Your Real Estate Transaction

a Real Estate Transaction involves More then One Contract. For Example, the Buy - Sell Agreement, the Listing Contract, the Buyers Contract,

If you are a Party to the Contract, it is said that YOU have a Right to make changes to the contract.. initial the changes and have all parties initial them as well.

I Believe that ALL contracts between ALL parties and ALL related Documents SHOULD have to be turned over to the title company at the time of closing, to have a 3rd party to the sale keep records of EVERYTHING.. including Home Inspections and Contracts between all parties, believe me not seeing the listing contract in full by the Buyer brings up all kinds of issues. And when you Sue, the documents will change and/or disappear and the real estate attorney really is cluelesss as to what should be in the contract. And they REALLY do trust that the Realtor turns over all related documents during "discovery" in a lawsuit and it is just not true.

Many Title Companies Will Protect the Realtor over the Consumer, however it is one more step to quality control over unscrupulous agents.

Title Companies are NOT to be trusted in full, but it is a way of better protecting the consumer by somebody other than the office that in the future becomes the accused, having the only set of "evidence" and even if the Realtor office has the copy of a previous home inspection, for example that they failed to disclose to you.. they don't have to have this copy so they just say that they Do Not...

Find Out What Really Goes On behind the Doors of Your Real Estate Transaction.. Protect Yourself... with Knowledge... www.SavvyBroker.com

Consumer Advice - the Real Estate Transaction

Other interesting things about the Real Estate Business---------

Avoid stupid real estate agents from the beginning......................
Example, a house-selling friend of mine - out of state - got an offer presented by her agent, initiated by a buyer's agent. They made a counter offer which was accepted. Two days later the listing agent brought them a "changed offer" from the prospective buyer. Of course that was unacceptable, but the stupid or crooked agent brought it, nevertheless. So it went back and forth a number of times. Finally, the deal was stopped/settled once and for all. In the meantime the deadline for the home inspection contingency had passed and none of either agents "got it". An outside party got involved behind the scene and the latest offer from the buyer was counteroffered with the demand to be signed and done with by ..... (given only 5 hours) or the deal is in default (referring back to the original). This agent cost that seller quite a bit of money. They should have sued both agents for negligence - as a minimum.

Other ways of buying or selling a home:

Don't be shy when you see a home you think you might like .........If you see a particular home, especially new home (which you can tour on your own or with the workers there), call the listing agent directly and inquire if you can purchase the home through them and they will only charge their 1/2 of the commission (and forfeit the selling agent's commission - as there is/was no selling agent other than the "interested buyer calling the listing agent". Worked for someone I know, perfectly, and the agent was more helpful than in other cases. Deal went through!

Someone told me about a house they owned on the East Coast 35 years ago. They had to move out of state because of a new job. The RE agent didn't bring anyone by.

They went ahead and found a buyer on their own. They told the agent, they had to rent the home, because they can't afford to keep it and move. They cancelled the contract.

Someone else told me about their experience in California many moons ago.

The house had to be sold. The wife had to go out of state for awhile and the husband didn't have much time and wasn't into paper work. They sold the house and stipulated in the real estate contract, that the price of the house was not important.

The important thing was to clear so much money after the sale of the home and after the deduction of all the selling / closing costs. They didn't care how much the RE agent made. The agent agreed and after the home sold and was ready to close she came crying to the husband and said, her broker isn't making as much money.... The husband said .... a contract is a contract and that's how this sale went. SOLD!

You decide when your house is being shown. Many people are not in the mood to have their house clean at all times. They need a day advance notice. Others do want to sell their home and have it clean all the time.

INSIST that your agent list the house to be shown with 1 or 2 hours notice and put that also on the "for sale" sign at the street - rather than "by appointment", put by "1 hr appointment".

Many a times people want to see homes that they see "when they drive by" and these people don't live in the area. They are not in the mood to wait and many a times a house could have sold, had it been available for showing.

One would think that agent would 'welcome these "show now" sellers'. No, on the contrary, they don't! In fact,in many cases listing agents want/demand to be called before another agent shows the home - that is plainly stupid. A seller wants his house SHOWN. An extra show is better than a no-show.

Also RE agents are not very honest when it comes to honor their commitment. Someone, got referred by a broker to another broker's agent for personal reasons. This new agent promised to pay a bird dog commission of " so many percent" to the referring broker. House sold! Payment was never made.

Buy - Sell Agreement - Consumer Advice

by and For the Real Estate Consumer....

keep in mind that most Real Estate Contracts - especially the "Buy/Sell Agreement" are only a Standard Contract and since you are party to the contract you can change anything which doesn't violate existing law. (Again - use common sense).

The seller would make these changes and list them in a counter offer...

