Question: I made a cash purchase offer through my broker on a bank-owned property over a week ago. The bank has not replied except to ask if I would provide proof of funds, which I would. It has now been seven business days since the offer was submitted. This property has been on the market over a year. Is there a traditional, standard or usual timeframe to respond to purchase offers?

Answer: No. There is no requirement for a seller to respond at all, much less within a given timeframe.

You say that the property has been available for a year as evidence that the bank should be delighted to get your offer. You may be right. Alternatively, the bank may think, "Eh, another week or two can't hurt ... ."

Question: I read on a forum recently that California real estate contracts have a clause you can sign to speed up the sale. The clause says you are not or never have been associated with terrorist organizations and you agree to have your house searched or used by federal agents in some emergency. This would be shocking if true.

Answer: It would be shocking if true, but it's not.

First, think about the logic of what's being said. Let's say someone did not belong to a terrorist organization. They would truthfully and naturally answer "no" when asked about such an affiliation.

But let's say someone did belong to a terrorist organization. They would surely lie about their affiliations, thus asking such a question is useless and absurd.

Second, we have a history of restricting government access to private property since British troops were last quartered in colonial homes. As one example, the Third Amendment plainly states that "no soldier shall, in time of peace be quartered in any house, without the consent of the owner, nor in time of war, but in a manner to be prescribed by law."

Third, exactly how would a sale be speeded up? How is it made longer without accepting such a clause?

I asked several California real estate professionals about this matter and they all came to the same conclusion: Dorothy Ables in Orange County, Ed Hein in Walnut and Kay Thomas in Manhattan Beach all say they have not seen such a clause in sale or closing documents.

When you come across something online regarding real estate which strikes you as shocking, trust your instincts and speak with local and experienced real estate professionals to get the right answers.

Question: My husband and I have been separated since 2002. My job transferred me to another state. I found a home and was approved for financing based on my income. The real estate agent is now telling me that I have to have my husband sign the title of the house since we are still married. Is this true? Is there a way to get around this?

Answer: You have the right to buy a home in your name if you have suitable financial ability. That said, because you're now separated, but not divorced you should not buy a property without specific advice from an attorney. The reason is that your husband may have some claim to the property as you are currently married. Go no further with this until you have proper advice.

Question: I purchased a condo a little over two years ago. When it rains, the sidewalk (that is the common area) has water sitting that sometimes is two to three inches deep. This sits right where I open my fence door and I have to wade through this to get in and out of my yard.

I have asked the association and the management company to fix this problem and have been put off for over a year. This was not disclosed when I purchased the condo. How long after the purchase of a property do I have to do something about this if it weren't disclosed? Is it the association's responsibility to repair this? My condo documents state that the common area is their responsibility for the upkeep and safety.

Answer: Send the condo president a letter by certified mail with a receipt requested explaining that the association has an upkeep and safety issue associated with the common area, that you have sought repairs for more than a year, that standing water can represent a health issue and that the value of your property is being impacted by the failure of the condo association to resolve the matter. Make sure the letter shows that a copy has been sent to your attorney.

Question: I have a tenant who wants to move in six days before the lease term begins. I want to have an early move-in agreement charging him on a per day basis before the lease starts. What if he does not want to accept the pre-lease arrangement?

Answer: Your income is derived from the use of your space by others and you have no obligation to give away what you sell.

You want a written agreement not only because of the per diem money which you may collect, but also to establish the tenant's responsibility for use of the property, to begin renter's insurance, to collect a deposit, etc. Usually a few days can be added to a lease with provisions found in standard lease forms. For details, speak with your broker or attorney.

On the matter of the per diem payment, if it's tough to get tenants in your community, it might be wise to skip the payment requirement and just get the tenants into the property -- and to get the lease signed and the deposit placed in an escrow account.

Question: My husband and I are thinking of purchasing a home. A couple of years ago, I had major surgery, didn't have the insurance that I thought I did and so now I'm responsible for all of the debt. I'm making regularly scheduled payments, but the total is huge. If we purchase the house and make the down payment, will the folks to whom I owe the medical debts come back at me and want to repossess the newly purchased house?

