Entries from Searchlight Crusade tagged with 'buyer's agent'

Loan Fall-Out And The Effects Upon Consumers

This is going to be a long article and somewhat technical in places, but it needs to be covered and it's important to everyone who is thinking about getting a real estate loan. "Fall-Out" is very simple: The number...

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...

The Difference Between a Reliable and Unreliable Prequalification or Preapproval Letter

If you don't know, chances are your agent doesn't either. Even if you know, chances are that your agent is as clueless as a newborn about loans. I and my clients get asked for all kinds of nonsense (to put...

Finding a Good Buyer's Agent (And Eliminating Bad Ones)

I hear people complain that they've never had a good buyer's agent, that they can't find one, or that they one they had hosed them (Sometimes, they're wrong about that, by the way). I also regularly get email from people...

Transaction Coordinator: For The Agent's Benefit, Not The Consumers

The last few years, real estate agents and brokerages have begun charging a transaction coordination fee in addition to whatever their share of the sales commission was. The purpose of this is to pay a transaction coordinator, so your...

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,...

The Division of Labor Between Buyers and Their Agents

During the initial interview with prospects, I like to cover the division of the labor that goes into a purchase that makes the buyers happy. I have to know what's important to the buyers, how important it is, and what...

Dual Agency and Sellers Wanting to Keep a Buyer's Deposit

What can a seller do to get the deposit when the buyer backed out after the time limit and just won't sign off on the money? My real estate agent is not helping at all. The real estate office...

Agents Refusing to Make an Offer on Real Estate

"buyers agent refuses to make offer" was a search hit I got recently. This is yet another reason not to sign exclusive buyer's agent agreements. My hypothesis - and based upon experience it's pretty strong - is that the CBB...

The Best Way To Create Problems For Yourself In Real Estate

Have a "looking for cheap" attitude, especially on services meant to protect you. It's great to have a "looking for value" attitude. If I cost more than someone else, it is in your best interest to ask why, and ask...

Be Careful Not To Commit Fraud With Rebates

With many people pushing various "cash back to the buyer" schemes in real estate, a note of caution is needed. Actually, it's more like an entire symphony of caution. Because if there is a loan involved, you run the risk...

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...

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...

Buyer's Agents Presenting An Offer In Person

This is a right given to buyers agents by my local MLS, and it's a good one, that I like to take advantage of whenever it is practical. The actual property owner - not the listing agent - does have...

Cash to Close - A Basic Primer

Cash to close has always been an underwriting standard, but more people are running into it as a reason why they cannot buy that property, why their buyers cannot perform, and why they can't get that refinance approved. With...

Fake Agent Scams

I am selling my home to this couple and from day one I wanted this to be strictly a buy-owner sale and they knew this but they brought in a Realtor and wanted me to give her 1% for paperwork...

Hourly Pay Instead of Commission For Agents

This was a comment on Real Estate Sellers Giving A Buyer Cash Back. The interesting thing is proposing hourly pay instead of commission for agents. That makes a lot of sense. Disclosing (net) cash back to the lender changes the...