If smart, buyer and seller - both - will notice that the whole contract is written to benefit mostly the buyer and the Real Estate company, especially when it comes to "time" and contingencies and disclaimers respectively. However, if the Buyer needs this contract in the future to go after the Seller or the Realtor for lies - they may find that they are not protected in the real estate contract at all.

Keep in mind - a "contingency" in most cases is nothing else but a way for the "buyer" to get out of the contract - even those buyers who pay cash. As seller one needs to reject any buyers who have unreasonable contingencies. Often, these prospective buyers make offers on more than one home at the same time as well - or are totally unsure of the financial aspect of a home purchase.

As a Buyer one needs to make contingencies for instance if a new home is being purchased and not quite finished at the time of purchase. (Contingency.... hold so many Dollars in Escrow for the installation of the Heatpump..... etc. etc.) That is a reasonable contingency and not a "buyer's remorse" type.

Specifically, sellers need to pay attention to the following:

1) Earnest Money:
Earnest Money is a consideration that the "potential buyer" really is serious and he shows his seriousness by making a deposit of Earnest Money. This amount should go to the seller's and not to the real estate broker's account. As a minimum it should go into escrow on BEHALF of the seller's account

Keep in mind - most buyers want to buy a home and come to your place, look at your house, make an offer to buy your house and have not much, if any money to their name. With other words 80 to 90 percent of the 'looking public' wants to buy your house with someone else's money and doesn't even know if they will be approved for the loan needed.

2) Finance Contingency............... demand the buyers provide a binding financial loan approval no later THAN ...... days in writing from a loan company (don't give them 20 or 30 days). Mortgage brokers cannot make a commitment of approval. They can pass it on, but not make it. Pre-approval from a Mortgage broker usually has contingencies and is not worth the paper it's written on in most cases. ( NOT a Pre-Approval Letter - but an actual Approval.. there is a BIG difference)

In the meantime, the seller is expected to wait till the buyer gets his stuff/finances in gear and then the buyer expects the seller to move out on the day the home closes. Actually, in the olden days this was not the buyer's intention, but the real estate agents made it so over the years. It used to be that MLS showed: Possession 10 days after closing or 30 days after closing. You might have buyers who expect you to pay rent on "their house" after closing. Well, that is the same as if the seller would charge interest to the buyer from the time the buyer "committed to buy" until he actually provided the money. People wake up. It's your house to sell and you set the terms.

In an honest society, a RE agent would not come to you with someone 'off the street' or 'off the phone' and let them see your home. In fact, in an honest society BROKERS and subsequently RE agents would DEMAND that a prospective buyer is PRE-approved (note: pre-APPROVED for a certain amount by a finance company). In fact some brokers demand this from their prospective buyers. ! .Prequalification means nothing.

3) Time for completion of financial obligations - This contingency is more or less seeking advance authorization for a potential/probable "buyer's delay" (in closing) because of financing. Usually, brokers/agents write their customary 30 days starting from the "closing date". Do NOT fall for this. Change it to 3, 7 or 10 days, whichever is acceptable to you. or cross it out completely. I know of a case where closing fell through because the mortgage broker hadn't done much if anything at all. Buyer had flown in from out of state for closing, etc. etc. It ended up where this CONTINGENCY was actualized and in force for 10 days.

The whole deal was eventually closed in 14 days and on the 10th day the seller requested by addendum a few thousand Dollars EXTRA HARD CASH to be paid to seller and granted an additional 3 days - or else the deal would be in default and the house would be back on the market. It worked like a charm. This only shows how fast things "can go" when RE brokers see that their "commission is ready to walk out the door with the calendar".

4) Closing date.............
Usually, the standard contract calls for 60 days from mutual acceptance of the "deal" (offer and acceptance). I think that's too long. If things can't be done in at least 45 days, then I would not want that buyer.

5) Possession date: DO NOT give possession on the closing date........ regardless of reason.
Lots of deals fall through at closing and besides, why should you be pushed out of the house and sell and or move all your things before you have any hard cash and the buyer had you wait weeks and weeks for his "loan check".

Regardless, it's just unreasonable for the RE agent and or buyer to expect possession at closing. See more under Finance Contingency.... In case you plan to sell all your furnishings (to someone else than the home buyer) it is essentials that your sales agreement with the buyers of your furniture states.... "so much down and the rest payable on closing of your real estate transaction at which time the furniture is available for pick up". This leaves you a way out to refund them their money and you to keep your furnishings in case the deal falls through.

Financing Conditions and Obligations:

See reference to Finance Contingency re: Loan pre-approval no later than .........
VA and FHA - Buyers: Seller be cautious and read the terms ....

