buyer representation: Two Breaches Don't Make a Right...
- 08/30/09 11:34 PM
We do a lot of transactions that involve buying or selling properties that are ‘distressed’ properties. The dictionary defines distress as: a state of extreme necessity or misfortune. A distressed property might be anything from a vacant, bank-owned home, a pre-foreclosure that involves tenants being forced to move, or a traditional sale where the sellers are forced to sell and must walk away from a large down payment that has been lost to them in a declining market. Currently, 60%-70% of all homes closing in the Phoenix Metropolitan area would fit into this category. Distressed sales are never ideal for the (0 comments)
buyer representation: You get MORE THAN JUST ME on a 'New Build'
- 04/12/08 08:45 AM
I received a 'panic-call' from a frenzied mother the other day. Her adult child had wandered into a new home community and signed a contract to purchase a home. A phone conversation was completed with the builder's lender at which a conditional loan approval was given to the potential buyer based on income from a job she was most likely going to get when she finished her schooling in the next 6 weeks. The adult daughter has since learned she is pregnant. She will have 2 babies under 18 months old and will not be able to afford the childcare on her (1 comments)