Entries from Searchlight Crusade tagged with 'competition'

Competing Offers From The Same Agent For The Same Property

I wouldn't have believed this one if I hadn't been there when it happened. Another agent in my office had a listing where the property went into default. We just happened to find out about it; the seller tried to...

Loan Providers Offering to Pay For The Appraisal

This is one of those commercial gambits I keep seeing that has nothing intrinsically wrong with it, and yet it is most often a tactic employed by the more costly loan providers. In short, sharks and scam artists. The basic...

Buyer's Markets

One of the phenomena that I have encountered is fear of the market in buyers. They are concerned if prices are falling, and that they will lose some or all of their investment if they buy. Well, the first...

My Loan was Denied - What Fees Can I Recover?

"What mortgage fees can i recover after loan denial" was a search I got. The answer is basically, "None." The only thing that should be charged up front is a credit check, which costs about $20, and you should be...

Buyers: Stretching Your Budget Means Compromise

As a good buyer's agent, I love a challenge. When someone comes to me trying to make a budget stretch just a little bit further than it would usually go, that's the kind of client I love to have....

Why You Want A Buyers Agent To Deal With Developers

Not too long ago I got an email from an ex-prospect who decided to buy a developer's property without a buyer's agent. They persuaded her that she would get a better deal without them having to pay a buyer's agent...

"We'll Beat Any Quote" in Mortgage Loans

Just like "we'll beat any deal!" in any other competitive sales endeavor, this is a game. Actually, it's even more of a game for loans than it is anywhere else, used cars included. What they are hoping is that you'll...

Online Real Estate Photographs - You Have Heard of Photoshop?

When Israel invaded southern Lebanon a few years ago, this picture from Reuters ran worldwide The problem was that it was heavily photoshopped by a Palestinian stringer trying to make it appear like the Israelis were setting the entire...

You Must Be Willing To Act In Order to Get Any Benefit

On a very regular basis, pretty much every buyer's agent who's worth anything gets clients who have difficulty making a decision. Not too long ago, I found a solid property with great potential that nonetheless needed about $20,000 of cosmetic...

Whatever the New Trick in Loans is, It's an Always Attempt to Keep From Really Competing On Price

It seems every week I get asked about some new or revived trick that loan providers are pulling. The one thing they all have in common is that they are methods to avoid competing on price. What the basic terms...

I'm Sorry, Did You Think Your Good Faith Estimate (Or Mortgage Loan Disclosure Statement) Meant Anything?

Somebody asked, "What are my legal options when there's a change on a good faith estimate." Short answer: Sign the documents or don't. Same thing with a Mortgage Loan Disclosure Statement here in California. Neither one means anything binding; that's...

Special Restricted Loan Programs Means Potential For Special Problems

An e-mail I got from a single mother I spent two months working with before she found a special low income program for a property she wouldn't have been able to afford through me. The first paragraph is her addition...

Why It May Be Costly to Reject Paying Points

I hear it and read it all the time - advice that says to pre-emptively reject the possibility of paying points. People that talk to me about loan rates that tell me they will not consider any loan that...

Just Because Compensation for a Loan Isn't Disclosed Doesn't Mean It's Free

I am continually confirming that a large percentage of people can't handle negotiations like an adult. They focus in on garbage and ignore what's really important. I recently was going to deliver a loan that cost less, as well as...

There's No Real Way to Take The Complexity Out of Real Estate

Every so often I get e-mail asking why real estate transactions are so complex. Matter of fact, I have this discussion with most clients at some point. The answer is, "Because real estate transactions for a lot of money, and...

Buying One Property While Selling Another

Most people don't stay in their first house their whole life. At some point, they want to move to a different home. There are several ways to approach the transaction, but you have to decide which way fits you. You...

Lowballing Mortgage Quotes Versus "Junk Fees"

One of the things that most mortgage and real estate consumers get mixed up on is the distinction between low-balling and junk fees. Junk fees are when they add fees that really aren't necessary to what you're paying. Low-balling is...

There Is Always A Reason For A Low Asking Price

One thing prospective home buyers need to understand and don't is that there is always a reason for a low asking price. To emphasize: There is always a reason for a low asking price. Sometimes that reason is something you...

Real Estate Transactions: If You're Spending Money, Make Sure You Get Something Valuable For It

Most days I get loan wholesalers coming into my office. I'm always happy to talk with them, providing they want to talk about what I want to talk about. They usually want to talk about this gimmick and that gimmick...

Deciding You Don't Want A Particular Mortgage Loan

I have questions to ask you about the loan for house. I have been work with one broker since DELETED and I just tell her on the phone that I chose her and that she can start to do...