3) Home inspection contingency : a fair contingency if reasonably applied.
However, this contingency is also called the "cop out" contingency - (also known as buyer's remorse contingency). This means, if a 2 x 4 is crooked in the basement or a shingle might have raised a bit on the corner next to the chimney --- then, the 'prospective buyer' has his choice to buy or not to buy.
People, beware and start becoming exact in writing down exactly in which case you allow the buyer to NOT stick with his contract, e.g. repairs over 2000 Dollars, this or that.. Do not count on the agent to look out for you. Also make sure the date for written disapproval of the Property conditions is close to the finance pre-approval condition, else the seller wastes too much time with the buyer; and make sure that you get informed BY THAT date and not just your agent. (They can backdate info and or say, we got the buyer's disapproval and you were not home, etc.... etc. beware!)

Consent to Disclose information.

Most contracts have a statement whereby both parties have a right to procurement of any and all information necessary for the consummation of the buy/sell transaction. However, not all parties participate. E.g. the mortgage broker tries to say .... it's my client, etc. Seller: get your own statement in there, stating that you are entitled to check on the progress of the financing and everything related to it because the real estate agents will NOT keep you up-to-date.

Note:
From the above one can see why some sellers were out of the market for 90 days or more - because they had an offer and YET, it fell through. Customary 60 days to close and then an additional 30 days (time for completion -- similar to grace period)... That's why the seller needs to look out for himself when it comes to TIME.

Most of the contractual items and stuff are listed on "numbered lines" in a buy/sell agreement. When you make your counter offer just reference the "line number" and say Change Line # 55 to read ........ 40 days
Change Line # 63 to state .......... etc. etc.

Think outside the Box the Realtors have you, the Real Estate Consumer In...

www.SavvyBroker.com

Real Estate Consumer Advice..

by The Consumer for the Real Estate Consumer...


Any RE contract and especially Standard listing contracts can be changed anytime as long as both parties agree and the change is within the scope of the law. (Remember: if it doesn't make sense, then mostlikely it's not legal)

1) Listing Period, do never - ever give more than 6 months, preferably only 3 months and tell them you will renew. They will tell you they have to invest money... (well, that's their business) so don't be intimidated. Thereafter, you should extend only on a "month to month basis"

2) Items to be left on property - don't be talked into anything.(Agents often try to make you believe a stove, refrigerator etc. goes with the house - curtain rods) - not so.... Just be plain in stating what STAYS...

3) Status of Property: Note - you can sell "AS IS'............if you so desire

4) Statutory disclosures: they have to be done - as it's required by "law".

5) Commission:

Know, you do not have to pay the percentage they write into the contract. YOU can negotiate. Whatever the listing agent has to pay a selling agent (who could even be from another office) is between them. ALSO know, that any and all agents/brokers are ALWAYS after the listing. That way they have THEIR COMMISSION locked in, no matter who sells. That's why they try to overwhelm you to get the listing and seem to be dead once they have it.

6) Seller's Property Disclosure:

Be careful that a precomposed standard statement lists the word "may" next to something similar to:

"The subject property MAY contain":..... as the standard contract lists zillions of components, fixtures and personal property.

7) Water Rights Disclaimer: Note that in most Montana standard RE contracts the Real Estate Office makes sure it cannot be sued and has a disclaimer regarding quantity or quality of (WELL-) water etc. and expect you to sign this. Note:
add a disclaimer for YOURSELF right there - stating something like: "Seller, also, cannot affirm or warrant anything listed in the preceding paragraph." Make sure, this statement is above your signature.

8) Relationships in Real Estate Transactions (Seller Agent, Buyer Agent and Dual Agency)...... Keep in mind, regardless of anything that .... in the end ..... the seller (a well informed seller) has the upper hand. It is not always true that the "buyer" pays for the commission because it's added on to the sales' price. Depending on the market or on the need to sell quickly, the commission might be very well the exact amount the "seller" looses.

10) Often agents and brokers are uninformed about the property they represent. Most of them don't know anymore than their sellers know. And often the sellers don't know all, because they bought it on an "uninformed" basis. This means, BUYER BEWARE! How often are there real estate transactions and the new buyer does not even know there are covenants and or variances on the lot, the existing access is not properly recorded or THERE is no proper LEGAL ACCESS, or THERE IS an easement over their property. Most agents, in any case, are not familiar with the various types of 'property easements' that "legally" exist and what their legal definition and hence the "meaning" is. In some cases no (original) septic approval was obtained. Make sure that as seller you provide this information / documents to your RE agent and have him sign for it and as buyer make sure that it states somewhere that there are no covenants or that there are covenants.... etc. If there are - get a copy of them BEFORE making an offer.

11) In particular in Lincoln County many so called "Lots" are only a piece of land, which was previously "surveyed" and then recorded (and of course this was done, especially to circumvent the subdivision law. A few years later this is being sold as a (legal) LOT and the Clerk and Recorder "never" checked it out - and JUST recorded a "survey of land". Other hot items in Lincoln County used to be "occasional sales" remainders and family transfers. All of them could and were used to circumvent subdivision laws with the county commissioners and clerk and recorder probably asleep on the wheel or occasionally blinking.

