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Pat Lord's Discussions

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Pat Lord wrote:

 

2nd house purchase

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You do not qualify for that price range. Credit scores need improvement. Perhaps too many inquires or open credit cards? You need to pay the credit cards off to start moving back up. Do you have old judgements or lates? Clean up the bad stuff ... it is there some where?
January 19
(0)

I have a friend who is interested in a lease option to buy my home.

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If you have a purchaser and attorneys, it will be costly but they can handle it for you. You might be surprised that it may cost more than an agent? Hourly attorney fees times two may be more than you bargained for. Often, agents will take a discount on the commisson, if you have a buyer in hand. Maybe even a flat fee in your area?
January 19
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Do listing agents pay for videos of their listings?

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Videographers in Seattle charge $100-$150 per listing. It is not a high paying job by the time you subtract costs of doing busienss. More agents are cutting over to stiching photo systems and taking their own shots. Top franchise companies like RE/MAX have the agents do their own shots and offer professional classes and tips on the RE/MAX Satelite Network (RSN) that teaches how to do these things. Videographers may be out dated soon.Too hard to get them to service the areas they are needed in. Mostly they are starving artists. There are always a few exceptions but I would encourage his talents else where. Sounds like the idea is 5 tro 10 years too late. Technology is marching on. 
January 20
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Unethical short sale companies ...
Just wanted to remind sellers to be careful of the short sale companies. They have been mostly bad news. Lots of promises but little follow through!Never pay in advance for short sale service. Never use a short sale company! Even when they say, the charge notihing until the house sells or nothing unless the house sells. The costs are buried in the transaciton. Insist on the selling agent getting a full commisson. Thier commisison should be at least half of the total commisson. Usually the selling office recieves 3% or at the low end 2.5%. The selling office should get the lions portion. If it is less than that, agents tend not to show your home. This may cause you to go into foreclosure. As you won't have much time to play around and time is of the escense.We are seeing listing agents take way over half ot the commission and the house just sits on the market unshown. The buyers agent is more important to care for, than the lisitng agent. They have what you need most ... the buyer.It is best to use a listing agent who is experienced in short sales. They should have at least 7-10 years as a licensed agent. Forget about the short sale companies ... it is another level of fees. Inevitably those fees can be so high that it will make you lose your sale. Lien holders will only pay or reduce the price by so much. The listing agent should have a team to get your negotiaton done. There is  no need for the bank to be double charged.  That all comes back to the consmers!Be agressive on your price and move that property!Make sure your agent is not part owner in a short sale company. They are the kiss of death .... Be safe!
July 17
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Are full time there agents out there that are actually still using traditional split commissions?

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We charge $49.95 a month for 100% programs. We also have larger fees for unlimited transactions. Splits don't work when there is a recession like this. Also huge desk fees are now a waste of money!
September 22
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