[SD Realtor]

Nesposito if you feel that nobody is looking out for you then there is a serious problem with your representation. Call up your broker, NOT your sales agent, and explain to the broker that you want to come in for a meeting. Tell the broker what is happening, and that you want to sit down, IN PERSON with the broker, and have the broker explain ALL of the terms of the sales contract. There is not really such as thing as your closing documents. The purchase contract and associated disclosures are part of the documentation for the real estate transaction. The other pertinent documents are your loan documents which is really between you and the lender. Your purchase contract needs to be fully explained to you if you do not understand it all.

If after the conversation with the broker you still feel uncomfortable then yes call an attorney. I do agree with sdr that real estate attorneys usually are not simply to explain the purchase agreement. I would also presume that your agent used the standard CAR forms with possibly the short sale addendums and possibly the San Diego County addendum to the purchase agreement. All these are very standard and no matter what the seller or the sellers lender has said, those documents bind both parties and so do the dates that are on those docs.

So… take a breath, call the broker, go to the office, sit down and have him review EVERYTHING. Then see how you feel.

SD Realtor

[SD Realtor]

Nesposito if you feel that nobody is looking out for you then there is a serious problem with your representation. Call up your broker, NOT your sales agent, and explain to the broker that you want to come in for a meeting. Tell the broker what is happening, and that you want to sit down, IN PERSON with the broker, and have the broker explain ALL of the terms of the sales contract. There is not really such as thing as your closing documents. The purchase contract and associated disclosures are part of the documentation for the real estate transaction. The other pertinent documents are your loan documents which is really between you and the lender. Your purchase contract needs to be fully explained to you if you do not understand it all.

If after the conversation with the broker you still feel uncomfortable then yes call an attorney. I do agree with sdr that real estate attorneys usually are not simply to explain the purchase agreement. I would also presume that your agent used the standard CAR forms with possibly the short sale addendums and possibly the San Diego County addendum to the purchase agreement. All these are very standard and no matter what the seller or the sellers lender has said, those documents bind both parties and so do the dates that are on those docs.

So… take a breath, call the broker, go to the office, sit down and have him review EVERYTHING. Then see how you feel.

SD Realtor

[SD Realtor]

Nesposito if you feel that nobody is looking out for you then there is a serious problem with your representation. Call up your broker, NOT your sales agent, and explain to the broker that you want to come in for a meeting. Tell the broker what is happening, and that you want to sit down, IN PERSON with the broker, and have the broker explain ALL of the terms of the sales contract. There is not really such as thing as your closing documents. The purchase contract and associated disclosures are part of the documentation for the real estate transaction. The other pertinent documents are your loan documents which is really between you and the lender. Your purchase contract needs to be fully explained to you if you do not understand it all.

If after the conversation with the broker you still feel uncomfortable then yes call an attorney. I do agree with sdr that real estate attorneys usually are not simply to explain the purchase agreement. I would also presume that your agent used the standard CAR forms with possibly the short sale addendums and possibly the San Diego County addendum to the purchase agreement. All these are very standard and no matter what the seller or the sellers lender has said, those documents bind both parties and so do the dates that are on those docs.

So… take a breath, call the broker, go to the office, sit down and have him review EVERYTHING. Then see how you feel.

SD Realtor

[SD Realtor]

Nesposito if you feel that nobody is looking out for you then there is a serious problem with your representation. Call up your broker, NOT your sales agent, and explain to the broker that you want to come in for a meeting. Tell the broker what is happening, and that you want to sit down, IN PERSON with the broker, and have the broker explain ALL of the terms of the sales contract. There is not really such as thing as your closing documents. The purchase contract and associated disclosures are part of the documentation for the real estate transaction. The other pertinent documents are your loan documents which is really between you and the lender. Your purchase contract needs to be fully explained to you if you do not understand it all.

If after the conversation with the broker you still feel uncomfortable then yes call an attorney. I do agree with sdr that real estate attorneys usually are not simply to explain the purchase agreement. I would also presume that your agent used the standard CAR forms with possibly the short sale addendums and possibly the San Diego County addendum to the purchase agreement. All these are very standard and no matter what the seller or the sellers lender has said, those documents bind both parties and so do the dates that are on those docs.

So… take a breath, call the broker, go to the office, sit down and have him review EVERYTHING. Then see how you feel.

SD Realtor

[SD Realtor]

Nesposito if you feel that nobody is looking out for you then there is a serious problem with your representation. Call up your broker, NOT your sales agent, and explain to the broker that you want to come in for a meeting. Tell the broker what is happening, and that you want to sit down, IN PERSON with the broker, and have the broker explain ALL of the terms of the sales contract. There is not really such as thing as your closing documents. The purchase contract and associated disclosures are part of the documentation for the real estate transaction. The other pertinent documents are your loan documents which is really between you and the lender. Your purchase contract needs to be fully explained to you if you do not understand it all.

If after the conversation with the broker you still feel uncomfortable then yes call an attorney. I do agree with sdr that real estate attorneys usually are not simply to explain the purchase agreement. I would also presume that your agent used the standard CAR forms with possibly the short sale addendums and possibly the San Diego County addendum to the purchase agreement. All these are very standard and no matter what the seller or the sellers lender has said, those documents bind both parties and so do the dates that are on those docs.

So… take a breath, call the broker, go to the office, sit down and have him review EVERYTHING. Then see how you feel.