12) Remember, you the "seller" are the employer as far as the RE goes. Therefore, if you don't agree with the description of your property - let them know or ask before it goes into the MLS. Also make sure that you see the pictures which your agent puts into the MLS. So many of them put "very dark" pics into the MLS and or of areas that are not especially advantageous for the seller. In fact, do as some smart sellers do: "provide your own digital pics".

13) Sellers might/should discuss with the listing agent how the property will be marketed.

What Do you Folks think of This One ?

City to sue property owner James Smith

Fiscal issues shared the spotlight with the law during the Aug. 18 meeting of the Centralia Board of Aldermen.

The legal discussion centered on the property at 105 N. Allen St.

As instructed by the aldermen, Merritt Beck, city attorney, was on hand to discuss legal options available to the city for getting some sort of action with regards to the mostly demolished, plywood-clad building.

While it took at least 45 minutes to hammer out, in the end, the aldermen agreed with Beck’s analysis. He recommended the city file a "specific performance lawsuit."
This lawsuit could compel SiteRite LLC, the company that owns the property, and its designated agent, David Nelson of Kansas City, to comply with the terms of a real estate contract signed by Nelson sometime between December 2007 and January 2008.

"My belief is this the most efficient way is to deal with the real estate contract," said Beck. "Sue him for not adhering to the real estate contract."

That action could compel Nelson and SiteRite to sell the property to the city for $2,000, as stipulated by the contract.

Some aldermen did interject questions during Beck’s presentation.

http://www.firesideguard.com/news/view_sections.asp?idcategory=9&idarticle=2362

Tidbits on how Walmart Pushes Development Through..

Wow, RG4N just filed a lawsuit against the city of Austin

So RG4N just filed a lawsuit in Travis County District Court against the City of Austin and Lincoln Properties. For those that are new to this whole controversy, Lincoln Properties owns the real estate that Walmart is leasing and building a 200,000 sf mega store on. It's not a normal Walmart but some kind of crazy Walmart on steroids 2 story mega store. Additionally, Lincoln and Walmart are tied at the hip. Basically Lincoln Properties finds real estate in Austin for Walmart and tries to pave the way for them to move into a neighborhood usually, being Walmart, over neighborhood opposition.

There has been a lot of talk that if the city does not approve the Walmart plan that Walmart would come in and sue the city. Most of this talk is based on, well, Walmart saying they are going to sue the city. RG4N is a neighborhood opposition group of people mostly in the surrounding neighborhoods. Apparently unhappy with the argument given that the city has to approve the Walmart plan or it will get sued, RG4N decided that they would sue the city instead.

So what is the basis of the suit? According to RG4N, part of the process for large real estate redevelopments is a notification to surrounding neighborhoods so that they give input on their concerns. Apparently, this did not happen with the Walmart plan.

The other contention is the traffic analysis. For a development to be approved there has to be a traffic analysis to show that the new site will not overload existing roads. Walmart did a traffic study using data from about 10 years ago. Based on this information the site gets graded on an A through F ranking. Walmart got a D but basically D translate to approval.

RG4N argues that the data Walmart used is outdated and that based on current traffic load that the new building will fail.

In addition to all the lawsuits and potential lawsuits, some other interesting developments have been going on. Walmart lawyer Richard Suttle recently surprised people by retiring in the middle of the project. In addition to that, Walmart has been doing pretty poorly recently in the market place. I have a graph below which compares Walmart's stock price to the Dow Jones for the last year. In April, Walmart posted its worse sales ever since it started keeping track back in 1980. Ouch. Apparently same store sales fell 3.5 percent from April of last year falling short of a predicted 2 percent drop in sales. This comes after Walmart tried to go after more middle and upper class consumers, which has been seen as a failure. Walmart has announced that it would cancel some of its new store plans. There was no word on whether the Austin location would be included in the canceled plans.

Written In June Of 2007. I Post this Here to Educate you On the Inner Workings of Real Estate Deal Pushing Techniques...

Source:
http://www.escapesomewhere.com/austinblog/2007/06/
holy_crap_rg4n_just_filed_a_la.html

Realtor Associations Funding Lawsuits ?

The Local Association of Realtors around the US, Canada and Every have stepped up their war on the Real Estate Consumer. They are Fighting in Small Towns everywhere to get their way on development and housing issues. They fight state and federal lawmakers to get their way on issues such as Banks OUT of Real Estate, No Buyers Rebates, No Discount Brokers, No FSBO marketing in the Local Magazines they take control over..

I recently Read about a Lawsuit in Tucson where the Local Tucson Association of Realtors was funding a Lawsuit for a Client to Sue the City to tear down a building..

