Don't Let Your House Sale Fall Through!

Please read the attached WSJ article – it has some good reminders to help close more deals.  Here are a few additional thoughts.

1.       Remember what a huge advantage Royal Charter Mortgage offers you.  Financing problems are to blame for 40% of escrows falling out.  Use Royal Charter and you’ll close more deals!

 2.       Prepare for the appraisal and meet the appraiser at the property!  The article suggests that you may want to add a contingency to the contract laying out how the sides will re-negotiate if the homes appraisal value is lower than the sales price.  This is tricky and not good advice.  If your client ever requests this only do it after you’ve obtained verbiage from your Sales Manager.

 3.       Great suggestion to always get inspections and the preliminary title report done immediately!

 4.       Remember, time kills all deals.  Shorten up time frames where possible and if the seller needs to stay in the property for a period of time, close early and have the seller rent back (see your Manager!)

 

 Good luck!  Continue to enjoy the holidays, but don’t forget to work and prospect for new business!!

Lead Base Paint....EPA

As discussed at our recent sales meetings, please open this Wall Street Journal article as further information on the new laws regarding Lead Base Paint imposed by the EPA.

http://online.wsj.com/article/SB10001424052748703460404575244812466388810.html?KEYWORDS=NEW+LEAD+PAINT+LAW#printMode

Also, you have a new General Contract Addendum (paragraph Z2) as of today to help protect you and your clients.

Have a wonderful day!

"Short Sale Coordinators"

Dear Associates,
As mentioned at the Sales Meeting this week, we cannot work with any 3^rd party "Short Sale Coordinators". If you have any questions, please see your Manager.
Attached is a recent email that is a perfect example of a 3^rd party Short Sale Negotiator who makes all kinds of promises. BUT bottom line is their activities range from unethical and unconscionable to illegal. We have been informed by the DRE that several of these companies are being prosecuted in California and that Associates who have worked with them have lost their Real Estate licenses and are also being prosecuted.
Short Sales are a great source of business in our markets, however, they should be managed directly by the Sales Associate.
Again, see your Manager with any questions and thanks for your vigilance. We’re trying to look out for your and the clients best interest.