Is this additional fee necessary for the entire life of the loan?
It shouldn't be. I would add this question to those you ask your lender BEFORE you agree to the other terms of the transaction.

I understand you often vacation in the Ensenada area of Baja, MX. Can you assist me in my decision to purchase there?
Of course. I love the idea of spending my retirement years there, but in the meantime, I get the biggest kick out of my occasional stays and the leisurely way of life. My neighbors and friends there have been crossing our southern border for as many as 35 years.

Can I demand my tenant to pay in full when the judge at the eviction hearing renders Notice to Evict?
No, if the landlord wants the in-arrears tenant to "pay-up," he should have sued in Small Claims Court to secure a Judgment for the rent money.