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The New Brokerage Firm

  Supervision, Office Policy and Attention to Detail You have just opened a new brokerage company and things are really happening. Agents want to “come over” and people are taking listings, showing buyers and making sales. Man, that is the way it should be. What should you be doing to make sure that it all … Continue Reading

Loan Conditions Deadline?

What Happened to Loan Approval or Loan Commitment? What does the Loan Conditions Deadline really mean? By that deadline date the buyer needs to be satisfied that the loan is ok with the buyer. Specifically “Contract is conditional upon Buyer determining, in Buyer’s subjective discretion, that the availability, terms, conditions, and cost of such New … Continue Reading

The “Flipper” and the REALTOR®

  The REALTOR® listed the sellers’ house and started working hard to sell it. Along comes the flipper and asks if he can buy it at a reduced price in a short sale. The REALTOR® writes the contract and submits it to the seller who signs it and then it is submitted to the lender … Continue Reading

How to Breach a Listing Agreement Without Even Trying

  Reprinted from REALTOR® Magazine  May, 2003 by permission of the NATIONAL ASSOCIATION OF REALTORS® Copyright 2003. All rights reserved. Q: What are the main forms of contract breach in real estate? Frascona: In real estate, contract breaches can occur in the property listing agreement between the broker and the seller or in the sales … Continue Reading

Payback Time – Earnest Money

  Reprinted from REALTOR® Magazine( by permission of the NATIONAL ASSOCIATION OF REALTORS®. Copyright 2002. All rights reserved. Oxymoron: Words used together that have opposite meanings – jumbo shrimp, for example. A seeming oxymoron is nonrefundable earnest money, a euphemism that some sellers use for a deposit that they intend to keep whether or … Continue Reading

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