Top 15 Things A Listing Agent Won’t Tell Sellers … (But REALLY Should …)
Wednesday June 24, 2009
Top 15 Things A Listing Agent Won’t Tell Sellers … (But REALLY Should …) is a fun post to read over at Trulia.com. I don't necessarily agree with all of the items 100%, as some are maybe a bit too direct. But, a professional assessment of a home's marketability demands that we take factors like these into account. And, it isn't so we can not mention them to the Seller, but gripe about them to our peers back at the office.
My main complaint with the post is the fact that some of the statements are "blanket" type, taking in too much in the way of assumptions...like the last one about our value as Realtors.
NY was not my territory, but as an asset manager for a large lender in their REO department up until recently, the one and only NY property I handled for the bank may be helpful here. The buyer was not the victim in this case, though. The offer was cash, with 10% down ($25K), and several months in escrow by the time I got the file, with no closing date in sight. The buyer had changed the offer to financing somewhere along the line, eventually signed a cancellation form agreeing to let the bank keep the earnest money due to bad faith on the buyers’ part, but the bank’s attorney at the title company advised that the seller would never collect that money as the buyer could then sue to get it back. It made no sense at all to me, since I sell in IL and WI and that would not be an issue here, but it sounds like this particular buyer has not yet exhausted all their options under NY law, if my info directly from a NYC attorney is correct.
Thanks Karin for taking the time for a detailed comment. Good info.
Jim