selling: What does it matter who or what your agent is? - 07/28/11 12:27 PM
Do you ever take notice of who or what you real estate agent actually is, go on, I'll wait take a look at their business card again, how do they describe them self?
Salesperson - Realtor - Associate Broker - Broker - Consultant - Real Estate Agent
Are they part time or full time? Did you ask? How many transactions did they do last year? Do you think it is important to know a little about your agent before you sign a contract with them?
Salesperson - someone who has 60 hours of education and passed the state and national real estate exam … (0 comments)
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selling: Running the rapids - 05/19/11 05:53 PM
Setting out on a journey is always so exciting, everyone is filled with enthusiasm, dreaming of the destination, thinking about what they are going to do when they get there, what they will buy, they often forget the challenges they may encounter on the way.
Real estate is just like that, there are many simple steps to buying or selling, everyone can do it, but there are many things that can go wrong with poor planning or lack of foresight. Anyone can get lost without a GPS or map, you need to know where you are going and how you … (0 comments)
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selling: Main Line Philadelphia market in Devon and Wayne area seems to be moving - 09/23/10 08:41 AM
This past week, I have gone to make appointments for an out of town client only to find several houses that have just come on the market are under offer. Good news for our area, bad news for buyers as many still think it is a buyers market.
Now we don't know till they settle if these houses sold for asking price, or if they will make it through the inspections and mortgage contingencies without problems to settlement. However, it is an indication that there are buyers out there, with the low mortgage rates, who are prepared to get off the fence if … (0 comments)
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selling: An Explanation of Pennsylvania Agreement of Sale Part 9 - The End - 12/11/07 03:33 PM
PA Agreement of Sale Part 9
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
The three paragraphs that start this page are all important to understand as they impact the agreement, its breach and any damages the seller can recoup.
Paragraph 28 deals with Representations. How I usually sum sub-paragraph A up is that everything needs to be written down and signed by everyone that they agree with what is written down. Don't accept anyone's word, the seller, the buyer or either of the agents in the transaction, any brochures or promotional material or even advertising. Only what … (0 comments)
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selling: An Explanation of Pennsylvania Agreement of Sale Part 8 - 12/09/07 07:03 PM
PA Agreement of Sale Part 8
Part 1
Part 2
Part 3
Part 4
Part 5
Part 6
Part 7
Part 9
Paragraph 21 deals with Maintenance and Risk of Loss. I have actually blogged on this and a good example of this is Why you need to keep your home insured until settlement. There are three parts to this paragraph.
Sub-paragraph A states that seller will maintain the property, grounds and fixtures specifically listed in this agreement in their present condition excepting normal wear and tear. Sub-paragraph B deals with any system or appliance breaks or fails before settlement. The seller has two basic choices. 1) … (0 comments)
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selling: Is it worth doing? - 12/04/07 03:16 PM
This month Realtor Magazine releases its report on Cost vs Value for the nation and identifies what remodelling projects are worth doing. It covers upscale and mid range projects and discusses the actual cost and the return on the investment when selling. What comes out at the top of the list are exterior projects that add to curb value. But what about our local area compared to a national report. However, I always advise customers do not wait till you are selling to do upgrades as you never get everything back. Plan those upgrades early and get some personal benefit from … (0 comments)
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selling: An Explanation of the Pennsylvania Agreement of Sale Part 6 - 11/30/07 03:46 PM
PA Agreement of Sale Part 6
Part 1
Part 2
Part 3
Part 4
Part 5
Part 7
Part 8
Part 9
We are nearing the end, I promise. Sorry this has taken so long to post in its entirety, let me know if this helps. Sometimes trying to explain it is as wordy as what you are trying to explain or worse. There is an official explanation that you can purchase which is available from Pennsylvania Association of Realtors.
Page 6 continues with Paragraph 15 dealing with the Status of Sewer. The type of sewer system is marked in part A. Part B deals with Individual … (0 comments)
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selling: An explanation of Pennsylvania Agreement of Sale Part 5 - 11/16/07 05:52 PM
PA Agreement of Sale part 5
Part 1
Part 2
Part 3
Part 4
Part 6
Part 7
Part 8
Part 9
Page 5 of the Agreement of Sale is quite simple. I always find that pages 1 thru 4 take the longest to complete, after that it moves much faster.
Paragraph 12 handles Wood Infestation inspection contingency. Obviously this can be waived or elected. If waived our usual paragraph 27 the Release is agreed upon as well.
If elected the number of days is selected again running from the execution of the contract. Paragraph A says the inspection is at the buyer's expense and will be carried … (0 comments)
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selling: An Explanation of Pennsylvania Agreement of Sale Part 4 - 11/08/07 02:11 PM
PA Agreement of Sale Part 4
Part 1
Part 2
Part 3
Part 5
Part 6
Part 7
Part 8
Part 9
Paragraph 10 headed Inspection Contingency Options is the controlling paragraph for the 4 following paragraphs. It describes the 2 options available between the buyer and seller and the possible results under these options.
Option 1 applies within the contingency period as selected and stated in paragraphs 11-15. There are three possible results of the inspections. 1) The buyer can accept the property as it is and release all parties under paragraph 27. 2) If the buyer is not satisfied with the inspections the buyer … (0 comments)
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selling: An explanation of Pennsylvania Agreement of Sale Part 3 - 11/01/07 09:14 AM
PA Agreement of Sale Part 3
Part 1
Part 2
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9
A short post today to complete Page 3.
Page continues with Paragraph 7 revised in September 2005 which is a warning about meeting deadlines. If the agreement is contingent upon inspections and/or repairs, insurability, environmental conditions etc, if these are not carried out by the times stated in the agreement it is the same as if the contingency has been waived and the Buyer accepts the property and agrees to the RELEASE stated in Paragraph 27. This is one of the duties of the Buyers agent … (0 comments)
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selling: An Explanation of the Pennsylvania Agreement of Sale Part 2 - 10/30/07 05:42 PM
PA Agreement of Sale Part 2
Continuing with our explanation of the PA Agreement of Sale (AOS) we will start at the top of page 2. If you want to read other parts of this explanation
Part 1
Part 3
Part 4
Part 5
Part 6
Part 7
Part 8
Part 9
Paragraph 4 A deals with Fixtures and personal property, this paragraph was revised in September 2005. It deals with items included in the sale of the home. Anything permanently installed which is free of liens, such as plumbing, heating lighting fixtures (including chandeliers and ceiling fans) etc. I will tell prospective sellers if they want to … (0 comments)
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selling: An explanation of The PA Agreement of Sale Part 1 - 10/29/07 03:40 PM
The PA Agreement of Sale (AOS) is 10 pages long, 11 if you include the Lead-based paint hazards disclosure and inspection contingency addendum and consists of 34 paragraphs and 622 lines excluding Notices on the back of the pre-printed pages, which can take it to 17 pages. It is continually being updated due to revisions through use and often law suits which have arisen as a result. Each paragraph states when it was last updated. This agreement is most commonly used in resales of existing homes. Builders will often have their own contracts. Whether you are a buyer or seller it … (1 comments)
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