Entries from Searchlight Crusade tagged with 'buyers'

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...

Property Advertisements: Trolling for Clients and Not Very Truthful

The first thing you need to understand in reading any property advertisements is that agents write them to get people to call. They are trolling for clients, not sales. Except in the case of someone who doesn't accept dual agency...

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...

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...

Adverse Possession

It may surprise you to learn that there is a way to lose part of your property without selling it, against your will, and without the government condemning it for public use. This is the doctrine of adverse possession,...

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...

Loan Pre-Approval Means Nothing

The only Pre-Approval I trust is one that I wrote myself. I got this search engine hit: pre-approved loan underwriter changes terms illegal I have gone over these issues in discussing the pre-qualification. Loan officers are salespersons. There is intense...

You've Got a Great Offer, But Can The Buyer Consummate It? (Cash to Close and Appraised Value)

As a seller, a purchase offer is not money in your pocket. As a matter of fact, accepting the wrong purchase offer can cost you tens of thousands of dollars if the buyers can't consummate. I recently dealt with...

Mortgage Fraud Is Still Happening - What To Do About It

You would think these nitwits would learn. You would think they'd all be out of the business. Sadly, that is not the case. It started innocently enough. It always starts innocently. This was an email I got (specifics redacted). Hi...

Misplaced Improvements in Real Estate

Every so often I'll say something about misplaced improvements. You may be wondering what a misplaced improvement is. Simply put, it's something that stands out above the surrounding properties so far that they pull it down. Like having a mansion...

Buyer's Basic Guide to The Foreclosure Process and REOs

I've written articles on when you can't make your mortgage payment and how to react if you see foreclosure coming in time to do something about it, and even on Short Payoffs, but all of those are owner (seller) oriented....

When The Buyer And Seller Can't Agree On A Price For Real Estate

"overpriced house offer rejected what next" (Before I get started, I want to make it clear that I am using the same definition of worth found in this article. The property is worth what the seller can actually get a...

If You Need A Loan To Buy A Home, You Need A 60 Day Escrow

Minimum Time was, a few short years ago, when I could reliably do a purchase money loan in two and a half weeks. That has now changed. There are three separate delays of one to two weeks that have been...

How Much Down Payment Do I Need and How Do I Get It?

With housing prices having crashed in most of the higher cost areas of the country, many people who were formerly priced completely out of the market have become interested once again in purchasing property. The drawback is that because...

Why Do I Want A Buyer's Agent?

Got this search: "should I get a buyer's agent if I've already found a house" The answer is almost certainly yes, but I am going to examine both the pros and cons. Full disclosure: This is most of what I...

With The Tightening of Loan Standards, Will You Qualify For The Loan To Buy Real Estate?

With a lot of people running around like Chicken Little screaming about the sky falling, a lot of folks who would like to buy property due to the much-lowered prices are wondering if there is any way they can...

Buyers Should Never Pay to Repair A Property They Don't Own

I got a phone call from some out of state relatives looking to buy their first home. They want to buy a lender-owned property, but the only loan they have the down payment for is FHA. FHA has a few...