repairs: REO Sales - How to get more of them closed - 10/02/08 04:55 PM
I was just on a panel this morning with an REO Assett manager from Wacovia bank. Let me share some of the ideas that he and I gave to the attendees:
If you can, always talk with the listing agent before you write an offer. Each bank has its own quirks, … (4 comments)
repairs: Beware of the REO Bank's Counter - it can hurt the buyer - Part III - 09/17/08 06:24 PM
I don't know how often I hear from agents that after making an offer, they got back an addendum from the REO Asset manager. NO, it is a counter offer. Anytime, the terms are changed, before the parties are in contract, we should be calling this a counter offer. The problem … (1 comments)
If you have read my blog or resume on my home page, you know that I am frequently hired by attorneys when agents are being sued. Sometimes, I am there to defend them, and too often, I am there to help sue them. I do not hold agents … (6 comments)
repairs: Stay away from Class C low income property - 06/04/08 07:22 PM
Unless you know what you are doing, I would suggest you don't sell Class C property, especially if low income or Ghetto property. These properties typically have great potential and too often look like good deal but they are not right for unsophisticated buyers. Here are some of the issues
Higher … (1 comments)
repairs: More mistakes agents make when selling income property - 06/02/08 08:47 PM
The biggest thing is the most investors are not really sophisticated. And, unless they have a professional propety manager (and that isn't always the case), it is very difficult to get the documents you need to property analyze a property. One of the mistakes is to wait until the seller provides … (1 comments)
repairs: How I made a lot of agents made - Part 2 - 05/12/08 11:51 AM
I guess I wasn't very clear or persuavive in my earlier post criticizying Dual Agency. Several comments took the position that they do it all the time and their clients were happy. One even said that they wanted to create a win/win situation. Oh good, let's all hug!
They are missing … (1 comments)
repairs: The downside of Pre-closing Walk Through Inspection - 05/09/08 01:09 AM
As you know, just prior to close, most real estate contracts include a clause that allows the buyer to make one last inspection of the property. The main reason for this inspection is to insure the house is still there but most of all, it is to verify that any repairs … (2 comments)
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I was just on a panel this morning with an REO Assett manager from Wacovia bank. Let me share some of the ideas that he and I gave to the attendees:
