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The Real Estate System Backstory
Ninety percent of residential real estate consumers are unaware of the risks to which they are exposed. When asked how many part-time, untrained, unethical, and/or incompetent agents exist, a senior official of the National Association of Realtors answered, “ We have no idea.”
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Seven Reasons to be Wary of MLS
The MLS is over 100 years old and technology has rendered MLS obsolete. MLS has a sister in the form of a real estate brokerage which technology has also rendered obsolete.
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Who Regulates Real Estate Agents?
The Photo above is a residential contract from 1953 that included a trade-in home. What NAR accomplished in 71 years morphed a simple transaction into a complicated turmoil. Dear Monty: We have a significant problem with a real estate transaction. We ran across a state agency called a “real estate commission.” When we researched the…
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Five Options to Downsize in Turbulent Times
What should a home seller when changing homes in turbulent times
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When the Occupancy Date Kills the Negotiation
Dear Monty: We just lost the home we wanted. We have been looking for over a year, and finally, a house came up for sale where we want to live. We met with the seller and agreed on the price, but they wanted six months after closing to move out. Our lease was due, school…
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The Five-Year Rule Risk for First Time Homebuyers
Dear Monty: I am writing to tell you my story. Please share it in your column to warn others. I learned about The Five-Year Rule after I lost my entire down payment. When we bought our home about three years ago, no one we dealt with mentioned the Five-Year Rule. Our real estate agent, the…
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An Appraisal Killed Our Home Sale
Dear Monty: An appraisal killed our home sale. We accepted an offer on our home 45 days ago. The lender just turned down the buyer’s loan because the appraisal was $35,000 lower than the contract price. The buyer had a twenty percent down payment but no extra cash to make up the difference. We had…
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How First Time Home Buyers Best Learn to Make an Offer
Dear Monty: We are first-time home buyers. We didn’t plan on buying a home for several years. We recently learned that we will soon receive a substantial gift. Our benefactor conditioned the present on a home purchase. We both have satisfying careers and secure positions but need more knowledge or experience in buying a home. We…
