Posted by Brian Danney on Thursday, April 26, 2018 at 2:21 PMBy Brian Danney / April 26, 2018Comment
A big part of purchasing a home is doing your due diligence and properly investigating the substantial purchase you are making. Upon opening up escrow on your new home, you will begin to receive disclosure documents of the seller knowledge of the home (repairs, remodels, etc.) since they have owned it. In addition to the seller disclosures, you will also have the right to hire an inspector of your choosing to fully inspect the home for you. This is a very crucial part of the home buying process.
A few months back, I opened escrow with a client on a home off the I-15 corridor. The home appeared to be turn-key and in good condition. The home was nicely staged and had beautiful cosmetic upgrades throughout, including a new kitchen and flooring. My client was drawn to the home’s new materials and color scheme. We opened escrow and were able to negotiate favorable terms. We then received disclosures documenting all the
work that had been done to the home and it turned out the home had been an investment. The sellers had bought the home and converted the dated older construction into the modernized floor plan we were now seeing....
Posted by Brian Danney on Thursday, April 12, 2018 at 12:47 PMBy Brian Danney / April 12, 2018Comment
Over the course of the past few months, we have seen some new trends begin to develop regarding the terms buyers are presenting to sellers. In the current market, some buyers developed a defeatist attitude as homes have often been selling above asking price. This is based on the limited supply of homes and the increased demand for them. This has forced me to be more creative in order to help buyers engage sellers and get them in the home that they desire.
We have seen over a dozen situations in which the listing agent has countered the buyers offer with the terms to remove their appraisal contingency within the offer. One key item for buyers to know is that this contingency is interconnected with the loan approval contingency. If the home in question does not appraise, then the buyer has their loan contingency to protect their interest in moving forward with the deal.
Buyers are now catching on to this trend and are presenting offers without their appraisal contingency in place out of the gate. These savvy buyers have quickly realized that they still have their loan contingency. In other words, they still have their loan contingency to ensure they are approved and can move forward with the qualification...
It’s time to come out and say it: You and I are in a fight against mediocrity.
Unfortunately, becoming a licensed agent requires very little effort. This results in an incredibly mediocre industry. Worse than that, the industry operates in a way that protects that mediocrity by putting out messages into the market that are against the best interest of the people we should be looking to serve.
By the way, I must admit that my own career started with mediocrity. I stumbled into the industry like everyone else. It all began back in 2005 when my dad wanted to sell a home. I got licensed so that I could help him do so and just like that, I was a real estate agent.
I started to look around to see how other agents were operating. From that, I began mimicking people who seemed successful. But things have changed since then. It used to be that an agent was at the center of their business model. They were in charge of everything. It turned them into some kind of superhero who could handle all the aspects of the transaction on their own....