It happened again today. I received an urgent WARNING message from some well-meaning person in my email address book. This time I am being warned NOT to dial 9 0 # on my cell phone. As usual, dire circumstances will ensue, if I fail to heed the warning. Also as usual, the message purports to cite...

02/14/2011

The septic did not pass inspection, now what?

2 Comments

The scenario: Buyer has a contingency in his contract for a bank-owned property that the septic must pass an inspection satisfactory to him. His inspector reported that the septic will not pass state health codes. The estimate for a new system is $15,000, and the buyer wants to know if he can ren...

02/13/2011

Will they take a back-up contract?

16 Comments

First, let's clarify what a back-up contract really is. Many buyers confuse a back-up offer with a back-up contract. To qualify as a contract, it has to be signed by all parties. That means that the seller and buyer have agreed to all terms. A back-up contract is like any other contract for sale,...

02/12/2011

As the news unfolded, all I wanted was my CNN...

4 Comments

On historic days like today, all I want to do is stay home and watch CNN. Instead, I spent the day busy with typical real estate duties including showing a house, helping an investor, and dealing with tasks that kept me on the phone or in front of the computer screen all day. The morning news ha...

02/11/2011

Rodney Stovall: A Tribute

12 Comments

It's been a year since I last saw Rodney Stovall. He was in the "duty" room, and I stopped by to talk for just a minute. I really just ducked in to say "Hi" as my best friend and I were on our way out of the office for our monthly pedicure. I wish I could remember what I said. If I had that mome...

02/10/2011

Wing wall? And it needs a railing?

2 Comments

"Wing walls need railing," was on the FHA appraisal, and the client was mystified. Since it was an FHA appraisal and it involved a railing, I knew the appraiser was talking about a wall or ledge off of which someone could fall. I had never heard the term "wing wall." The house did not have an ope...

02/09/2011

How do you know if it will pass FHA?

18 Comments

Buyers and agents often ask that question, now that increasing numbers of buyers want to use FHA loans. An FHA appraisal (not to be confused with inspections that every buyer should order) may cite areas that must be repaired prior to closing. Those citations are called predications. Not every se...

02/08/2011

What is the lockbox code?

16 Comments

Yesterday I received a phone call from an agent who was mid-conversation with someone else as I answered. In fact, I had to wait for her to stop that conversation before she even responded to my greeting. She wanted the code for an REO property I had listed that morning. Though I also put an ele...

02/07/2011

Cyber bullies will have it easy

6 Comments

Fast forward eight or ten years from now. A vulnerable fifth-grade Vanessa will be embarrassed when a cyberthug of a classmate uncovers old FaceBook posts made by Vanessa's proud parents in 2011. What Mom thought was so cute will be a gold mine of torture material for her bully. I beg parents to ...

02/06/2011

You CAN'T be serious! BUYER'S agent has to turn on the utilities??

14 Comments

The responsibility for arranging utility turn-on rests with the buyer and the agent for the buyer, NOT WITH THE LISTING AGENT or the inspector when purchasing a HUD owned property. So, be prepared for that from the start, but also know that there are additional caveats. While most state contracts...

02/05/2011