Entries from Searchlight Crusade tagged with 'negotiation'

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. There is always a reason for a low asking price. Sometimes that reason is something you can deal...

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...

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...

Some Risks of Lender Owned Properties (REO)

I have found your blog to be very informative. I was out riding my bike and rode past a house for sale. In a few minutes of Internet research I've found out a bit about it. The property is...

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...

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...

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...