I WILL PLAY YOUR SILLY GAME
I am ready for another busy week in Phoenix real estate. Statistics show that 72% of the homes sold in August of 2010, were distressed properties. The market has slowed just a bit going into the 4th quarter. Well, this is expected since we are heading into the Holiday Season of real estate. So, I am about to write an offer on an investment property for one of my clients. Simple? I just need to write it up. Then, send it over to him in Email format to obtain his Esignature. NO PROBLEM!
Well, I completely read the entire planogram because it is a bank owned property. I do not want to miss one of the directions demanded from the asset manager. It is vital to execute the exact directions or the offer will not be accepted. So, the Realtor in private remarks sections informs us to "PLEASE SEE IMPORTANT INSTRUCTIONS UNDER THE DOCUMENTS TAB." OK-I can do that hands down. Well, I have to read another 5 pages in order for me to write up the offer. So, I make another cup of coffee and read the 5 pages in order for me to write a complete offer. What would Indiana Jones if he was a Realtor? Great question!
Finally, I have finished writing the offer. Now, I am going over their checklist as follows:
- Purchase Contract
- As Is Addendum
- LSR or POF for cash deals
- HOA Addendum if applicable
- Copy of Earnest Check-Made payable to ???? title
First, I believe every offer should have the following items sent over to Listing Agent at all times. This is standard practice for me. Also, they want you to waste a good check filled out to "BLANK" Tile Company-named at a later date. WHO WANTS TO OPEN A TITLE COMPANY NAMED 'BLANK.' This makes no sense to me. I love explaining this to my client. I will play your silly game.
AM I THE ONLY ONE PLAYING THIS SILLY GAME? LOVE TO HEAR YOUR INPUT ON THIS ONE.
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