This Battle with a Resident of Tucson Arizona and the Tucson City is a Sign of the Realtors Seriously over stepping their bounds. This reeks of Anti-Trust violations. How can the Local Association of Realtors FUND a lawsuit against the City. I highly doubt that the City can Stand up to the Money and so called "clout" behind the Realtors.

I strongly feel that the Local Association Board of Realtors around the Country are pushing around local law makers too much. I Do Not feel that the Realtors should have this kind of power and that they NEED to be stood up to. It does not seem like your local government, or the Department of Justice can Really Stand up to The Realtors. Like they are some Giant Unstopable Godzilla taking over every single town and pushing their way on the locals.

When there really is No Need to Use a Realtor in Your Real Estate Transaction and in fact using a Realtor in your Real Estate Transaction offer you less protection, possibly less money, and adds a huge amount of Risk and Stress to Your Real Estate Transaction.

Information on the Article I am Discussing is Below..

Tucson Association of REALTORS® Supports Lawsuit against the City of Tucson
Tucson, Ariz. – (September 10, 2008) –Tucson resident Eric Button has filed a lawsuit against the City of Tucson challenging the validity of § 3033.7 of the Tucson Code (the "Ordinance").

The City has refused to issue Mr. Button a demolition permit for his house in the Jefferson Park Neighborhood until he completes a costly and potentially time consuming historic review process mandated by the Ordinance. So, Mr. Button has challenged the Ordinance's validity, asserting that the City adopted the Ordinance without providing the proper notice to the public.Click here to view the city ordinance.

It requires Mr. Button to submit a historic survey to the City for his house and for every property within 300 feet of his house.

Mr. Button does not have the expertise to prepare the historic survey so he would have to hire an architect to do so.Once the City accepts the historic survey, the review process can take up to two months and, at its conclusion, the City Building Official is authorized to delay issuing the demolition permit for an additional 90 days to allow the City to document historic features and/or an additional 180 days "to provide the City with time to preserve the structure either by purchasing or arranging the purchase of the property."

Apparently, the City Council has given the Building Official the discretion to hold up a demolition permit in this fashion even if the property owner has no desire to sell his property to the City.

The Tucson Association of REALTORS® is funding Mr. Button's lawsuit against the City of Tucson. ...

http://www.TucsonRealtors.org/tar-v2/lawsuit_web.pdf
Click Above for Full Article..

Maybe the Realtor did NOT disclose the Historical Aspect, and Maybe they are funding the lawsuit to bend and break the city ordinance because the Historic Evaluation will cost alot and maybe the Buyer blames the Realtor.. and so the Realtor is funding this Witch Hunt.. to save themselves... Well whatever all the details are YOU can bet WINNING is good for the Realtor...

Buyers Approval Letters

Realtors tell you To Get Pre-Approval, from your buyer to be on the Safe Side Before you Agree to Sell to Them. I say NEVER rely on a Pre-Approval Letter. Realtors tell Sellers it is a Good Idea and it very well may be a good idea but that does not mean it has real value to a seller or that it guarantees or means anything.

A Pre-Approved Letter from a Lender is really a tool for a Realtor to Push a Seller into Signing a Real Estate Contract and giving the Seller False Comfort.

A preapproval letter is just a letter from a lender and sometimes from a Mortgage Broker that makes a Seller feel like they have a viable offer, and a Buyer feel like they have a shot at getting the Loan.

The Buyer can say what ever they want, they can fill out the loan application, but their income has to be proven, tax returns need to be looked over, the Credit Scores need to be looked up. It is not set in stone just because the approval letter is there. All the approval letter does is say that this particular lender will consider this particular borrower to get a loan on your house. Provided that your house appraises, and all the things the buyer said are true.

The buyer may not know their credit score, the buyer may not know of issues that will come up.. so an Approval Letter is just another tool used by the Realtor, and now has become something that the Real Estate Seller thinks they want, but really it is useless in the big picture.

And should NEVER be part of the Buying or Selling Decision making process. So don't believe everything your Realtor tells you about the importance of a Pre-Approval letter from a buyer in your Real Estate Transaction.

crystal cox real estate - realtor lies - crystal l cox

Department of Justice Complaint AGAINST the National Association of Realtors

Realtors Violate Anti-Trust Laws everday. They cannot help but violate this laws, it is the Nature of the Business. As an Ex-Realtor I have been to meetings in which they say that us being in the Same Room Violates anti-trust laws, and then the Class (whatever topic it is on that day) proceeds.
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If the Actions or In-Actions of the Realtors is a Violation of the Federal Anti-Trust Laws then why Does the National Association of Realtors get to Keep in Business?

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The reason is because they are a Billion Dollar Company, and they can afford to FIGHT the Dept. of Justice and to Lobby Lawmakers in Washington D.C to Fight for their rights to do business how the see fit, and of course in their best interest.

