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The importance of a Personal Inspection First

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Wed, 18 May 2011 09:06:38 -0700

Recently I wrote an offer on a home that took quite a bit of work before making the offer. The seller, which happened to be a bank, required that all inspections be done before the offer was made. At first, I thought of what an inconvenience it was to have the property inspected early.

However, the inconvenience was due to paying for the inspection. Yes, I believe a professional inspection needs to be done during the due diligence or free look period. But more importantly, before going through the expense, look things over closely yourself.

I currently have a property under contract on one of my listings. This means that I represent the seller. I know that there are things that need to be done to get the property in good condition. I have asked the buyer's agent to have their buyer to look things over before the due diligence period begins. Why go through the expense of hiring an inspector when you know there is something, as a buyer, you cannot live with.

A buyer should not go blindly into an agreement by not inspecting the property themselves. Look things over. If it looks like something you can go with, place the offer and then hire an inspector during the due diligence period. If the inspector finds something you can't live with, ask for repairs.

But don't go into an offer blindly. It can be costly and also removes the property from the market

Tony Williams
REMAX Unlimited
Certified Distressed Property Expert
www.gahomeinfo.com
404-644-8584

Inspections before offers ??

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Wed, 11 May 2011 07:17:34 -0700

Recently we have seen REO agents requiring that inspections be made on properties before offers are presented. What are your thoughts on this?

The buyer has to invest $300 - $400 for a home inspection just to determine whether to move forward. During the time of inspections other offers may come in and the investment is wasted.

For the first time home buyer, this is traumatic. Your thoughts?

CHASE RECOMMENDS CERTIFIED DISTRESSED PROPERTY EXPERT AGENT (CDPE) TO SELLERS

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Tue, 03 May 2011 20:27:43 -0700

Banks listen to those who are prepared. Look at it from their side. Is the package complete? Are we marketing the property at current market conditions? What can we do to have a successful experience not only for the bank, but most importantly for the public. As difficult as Short Sales are, I still know that in the end we are helping people and properties recover faster.

Via Patty Da Silva, CDPE - Davie REALTOR® - Certified Luxury Short Sale Expert (BROKER - of Green Realty Properties® - 954-667-7253):

CHASE RECOMMENDS CERTIFIED DISTRESSED PROPERTY EXPERT AGENT (CDPE) TO SELLERS

I do a lot of CHASE short sales, so I wasn’t surprised when one of their customers called me, but what I was very pleasantly surprised with, is the mention of the CDPE designation in the letter CHASE sent to their customer.

CHASE is the second-largest bank in the US, and it makes me think that they are having a good experience with CDPEs to go as far as to instruct their distressed sellers to specifically contact a CDPE agent for their short sale.

It shows a lot of support and trust on CHASE’s part, and I believe it gives the CDPE designation even more credibility.

Bravo to CHASE for reaching out to their borrowers! Now if only the rest of the lenders would get this proactive.

Help lots of people and have a great day!

Patty Da Silva, CDPE©, RESS®, AHWD®, e-PRO®, GREEN, CFS, TRC

BROKER - REALTOR® Serving South Florida ::: 954-667-SALE - Green Realty Properties®

Visit www.PattyDaSilva.com & www.GreenRealty.net for SouthEast Florida's best properties.

Copyright © 2008 - 2011 By Patty Da Silva, CDPE©. All Rights Reserved.

Legal Stuff: This article (Contents) reflects the opinion of the author and it is not to be considered legal advice. The author is not an attorney or a CPA. If you are in need of legal or tax advice, it is recommended that you to contact a trusted professional advisor.

Your home was HIT by a tornado... Now What?

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Thu, 28 Apr 2011 12:12:08 -0700

On the evening of April 27th, 2011 literally hundreds of tornadoes hit the southeast. Many have lost their lives. At our home, we were fortunate to actually watch the radar to see the storms go to the north and south.

But what if we were not so fortunate? What if today I found myself digging through the rubble? Thank God, there is no loss of life in our home, but what would I do to get my insurance claim going? Share with all your thoughts of steps to take. What is your experience in a time like this? What is your community/church or civic organization doing to assist those during this difficult time?

