Entries from Searchlight Crusade tagged with 'sellers'

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...

You Must Be Willing To Act In Order to Get Any Benefit

On a very regular basis, pretty much every buyer's agent who's worth anything gets clients who have difficulty making a decision. Not too long ago, I found a solid property with great potential that nonetheless needed about $20,000 of cosmetic...

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...

Title Deeds And The Form They Should Take

On a forum I frequent, someone posted this advice for prospective property purchasers: At closing, at the title office or bank, when signing the title, contract for sale or any transfer instrument (use a single obliterating line) mark out the...

Lipstick on a Pig: Selling the Property You Should Never Have Bought

Lots of properties have some kind of problem with them. Maybe you bought in full recognizance because of something else about the property, but probably not. Mostly it's directly a result of not spending the effort to find a good...

Real Estate is More Local Than Most People Think

When I'm doing my initial automated search for properties for my buyer clients, I always pay close attention to listings represented by agents out of the immediate area. Why? Because an agent from fifteen or twenty miles away probably has...

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...

Deadlines in Real Estate Transactions

Not too long ago on a property I was selling I called an agent up on the day a transaction was supposed to close. He asked me the question, "Well who says it has to close today?" "The contract that...

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...

Buying One Property While Selling Another

Most people don't stay in their first house their whole life. At some point, they want to move to a different home. There are several ways to approach the transaction, but you have to decide which way fits you. You...

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...

Privacy Concerns in Real Estate Transactions

Every once in a while I get someone who is unhappy with required paperwork for privacy reasons. There are three forms that are the driving force behind this. The first is the standard form for a mortgage loan application, known...

What Type of Real Estate Listing Agent to Choose

On a regular basis, I see advertisements for real estate offices that say "discount broker - full service". This is nonsense. Actually, it is a calculated lie. A discount broker has consciously chosen a business model whose economics do not...

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...

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...