Don’t Waste Due Diligence Days When Waiting on Seller To Do Something Required In Order to Inspect

Don’t waste Buyer’s Due Diligence Period when waiting on a Seller to do something before Buyer can inspect property. How do you address a Buyer’s Due Diligence period if you have to wait on the Seller to…. turn on the utilities? Complete the Community Association Exhibit? Get a tenant to vacate the property? Have a short sale approved? etc.? You certainly DON’T want the Due Diligence period to BEGIN when that happens because what if the Seller never does what they are supposed to do? The Buyer would be locked into that contract! So as a real estate agent, how do you address this in a contract? Watch the video to find out!

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Appraisal Gap Stip & FHA/VA Loan – May a Buyer Terminate with a Low Appraisal?

Can an Appraisal Special Stipulation (i.e. Appraisal Gap Stip) be enforced if a Buyer is getting an FHA / VA Insured Loan? Watch the video to find out! Amendatory Clause – FHA & VA Insured Loans: FHA AMENDATORY CLAUSE “It is expressly agreed that notwithstanding any other provisions of this contract, the purchaser shall not be obligated to complete the purchase of the property described herein or to incur any penalty by forfeiture of earnest money deposits or otherwise unless the purchaser has been given in accordance with HUD/FHA or VA requirements a written statement issued by the Federal Housing Commissioner, Department of Veterans Affairs, or a Direct Endorsement Lender, setting forth the appraised value of the property of not less than $ _________. The purchaser shall have the privilege and option of proceeding with consummation of the contract without regard to the amount of the appraised valuation. The appraised valuation is arrived at to determine the maximum mortgage the Department of Housing and Urban Development will insure. HUD does not warrant the value or the condition of the property. The purchaser should satisfy himself/herself that the price and condition of the property are acceptable. Source: Department of Housing and Urban Development.”   Same for VA Insured Loan.   Please browse “Videos” or “Playlist” for so many more!   FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.   Click to Watch More Videos

Agent to Agent Communication – Do’s & Don’ts

Watch this video for tips & tricks on how to communicate professionally and effectively to get real estate deals DONE! Also, don’t let your frustration of others’ lack of communication deteriorate your professional communication. Watch the video for tips & trick & ideas. Also make sure you leave your contact information in your email signature!

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FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.

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All About Agent Signatures in a Real Estate Contract

What happens if the real estate agent doesn’t sign a contract? What do the agent signatures mean? Do the agents even need to sign the contract? Watch the video to find out!

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FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.

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Considerations When Using GAR Exhibit – “Property Sold with Right to Request Repairs

Considerations When Using GAR Exhibit – “Property Sold with Right to Request Repairs” The Georgia Association of REALTORS (GAR) F273 Exhibit – “Property Sold with Right to Request Repairs” has many issues to consider prior to a Buyer making a contract subject to this vs. having a Due Diligence period. In this competitive market, many buyers are using this Exhibit in place of Due Diligence to make their offer more attractive but please be mindful of the many questions this Exhibit leads to. Watch the Video for more information & issues to consider including WHAT HAPPENS TO THE EARNEST MONEY?   Please watch the video on this but just some issues to keep in mind: Earnest Money is not addressed so you must add a special stipulation regarding the disbursement of the Earnest Money of this contract terminates because Buyer & Seller can’t agree on an Amendment Buyer may only ask for Seller to address “Defects” as defined in that Exhibit If parties agree to address any issues financially, then in that Amendment, you must state that the Exhibit is no longer part of the contract     For information on “The Red Book” by Seth Weissman & Ned Blumenthal – Go to www.WeissmanLaw.com   Please browse “Videos” or “Playlist” for so many more!   FYI… there are more videos on the YouTube Channel, “Real Estate Made Crystal Clear” ahead of what is presented in this Newsletter.     Click to Watch More Videos