Wise choices when buying Distressed Properties

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Wed, 20 Apr 2011 16:39:29 -0700

Making a wise choice to purchase while we can is critical these days. Interest rates have never been lower and the deals are everywhere. But it is very important to understand the process.

Short Sale: The process a seller applies for when they are facing hardship in meeting their resposibility with their lender(s). In this, the seller has the opportunity to sell the property while the bank takes a loss on the balance due. Some people believe the short sale means it is a short sale based on time. This may be true in some instances, but must of the time it takes a longer time. The seller will accept almost anything in an offer, however it is very important to keep the offer in a range that the current lender might accept. Disappointment happens when the offer is too low, too much time rolls along and then the lender turns down the buyer's offer. It is very important that a knowledgeable agent price the property to not only sell, but to also attract the bank's approval. Regardless, the buyer should get a great value if they have the patience to wait out the process.

REO properties or Bank Owned: These are one in the same. Usually the bank has aquired the property during the foreclosure process. The nice thing about this is the buyer knows what to expect or at least very close to it. Many times properties are not only sold at a lower than normal price, they are also refurbished with new paint, carpet and even appliances.

So make a wise choice when looking for a foreclosure. Know the process and remember as a Certified Distressed Property Expert, I can help.

Tony Williams
REMAX Unlimited
404-644-8584
tonywilliams@remax.net
Twitter: tonywilliamss

Just what are Short Sales?

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Fri, 15 Apr 2011 12:31:08 -0700

Today, while visiting with a buyer, I was reminded of the importance of knowing just a few terms that circulate in the real estate world.

This particular buyer stated that they were looking for short sales only because they were such a great deal and they loved the featured that they were "short".

Please keep in mind that the term short sale comes from the purchase price not being sufficient to cover the loan(s) currently on the property. If you see a great purchase price on a property say for $200,000, it may look like a good deal, but keep in mind there is much more under the surface. The price was determined between an agent and a seller and on the front end these prices have usually not been approved by the lender. Wow, the price looks great, however sometimes it is just bait.

Here's what I mean. The seller is trying to get a conversation going that would lead to the offer. The seller will not see proceeds from the sale due to owing the lender more, sometimes much more.

When you make your offer, there may not be anything "short" about it. As matter of fact, the seller will probably approve the offer but that initiates a process from the current lender to give a "conditional approval". This could take just days but could take months. Please keep in mind that there may be an approval or a denial or something in between.

So when making an offer on a "Short Sale", remember, there may be nothing short about it other than what the bank decides.

So what is the best type of property to make an offer on to close without waiting? A property that is not "under water" or a property that is owned by the bank, after foreclosure.

Tony Williams
Certified Distress Property Expert
REMAX Unlimited
Servicing the Atlanta metro market
404-644-8584
www.gahomeinfo.com

Why are we enemies ???

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Fri, 15 Jan 2010 09:53:31 -0800

Isn't it amazing that in the negotiation process one party decides to take on the posture of being in battle? During these days, when a buyer comes along to make an offer, they are your friend. "But they are making such a low offer on my home!", you may say.

First, as difficult as it may seem. This property you are offering will one day not be your "home". Do all you can to make it as if it will be the buyer's "home".

Second, start with a good introduction. Your negotiations whether as a buyer or seller may come down to how the other party is percieved or even treated. Keep the emotions out whenever possible.

Third, these people are your friends. They are solving a problem for you or making life easy to go to the next step. Do all you can to be accomodating.

Everything these days is coming up "green". Remember, these buyers have the "green" you need. Be kind and maybe some of that green will be transferring to your bank account.

I'm just saying; let's keep it real. We are not battling, we are negotiating for something that will bring value to you and/or your family.

Tony Williams
REMAX Unlimited
Serving the Atlanta market for decades.
404-644-8584
www.gahomeinfo.com
www.facebook.com/gahomeinfo
www.twitter.com/tonywilliamss

Trying to sell a condo without "Certificate of Occupancy"

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Sun, 04 Oct 2009 16:00:53 -0700

I have a buyer who wants to put an offer in on a condo that only needs appliances and carpet and then the county will issue a "certificate of occupancy". The unit is owned by the FDIC and of course they will not put in the needed items to finish the deal. I have been to several lenders and they tell me there is nothing that can be done. I thought about a FHA 203k. But there must be a "CO". Any ideas? I have thought about going to a hard money lender for a one month loan and then refi FHA after the original closing and after the CO is completed. Is there a better way?

