Never let a buyer take possession before closing

Picture this: the odds and ends of a real estate transaction you’re involved with are taking longer than expected to tie up. Whether it be a miscommunication between the realtors, legal issues, or uncontrollable circumstances, you just want the home to close escrow.

So, you have already moved out and agree to let the buyer move in over the weekend since you will be closing on Monday or Tuesday. Even though the final forms have been signed, you won’t close for a few more days. You figure, “Heck, whats the harm?”

Oops. What if there is a financial or legal issue that crops up? Worst of all, what if the new buyer starts making changes to the home and they – or someone they hire – gets hurt on the property before it is officially theirs? What happens if there is a fire? I know of one situation where the seller allowed the buyers to put their belongings in the garage and there was something flammable and it started a house fire. Do you think those buyers still bought the house? No, the sale did not close and the seller was left dealing with a mess and no house to sell.

Now that is a heap of trouble, tripped up by a tangle of confusing liability. What you thought was an act of goodwill has just turned the final few steps of the transaction into an absolute nightmare!

Even if this scenario seems unlikely, it is still possible. And that is reason enough to never let a buyer take possession of a property before the closing is completed. Crazier things have happened!

A realtor’s job is to protect the interests of their clients and a good agent will counsel you against having a buyer or their belongings in your property prior to the transfer of title.

If you think you might want to buy or sell in the near future, feel free to reach out to me for an organized, knowledgeable, friendly ally in the real estate process! You can always reach me at my website under the contact tab at www.kristinlanham.com.

Vanessa’s Bistro has great drink specials and staying power

Restaurants in Walnut Creek don’t tend to stick around for a long time these days. It seems like every month we’re writing a blog about an old favorite closing down and a new, trendy spot taking its place.

Vanessa’s Bistro is an exception to that rule. They’ve been serving patrons in downtown Walnut Creek since 2009, which feels like an eternity at this point! I’ve stopped in there a few times. My favorite is their crispy garlic salt & pepper tofu with sautéed scallions and bell peppers. I also love their special cocktails.

Vanessa’s also has Happy Hour all day on Sunday, $6 margaritas on Monday (and $30 margarita pitchers, yikes!), 50% off tapas on Tuesdays and 50% off all wine and champagne on Wednesday. A big plus (especially in trendy Walnut Creek) is that they hold happy hour Thursday, Friday and Saturday from 9 PM until 11:30 PM, which consists of $5 specialty cocktails, $6 tapas and $3 and $6 select beer and wines. That is my kind of place!

They have pretty good food, too – Vietnamese tapas with a French fusion twist! They have a huge list of tapas, banh mi, seafood and vegetarian options. I think there’s a reason Vanessa’s has stuck around so long.

I give it 5 out of 5 Mt. Diablo’s!

The VA loan is the best loan going!

With Memorial Day around the corner and a time to honor and remember all the brave heroes who served to hold our flag high, I thought it would be a great time to mention the benefits of a VA loan and what is currently happening in that arena.

There’s a bill in Congress that eliminates loan limits for the VA. The current VA limit for Contra Costa is $636,150, so eliminating the limit will help our vets who qualify for more to still be able to purchase with their VA benefits. I specialize in working with VA buyers and sellers, and have a strong passion for it given my family’s history in service.

There is also a rebate available of up to $2,500 in Contra Costa County for qualified buyers with approved lenders. I can connect you with a qualified lender. The VA loan is the best loan around – low rates, nothing down, 25% of the loan is backed by the federal government, lowest loan foreclosure rate, plus many additional changes over the years to help make a VA offer be accepted such as the seller no longer has to pay for the pest inspection.

Did you also know, you are eligible for a VA loan after 90 days active duty in wartime (we are still considered in wartime which started with the Gulf War)? You are eligible after two years of service if no longer on active duty and six years of service in the National Guard or Reserves.

If you’re a veteran looking to buy or sell in the Bay Area or know somebody who is, please give me a call so we can get the ball rolling on helping you land a rebate and get your VA loan accepted!

Celebration of Closing on a Home!!!

One of the greatest joys of my job is presenting my clients with the key to their new home or telling a seller their home is SOLD. Below are some pictures of celebrating with my happy clients as they receive those keys, sign their loan documents and enjoy their congratulatory “let’s celebrate” baskets after closing!