How many garage door opener remote controls sell with a house?

I figured I would point out something all Sacramento home sellers ought to be keenly aware of when filling out disclosure documents when selling a house...

The short answer to the question posed in the title of this blog post is: "as many as the sellers disclose they have."

An automatic garage door opener is a "fixture" in a real estate transaction. A fixture is basically an item that is attached to the house, and by its attachment becomes part of the house. Other examples of fixtures are things like the kitchen sink faucet, door knobs, built-in shelving, etc. Those items are generally included in the sale of a house. Sometimes those items can be specifically excluded from a sale, but that's another blog post for another time.

In the case of an automatic garage door opener, in addition to the device being a fixture itself, usually garage door openers have remote controls. And remote controls are also items that are conveyed with the property in the sale.

In the Real Estate Transfer Disclosure Statement (TDS), there is a section where the seller checks off items that are part of the house. Under the "Automatic Garage Door Opener(s)" checkbox, there is also a line for "Number of Remote Controls" and a line to fill in with the number. Usually a seller will fill in that there are 2 remotes. Makes sense...garage door openers usually come with 2 remotes.

For some reason, home sellers seem to lose track of garage door remotes. Perhaps wife lost one of them a long time ago and husband is the person filling out the disclosure forms...or perhaps the remotes got packed away during the move. Whatever the case, if a seller notes there are 2 remotes on the TDS, then they must provide the new owner of the home with 2 remotes. Not 1. And definitely not 0.

I cannot tell you how many times in my real estate transactions, whichever side (buyer's agent or seller's agent) I have been on, the seller has noted more remotes on the TDS than they have in their possession. Numerous times, sellers have had to purchase new universal (programmable) garage door remotes to remedy this situation so that buyers are provided the number of remotes noted in the TDS. SO -- sellers, make sure that you note the actual number of remotes that you will be able to transfer to the buyer, even if that number is 0.

Or perhaps its a safe investment strategy to buy stock in the universal garage door opener remote control manufacturing companies.

New Listing - 5394 Knotty Pine Way, Sacramento (Natomas), CA 95835

Adorable Natomas 3 bedroom, 2.5 bathroom, 1,519sf home! You will love all of the upgrades -- custom shutters throughout, newer laminate flooring, high ceilings, great room with integrated surround sound, kitchen with granite counters, downstairs half bathroom, spacious bedrooms, large master suite with dual sinks and tons of closet space, and more. Attached 2-car garage and low maintenance yard. Conveniently closet to shopping, parks, schools, and freeways. Don't wait! Offered at $279,900. For more photos and detail visit 5394 Knotty Pine Way, Sacramento, CA 95834.

Meet Our Newest Addition, Citra the Mini Aussie...

For people who have followed my blog for a LONG time, you may already know that several years ago, I had a really sweet bloodhound named Harold. I was devastated when he had health issues and had to be put down. I have not had a dog since...until now.

Meet "Citra" who has been named for a variety of hops used in beer-making. She is a mini-Australian Shepherd puppy. She is 7 pounds now, and should grow to be about 25-30 pounds. On top of being extremely adorable, she is also extremely sweet and very smart. House-breaking a puppy isn't exactly the easiest thing to do, and she's rolling with it pretty well.

It's so nice to have a sweet dog again, and I look forward to many years of her companionship.

My 4th California International Marathon is complete!

Well, yesterday started out with a little rain, but the remainder of the day yielded perfect running conditions for the California International Marathon. My husband and I completed the 26.2 mile race yet again. What was also really neat, is that my company, Dunnigan Realtors, sponsored "The Wall" at mile 21 right out front of our office in Sierra Oaks on Fair Oaks Blvd. It was cool to run past my colleagues and friends there, and I am sure all of the other thousands of runners appreciated the cheering squad as well. At that point in the race, runners really start to feel the pain...ironically the pain tends to be mostly psychological despite how bad my feet and muscles ache. Any friendly face or cheering section is so greatly appreciated...helps make that pain a little more tolerable. And with that, on to the next race!

Making Land Park Drive look a little more festive during the holidays...

Ever noticed the lamp posts on Land Park Drive decorated with the red ribbons and bows during the holiday season? Yes indeed, the elves at the Dunnigan Realtors Land Park office do that every year!

New Listing - 4140 61st Street, Sacramento (Tallac Village / South Tahoe Park), CA 95820

Adorable Tallac Village 3 bedroom, 1 bathroom, 1,027sf home on .12ac lot. You will love the spacious layout, large living room with custom lighting, stylishly remodeled kitchen, stainless appliances and lots of storage, inside laundry room, remodeled bathroom with slate stall shower and flooring, laminate flooring throughout and 3 big bedrooms. Backyard is nicely landscaped with sprinklers, planter beds, and drip lines. Also has central heat and air, dual pane windows, composition roof and detached garage. Short distance to Tahoe Park. Don't wait! Offered at $299,000. For more information and photos please visit 4140 61st Street, Sacramento, CA 95820.

How to properly give or receive a downpayment gift for your home purchase...

A few years ago I was quoted in a USA Today article about parents who provide their adult children downpayment "gifts" for their home purchases. This is extremely common, and financial gifts are generally permissible with FHA loans, VA loans, and Conventional loans, though usually my clients do not understand the process in order to give or receive a financial gift. Lenders and loan underwriters have very specific processes in order to document the "source and seasoning" of financial downpayment gifts...

If you are a home buyer looking to give or receive a financial gift, I would NOT recommend just writing the recipient a check or transferring funds into that person's account. Generally, it is much easier for the person giving the gift to hang on to their own funds, and then deposit them on the recipient's behalf directly into the escrow for the transaction when that time comes. This is much cleaner and there are fewer steps to trace and document.

Just what do I mean by "source and seasoning" you may wonder? Well for one thing, lenders will not let just anyone give a buyer a financial gift. Generally gift funds needs to come from a family member, such as a parent, grandparent, sibling, child or even a spouse, if that spouse is not on the loan. In addition to this, the gift funds must be "sourced" directly from this family member's bank account. The family member will need to provide the lender bank statements and a trail of where the money came from. Seasoning refers to the fact that lenders want to see that these funds were not recently acquired -- they prefer to see funds that have been "seasoned" in an account for at least a few months.

The lender will require that the financial gift giver write a letter stating a few things; (a) the amount of the gift being given, (b) the property address of the home being purchased, (c) your relationship to the person receiving the gift, and (d) that the money is NOT a loan and that it is a gift that does not have to be repaid.

All lenders will have their own specific requirements, however these generally are the most common when giving or receiving a financial gift. Many of my transactions with first time home buyers involve the use of gift funds -- this is extremely common and it is pretty cool to see! I have had clients give and receive financial gifts anywhere from $1,000 to augment a buyer's downpayment, to a full 20% downpayment, and everything in the middle.

My visit to the Colorado Association of Realtors....

My husband and I took a little excursion to Denver this last week, and as per usual I totally wanted to check out the local Association of Realtors. The Colorado Association of Realtors was in Denver! Such luck to get to check out a state association...however when we arrived, they were closed. Huh? On a Friday mid-morning? Oh well. I still took my photo in front of the sign. I guess I will have to go again the next time I am in Denver...