“If I Can’t Get My Price . . . I’ll Rent It!” Lots of Buyers’ agents — myself included — have heard that line lately from Listing agents (representing Sellers). How credible is that threat? My take is that it depends on the following variables: –Condition. The nicer the home, the less believable. A Seller...Read More
Note the (Very) Fine Print One of the sleazier come-on’s I’ve seen the last few years is a very official looking document — complete with a “Case Number” and Department of Housing and Urban Development (“HUD”) seal (right) — that begins like this (all italics theirs): Dear [Home owner]: Your home loan has gone under review for the...Read More
Testing an Unrealistic Seller It seems to be happening a lot in today’s housing market: Buyers find something they like, but — based on the Comp’s — the Seller’s price appears to be high. What to do? One option is to simply wait. Overpriced listings have a way of coming down to earth, and Buyers...Read More
Getting Busted for the Cover-Up — Not the Crime I have no idea — based on the handful of stories I’ve read — if MF Global broke any laws, and if so, whether it will face prosecution. But if so, here’s my guess what the company and/or its principals will ultimately be charged with: not engaging in the ruinous, numbingly...Read More
Legal Minutiae It’s not unusual in the course of a real estate deal for numerous terms to change — and others to be added. What’s the best way to document that evolution? My personal preference is a one page Counter-Offer Addendum that effectively rides on top of all the preceding documents. Not only does that cleanly...Read More
“No Stairs to Basement” “Use caution, stairs removed leading to lowest level. Be sure to turn off all lights and lock all doors.” –Showing instructions, MLS listing Showing instructions are usually pretty mundane: besides telling the Buyer’s agent the access code and lockbox location, they typically just request that the showing agent “please remove shoes,...Read More
