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realtor: Buyers can't make seller disclosures - 10/26/07 05:08 PM
In the hurry to get things done quickly, buyers' agents often will have clients fill out blank disclaimers and blank lead based paint disclosures for the listing agent to have the sellers sign. For agents who do this: DON'T!!
The law in most states (my guess is all states) is that sellers have to provide buyers signed disclaimers/disclosures. HUD requires the seller/landlord provide a buyer/tenant a completed lead base paint disclosure and if there are know lead hazards, any records or inspection reports.
If buyers do not get the disclosure/disclaimer at contract time they have a 3 day review/recession period on the contract. If they don't' get it … (4 comments)
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realtor: check list to getting home ready to sell - 10/23/07 06:41 PM
If you are getting ready to sell, here is an easy check list of what to do.
Make Repairs:
If there is wood rot, broken windows, damaged shingles or other visible damage, then have it repaired. It's a lot easier to sell a home that is mechanically and physically in shape. Fixing items before a home inspection also allows the items to be repaired more economically because the seller can make repairs without having to abide by sometime unreasonable repair recommendations. Buyers also hate to see repair items because they fear the home has not been care for by the sellers.
Cosmetic Items are cheap:
To quote a local … (1 comments)
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realtor: the work really starts after the contract is written - 10/23/07 01:36 PM
Once the contract is written, the job of a good Realtor has really just begun. So has the job of a host of people including lenders, attorneys, title companies, insurance agents, home warranty companies and so on.
The beginning: Writing the contract.
Once the contract is written, the closing process is underway. (This document is geared toward the Richmond Virginia Market and there are minor to major differences in other areas of the state and country.) The contract must be sent to the following parties:
LendersAttorneys/Settlement AgentsBoth Real Estate FirmsBuyers and SellersThe closing process happens on several different levels before it all comes together … (4 comments)
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realtor: It's not the Fed that keeps long term interest rates low - 10/18/07 08:02 AM
It's become common for the public to watch the actions of the Federal Reserve, thinking that their raising and lower of interest rates will have some affect on home mortgage rates.
The truth is that what the Fed does has very little impact on interest rates for most home mortgages. To understand what drives long-term mortgage interest rates you must understand where the money for home mortgages originates.
Home mortgage money comes primarily from investors. Once a mortgage is made to a homeowner it is sold on the "secondary" market and packaged with other mortgages becoming a "mortgage-backed security." This security is … (0 comments)
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realtor: Let's spread some sunshine - 10/17/07 07:29 AM
Now is an amazing time to buy real estate!
Interest rates are historically low. There is lots of inventory. Builders are making deals. The sun is shining. The birds are singing and the crisp autumn breeze on my face makes me happy to be alive! Gosh, I feel like singing show tunes.
If you are in Real Estate, that is what ought to be running through your head and flowing from your mouth. Sure things are a bit tough now. We all know that, but the public is hearing enough of the bad stuff from the media. Bad news sells better than good news.
We have been through … (4 comments)
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realtor: Inexpensive tips to increase your business - 10/13/07 09:56 PM
While there are many ways to market yourself as a Realtor, here are a few inexpensive methods that you may have overlooked.
When in public, always wear a name tag that says who you are and what firm you work for. It may sound corny, but I guarantee it will prompt people to ask you about real estate. The best name tags are magnetic and don't ruin clothing as easily as the ones that use pins.
I know this will bring jeers, but car magnets are also great conversation pieces. You might want to get something a little nicer looking than just the … (10 comments)
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realtor: Feedback can turn a stale listing into a paycheck - 10/12/07 03:24 PM
Your listing isn't selling. Trust me you are not alone. However, your clients really "need" to sell and you feel frustrated - what can you do?
The answer is simple - give your sellers regular feedback on showings and on changes in the market.
Calling for feedback from showings is the key to getting any home sold - particularly a home that is for sale in a down market. Your clients need to know what buyers are thinking about their home. If you don't call for feedback from each and every agent who shows your listings, you are missing a great opportunity. … (5 comments)
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realtor: If you are moving why wait? - 10/06/07 08:10 AM
What is so bad with the housing market? Nothing!
Interest rates for fixed mortgages are historically low. Inventory is high. Sure we have seen the risky side of lending take a hit, but if you are a regular owner-occupant buyer things look pretty good on the buying front.
Now might be the best time for home buyers in years. There is plenty to look at. On the resale front you might actually have some negotiating room. On the new construction front, builders are making deals.
If you are looking to move up to a larger home, things are good too. I've had clients say they want to … (0 comments)
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realtor: What did I just sign? - 10/05/07 10:06 AM
What did you just sign?
In the rush to buy a home, most people grant at best a cursory look to the documents they sign when making a purchase offer. Buyers typically focus on the offer price and closing date and pay little attention the rest of the contract.
The documents you sign when buying a home are important and do not always favor a buyer. There are many so-called "standard" contracts used in the Richmond area and the provisions within those documents can be as different as night and day.
Fortunately most buyers use a Realtor and have an attorney to advise them … (3 comments)
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Gary's advice can help you take your real estate career to the next level. He also offers advice on buying and selling Real Estate in Richmond, Virginia and surrounding areas such as Henrico County, Chesterfield County, Hanover County, Richmond, Goochland.
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