SD Realtor

[SD Realtor]

“And the folks that securitized this crap just collected their fees and sold them off to “investors.” So the question is: Why did the investors want this paper? Because they were starved for yield, used extremely bad judgement when analyzing how the loans “should” perform (they also dramatically underestimated the probability of widespread fraud), and thought that if they were wrong they could just sell it off. The problem with the last issue is that everyone tends to get that idea about the same time.”

Let’s not forget that the ratings agencies had a nice little hand in this giving these investments ratings that absolutely made no sense.

SD Realtor

[SD Realtor]

“And the folks that securitized this crap just collected their fees and sold them off to “investors.” So the question is: Why did the investors want this paper? Because they were starved for yield, used extremely bad judgement when analyzing how the loans “should” perform (they also dramatically underestimated the probability of widespread fraud), and thought that if they were wrong they could just sell it off. The problem with the last issue is that everyone tends to get that idea about the same time.”

Let’s not forget that the ratings agencies had a nice little hand in this giving these investments ratings that absolutely made no sense.

SD Realtor

[SD Realtor]

“And the folks that securitized this crap just collected their fees and sold them off to “investors.” So the question is: Why did the investors want this paper? Because they were starved for yield, used extremely bad judgement when analyzing how the loans “should” perform (they also dramatically underestimated the probability of widespread fraud), and thought that if they were wrong they could just sell it off. The problem with the last issue is that everyone tends to get that idea about the same time.”

Let’s not forget that the ratings agencies had a nice little hand in this giving these investments ratings that absolutely made no sense.

SD Realtor

[SD Realtor]

“And the folks that securitized this crap just collected their fees and sold them off to “investors.” So the question is: Why did the investors want this paper? Because they were starved for yield, used extremely bad judgement when analyzing how the loans “should” perform (they also dramatically underestimated the probability of widespread fraud), and thought that if they were wrong they could just sell it off. The problem with the last issue is that everyone tends to get that idea about the same time.”

Let’s not forget that the ratings agencies had a nice little hand in this giving these investments ratings that absolutely made no sense.

SD Realtor

[SD Realtor]

“And the folks that securitized this crap just collected their fees and sold them off to “investors.” So the question is: Why did the investors want this paper? Because they were starved for yield, used extremely bad judgement when analyzing how the loans “should” perform (they also dramatically underestimated the probability of widespread fraud), and thought that if they were wrong they could just sell it off. The problem with the last issue is that everyone tends to get that idea about the same time.”

Let’s not forget that the ratings agencies had a nice little hand in this giving these investments ratings that absolutely made no sense.

SD Realtor

[SD Realtor]

I agree with you… I think your analysis is objective.

The bounce that we have have seen has indeed been robust in comparison to the past several months of activity. Taken in context to yoy numbers it is heartening to see. I also think that there is a psychological different though right? I know last year I sold a listing in Summerset and the year before that a listing on Goleta. Both those homes took awhile to sell. This year as you well know AN the majority of the MM sales that we have seen have been like a feeding frenzy due to aggressive pricing. This of course explains the 18% drop.

So yeah what we need is alot more of these to exhaust the supply of these buyers out there AND/OR resellers who are non distressed to start pricing more aggressively.

SD Realtor

[SD Realtor]

I agree with you… I think your analysis is objective.

The bounce that we have have seen has indeed been robust in comparison to the past several months of activity. Taken in context to yoy numbers it is heartening to see. I also think that there is a psychological different though right? I know last year I sold a listing in Summerset and the year before that a listing on Goleta. Both those homes took awhile to sell. This year as you well know AN the majority of the MM sales that we have seen have been like a feeding frenzy due to aggressive pricing. This of course explains the 18% drop.

So yeah what we need is alot more of these to exhaust the supply of these buyers out there AND/OR resellers who are non distressed to start pricing more aggressively.

SD Realtor

[SD Realtor]

I agree with you… I think your analysis is objective.

The bounce that we have have seen has indeed been robust in comparison to the past several months of activity. Taken in context to yoy numbers it is heartening to see. I also think that there is a psychological different though right? I know last year I sold a listing in Summerset and the year before that a listing on Goleta. Both those homes took awhile to sell. This year as you well know AN the majority of the MM sales that we have seen have been like a feeding frenzy due to aggressive pricing. This of course explains the 18% drop.

So yeah what we need is alot more of these to exhaust the supply of these buyers out there AND/OR resellers who are non distressed to start pricing more aggressively.

SD Realtor

[SD Realtor]

I agree with you… I think your analysis is objective.

The bounce that we have have seen has indeed been robust in comparison to the past several months of activity. Taken in context to yoy numbers it is heartening to see. I also think that there is a psychological different though right? I know last year I sold a listing in Summerset and the year before that a listing on Goleta. Both those homes took awhile to sell. This year as you well know AN the majority of the MM sales that we have seen have been like a feeding frenzy due to aggressive pricing. This of course explains the 18% drop.

So yeah what we need is alot more of these to exhaust the supply of these buyers out there AND/OR resellers who are non distressed to start pricing more aggressively.

SD Realtor

[SD Realtor]

I agree with you… I think your analysis is objective.

The bounce that we have have seen has indeed been robust in comparison to the past several months of activity. Taken in context to yoy numbers it is heartening to see. I also think that there is a psychological different though right? I know last year I sold a listing in Summerset and the year before that a listing on Goleta. Both those homes took awhile to sell. This year as you well know AN the majority of the MM sales that we have seen have been like a feeding frenzy due to aggressive pricing. This of course explains the 18% drop.

So yeah what we need is alot more of these to exhaust the supply of these buyers out there AND/OR resellers who are non distressed to start pricing more aggressively.

SD Realtor

[Author]

Posts