Profile picture for Steve Riddle

Steve Riddle

Agent

Associate Broker, New York State Associate Broker (18 years experience)

5 Recent Sales (last 12 months)

Specialties:
Buyer's Agent,
Listing Agent,
Relocation,
Foreclosure

Advice

  • (17 Contributions,
  • 1 Best Answers,
  • 2 Helpful)

Contributions are sorted newest to oldest.

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!

  (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.

  (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. 

  (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.

  (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.  

  (0)