Realtors do not Fight for laws that Really Benefit the Real Estate Consumer. Realtors Lobby to Keep in Business for Realtors.

The Dept. of Justice is said to have won their lawsuit agains NAR last summer. What I think is the Department of Justice kind of gave up, they knew they would not last and they knew that they would NOT get the "Realtors" to admit to Boycotts, Anti-Trust Violations, Breaking Laws and all that the Real Estate Cartel really does so the "Settled". All this without NAR having to Admit to the "Wrong Doing" they are Certainly Guilty of.

Here are Links to The Anti-Trust Lawsuit...

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http://www.savvybroker.com/NARPolicyObstructsInternet-basedReal.pdf

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http://www.savvybroker.com/MLS-RESPONSEOFTHEUNITEDSTATESTOPUBLI.pdf

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http://www.savvybroker.com/NAR-dept-of-justice-settlement-.pdf
NAR and DOJ Settlement Documents

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http://www.savvybroker.com/mLS-complaint-UNITEDSTATESDISTRICTCO.pdf

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Lenders Encourage Mortgage Brokers to Deceive You.

Mortgage Brokers work with Appraisers to Get You a Higher Value on your Home so that a Buyer can purchase it and you'll be happy and so that they get the income from Making the "Loan Sale" - income that is Not Just at Closing but is for the Life of the Loan, this is Called the Trailing Commission. Lenders Allow, and encourage Mortgage Brokers to Get The Deal Closed. Lenders allow a Seller's Contribution, Allow a Seller to include personal property in and to pay the buyers closing costs ( even when it looks like this is not happening it is) oftentimest the "What is included in a Sale" is only in the Realtors Listing and Possible the Purchase Agreement - however this Personaly Property included in the Real Estate Sale is oftentimes left out of the purchase agreement and there is no way to ensure that the property is left on site. Make sure everything is as you want it before you close your real estate transaction.

www.SavvyBroker.com

Back to the Lenders. Mortgage Brokers only work with appraisers who consistently "Come In" at what they need the appraisal to be in order to Close the Deal, to get the loan in place for the Buyer - the Borrower. Oftentimes the Appraiser will Stretch the Truth, Fudge a Bit, to get the Purchase Price or "Value" for a Home Loan to Buy a Home or for A home equity loan to pay off other debt. Putting a Value on your Home is Highly Subjective, an appraisal is an "Opinion" by Definitions. If a Realtor puts a "Value" on your home - well the Realtor wants to please you and can pretty much make a CMA come in at whatever it needs to in order to get a listing - or please a Seller, it happens a whole lot whereby depending on which way the client wants to go with their home Value. The CMA, the Brokers Opinion or Price Evaulation can come in on the High Side or on the Low Side.

Lenders Allow Bad Loans to Go Through

Lenders allow Loans to Go through even when they know that the Mortgage Broker and the Appraiser have "Created" a Value that is higher then the home is really worth in the current market. This happens over and over and this is a MAJOR factor for the Price of Home Values increasing so rapidly and with no real value. The Bottom was and is Destined to Fall out. I would like to say that the BailOut, the Real Estate Crisis, the Loan Crisis, the Lending Institutes Falling .. would somehow STOP all this Maddness, but it continues and until the BROKERS - the Realtors are Actually HELD accountable for the Actions that Hurt the Real Estate Consumer then there is No End in Site. I have recently spoke with Brokers - Lenders - Realtors - Mortgage Brokers - Hard Money Lenders and They are Still In Business - and Business is Good.

mortgage fraud still going

In Loaning Money on Real Estate... Business is GOOD !!

In fact Business is Better then Ever Because now that so many have been foreclosed on, their credit is bad - and the Hard Money Loan Guys can get them to agree to what ever interest rate that they want to, and remember the BROKER (the Mortgage Broker or the Hard Money Broker) Gets paid, Not only Upfront in their Application Fees and their Origination Fees and whatever else they can slip in on you, but they also get paid on a percentage of the intereste rate, basically the pts they convince you to Pay they get and they get this Really Good money, month after month - year after year. So though things look like they are bad for the Consumers, the Actually Large Lenders and the Big Boys THEY are not - the Big Companies are getting money from the Government to Bail them out of the Mess they Created.

realtors lie

Mortgage Brokers Are Still in Business.

And the Mortgage Brokers, Hard Money Brokers and such in Your Town - they are Back to Business as Usually as Long as the "Loan to Value" is there. Which is where the Appraiser again come in, as do the Realtors - this "illusion" is NOT hard to Create. Mortgage Brokers are Not Held Accountable for Fraud - Lies and Deception... Until they are There is NO end in Site .. So Protect yourself with knowledge.... www.SavvyBroker.com

NAR Keeping Banks OUT of Real Estate

For Years upon Years NAR, the National Association of Realtors has Been Quite successful in Keeping Banks out of the Real Estate Industry. Though Banks Give money to buy the Real Estate, and though Banks already have the Real Estate Consumers Private information and Though the Banking System Answers to Higher Standards than Realtors and are Possibly a Bit more accountable to the Consumer.. Still NAR and all their might as the Giant Real Estate Cartel in Which They Have Become have Lobbied and Legislated - Stomped their Feet and Threw a Tantrum - they Huff and they Puff and Well They Win.

