David Saks

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Education & Training - (retired) - TN LIC# 290452
David Saks is a musician, retired real estate broker, and long-time ActiveRain member. David's blog features important information relevant to the safety, integrity and security of the industry. In addition to his widely read real estate fraud blog, a comprehensive overview of real estate continuing education is a weekly addition for his subscribers and the ActiveRain community at-large. Thank you for subscribing to and for visiting David's ActiveRain home on the internet. Please join. Membership in ActiveRain will enrich your life !

ARCHIVED BLOG POSTS

2008 

                                                     The word means to "clear from blame or remove guilt". One of best things about the exculpatory clause is that it allows a buyer to purchase a property without any personal liability. In an exculpatory clause, the liability may be limited to the...
08/23/2008
                                                 We're not talking about funny little furry,  creatures here. We're actually talking about a little paragraph that you could actually insert into the body of your contract that could help you break the deal. You might consider the weasel clause an o...
08/23/2008
                             If you tell the lender that you make 115 thousand dollars at the car wash and work four days a week somebody's going to start asking questions. I suppose one of the most important things you can do is provide truthful details regarding your source of income, whether o...
08/23/2008
                                     Hold on ! Whoa Nellie ! This is a biggie ! The lender might really have only one question if you don't have a credit file with the bureaus : Who are you ? Don't give up yet ! Maybe you can do something about it ! Can you start a file by asking the credit repor...
08/23/2008
                                                   If you default on your loan, the loan can become due and payable in full, immediately. Simple ! The acceleration clause demands the performance of the contract in full from the buyer upon a breach of the contract. For example: The contract was fo...
08/23/2008
                                       When you put together a plan to purchase real estate, especially for investment purposes, you might be looking for a bargain because of title problems which include: 1. Federal, state or local tax liens  2. Mechanics Liens for work done on the property 3. Mi...
08/18/2008
                                 The geographic trade area in which a bank will lend is usually defined as the trade area from which a high percentage, such as 75 or 80 percent, of their loan and deposit business takes place. When the bank or lender defines it's trade area the lender will attempt...
08/18/2008
                              Here's another one that just seems to summon that part of the mind that we refer to as common sense. Usually, after the lender reviews your application, the lender will request additional information from you if they need it to assist the decision to grant you your l...
08/18/2008
                                   Excessive accounts might be like having excessive bad checks to a lender if those accounts are delinquent or mismanaged. With a plethora of accounts on the books the lender might wonder whether or not all of those excessive obligations are going to spell disaste...
08/18/2008
                               Here are just a few: 1. Falsification of your employment record. 2. Falsification of your income. 3. False financial statements. 4. Intentional misrepresentation of your bank statements, funds or assets. 5. Falsifying information regarding your source of funds. 6. U...
08/18/2008
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David Saks

May God Bless You, Always. David
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