FHA? Ready..Go!

April 20, 2010 · Shokoofeh Nowbakht · 4 Comments

My client, James is in contract for a really nice townhouse in Hayward. He is using FHA financing. Townhouse complexes, unlike Condo complexes, apparently, don’t need to be FHA approved. The pest inspection was few days ago and the inspector said it was free of section 1 items! Great! What’s the problem, then?

There may be no problems at all. But, I wanted to make sure there will be no issues from the FHA appraiser. I know “Peeling Paint” is a safety item and has to be fixed before the FHA approval. So, with the sellers permission, my client and I decided to get ready for the appraisal and bought some spackle and paint and spend a couple of hours working on the property. I pulled out the nails and screws off the wall, James filled in the holes with spackle and then painted over them. Oh, we also cleaned the tub and the shower, so there will be no dirty spots that may be mistaken for mold.

Everything looks good, or at least looks good to us. Let’s keep our fingers crossed for the FHA approval!

Shokoofeh
www.shokoo.com

My Happy First Time Home Buyers

March 22, 2009 · Shokoofeh Nowbakht · 4 Comments

I went to visit my clients who just bought their first home 2 weeks ago. They had bought new dining set, living room set, and a flat screen TV over the fireplace. They were very happy and their little toddler boy had the greatest time running around the house, climbing over the couch and the dining table. He hugged me so many times and blew kisses at me. I enjoyed watching them. We were so used to meeting several times every week especially since the loan was getting approved and funded, that it was hard to say goodbye.

I’m going to miss not seeing them as often.

Halloween Foreclosed House

November 13, 2008 · Shokoofeh Nowbakht · 2 Comments

I know Halloween is over, but I just remembered to share the photo of an interesting and very creative costume with you. As you know our San Bruno Prudential participated in giving candies out to children at Serramonte and Tanforan Malls as before on Halloween. It was a lot of fun. I saw the “Foreclosed House For Sale” walking and just had to ask him for a picture. The turbulence in housing market has affected many aspects of our lives, including our holidays. I wonder what kind of real estate Christmas ornaments we will see this year.

Ratified or Terrified?

October 25, 2008 · Shokoofeh Nowbakht · 1 Comment

My first time home buyers became terrified when their offer ratified! They had submitted few offers on other properties and were overbid every time. Is it the market we’re in today? Is it not expected for the first offer to get accepted?
What has been your experience?

How much does it cost to make an offer?

October 2, 2008 · Shokoofeh Nowbakht · Comment here

“How much does it cost to make an offer,” my first time home buyer asked. Nothing, but you do need to write a check for up to 3% of the purchase price, made out to a title company of your choice. This is the “earnest money,” or “good faith money.” This is not a down payment, but just a deposit to secure the offer or contract to show how serious the buyer is. In the simplest words, by default, buyer has 17 days, unless otherwise stated in the contract, to cancel the contract and get their deposit back.