There is No Reason for NAR to Keep Banks OUT

There Really is No Logical or Ethical Reason for the Realtors, the Local Association Leaders, the National Association of Realtors, the members that gather in thousands in Washington D.C. to Fight So Hard to Stop Banks from Being in Real Estate. Except for that One Reason which is, it Would Cut into the Billion Dollar Profits of the National Association of Realtors and Wouldn't That Be a Shame.

realtor lies

NAR Claims ....

NAR Claims that "Real estate brokers and managers compete in the marketplace without using your tax dollars to prop up their businesses." I, an Ex-Realtor - Real Estate Broker Owner say.. Bull.. Realtors May Not Use your Tax Dollars Directly - they are Not the IRS - they are the NAR - However, the Realtors Do Take Plenty of Your Money and Offer you No Real Service in Exchange and they offer you NO Protection in Your Real Estate Transaction along the way. I don't think that "Compete" is really the Correct word to use here either - The Real Estate Cartel - NAR does not really encourage competition among their members - they just say that they do so they don't look like they are blatantly Lying about their Violations of Federal Anti-Trust Laws.

Realtors, the Association Flat Out Lies about Banks in Real Estate

Realtors say this about the Banks in Real Estate "Bank-affiliated agents would be pressured to focus on the needs of parent companies and shareholders." When in Truth Realtor, NAR has interest in Realtor.com and has their Corporate Hands in All kinds of Financial Windfalls based on the Illusions that Real Estate Consumers Believe which is that the Realtor is Needed in the Real Estate Transaction. The Truth is that Realtor Affiliation are WHAT hurts the Real Estate Consumer. The Truth is that NAR is the One WHo Pressures Lawmakers - pushes deals through to benefit Realtors - pushes Affiliation with companies such as E and O insurance providers - REALTORS are the One who FOCUS on the NEED of the Parent Company. At least with the Banks you get a free Cooler.

real estate fraud

Realtors Actually Do What they Claim Banks Are Doing to You.

This is a FACT, Realtors Do WHAT they are trying to get you, the Real Estate Consumer to FEAR that Banks Might Do. a Slide of Hand.. Smoke and Mirrors... Lies and You, the Real Estate Consumer are Who Really Gets Hurt.

Along with this same point that the Realtors, NAR, also claims this about the Realtors, "REALTORS® succeed or fail based on how well they serve the needs of customers." This is Simply NOT True. Realtors Succeed because the E and O insurance, the Local Board of Realtors and the Real Estate Franchise Protects them when they Lie and Break the Law. No One has the Real Estate Consumers Back, Period. The Realtors DO NOT serve the Needs of the Customers - nor do they provide other options. They have the Real Estate Market cornered and the Consumer has to use them.. that is why the Consumer KEEPS going back to the Realtor - they have No Real Choice.

The Realtors are self governed, and Ethics and Standards of Practice MEAN nothing - they are in NO Way enforced. The Customer, most of the time have no choice but to use a Realtor, if banks were in real estate and that was a choice along with a Realtor then the Consumer may choose the bank. NAR lobby's and uses part of their billions to fight for and create laws that keep the market cornered and KEEP consumers having to use them and keep real estate agents that want to "succeed" having to Join Them. They use YOUR money to fight in Congress to KEEP you Down.

REALTOR, the Association of Realtors Tries to Claim that Being a REALTOR member is Voluntary .. this is another Flat Out Lie.. Over 95% of Real Estate Agents work for a Company and are not the Broker Owner, so they don't get to decide, they have to join if the Broker Joins.. Voluntary Membership is another Bold Faced Lie.

The Only real protection the Real Estate Consumer has is Knowledge.

real estate advice

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Great Market for the Hard Money Broker

In a Time When it is Hard to Get Regular Loans, the Money People - the Hard Money Placement Folks are making more money then ever. Due to Bad Credit situations and hard to get loans (Because of the Mortgage Industry) another part of the Mortgage Industry gets to make really big bucks by finding you money, saving the day and charging you plenty to do it.

The Real Estate Consumer Thinks that because of their credit or current financial situations in the world ecomony that they have to pay a higher commission, a higher interest rate and in this the Hard Money Loan Guys make a whole lot of money off of you - the Borrower - the Consumer.

Hard Money, that's just it, it is Hard to Get which translates to the Real Estate Consumer as YOU Pay me more to find it for you and you pay over and over again.

