Terry Osburn, Broker Associate

One of the biggest boo boo's a buyer makes in presenting offer on bank owned properties is not doing their research ahead of time and not writing a clean offer.

The bank owned properties generally speaking have at least 2 if not 3 appraisals and BPO's(Broker Price Opinions) before deciding on price to list these homes. Always take that into consideration before making an offer.

Write a clean offer. It is ok to ask for customary things . Remember they want to clear their books.

Have inspection periods for 10 days or less. The faster the closing the better your chances. Make sure your lender(unless a cash buyer) has fully documented and approved your loan subject to satisfactory appraisal and title etc.

Having said that , do not be afraid to write offers lower than the list price just have documentation to back up your purchase offer price.

Do not get emotionally attached to any offer. The faster you learn and accept this the better emotionally and mentally you will fair.

In our area on the lower end homes we are seeing multiple offers. Why? Most of the qualified buyers are in that price range PLUS the investors are out there seeking bargains.

Be prepared to write offers on several homes before acceptance.

I know it is difficult not to get attached but look at this as a business adventure, an investment and do not try to figure out the banks way of thinking.......it will drive you absolutely crazy.............

Do be diligent, consistent and write offers. NEVER give up your right to inspections unless you are a licensed contractor and/or have the cash to take care of major ticket items.

If your REALTOR(R) is not patient with you in writing up offers, find another one. Call me, As long as I know you are qualified and serious about purchasing I have no issue writing up offers until you find one that is accepted.

With the new electronic management of contracts it takes little time to create a purchase offer and send to you electronically to sign. NOW some outside of the state of California lenders do not recognize electronic signatures and will want hand written intials and signatures......NO problem the process is not complicated.

I am here to serve you in your real estate needs. Contra Costa, Alameda and Vallejo and Benicia in Solano County.

Not a subject most like to think about .......waste lines........BUT(T) one that does need addressing in older homes and neighborhoods.

In several California Cities it is a requirement to update the sewage lines at time of sale or within a time period shortly after sale.

Many of the older pipes are made out of clay and have cracked and failed allowing for seepage of waste into areas not desired creating a health and safety issue besides the smell........

If a homeowner selling your home, be aware this could be an issue and/or requirement and/or negotiated in purchase offer to be scoped or replaced.

The good news is there is a new method without doing the whole trenching that allows for replacement at a lesser cost.

If a buyer seeking to purchase an older home you are encouraged to have the sewer line scoped to ensure there is no major blockages as part of your inspections.

Sometimes you can negotiate with seller to split the costs or have the seller pay for the replacement.

Be cognizant of tree roots and their proximity to the sewer line running from the house to the street.

Further it was brought to my attention that many of the waste lines for the high efficient washers are not adequate in older homes and can cause flooding ......

In the scheme of things another item to be considered when selling or buying a home.

I received an email the other day that I thought was marvelous.........Instead of giving the 700 billion to the banks and pay the outgoing CEO's mega bucks how about dividing the 700 billion by every US citizen and send a check to every household!

Would amount roughly to $240000 or so........The government could tax it so they would get part of it back and the households can either pay off their mortgage, refinance their mortgage, buy a home? depending on what area of the country you are speaking, fund their retirement, buy a new car, buy a new TV, Geesh they could even buy clothes......NOW that would get the consumers buying again!!!!

I accidently deleted that email so I am not sure who to give credit too but I think this is a marvelous idea.........never hurts to dream...........

There is no guarantee that the 700 billion will work if given to the banks. The small injection of monies several months ago did not help.

There is no doubt something needs to be done. A blank check is not the answer.

Frankly if the truth be known the urgency in getting the bail out to pass is to cover the butts of the many trusted individuals in our government who has been in bed with the fraudalent characters involved.

The signs have been in view for a long time.....This is not just about real estate and mortgages , it goes much further.....

Whatever your political beliefs I would encourage you to get involved and be proactive.....

It sure has got my attention.

If you do not have to get caught up in the traffic snafu you might want to consider a home in East County.

Things you still need to watch out for such as mello roos , taxes which could significantly increase your monthly mortgage payment.(Antioch) Many of the notorious taxes have lessened and /or have terminated. You will always have taxes but there is a difference between adding up to a hundred a year on your tax basis to adding several hundred dollars to your MORTGAGE payment a month.

There are so many newer homes for sale with spacious sq footage inside for the growing family.

There are still many established homes in older neighborhoods that will still bring you long term value in your real estate investment.

Remember, the Bart will eventually go out to Antioch, with buses to the Brentwood area to assist in easy transit to the Bart. Yes, I know they have said that for years. But they are actually physical signs of work in progress.....

If interested and you are looking for an expert negotiator give me a call. I would be happy to meet with you to discuss your real estate options.

I present facts. I never counsel a buyer to offer a specified amount for a home. I do give my clients the needed comparisons and facts for the buyer to make an informed decision.

I want your business and repeat business in the forms of referrals. Call me today for a no cost consultation of your real estate investment dreams. First time home buyer, repeat buyers or investors.