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SD Realtor
ParticipantYou are not limited to how many times you ask for a reassessment. If you get reassessed because the market tanks, and the market continues to tank, you can get reassessed again. You just need the comps to show your case.
SD Realtor
ParticipantYou are not limited to how many times you ask for a reassessment. If you get reassessed because the market tanks, and the market continues to tank, you can get reassessed again. You just need the comps to show your case.
SD Realtor
ParticipantYou are not limited to how many times you ask for a reassessment. If you get reassessed because the market tanks, and the market continues to tank, you can get reassessed again. You just need the comps to show your case.
SD Realtor
ParticipantDoes the seller’s agent influence lender’s decisions wrt REO’s, if so, how much?
esmith my answers are super speculative –
Do you mean the listing agent (when you said sellers agent?) I assume yes. The agent in my experience doesn’t influence them much at all. The lenders reply on the BPO which is done by someone other then the listing agent and their own analysis for pricing and evaluations of offers that come in. For REO properties the listing agent does pretty much NOTHING. It is a sweet gig.
REO commissions vary. Alot of times they are a 4.5% split. The commission structure is dictated by the listing agreement between listing agent and bank. Indeed the LA may get more commission if you don’t use an agent. Whether he will hold back other offers or give yours preferential treatment is speculative. If he holds back other offers and gets busted by his broker he will be gone. Also the lender may change the terms of the commission structure at their whim.
REO purchases include serious liability releases that the listing agent will make you sign. No matter how airtight your documentation is, theirs will be better. Thus you can most likely use the docs the listing agent gives you. Get lots of due diligence done on your own.
SD Realtor
ParticipantDoes the seller’s agent influence lender’s decisions wrt REO’s, if so, how much?
esmith my answers are super speculative –
Do you mean the listing agent (when you said sellers agent?) I assume yes. The agent in my experience doesn’t influence them much at all. The lenders reply on the BPO which is done by someone other then the listing agent and their own analysis for pricing and evaluations of offers that come in. For REO properties the listing agent does pretty much NOTHING. It is a sweet gig.
REO commissions vary. Alot of times they are a 4.5% split. The commission structure is dictated by the listing agreement between listing agent and bank. Indeed the LA may get more commission if you don’t use an agent. Whether he will hold back other offers or give yours preferential treatment is speculative. If he holds back other offers and gets busted by his broker he will be gone. Also the lender may change the terms of the commission structure at their whim.
REO purchases include serious liability releases that the listing agent will make you sign. No matter how airtight your documentation is, theirs will be better. Thus you can most likely use the docs the listing agent gives you. Get lots of due diligence done on your own.
SD Realtor
ParticipantDoes the seller’s agent influence lender’s decisions wrt REO’s, if so, how much?
esmith my answers are super speculative –
Do you mean the listing agent (when you said sellers agent?) I assume yes. The agent in my experience doesn’t influence them much at all. The lenders reply on the BPO which is done by someone other then the listing agent and their own analysis for pricing and evaluations of offers that come in. For REO properties the listing agent does pretty much NOTHING. It is a sweet gig.
REO commissions vary. Alot of times they are a 4.5% split. The commission structure is dictated by the listing agreement between listing agent and bank. Indeed the LA may get more commission if you don’t use an agent. Whether he will hold back other offers or give yours preferential treatment is speculative. If he holds back other offers and gets busted by his broker he will be gone. Also the lender may change the terms of the commission structure at their whim.
REO purchases include serious liability releases that the listing agent will make you sign. No matter how airtight your documentation is, theirs will be better. Thus you can most likely use the docs the listing agent gives you. Get lots of due diligence done on your own.
SD Realtor
ParticipantDoes the seller’s agent influence lender’s decisions wrt REO’s, if so, how much?
esmith my answers are super speculative –
Do you mean the listing agent (when you said sellers agent?) I assume yes. The agent in my experience doesn’t influence them much at all. The lenders reply on the BPO which is done by someone other then the listing agent and their own analysis for pricing and evaluations of offers that come in. For REO properties the listing agent does pretty much NOTHING. It is a sweet gig.
REO commissions vary. Alot of times they are a 4.5% split. The commission structure is dictated by the listing agreement between listing agent and bank. Indeed the LA may get more commission if you don’t use an agent. Whether he will hold back other offers or give yours preferential treatment is speculative. If he holds back other offers and gets busted by his broker he will be gone. Also the lender may change the terms of the commission structure at their whim.
REO purchases include serious liability releases that the listing agent will make you sign. No matter how airtight your documentation is, theirs will be better. Thus you can most likely use the docs the listing agent gives you. Get lots of due diligence done on your own.
SD Realtor
ParticipantDoes the seller’s agent influence lender’s decisions wrt REO’s, if so, how much?
esmith my answers are super speculative –
Do you mean the listing agent (when you said sellers agent?) I assume yes. The agent in my experience doesn’t influence them much at all. The lenders reply on the BPO which is done by someone other then the listing agent and their own analysis for pricing and evaluations of offers that come in. For REO properties the listing agent does pretty much NOTHING. It is a sweet gig.
REO commissions vary. Alot of times they are a 4.5% split. The commission structure is dictated by the listing agreement between listing agent and bank. Indeed the LA may get more commission if you don’t use an agent. Whether he will hold back other offers or give yours preferential treatment is speculative. If he holds back other offers and gets busted by his broker he will be gone. Also the lender may change the terms of the commission structure at their whim.
