Entries from Searchlight Crusade tagged with 'negotiation'
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...
The Good Faith Deposit for Real Estate
A search I just noticed asked the question "Who gets the deposit if escrow falls through?" The theory of the deposit is that here is an amount of cash that the buyer is putting up as evidence of their ability...
How Agents Should Respond To An Appraisal Below Purchase Price
It really helps my perspective in a lot of ways to be both a Realtor and a loan officer. Just the other day, I had a loan only client where they were already under contract to buy a property...
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....
What Can A Real Estate Seller Do To Find Out if A Potential Buyer Is Qualified
A high percentage of buyers out there have no idea of how qualified they really are themselves. They have no clue as to any of the major factors in determining credit-worthiness. To be fair, there are dozens, if not hundreds,...
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...
Top Twelve Things That Help You Buy Property At A Bargain Price
Quite a while ago, I wrote Top Ten Reasons You Bought The Wrong House and Top Ten Reasons Your Home Isn't Selling. In that vein, I'm going to write a list of the most important things when you're shopping for...
Buyer's Appraisal versus Seller's Appraisal
My husband and I are currently in escrow with the sale of our home in California. Our buyers have been " difficult" to say the least. The buyers appraisal of our property came in $6,000 below the selling price...
Missing a Deadline to Counter-Offer
One of the best ways I have of telling how good a listing agent is is whether they get the counter to me before the offer has expired. Not that someone who gets the counter back to me quickly is...
Money You Will Spend Before Your Real Estate Purchase Is Consummated
Before you even make an offer, you should be aware that you're going to spend a significant amount of money in the process of buying a property before the transaction is consummated. This will largely be money that you will...
Reasons Why You Want A Buyer's Agent
There's an awful lot of nonsense out there that advises people to do without an agent. Quite often, first time buyers of real estate get seduced into not having an agent by this stuff before they get into the market,...
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...
Do I Need A Deposit With 100% Financing Offers?
The answer is yes. Mind you, the only generally available 100% financing left is the VA loan, but few sellers are going to be willing to consider any offer that doesn't have a significant deposit. Consider the situation from the...
There's No Such Thing as Full Service Agency for a Discount Price
You might get what you pay for. You don't get what you don't pay for, despite the fact that the local dog target loves giving discounters free puffery. I'm not against discounters. I'm very happy to do a discounters work...
Termite Work, Wood Destroying Pest Agreements: Avoiding Fraud
Every purchase contract I write includes an addendum for Wood Destroying Pests. In California, this is accomplished via form WPA, a one page addendum that requires an inspection and details responsibility for who makes repairs. The work needed is separated...
Find An Agent With Enough Time To Devote To Selling YOUR Property
Not very long ago, the purchase market in many areas of San Diego went through a phase that could only be described as "piranha feeding frenzy". This sort of market reinforces several pieces of advice I have given here....
RESPA Forbids Steering - Even "Just For Prequalification"
Agents rationalize this in all sorts of interesting ways, so let's just start by quoting the cold hard federal law. It's pretty damned clear: RESPA no person shall give and no person shall accept any fee, kickback, or thing of...
Multiple Offers: Weak But Increasingly Common, And It's Your Listing Agent's Fault
Listing Agents say they hate it when prospective buyers (of their listings) make offers on multiple properties, but they keep doing things to encourage it. It is both legal and simple for buyers to make multiple offers. All I have...
Properties With Accepted Contracts Aren't Available
This is one of the hardest things to get across to many people - agents included. A property with a fully negotiated purchase contract is not one that someone else can buy. They have a legal agreement binding them to...
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