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Steve Riddle's Advice

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  • 17 Contributions
  • 1 Best Answers
  • 2 Helpful

Steve Riddle wrote:

what doese this logo mean to you as a homebuyer?

Answer
It sounds like you are someone that could benefit from taking the REBAC ABR course. Most Realtors have a hard time articulating their need to get paid for their services. As a realtor you should have some understanding of the need to enter into a contract to protect yourself against unethical behavior on a buyers part. Taking this course isn't the only requirement to qualify to as a ABR, it is only the begining. Besides demonstrating acting in the best interest of your Buyer Client, you must complete 5 contracts showing that you did so and disclose to rebac those Buyer agency forms, Hud Statement, and broker notes. "wetdawgs" If you think this is just as simmple as paying a fee, go for it! Just be prepared to fail your exams, dedicate an ungodly amount of time to conduct research outside of the MLS, and be put away wet afterwards. A good ABR will conduct himself at broker level. Come to an agreement of representation, Complete multiple packages of Due dil on each listing, and provide more then mere sales talk on the properties of interest to his Client!
September 11 2012
(1)

How do you enter a property that is a teardown candidate - so it shows up as lot/land?

Answer
If a property has an improvement on it, it is not a Lot but an improved lot.For it to be a lot you would have to remove the improvement and file it with the local authority.
September 11 2012
(0)

Where can I get a 120 day loan to buy a house?

Answer
You need not get a loan at all. Put in an offer with a Buyer's rep. It will require a binder.  Set your closing date on a all cash offer with POF.
September 11 2012
(0)

Could J1 researcher buy a codon in the US by cash?

Answer
You can buy any Lawful asset you like. Yes even a home. Any realtor that tells you otherwise is WRONG. 
September 11 2012
(1)

Do listing agents lie and say there are multiple offers when there are not?

Answer
Get your own Agent. A buyer's Rep. They will know how to handle this situation and advise you on how to proceed.  Realtors have a certain tool set that compels the listing Agent. Look for a buyer's Rep that is a ABR.
September 11 2012
(0)

want to make an offer on a homepath home, to live in, needs some work, they are asking 170k,

Answer
Your offer on the property will always be countered. Very often offers of 20% will be countered @ 15%. Example A 100K listing that has a 80K offer will be countered at 85K.  All 203K streamlined mortgages (30K and under) will require nothing more then Closing, having work completed and getting your inspection by the issuing bank. just remember, if you accept a FHA loan you will be paying a huge nut in the form of Mortgage insurance. Up to as much as 100 basis points on the mortgage, Example: a 700K mortgage will run you 700 bucks per month. For this reason, consult with a Mortgage broker. Do not go to a bank for your mortgage! Go see a broker!  If you can snag the house for 20%  discount to ask, and you are putting that 20% back into the house, you are still paying market value.
September 11 2012
(0)

Repairs as a condition of sale not performed properly - discovered after closing. what to do?

Answer
1.st, Did your contract for purchase have a "repair escrow"2.nd Inform your Atty. in writing of the current existence of a "remedied problem". Do this in writing.3 rd, Ask your Atty for his E&O claims solutions.4. Did you pay your inspector to verify the remediation of the issue prior to closing.Be prepared to have the problem fixed out of pocket.Get 3 estimates detailing the cause and extent of the issue.Negotiate the lowest price in writing from each of these contractors. Do this in separate estimates.Present this to your Atty, and ask him, how am I to proceed to recover these damages.As far as Some would assume here that your Agent or broker is at some level of fault. That would only be established if  Your Agent or broker was an expert who guaranteed another's work, received undisclosed proceeds in the performance of the remediation, or had a vested interest in causing your harm. In as much as you have stated, "it would have had to rain on the closing day" I assume you did have a walk through prior to closing but did not have a repair escrow established. 
September 10 2012
(0)

i want to see if I can sell my home before the listing.

Answer
Have you already entered into an agreement with a listing agent? If so and you are listing it as FSBO, be prepared to have a big fight with your Agent. especially if they have gone through all the work of conducting a CMV and CMA. Not to mention even if you have a listing agreement that allows for you to sell, it most likely doesn't allow you to "cut" out your Agent. Be honest with your agent, They are a partner in your transaction.
September 10 2012
(0)

Ridiculous and Unfair Price Changes

Answer
Zillow isn't the deciding factor in the value of your home. First, Have you filed for a tax grievance? Have other homes within a 6 block radius been on the market for longer then 6 months?Have for sale homes in the same radius had price reductions?Even worse, Have then been no arms length sales in 6 months or longer?CMV is based on Other recent sales, check CMA's.  
September 10 2012
(0)

How do I stop the thief who has taken my rental listing?

Answer
Copy the department of state on your complaint to your MLS.
September 10 2012
(0)