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That's unconscionable to ask of someone buying a home. Your license should be shredded and flushed down a toilet.
Actually, you should re-read the thread. Mr. Jacquish is one of the most knowledgeable and thoughtful agents I've had a discussion with. I've met a lot of agents with many different levels of knowledge and I have the utmost respect for Mike. He never recommended it, but the OP wanted to know what sort of offer the bank wants. Real estate would be better off if we had more people like Mike in it.
Anyhow, I chose to use the listing agent because I figured if she stood to make double the commission that may be some extra incentive to get the deal done.
Good thing you are comfortable with dual agency.......did you also use her recommended lender and the bank's closing attorney? Who was on your side?
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To the OP, I agree, the hell with foreclosures. Short sales should suit you fine.
Seriously, eliminating foreclosures really narrows your selection. It sounds like your agent hasn't been able to convey the tone of today's market. The one theme of all the replies is your expectations were not realistic. I say "were" because I think you are getting it now.
WHOA.......... Find a hitchin' post for the high horse. I encouraged nothing, would not encourage that tack, and in no way suggested that that is the best way to buy property, but just the most aggressive way to offer.
But, speaking in an academic sense, the fact is, fewer contingencies and wrinkles make a stronger offer.
Yes, if you're only interested in making a sale.
Dishonesty from "real estate professionals" (loosely defined), all in the name of making a sale ruined this industry. Sometimes you have to walk away, instead of putting your client in the fire just so you can make a commission.
That's fine and dandy Brandon Hoffman, I'm glad you and Mike have a great relationship. I hope it grows closer and warmer as the years pass.
That being said, the advice he offered is bordering on illegal. It's poor, poor advice.
It wasn't advice. He answered a question.
Quote:
Originally Posted by Mr. Fantastic
Yes, if you're only interested in making a sale.
Dishonesty from "real estate professionals" (loosely defined), all in the name of making a sale. Sometimes you have to walk away, instead of putting your client in the fire just so you can make a commission.
Lord.
You do realize that people do have the opportunity to inspect a property BEFORE making an offer, don't you?
I did not offer advice. I did not recommend any action that would be harmful to anyone.
I merely stated fact.
Is it inaccurate to say that an offer devoid of contingencies is stronger in the eyes of a seller than an offer full of contingencies?
I think not.
The level of cognitive function required to read the thread and to easily and clearly comprehend that I did not offer advice is probably below that which would qualify one to walk amongst us without a guardian or keeper.
Moderator cut: personal - off topic
You DID in fact imply that buyers with low risk tolerances should advoid foreclosures directly after you offered advice
Moderator cut: personal - off topic
Quote:
Originally Posted by MikeJaquish
Another fact...
There are enough issues and compromises with so many foreclosures; title, condition, deed, that buyers with low risk tolerance should consider buying a retail home, not one from the scratch-and-dent department.
I don't know about you, maybe it's just me and my lack of understanding, but that sounds like you saying people who don't want to deal with skipping contingencies should just not buy REOs, because they're not "risky" enough.
You do realize that people do have the opportunity to inspect a property BEFORE making an offer, don't you?
Moderator cut: personal - off topic
Being a broker, I have sold numerous properties, 92 deals closed last year in three different metro areas across the country.
Moderator cut: personal - off topic
I'm well aware of what inspection contingencies are. I'm also well aware of the education it takes to become a "realtor" and the average education of most "buyers". Point being, it's not very high, and this lack of education of both sides has lead to this industry having a stinky reputation. The only way to fix this is to give people honest advice that doesn't involve them emptying their bank account into a broken down shack just so we can make some cheese off the top.
Wow. I didn't realize it was the Mike & Mr. Fantasticinhisownhead board. My mistake.
You say you're aware of so much and yet, a bit of reading comprehension seems to escape you.
Quote:
Originally Posted by rjrcm
It's just you.
Okay, maybe you two extremely well read and intelligent fellows can interpret what exactly Mike is saying in this quoted line from his actual follow up post:
Quote:
Originally Posted by MikeJaquish
Another fact...
There are enough issues and compromises with so many foreclosures; title, condition, deed, that buyers with low risk tolerance should consider buying a retail home, not one from the scratch-and-dent department.
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