REO purchases include serious liability releases that the listing agent will make you sign. No matter how airtight your documentation is, theirs will be better. Thus you can most likely use the docs the listing agent gives you. Get lots of due diligence done on your own.
SD Realtor
ParticipantWantToSell I am puzzled. If you have received 7 offers in a very poor market like this and those offers from a percentage standpoint are only about 11% below your asking price and you have been unable to work out a deal then your philosophy needs to be examined, not the buyers. The fact is that you should be quite happy you have received all this traffic and all these offers.
Your choices are simple. Buckle down and hope that you will get an offer that is higher and closer to your range. Or rethink your strategy and think about whether it is worth selling the home for less now.
Measure the time value of money for your situation. Include the cost of waiting which will be all your recurring costs, mtg, prop taxes, HOA, insurance, etc, verses getting those last few dollars.
Quite honestly the market will bear whatever it will bear for your home. If you look for logic behind it, (and I KNOW sellers logic) which includes, well this home down the street sold for this much so mine should sell for that much, then you are the one who needs to think about your strategy, not the buyers strategy.
Why in the world would you think otherwise in a down market? I don’t mean to be harsh but it is peculiar that in a bear market that we are in, you are confused as to why you are getting lowball offers.
SD Realtor
ParticipantWantToSell I am puzzled. If you have received 7 offers in a very poor market like this and those offers from a percentage standpoint are only about 11% below your asking price and you have been unable to work out a deal then your philosophy needs to be examined, not the buyers. The fact is that you should be quite happy you have received all this traffic and all these offers.
Your choices are simple. Buckle down and hope that you will get an offer that is higher and closer to your range. Or rethink your strategy and think about whether it is worth selling the home for less now.
Measure the time value of money for your situation. Include the cost of waiting which will be all your recurring costs, mtg, prop taxes, HOA, insurance, etc, verses getting those last few dollars.
Quite honestly the market will bear whatever it will bear for your home. If you look for logic behind it, (and I KNOW sellers logic) which includes, well this home down the street sold for this much so mine should sell for that much, then you are the one who needs to think about your strategy, not the buyers strategy.
Why in the world would you think otherwise in a down market? I don’t mean to be harsh but it is peculiar that in a bear market that we are in, you are confused as to why you are getting lowball offers.
SD Realtor
ParticipantWantToSell I am puzzled. If you have received 7 offers in a very poor market like this and those offers from a percentage standpoint are only about 11% below your asking price and you have been unable to work out a deal then your philosophy needs to be examined, not the buyers. The fact is that you should be quite happy you have received all this traffic and all these offers.
Your choices are simple. Buckle down and hope that you will get an offer that is higher and closer to your range. Or rethink your strategy and think about whether it is worth selling the home for less now.
Measure the time value of money for your situation. Include the cost of waiting which will be all your recurring costs, mtg, prop taxes, HOA, insurance, etc, verses getting those last few dollars.
Quite honestly the market will bear whatever it will bear for your home. If you look for logic behind it, (and I KNOW sellers logic) which includes, well this home down the street sold for this much so mine should sell for that much, then you are the one who needs to think about your strategy, not the buyers strategy.
Why in the world would you think otherwise in a down market? I don’t mean to be harsh but it is peculiar that in a bear market that we are in, you are confused as to why you are getting lowball offers.
SD Realtor
ParticipantWantToSell I am puzzled. If you have received 7 offers in a very poor market like this and those offers from a percentage standpoint are only about 11% below your asking price and you have been unable to work out a deal then your philosophy needs to be examined, not the buyers. The fact is that you should be quite happy you have received all this traffic and all these offers.
Your choices are simple. Buckle down and hope that you will get an offer that is higher and closer to your range. Or rethink your strategy and think about whether it is worth selling the home for less now.
Measure the time value of money for your situation. Include the cost of waiting which will be all your recurring costs, mtg, prop taxes, HOA, insurance, etc, verses getting those last few dollars.
Quite honestly the market will bear whatever it will bear for your home. If you look for logic behind it, (and I KNOW sellers logic) which includes, well this home down the street sold for this much so mine should sell for that much, then you are the one who needs to think about your strategy, not the buyers strategy.
Why in the world would you think otherwise in a down market? I don’t mean to be harsh but it is peculiar that in a bear market that we are in, you are confused as to why you are getting lowball offers.
SD Realtor
ParticipantWantToSell I am puzzled. If you have received 7 offers in a very poor market like this and those offers from a percentage standpoint are only about 11% below your asking price and you have been unable to work out a deal then your philosophy needs to be examined, not the buyers. The fact is that you should be quite happy you have received all this traffic and all these offers.
Your choices are simple. Buckle down and hope that you will get an offer that is higher and closer to your range. Or rethink your strategy and think about whether it is worth selling the home for less now.
Measure the time value of money for your situation. Include the cost of waiting which will be all your recurring costs, mtg, prop taxes, HOA, insurance, etc, verses getting those last few dollars.
Quite honestly the market will bear whatever it will bear for your home. If you look for logic behind it, (and I KNOW sellers logic) which includes, well this home down the street sold for this much so mine should sell for that much, then you are the one who needs to think about your strategy, not the buyers strategy.
Why in the world would you think otherwise in a down market? I don’t mean to be harsh but it is peculiar that in a bear market that we are in, you are confused as to why you are getting lowball offers.
SD Realtor
ParticipantHard to see that loan being available at the current 10 year rate.
SD Realtor
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