Tony Williams
REMAX Realty Group
Still making income from Utilities as well.

Fixing this mess with the NQ/NE assumption

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Wed, 11 Feb 2009 21:04:26 -0800

Here's a simple solution to this wild mess our industry is in. It is simple and probably has all kinds of bullet holes, but here is a shot.

Buyers have bought into believing they cannot qualify
Lenders are losing due to negotiating prices way below mortgage balances.
Foreclosures will continue to trigger through January, 2011.
Sellers are losing their homes.

Let's go back to NQ/NE programs.

Non-qualifying allows buyers to walk up and take back what they lost, their dignity.
Non-escalating interest rates stops the foreclosure wagon in it's tracks.
Assumptions will begin increasing the value of properties again. Equity will be given as downpayments.

The banks take less losses by taking a fixed rate rather than short sale adjustments.

This gets our economy back on track and the money flows again.

No more "sissy" rides!

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Sat, 10 Jan 2009 17:02:53 -0800

Now that I am back out there showing buyers around, I had to get prepared. Through the years I always have taught my agents that their car should be their office. Be sure it's clean and has ample room for the buyer's needs.

Well, I thought I had it all together until recently when a potential seller wanted me to take a look at his land. I had no idea at the number of properties he owned. Yes, I had checked the tax records, but he had all types of properties hidden away in corporations.

He asked that I bring my truck. I was the proud owner of a 2003 Harley/Davidson/Ford F150, 100th anniversary edition. A real beauty. Black with 20 inch chrome wheels with all the bells and whistles.

I picked him up and before I knew it he asked me to take a hard right through a field. Twenty feet off the road, I was mired up to the axles. The seller was livid. He immediately called a bud and demanded that he come to pick him up. This guy showed up on a John Deere tractor and pulled me back to the road. The seller said not to show up in a "sissy" truck again.

So on the way home, I pulled into my local used car dealership and traded keys for a 2000 Chevrolet Silverado, 4 wheel drive. Scratches were a bonus. Not a collector's prize, but it does the job.

Today, I picked up the seller and we headed for the woods. He was impressed and listed 1.2 million worth of property with me. Six hours later, I took a buyer out and we went 4-wheelin' in the mud on the seller's property! It was a great day and the buyer should be making an offer in a couple of days.

Remember, drive the right vehicle and make sure your prospect is comfortable!

So how are we doing?

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Sat, 08 Nov 2008 16:15:07 -0800

Over the past few months I have recieved several calls wanting to know how we are doing. After 23 years of training others to be successful in the Atlanta market, I have merged my Marietta, GA office with another. It really came as no surprise. I count the turn in the market as an opportunity to refocus on my personal business. Yes, our company has been recognised for many years as one of the top selling companies not only in the Atlanta market, but in the nation. But down inside, my first love in the business world is assisting buyers and sellers. So, we are out there with friends again assisting them through these days of uncertainty. I excel on the challenge of helping.

I have always been called on for advice. It seems at this time I am called on for more bail out advice than anything else. But it's what I enjoy. Helping others, that's what its all about.

So, I still have one of my offices in Cartersville, GA. Whenever there is business in the Cartersville area, I refer it to my agents. Other than that, I look forward to your referrals.

There is a real freedom in this and we are doing great. Contented and growing.

Due Diligence - What say ye? Like it or not?

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Wed, 27 Feb 2008 20:42:44 -0800

I have been to several classes and have taught several myself on the new 2008 GAR contracts. We have been working with them over a month now and I must say the "Due Diligence" paragraph is really making this industry interesting. Recently one of the instructers said that the forms committee has now finished the major rewriting of the contracts and that "Due Diligence" was the end in mind. In my opinion, we have a purely option contract now that favors totally the buyer. They can walk away for any reason before the end of the DD period.

