I was recently speaking with someone who has a condo in the city that was built in the early part of the last century. Since it was built prior to June of 1979, it comes under the SF Rent Control Ordinance. She told me that she thought that once the lease is up, she can give the tenant 60 days notice to move out. “Hold on there a minute! Do you want to get hit with a wrongful eviction lawsuit?” I …
Carol Solfanelli | Compass | DRE License # 01347033 |
415-297-7031 | carol.solfanelli@compass.com
2022 Real Trends America’s Best Real Estate Professional
Top 1.5% of 1.6 Million Agents Nationwide
2022 Real Trends America’s Best Real Estate Professional
Top 1.5% of 1.6 Million Agents Nationwide
Category: Legal Updates
Lately, I have had a number of people ask me about buying a two-unit building. For parents who have children they’d like to see return to San Francisco after college, buying a two-unit building gives them an investment that one day may be used by their children as a home. Others would like to buy a two-unit building (as my husband and I did) in order to live in one unit and rent the other. Some prefer to buy a …
Some people dream of owning a rental building so that over time it will supply them with good cash flow. While it sounds like a great idea if you can afford to do it, there are a number of things you need to know. I am currently working with a client who lives outside of California and wants to own a tenant-occupied multi-unit building which will provide her son a place to live and ultimately a place for her someday. …
One thing that has troubled me since I became a real estate broker 15 years ago is when the same agent represents the buyer and seller in a transaction. This is called dual agency. Maybe it is because I am a lawyer that I feel so strongly about this but to me it is a clear conflict of interests. Everyone knows this. That is why a buyer and seller must sign a waiver before a single real estate agent can …
In the last two weeks, a substantial number of properties have come on the market. The Broker’s Tour outlines the properties agents can view on a given Tuesday in San Francisco. It literally doubled in its number of pages from about 14, which it has hovered around this past year, to 28 pages the second week of September! My buyers who were frustrated by not finding any properties they liked suddenly jumped off the sidelines and started writing offers. One …
In San Francisco these days, it is hard to prevail in a multiple offer situation unless a buyer writes a “non-contingent” offer – no financing, appraisal or inspection contingencies. And many people seem to think that if an offer is written like that, the buyer can’t get out of it if he gets cold feet and changes his mind. However, there are two ways a buyer may get out of a contract that is considered “non-contingent.” The first way is …
I recently represented separate sellers of two different modern condos, one built in 2004 and the other in 2007. They each bought their condos within several years of each other in strong markets. They both just sold their units. One was a two bedroom condo in the Mission whose photograph appears above and one was a one bedroom view condo with lots of amenities in Mission Bay. With the run-up in the real estate market, one would expect that each …
What your HOA dues pay for, as well as the amount, can vary tremendously. In a luxury building where there are a plethora of amenities, the dues will be higher but the amenities will be greater. One thing that is helpful to understand is the difference between an operating expense and a capital reserve. HOA dues will always include the operating expenses for the building, while some will also include a payment into a capital reserve so that the money …
I’m from Pennsylvania and I am still adjusting to having to vote for propositions on the ballot. Personally, while it sounds like a good idea to give people the opportunity to put initiatives on the ballot that have a certain amount of support, I don’t think in reality it is such a good idea. As voters, we don’t have sufficient information about the economic impact a particular proposition may have. We vote for things in a vacuum, not understanding …
A client of mine recently sold his beautiful home in Noe Valley. In the next year or so he would like to purchase another property. Since he just turned 55 this year, he is fortunate to have the opportunity to buy a property of lesser value within the next two years and transfer the original tax assessment of the property he just sold to his new residence; this will result in him paying less in real property taxes. Proposition 60 …