Quote:
Originally Posted by NBRider88
LOLWUT? I hope this whole post was a joke....
Very true, banking is a real pain...and getting a loan through is hard right now. People with great credit, equity, and good income still have to jump through hoops to get a loan. It sucks. But I don't agree with you on the part about using a bank over a broker. Brokers still have access to the best rates available.... 90% of the time, you are going to get a better deal. The times when Brokers rape you have passed...more than 80% of them have already left the industry leaving only the the shops who know how to do loans correctly and fair.
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A lot of bad brokers are now out of the game I'll agree, but not all. In general you'll have a safer transaction dealing directly with a bank but especially if those banks have deals to broker with other banks you can receive great products and have a safer transaction. Kind of like a broker but not really. Truth of the matter is though, there are no 100% deals until the money has changed hands. Its that volatile right now.
Quote:
Originally Posted by MisterSkiMask
I don't understand the 'lowball' thing, its all about market value. The seller may feel that its a lowball, but a reasonable offer is a reasonable offer (maybe a little low so you can negotiate to market value).
My father-in-law came with my wife and I to look at some properties with us (considering a second home), and he kept say well you've gotta' off xx% less then they are asking. Of course I said well you could still be offering way more or less than market value, what they are asking really means nothing if they really want to sell.
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Lowballing = making an offer based off of 0 historical sales data.
ex. - ummmmmmm lets offer them 80k, if they bite then i'll buy it (house would appraise at 180k easily). I've seen that crap, told the buyer to take a hike and find another agent that enjoys wasting his/her time.
As a listing agent it really is not cool, pisses your sellers off and makes you look bad. Hell the worst are the sleezy investment companies that fax you over 'cash offers' or 'letters of intent' based off no data. I still have to present them ethically to the seller which will normally result in a pissed off client even when they know its not your fault.
vultures