“You Know One When You See One” “The race is not to the swift, nor the battle to the strong ” but that’s the way to bet.” -—Ecclesiastes (with an assist from Damon Runyon). For the benefit of non-Realtors, here’s a “Top Ten” List of ways that Realtors know that a home Buyer is serious....Read More
Listing Agents Who Call the Buyer’s Lender As a Buyer’s agent, how can you tell if the listing agent (representing the Seller) is taking your client’s offer seriously? They call the Buyer’s lender ” specifically, the lender on the Buyer’s Pre-Approval letter ” and verify key information. Like, whether they’ve previously worked with the Buyer; the...Read More
The REAL Purpose of Appraisals What is the purpose of an appraisal, in the context of a residential real estate sale? To make sure that, if the Buyer defaults on their loan and the lender ultimately forecloses, the value of the collateral is sufficient to make the lender whole. Or, in plain English: if the...Read More
Lender-Speak, Translated What they said: “the check’s in the mail.’ Translation: “I’m late paying the bills.’ What they said: “The dog ate my homework.’ Translation: “I didn’t do the assignment.’ What they said: “I have been holding off on submitting the file until we are within 60 days of closing (for both the rate lock and because the...Read More
What’s in a Word? “Imˈ- pound”: seize and take legal custody of something — especially a vehicle, goods, or documents — because of an infringement of a law or regulation. –Dictionary definition Once upon a time, the fees that lenders collected in advance from home buyers for such things as property taxes and home insurance...Read More
The Too-Good-to-Be-True Buyer Client (Hint: They Probably Are) It doesn’t happen a lot — especially in a Seller’s market with (very) limited choices — but once in a while Buyers’ agents run into the client who seemingly likes everything. What’s up with that? That “Uh-Oh” Feeling Possibility #1 is that the Buyer has a need-to-please...Read More