So what say ye? Have you had deals fall through? Many of my agent friends are hinting on marking through the DD whenever they represent the seller and bringing the old language out.

Tony Williams, Broker/Owner, REMAX Realty Group, Marietta & Cartersville, GA

Honoring Dad for 40 years of service

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Wed, 27 Feb 2008 10:02:33 -0800

The Georgia Association of REALTORS has honored my Father, H. Ray Williams acknowledging 40 years as a REALTOR. Actually, he started selling real estate in 1963 with Jackson and King Realty and in 1967 joined the Cobb Board of REALTORS. He tells me that his dues were just $15 a year back then. His first year Dad sold over 25 properties with an average value of less than $20,000. Then in 1970 he founded Hagood and Williams Realty. Later in 1977 he formed Century 21 Hagood and Williams. Over 28 years ago, I began working along side Dad. We went on to form REMAX Realty Group on the northwest side of Atlanta in 1985. Today we have been blessed with over 100 associates in two different locations in Marietta and Cartersville, GA.

He is the quiet strength that I have leaned on. He has guided his family through thick and thin. We have weathered 17-18% interest rates. We have weathered the storm of getting to the closing table and no funding available. He and Mom raised three boys and three girls and now have several grandchildren. One thing about Dad is he knows his security in his faith through the days of storm.

I am proud of my Dad. We have honored him by setting up a special event with the Muscular Dystrophy Foundation. On March 6th, Dad will be locked up for lunch. Help us bail him out by honoring him for 40 years of service. If you would like to contribute, just click on this link: MDAevent. Thanks Tony Williams

Auctions, the alternative to waiting on the sale

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Tue, 26 Feb 2008 20:50:21 -0800

It's as old as dirt and Auctions are here to stay. Real Estate Auctions have been around for centuries and today they are being used to bring value to our market. Recently, driving down a busy corridor I saw an arrow sign promoting $100,000 discounts on new homes. Then making my way to the office an agent told me of a builder who planned to give his houses back to the bank. That afternoon I reviewed my "Short Sale" training. Once again, I was hit with the answer, an auction. Think of the benefits provided to the seller:

No Inspection Contingency
No repair list
Commissions are paid by the buyer
Seller has the right to set the price
Property to be sold on a certain date
Buyer brings more earnest money which is usually non-refundable
No Financing contingencies
The buyer is ready to buy
The value of the property will be determined by a number of purchasers
All parties are present so the transaction can be worked out
Agents still get paid
Personal property can be sold at auction with the property
Sellers can join with other auctions to increase marketing impact

Auctions are just a great way to go. The builder or seller saves their credit and the bank is happy. In the instance of the need of a short sale, the sale can be subject to the bank's approval with a contract in hand. It's just a great way to sell properties.

Over 70% of all real estate in Australia is sold at auction. The for sale signs announce when the sale will take place. In our market, we put a for sale sign up and hope a day will come when the property will sell. Auctions sell properties.

The buyer gets a great value. The seller's needs are met and everyone is involved in a win-win situation. You may think that auctions are "fire sales". Think again. Many top rate properties are sold by our auction affiliate every month that are top of the line in great condition.

Call today to find out more about how to sell your listings at auction. You will still be paid and your seller will be happy with your service. Contact Tony Williams, Broker/Owner of REMAX Realty Group at 770-405-3000 for more information. REMAX Realty Group with the assistance of an auction company has been selling properties at auction for over ten years and you can too. Do your seller a favor and call today or contact by email at tonywilliams@remax.net.

Using Google Trends to compare

Tony Williams, Tony Williams (Atlanta Metro agent with REMAX Unlimited) — Wed, 16 Jan 2008 20:22:39 -0800

Seeing how over 80% of the public takes a look at the web to find their next home, it is very important to know who leads the way. The next time you head out to your next listing appt. carry along your notebook and connect to the internet. Take a look at a great site that graphs the trends of four companies at once. Take a look at www.google.com/trends , put in remax.com then with no spaces put in other national companies separated by commas. You can also track how remax is catching up with realtor.com. The national advertising is very important as we all know. At the lower portion you can see the activity based on cities. So, when KW says there is no need for national advertising, you can prove the results