Thursday, July 30, 2009

1-888-336-5967, well maybe not

Didn’t get to call the Discount Mortgage folks today as promised. Could have had something to do with the fact that Chris and I spent today showing 3 homes located 1 hour from our office, pulling comps on 2 of them, talking to 2 lenders and a 1/2 dozen Realtors, nabbing one deal and writing 3 other offers, and having a heart to heart with buyer clients worried over the potential future value of a bank owned home currently for sale.

Instead, here’s a short snippet cribbed from an email I sent to another buyer client – a nervous first time buyer at that – who’s signing her life away, with the intent of purchasing an REO bargain.

If you handed the bank's “As Is” addendum to an attorney & paid him to look it over, he'd have a heart attack. He’d charge you thousands to re-write it to favor you or at least not to bend you over at every turn.

Mind you, the bank won’t stand for re-writes. They’ll just sell it to the eager buyer behind you in line.

Above all, keep in mind you're playing ball by the bank’s rules on their field. But we’re in your dugout and we’ll help you learn the rules of their silly game and apply them to your advantage whenever possible.