I'm currently working with a buyer client buying his first home. We put in a successful bid on a condo and the process began. Let me interject that the listing agent has been very communicative and great to work with. Unfortunately I can't say the same for the lenders. Only one other condo has sold in that development since Jan. 1. That unit was also a short sale. It was a mirror image of the … (4 comments)
contract: When does an offer become a contract?
- 06/17/10 01:02 PM
As an ethics instructor I get into some interesting discussions in my classes on the subject. Bear in mind this blog is dealing with Maryland law. So when is the contract considered fully accepted? Of course this is critical because the clock starts ticking on all the contingencies at that point. Mostly I get two answers when I ask. Some believe the contract is considered fully accepted when the last party to the contract puts that last initial or signature on the contract. Others believe the clock starts ticking when the copy of the contract is physically delivered to the other … (3 comments)
contract: REO's and REO agents vs. state law
- 11/26/08 04:47 AM
Ok, I don't mean to offend anyone who lists REO's but I have been hearing more and more stories about the behavior of banks and, sad to say, their listing agents. Granted I'm speaking from a point of view of Maryland law but I bet it's pretty close in many other states. First issue, and I know it's an issue across the nation because of feedback at the board forums at the NAR convention. Banks offering properties for sale and scheduling closings on properties they don't even hold title to. Perhaps I don't understand the finer points of the law but … (2 comments)
What to expect in a short sale? I suppose I could wear out my keyboard posting all that could happen and then still miss some.
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