How Do Recessions Happen? – Ming & Alan Richardson

The Real Estate Backstory is our weekly update of real estate news, information and education for the Atlanta real estate market. This week we cover:

Record low in U.S. says it is a good time to buy a home.

Homeowner equity grows again across US in first quarter.

Adjustable rate mortgage demand surges to 14-year high.

How are buyers coping with rising interest rates?

First-time homebuyers are driving demand.

10 must have features buyers look for when searching for home.

Some sellers hit a tipping point.

FHA gives buyers exclusive sneak peek at foreclosures.

Most home owners facing foreclosure have at least some equity.

Is your city overvalued?

Check in on your new construction buyers!

Lumber prices tumble to lowest level of 2022.

Renters facing bidding wars.

1031’s on the chopping block again.

The difference between the rich and everyone else.

How do recessions happen?

Thank you all and please let us know if we can be of service.

Alan Richardson – Managing Broker – Maximum One Realtor Partners

alan@maxonepartners.com

http://www.maxonepartners.com

Office: 678-782-5050

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2022 Midyear Changes to GAR Contract Package – Part 1 of 2

PART 1 – Midyear Changes to the 2022 Georgia Association of REALTORS (GAR) Contract Changes – Part 1 of 2 . This video begins the series of videos covering the 2022 Midyear changes to the Georgia Association of Realtors (GAR) contract package. Please subscribe so that you don’t miss any videos on additional changes to the Georgia Association of Realtors contracts for 2022!   👀 2022 Midyear Changes to GAR Package – Index – https://maximumonerealty.files.wordpress.com/2022/05/2022-gar-forms-revisions-package-changes-with-notes.pdf 👀 Exclusive Seller Brokerage Agreement – https://maximumonerealty.files.wordpress.com/2022/05/f101-05.01.22-exclusive-seller-brokerage-with-notes.pdf 👀 Mutual Termination of Brokerage Agreement – https://maximumonerealty.files.wordpress.com/2022/05/f152-05.01.22-mutual-termination-of-brokerage-with-notes.pdf 👀 Purchase & Sale Agreement – https://maximumonerealty.files.wordpress.com/2022/05/f201-05.01.22-purchase-sale-with-notes.pdf 👀 Instructions to Closing Attorney – https://maximumonerealty.files.wordpress.com/2022/05/f255-05.01.22-instructions-to-closing-atty-with-notes.pdf   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 from Real Estate Made Crystal Clear

The 3 Most Dangerous Lines to Leave Blank in a Real Estate Contract – Parts 3 – Due Diligence

PART 3 – Here are the 3 most DANGEROUS lines to leave blank in a real estate contract… What if the Buyer leaves the Due Diligence time frame blank? What if this is 0 days? Why should Buyers & Sellers consider 1+ days for a Due Diligence Period? Why is this important & what does it have to do with Earnest Money? What is the one exception in the Georgia Association of Realtors (GAR) contract? Watch the video to find out!   3 Most Dangerous Blanks – Part 1 – https://youtu.be/-aYjri8wIi0 3 Most Dangerous Blanks – Part 2 – https://youtu.be/PQaT2aqWs6w   00:00 – Introduction 00:25 – Leaving a Blank for Due Diligence Period 00:51 – Why are Buyers Putting in 0 Days Due Diligence? 01:47 – What IS a Due Diligence Period? 02:21 – Reasons to Consider 1+ Days Due Diligence 03:15 – Why a BUYER Should put in 1+ Days Due Diligence 04:17 – Why a SELLER Should Accept 1+ days Due Diligence 04:43 – What Happens to Earnest Money if Buyer Terminates with 0 Days Due Diligence? 05:47 – Seller & Broker Remedies for Buyer’s Default 07:18 – Georgia Association of Realtors (GAR) Contract 08:11 – RE Forms Contract 09:07 – The One Exception to Putting in 0 Days Due Diligence – GAR Contract 10:06 – GAR F273 – Property Sold with Right to Request Repairs Exhibit 11:32 – Other Dangerous Lines to Leave Blank3     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

The 3 Most Dangerous Lines to Leave Blank in a Real Estate Contract – Parts 1 & 2

The 3 Most Dangerous Lines to Leave Blank in a Real Estate Contract – Parts 1 & 2

PART 1 – Here are the 3 most DANGEROUS lines to leave blank in a real estate contract… If the time frame for a Financing or Appraisal Contingency is left blank does it mean 0 days or through the end of the contract? What happens to the earnest money of there is a termination? What does the Georgia Statute of Frauds say? Is there any contractual evidence for the interpretation? Watch the video to find out!   00:00 – Introduction 00:54 – Competitive Strategies for Buyers 01:27 – Interpretation of a Blank Time Frame for Contingency 01:53 – What does a blank indicate contractually 03:27 – What is the contractual impact of leaving a blank 05:21 – Does a Blank Time Frame mean 0 Days or Through Entire Contract 06:26 – Georgia Statute of Frauds 07:49 – Possible Interpretations of Buyer & Seller Intent 08:57 – Contractual Evidence that a Blank Time Frame means contingency runs through Entire Contract 11:43 – How do Georgia Courts Interpret a Missing Essential Term in a Real Estate Contract 13:17 – What Do You Do as a Real Estate Agent 14:44 – Summary   PART 2 – Here are the 3 most DANGEROUS lines to leave blank in a real estate contract… If the Binding Agreement Date is left blank what is the correct date? If it is wrong, what do you do? Why is this important & what does it have to do with Earnest Money? How does the Georgia Association of Realtors (GAR) contract potentially CHANGE the Binding Agreement Date? Watch the video to find out!   3 Most Dangerous Blanks – Part 3 – Coming Soon   00:00 – Introduction 00:49 – Why is the Binding Agreement Date so important? 02:35 – Definition of Binding Agreement Date & How is it Determined? 03:00 – What is the Binding Agreement date with Examples 05:21 – When is a Contract Binding? 06:56 – Examples of Confusion with Binding Agreement Date 07:31 – What if Party signs on one date but sends contract back the next day? 08:38 – What if Binding Agreement Date is Left Blank? 08:49 – What if one party Signs Contract & Fills in Binding Agreement Date with the WRONG date? 09:53 – Earnest Money is on the line 11:06 – Steps to Take as an Agent to Avoid Earnest Money Disputes 12:33 – How the 2022 GAR Contract potentially CHANGES the Binding Agreement Date 13:37 – GAR F733 – Binding Agreement Date Confirmation Amendment 14:16 – Other Contracts   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

Is a Team Transaction – Designated or Dual Agency????

In a real estate transaction within a team, are the parties represented by the Broker via designated or dual agency? How is the client relationship created in Georgia? What are the real estate license laws regarding agency? Watch the video and find out!   00:00 – Intro 01:24 – How is the Client Relationship created in Georgia 02:02 – BRRETA & Other License Laws 03:04 – Types of Agency 03:49 – Designated Agency 05:16 – Dual Agency 05:33 – Is Having Both Sides of a Transaction Always Dual Agency 06:41 – If a Team Has Both Sides is it Designated or Dual Agency 07:30 – More About License Laws governing Your Actions as a Real Estate Agent in Georgia 09:55 – “Fiduciary” defined 10:27 – Note About Confidentiality 11:23 – Agency Disclosures in the Georgia Association of Realtors & RE Forms Contracts 14:06 – What About a Team Situation 15:07 – The Answer Is… 18:25 – Bottom Line 19:11 – Points of Practice for Having Both Sides 19:45 – ALL Are entitled to Representation does NOT equal Compensation 21:09 – Nami & Sema     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