Real Estate Contracts

Agents who don’t read their own contracts

Op Ed

It’s bad enough that banks issue their own As Is Addenda to the standard purchase contract. Those documents usually strip a lot of the typical buyer’s rights away from him/her. Worse, lately I’m finding that the Realtors who work for the banks selling REO foreclosure properties don’t even read their own bank Addenda. Realtors Who [...]

26 August 2010 Read the full article →

All about Federal Fair Housing law

Glossary Posts

This is a reprint of an earlier post. Federal Fair Housing law prohibits discrimination in the sale, rental or financing of housing because of: Race or Color National Origin (the country in which one was born) Religion Sex Familial Status (whether one has children or not, whether married or not) Handicap/Disability Some states include additional [...]

5 August 2010 Read the full article →

Is there a benefit in working with the seller’s Realtor when you buy a home?

Op Ed

Some consumers want to work with the seller’s Realtor because they believe that Realtor will reduce his/her commission if they don’t have to split the commission with a buyer’s Realtor. This thought process continues: a smaller commission reduces the seller’s cost to sell and effectively lowers the buyer’s purchase price. There are a couple of [...]

22 May 2010 Read the full article →

Appraiser’s HVCC Rules on Way Out?

Buyer Help

Oh yay! Oh yay!  I might actually be able to talk to my buyer client’s appraiser again? From mortgage officer Rob Chrisman’s blog, earlier today: …It turns out that the HVCC, which has good intentions but arguably poor implementation and ramifications, could be on its way out. The House Financial Services Committee has just passed [...]

23 October 2009 Read the full article →

Short Sales, A Buyer’s Perspective

Short Sales

Buyer: “The price on that house is so low, and the house looks so good! Is that price in the MLS for real?!” ThePhoenixAgents: “Probably not.” We’re noticing an astounding number of short sale listings in the MLS that are listed for prices that seem too good to be true.  Remember what your dear old [...]

28 August 2009 Read the full article →

More REO Fun

Foreclosures

Dealing with REO purchases is just. So. Much. Fun! Two weeks ago my buyer clients and I received a bank’s verbal acceptance of our offer on their house for sale.  The parties verbally agreed to close August 3. Last week the bank sends back signed docs. Closing date is now August 18. First we heard [...]

18 July 2009 Read the full article →

Do I owe my Agent a Commission?

Buyer Help

A real-life question from our email in-box. Question: Hi, I actually am looking for a bit of advice from a realtor, and I’m hoping you can give me your opinion on this. My cousin who asked a realtor to show her some houses around the city recently found a house that she likes on her [...]

17 July 2009 Read the full article →

Landlords, Need Help?

Real Estate Investing

Landlord:  “Why didn’t you pay the rent on time this month?” Tenant 1: We all had swine flu and we like you so much we didn’t want to give it to you so we didn’t mail the check. Tenant 2: I don’t have time for this now. We’re all going to see the new Star [...]

14 July 2009 Read the full article →