Let's Play: Test FSBO's Knowledge of the Real Estate Transaction!
This is a must read by Lisa Moroniak. She makes some really good points and my favorite is that we make our Business Look to Easy to our Clients. Hope you enjoy the Post as much as I did.
Let's Play: Test FSBO's Knowledge of the Real Estate Transaction!
I feel like donning my Alex Trebek mustache today (oh wait, didn't he shave that off?). Just my opinion but there are a few guys that really should keep their facial hair intact - Alex, Tom Selleck, John Stossel and Sam Elliott. They're barely recognizable without it.
Now...onto what this blog's really about. Now that I'm a real estate professional (and no longer a FSBOholic myself), I can't help but wonder if the margin for error in a real estate transaction in the State of Virginia is taken into account by For Sale By Owners (FSBO's)?
For example:
- What are...the four main contingencies that need to be removed prior to closing?
- What are...appropriate grounds for a seller to be able to take action for Breach of Contract?
- Who...determines how Earnest Money funds are divided up in the event a party is legally able to be released from their contract?
- How many...days after ratification must Earnest Money funds be deposited into escrow? **Daily Double** who dictates which party gets to hold onto EMD funds?
- What...qualifies as an Inspection item that "Needs" to be completed by a seller...versus one that's a "Nice to Have"?
As agents we're probably guilty of making our jobs look waayyyy too easy for our clients who understand our value in protecting them from harm (what - you say it's NOT just about marketing?). And don't even get me started on the intricacies of REOs or Short Sales!
Alex...please tell our lucky lottery of Northern Virginia FSBO players what they've won (or lost - and let's hope it's NOT their deal!!)
Buying or selling in Northern Virginia - Arlington, Fairfax, Loudoun Counties or Leesburg? Give me a call to discuss how to protect your best interests - and get you the best possible deal for your Northern Virginia home!
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Lisa Moroniak, SFR | REALTOR® | Service360°
Short Sale and Foreclosure Certified
Keller Williams Realty
Phone: 703-635-0388
Fax: 703-679-7101
Lisa@lisamoroniak.com | http://www.LisaMoroniak.com
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