Entries from Searchlight Crusade tagged with 'buyers'
Seller Paid Closing Costs (or, When Your Prospective Buyer Has No Money)
In many transactions when I originally wrote this, the buyer has absolutely no money, or an amount that was not sufficient to pay the costs that they would traditionally be expected to pay in order to close the transaction. Today,...
How to Use Internet Based Real Estate and House Hunting Sites
As with anything you find on the internet, the critical thing to keep in mind with internet real estate is that it is subject to input control. In plain English, you only see what they want you to see....
Ill-Considered Real Estate Offers and Contracts
There's an old literary tradition that cautions the reader to "Be careful what you ask for. You may get it." Many real estate purchase offers are good illustrations of that principle. The rule followed by good agents is, "Never...
Writing Real Estate Purchase Offers to Beat Higher Competing Offers
This article was inspired by closing one of many transactions where my clients did not make the high bid (or even close), but did get the fully negotiated purchase contract and the property. By building an airtight case that...
Consult a Loan Officer Before You Make a Purchase Offer
I don't know how many people have told me the story of the Purchase Offer That Was Accepted But Couldn't Be Done. They come to me because they lost their deposit or are about to and they want some way...
Why Buyers Should Avoid Short Sales
I've been saying this for a long time: Short sales are poison for buyers. I don't know why people encourage buyers to look at short sales, because there is no advantage for buyers that I am aware of. In...
Real Estate: Giving Someone a Monopoly Does Not Encourage Top Performance
From an e-mail I've been talking to agents lately and I ask them about the things I've learned about from your site. I thought I would say things like "I want to apply for a backup loan" and they would...
Pretending the Service Equation is Simpler Than It Is
Way back when I was just out of high school, I was doing a lot of things with my time. Working, dating, competing on the fencing team, gaming of various sorts. But every once in a while, I dropped...
Real Estate: Know What Can Be Fixed and What Can't, What's Profitable and What Isn't
It's a well known fact that not all factors in real estate are equally important, and not all property investments perform equally well. A critical part of successfully choosing the right property, whether it's for investment or personal use, lies...
My Sixty Second Public Service Announcement about Buying Real Estate
Here was an idea I had: Pack a list of the most important things consumers need to know about buying real estate, as packed into the words I can say in sixty seconds without sounding like an over-clocked squirrel. Here...
Consumer Due Diligence on Real Estate and Mortgage Loans
Or: Please don't believe everything you read on the internet! Rarely a week passes by that I don't get a request from someone to link to their website or article. I'm happy to link to good sites and good articles...
Selling In Buyer's Markets: Do You Need to Sell Or Are You Part of The Problem?
One of the things that sticks out about buyer's markets is that there are two sorts of listings: Those who are willing to do whatever it takes, anything it takes, to get the property sold, and the other who apparently...
Listing Agents Who Want Both Halves of The Commission
I went out previewing properties a couple days ago. That particular client's situation being what it is, I was concentrating on vacant properties. But over half the vacant properties in that area had restricted showing instructions. "Call agent first," or...
How to Tell A Good Real Estate Market Article From A Bad One
Don Henley has a fun song off his second solo album called "Driving With Your Eyes Closed". I can't find a video performance, but here are the lyrics. It's got a chorus that ends with the line, "You're gonna hit...
Steering: The Most Violated Law In Real Estate
I just picked a random ZIP code in my local MLS, and out of the first twenty listings I came to, ten had explicit violations of one or more of the sections of RESPA regarding steering right there in the...
Non-Exclusive Buyer's Agency Contract - A Bet Consumers Can't Lose
There are two sorts of buyer's agency contracts, exclusive and non-exclusive. Note that this has nothing to do with Exclusive Buyer's Agents, who do not accept property for listing. I disagree with their reasoning on the virtues of doing...
Finding Bargain Real Estate: Work With the Buyer's Agent Who Actually Finds The Bargain!
Several times a month I get calls and emails. Sometimes, it's even people stopping in. "I've heard you're good at finding bargains." Well, yes I am. "Please tell me the addresses of some bargains so I can drive by."...
The Perfect Time To Buy Real Estate
There is no such thing as the perfect time to buy. The perfect time to buy would mean that you have all kinds of leverage, and can make sellers give you pretty much the deal you want, but prices are...
Real Estate and the Four Levels of Competence
People who talk about learning skills tend to discuss a model for learning called the conscious competence learning model. It starts with unconscious incompetence. You not only don't know how to do something, you don't realize that it is...
The Mortgage Loan Market Controls the Real Estate Market
One of the things I keep telling folks about the real estate market, whatever area you live in, is that it is controlled by the loan market. If you want to understand where real estate in general is headed, look...
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