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short sales: Protecting your Buyers & Yourself: Bank "Trick" #4 - 10/16/08 07:35 AM
I was in shock when I read this most recent addition to a contract with a bank addendum because it essentially gave the bank carte-blanche over the P&S.
Article 15.  The Seller reserves the right to terminate the Contract for any reason in its sole discretion.  Should the Seller terminate this contract, the Seller's sole liability to the Buyer will be to return the Buyer's deposit, at which time the Contract and all addendums thereto shall cease and terminate and Seller and Buyer shall have no further obligations, liabilities, or responsibilities to one another.
In the dozens of addendums I've had the opportunity to … (13 comments)

short sales: Protecting your Buyers & Yourself: Bank "Trick" #3 - 10/16/08 07:02 AM
With the current economy the way it is right now and foreclosures rolling into the market in waves, I'm sure many of my fellow agents have seen this clause already, but buyers may not have.  The importance being, make sure you disclose the following clause to your buyers and the lender they are working with so all parties understand the timetable they are bound by.
Article 10.  (Which can vary) Buyer(s) may take possession after the final closing papers are signed by the Seller and the Contract is funded.  Possession to the property may not be taken before the occurrence of both … (4 comments)

short sales: Need Help With Short-sales? - 03/07/08 05:25 AM
     I've been selling real estate going on six years now and the market is certainly different now than when I first got into it.  Setting the market aside, I think we agents need to grow and conform to the both the needs of our clients and the market itself.  We are in the middle of what is arguably the worst market in the last decade,  yet I am having my best month ever and there's no end in sight.  My business is littered right now with both buyers and sellers involved in short-sales and foreclosures.  When I first started working … (4 comments)

 
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Joshua Matthews

Wakefield, NH

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Keller Williams Coastal Realty

Address: 501 Islington Street Suite 2, Portsmouth, NH, 03801

Office Phone: (603) 610-8500 x 576

Cell Phone: (603) 781-4030

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