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Real Estate FAQs - street scene from the Santa Teresa area of San JoseThere are common or frequently asked questions (FAQs)  that arise for people buying or selling property here in Silicon Valley or the Central Coast, so I’ve assembled a list of real estate FAQs that I have written about here. Each link goes to an article on this website with more information.

Real estate FAQs relating to offers, contracts, etc.

What is a blind real estate offer?  It’s an offer on a property “sight unseen”

What is a sharp offer or relative bid?  This is when a purchase contract states that the buyer will pay more than competing bids.

Does the contract count calendar days or business days? Most of the time, it’s calendar days. But there are some nuances.

What is a “kick out” clause? This applies to sales contingent on the sale of another property

What Is A Default in a Real Estate Transaction or Contract? Defaults occur when a party to the contract does not perform on something promised in the contract.

What makes an offer lowball?  It’s one thing to be aggressive, it’s another to make a seller so mad that they don’t want to sell to you at all.

What is a backup offer? If the first offer that’s in escrow falls through, a backup offer can go into first position quickly

Rent back: what is it, who wants it, what are the issues to consider? If a seller stays on after close of escrow as a renter (even at no cost), that’a a rent back

 

Real estate FAQs pertaining to ownership and HOAs

What Is the Difference Between CID Ownership in a Condo, Townhouse or PUD? In some cases, you own the land, and in others, air space

What is the difference between a duplex and a duet home? – they might look similar, but ownership is different!

What are CCRs? Covenants, Conditions, Restrictions – they impact what you can and cannot do at your property

If you buy without an agent, can you get a reduction on the sales price of a Silicon Valley home? Short answer: commissions are for licensees who are members of the MLS

Patio Homes or Zero Lot Line Houses in Silicon Valley – properties with the house up against one of the property boundaries

 

Real estate FAQs on disclosures and other misc things

Why do real estate agents do a visual inspection of the properties they sell?  It goes back to a lawsuit when agents failed to disclose a landslide on a property.

What is implied agency in real estate? It’s all of the liability and none of the pay, so scary for Realtors!

How to fix incorrect property records in Santa Clara County? Often it’s a matter of reaching out to the tax assessor’s office

Where are the easements? Request a color coded easement map from your title company!  Easements give someone else the right to use your property, or you the right to use someone else’s

What is a preliminary title report? Why does it matter?  The title company provides this to give info on ownership and liens

What is a plat map, and what can you learn from it? This map displays relevant info. Learn how to decipher it in this post.

What Is Cellulose Debris (in a pest or termite report)? Wood and paper where it does not belong, which is a problem because it’s a buffet for pests

 

Do you have a real estate FAQ that isn’t listed here? Please google the question with my last name, Pope-Handy, and there’s a good chance that I’ve addressed it here or on one of my other sites. Still no luck? Please shoot me an email and we can discuss it (and perhaps I’ll write about it).

 

 

Author

  • Silicon Valley Realtor, selling homes in Los Gatos, Saratoga, San Jose, Silicon Valley, and nearby since 1993. Prolific blogger with a network of sites.