Answer: You apparently have an arrangement to pay your medical bills with monthly payments. If that's the deal, and if you make full and timely payments, then no one can do anything to you.

If you did not make your medical payments, and if those debts are not secured by your home, then the medical lender might turn over the debt to a collection agency or seek to collect in court. In neither situation would the medical debt be a claim against your home unless there is an agreement to the contrary. However, if you did not pay your medical debt and were forced into bankruptcy then all bets are off.

Before looking at houses, check with a legal clinic or attorney to see what liability you actually have for the medical bills. Also, have lenders review your credit reports and pre-approve you for a mortgage so you know how much you can borrow.

Question: I have a single-family home that I rent out to tenants. I have an option ARM and every month my mortgage payment goes up. Though I have been able to pay the amortized amount and I was thinking of refinancing the property, I have a three year hard prepayment penalty -- about $10,000. Should I eat the prepayment and lock-in a the 30-year fixed rate loan?

Answer: There are several matters that are unknown here:

First, how big is the loan? Is $10,000 a lot or a little relative to the debt?

Second, can you make the payments if monthly costs continue to rise?

Third, by any chance are you making minimum payments on an option ARM, thus increasing the debt through negative amortization? If so, how much do you actually owe?

Fourth, do you have sufficient income and equity to refinance?

You have lousy choices -- keep a hideous loan or pay a fat penalty. To me, the big issue is making those monthly payments. If you cannot make the payments you can lose the house. In such a situation it may be cheaper to pay the $10,000 penalty.

If you do refinance, please speak with a variety of lenders.

Question: I'm looking into getting my real estate license and was wondering what state has the best success rate for agents and brokers.

Answer: I'm not sure that such a measure exists. For instance, in a state with an active market there would be many chances to represent buyers or sellers -- but there might also be large numbers of licensees vying for the business. In a state with slow sales, there might be fewer active licensees and thus your chances of success might actually be greater.

While an active market with lots of transactions helps, you can find successful brokers in every jurisdiction and in every environment -- urban, suburban and rural. The secret is not the market, it's the skills of the broker or salesperson.

Question: I'm thinking of buying a beach house in an area where the market really went up in the past couple of years there. My goal is to buy a place to rent out and pay my mortgage with the renter's money, or at least help out with the mortgage and sell for a profit in a couple of years. I need someone to give me a honest opinion (not just from a broker who just wants to make a sale) regarding whether the market is too high, whether to buy a condo or house and whether vacation properties in this community are a good buy.

Answer: Why not from a broker? Why do you assume that every broker without exception cannot give you a straight answer?

I have used a buyer broker in an area unfamiliar to me with great success, one who advised against the purchase of given properties that would have meant swift fees.

Why not vacation in the area so you can learn more about it, subscribe to the local paper to follow local trends and get to know some local brokers? With more information you'll be able to make better decisions.

Have a real estate question? Send your inquiry to Ask Realty Times. Because of the volume of mail received, Mr. Miller cannot respond to questions individually or privately. Published letters may be edited for space and style. For comments regarding other Realty Times articles, please contact individual authors by pressing here. For past columns, please press Ask Realty Times.

This column is designed to provide accurate and authoritative information in regard to the subject matter covered. It is made available with the understanding that neither the author nor the publisher is engaged in rendering legal, accounting, or other professional services. If legal services or other expert assistance is required, the services of a competent professional person should be sought.

Published: June 1, 2007

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Have a real estate question for Realty Times? Wondering about buying, selling, financing, refinancing or renting? Here's where you can send your question to Peter G. Miller, OurBroker®, a nationally-known columnist, author and reporter. Peter G. Miller has written six books -- including The Common-Sense Mortgage -- a guide with hundreds of thousands of copies in print. Miller was the original creator and host of America Online's Real Estate Center and joined Realty Times in 1998. Send your questions to . Because of the volume of mail received, individual questions cannot be answered privately and not all questions can be used. Published letters may be edited for space and style and all letters become the property of Realty Times upon receipt.