Santa Clarita, CA

Hypocrisy! Most Realtors have run into a situation of making an offer on a REO/Bank Owned/Foreclosure listing with an offer that had FHA Financing. This type of loan is Government insured. Lenders in masses will turn down the FHA financed offer when giving another offer equal or even close to the same amount. It is a sad state of affairs in America when the very banks that have been bailed out by the Government have the right to discriminate against the same Government!

Your Friend & Realtor,

Tony Lewis * RE/MAX of Valencia www.TonyLewis.com tonyglewis@yahoo.com 661-510-7975

Click to read the recent posting on our Santa Clarita Real estate blog that talks about this very topic... What is a NOD and DOM? Notice of Default is what NOD stands for. Days on Market is what DOM stands for. Both should be of concern to any buyer that is approaching Short Sales to purchase. The other thing you will need to know is how the Short Sale home, condo or town-home is being structured.

Have a look at our SCVmoves YouTube channel for other videos (there are 4 in this series) which will give you better advice when approaching a short sale seller.

Santa Clarita Radio Stations are few and far between. We have a local "traditional" radio station that has been at the top for a long time. The mission of our Santa Clarita Radio Station, a "non traditional" web based one, is to not be about sponsors but real people.

People starting businesses, people that are "real" wanting to talk about themselves and their business. More importantly, what is they do to give VALUE to their clients?

Our Next Show, This Monday at 1030am, can be listened to live by anyone calling the "Call In" number at:

(805) 727-7098

You can also join the Santa Clarita Radio Chat room at the same time if you want to interact with others that are busy being all about the Buzz. -

We make it fun, but not "shocking". If you want to follow our show on Blog Talk Radio, click on this text and you will be taken to our show page, where you can subscribe to be notified of future Santa Clarita Radio Shows.

It has not be an easy rope to tow - but we have it together when it comes to web presentation for the cities that compose the Santa Clarita Valley and all of our followers real estate interests.

I don't say that with any contempt to others in the Real Estate industry and we do our best to help anyone that asks.

It is all about getting the best results when searching, obtaining the most accurate home values and never having your personal information spammed, sold or traded.

Enjoy and Let your "Santa Clarita Neighborhood Real Estate Experts" Help You.

Ralph's Weekly Legal What-If Scenarios: Contract Addendums - Who Signs What And Why?

Each Monday, I'm going to post a "What If" Scenario that presents a legal issue in a real estate hypothetical situation.

Each Sunday, either the correct legal answer (or most likely legal resolution) to the situation will be posted.

This week's "What-If" Scenario was based on contract addendums.

If you'd like read this week's blog, click here:

http://activerain.com/blogsview/2726242/ralph-s-weekly-legal-what-if-scenarios-contract-addendums-who-signs-what-and-why-

Here is this week's scenario:

Jane is the listing agent, and is representing her seller, Adam, in an escrow. Steve is the buyer's agent, and he is representing his buyer Carol.

Things are going fairly well with the escrow, and the loan approval took a little longer than expected, thus creating the need to close escrow a few days later than what the contract states. Carol is using her brother-in-law Derek as the loan broker to obtain the loan.

An addendum is drawn up to extend the closing date out 5 more days than the original contract states. The addendum is drawn up using ZipForms C.A.R. form ADM, and the principles and agents sign the form in the designated signature lines on the addendum.

About a year later, Carol, during her plans to add on a new wing to the home, discovers via her contractor that there was an old underground septic tank that was never disclosed to her by the seller. The seller was aware of the septic tank, but did not disclose it, not even to Jane his listing agent.

It will cost Carol approximately $20,000 to excavate the septic tank and fill in the soil properly for the type of renovations she is making.

Carol is considering litigation to recover the damages she must pay to remediate the old septic tank.

If Carol decides to file a lawsuit, will anyone be be responsible for the damages? And if so, why?

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