Wouldn’t That Make it an FHA Home?? If Realtors can’t keep it straight, I doubt non-professionals can, either. So, for the record, a “HUD home” is a home that was financed by FHA, defaulted, and is now owned by the Department of Housing and Urban Development (by the time that happens, the lender has long...Read More
Can You Say, “Legal Mess?” Buyer is aware that property may be currently occupied & financing must be cash only. Seller may not be able to convey possession at the time of closing. Eviction proceedings may have begun. –Excerpt, MLS There’s one too many “may” and “maybe’s” in the foregoing MLS excerpt for my clients....Read More
(Also Known as “Serendipitous Showings”) Teresa Boardman (St. Paul Real Estate Blog) has a nice post giving the agent’s side of why, just maybe, you may not be able to show a prospective Buyer you’ve never met a home on the other side of town at 4 p.m. when they call at 3:10 p.m. The...Read More
“Name . . . That . . . Tune Market Time!!” I’d be terrible at “Name that Tune” (I’m tone-deaf and know next to nothing about contemporary music — or any other kind). If you blindfolded me, I couldn’t tell you if I was smelling a rose or rotten eggs (my sense of smell is worse than my musical aptitude). But if I went...Read More
Diagnosis: Lack of Buyer Motivation Key Symptom: Failure to Progress I certainly don’t do it often, but every couple years or so I find it necessary to “fire” a Buyer I’ve been working with. Or shall I say “non-Buyer.” While the specifics can and do vary, the root cause is invariably the same: lack of...Read More
As part of an offer I presented the other night, I included the world’s smallest earnest money check. Not the amount — there’s not much chance of consummating a deal when the Buyer’s earnest money is infinitesimal. Rather, the check I delivered was literally tiny. My client didn’t haven’t their checkbook with them when we...Read More