The Money is so hard to get that you are willing to do what it takes to make it happen and the Hard Money Broker - is Laughing all the way to the Bank. And not just this month but EVERY single month for the life of YOUR Loan.

Commercial Loans and Hard Money Loans are typically higher interest rates, which translates as More Money for the Hard Money Placement Specialist. You JUST have to payer a higher interest for commercial loans Right? I mean that is Just the Way things Work. This is not true but all they need is for YOU the Consumer to Believe it is True and then they get that Big Fat Residual Paycheck.

If the Loan to Value Ratio Works Out then the Money will be there for your real estate Purchase. How Does the Loan to Value work out ?

There are many ways that the Loan to Value is Forced - seemingly illegally but also seemingy that the lenders PUSH the Hard Money Folks - and the Mortgage Brokers to get these loans closed as quick as they can, to PUSH them through.

The Lender seems to look they way alot and even encourage bad behavior such as "Seller's Contributions". The Lender Does Not really care they just want the loan, the Loan Guys they want the loan and as soon as all the paperwork of your loan is done then the Lender Sells your Loan to unsuspecting 3rd party who does not really know that it was somehow forced.

And that the Real Estate Value is NOT really there but instead all the players involved made it look that way. And By Players I men Hard Money Placement Broker, Mortgage Broker, Appraiser, Realtors, and anyone else in the Real Estate Transaction that had ANYTHING to do with Proving Value.

You Deserve to Know the Truth on this Stuff Folks.
Subscribe to My members only Blog to Find out these Dirty Little Secrets. www.SavvyBroker.com

The borrower is just so happy to get the money coming to them, to get that house for their family or to get that commercial property that they agree to what ever the person getting them the money tells them they need to do to get it.

Next, there are hidden costs, paperwork fees, loan origination fees, and all kinds of hidden costs in the closing papers. However the Real Kicker is Not the Commission and All those "Upfront" fees the Mortgage Broker or Hard Money Placement Guy get, but it is the Trailing commission. Say your Commercial loan is for $700,000 - say the Hard Money Placement gets One Percent upfront plus a few Paperwork fees and whatever they convinced you was necessary. So say they made around $11,000 upfront.. Well They also make, the Difference in percentage of interest, say the REAL lender gets %5 as the Loan Product stated, and the MB convinces you that it really is %9 - then they the Middle Man - the Loan Processor - the Hard Money Loan Guy or whatever Type of Money Middle Person your using, THEY get 4% interest for the LIFE of the Loan, so if you Keep this Loan for say 10 years, then this Person gets a commission of $28,000 a year, that is around $2000 a month (yes a bit more but you get the point). Now times this by 10 years and even more if you use the same person to Re-Finance.

So ONE loan, every month part of your HUGE payment goes to this middle man, NOW had you went directly to the lender your loan would have cost less in the First Place and you Would NOT be Paying a Trailing Commission for the Life of the Loan and NO this does not have to be disclosed to you, it is between the Lender and the Mortgage Consultant - really none of your business - The Real Estate Consumer thinks that %9 is the Best they can get in their circumstance, and if the MB drags this out, then the Consumer is Stuck with them if they want the loan because a new lender may have to dip into the Credit Scores again and that causes a drop so the next time they may not qualify for the Loan... Quite a Legal Scam isnt' it?

they ask, "Do Realtors Lie?"

of Course Realtors Lie, they even Lie when they don't know they are lying because they are 99% of them Followers and they Have to Be to Survive. Whatever the Real Estate Franchise, the National Association of Realtors says is Proven to Work - Tried and True and well Just the Way Thing are - Most Realtors will Just Regurgitate what is Fed to them .. Thereby allowing for the Real Estate Consumer to Get Fed whatever Corporate Wants them to Believe is True to Keep those at the Top in the Billions of Dollars, that the Real Estate Cartel as Become used to. Find Out What Is Really Going on In the Real Estate Industry, Subscribe to My Real Estate Whistleblower Blog at www.SavvyBroker.com

The Truth About the Real Estate Industry

Welcome to the Brokers Zone, where I Crystal L. Cox will Be Blowing the Whistle on the Realtors. I am the Real Estate Nark - telling you all about the Secrets that Go on Behind the Closed Doors of your Real Estate Transaction.

MLS Data is Corrupt. Appraisals are NOT Real. E and O insurance has ONE purpose and that is to Protect the Realtor FROM the Real Estate Consumer.

Mortgage Brokers Lie. Realtors Lie. You Do Not Need a Realtor in Your Real Estate Transaction and in Fact using a Realtor in Your Real Estate Transaction Can Cause More Harm than Good. I am an Ex-Realtor - I am a Real Estate Broker Owner and I am TELLING you the Long Awaited TRUTH about the Real Estate Industry.

Find Out more at www.SavvyBroker.com