Unfortunately, not all Short Sale properties that are listed for sale in the Los Angeles area will close escrow. First, what is a Short Sale? If a home's current market value is less than the mortgage balance owed and the homeowner (borrower) cannot afford to make the mortgage payments, they will ask their lender(s) to take an offer from a buyer and approve a…

If you have a client that has a just filed or soon to be filed residential foreclosure action in Florida, what new timelines can you expect under the new Florida Foreclosure Law?  Effective with all NEW lawsuits filed on or after July 1, 2013 the new streamlined foreclosure procedures law will govern how fast the lawsuit will proceed – or at least that is the theory behind the new law.  Reality can be quite something else.

Under the law as it existed before June 7, 2013 (the date…

With foreign buyers again flocking to buy United States real estate, it is important as a Buyer Realtor to remember to advise them of their obligations and liabilities when they sell it.  FIRPTA (Foreign Investment in Real Property Tax Act) has been around for decades, yet many Realtors forget to tell their foreign buyers of the implications of FIRPTA when the foreigner is looking to buy, thereby possibly short changing their client on options and surprising them with expenses when they…