What Others Won't Tell You
These Are Just A Few 'Myths and Truths'. Call Us and We'll Keep You On Track, 914.413.3689
Deals fail due to the wrong attorney or the wrong Realtor or the wrong lender. (Or the wrong seller - the is no accounting for people). Get references, Interview them for focus, experience, and results. We provide the questions to ask.
Applying for the mortgage is the most difficult part of all this. Just when you think you’re clear of the home search with an AO and completed inspection. We may or may not do your mortgage, but we are qualified to counsel you through the process in any case, to make sure you’re getting treated right wherever you go.
There are at least 4 types of “Accepted Offer”. A property with an “AO” may take bids and still be available, or not. Depending on which type of AO, and the real estate cultural of a given geography, there are varying levels of risk the transaction won’t close.
The first property you see may be uniquely perfect for your needs, but if you’ve not been fully briefed (most Realtors do not brief thoroughly, if at all), you won’t be able to stomach a decision, or you’ll buy it and then back out, purely from cold feet.
Myth - Once a contract is sent, the lawyers take it from there. Truth: NO. We have seen good lawyers gap in their diligence and/or etiquette and blatantly blow deals. Your Realtor, and you, MUST stay close to the contract process. Don't just go in and sign, and while in the contract process do not fail to talk to your lawyer Every Day. Terminate he/she if they don't call back - you'll get another. Talk to us and we'll tell you more, and we'll protect you from that nonsense.
Attorney or Realtor to Handle a Given Problem? Attorneys are trained to argue. Realtors are trained to forge compromise. Both are valid business styles and in this context, deal problems should be handled by the Realtors, which flies in the face of the attorneys' egos. Insist on it, or a small issue can explode into a deal-breaker. Similarly, do NOT sign any contract until your Realtor has seen it. This also flies in the face of the attorney's egos. Insist on it; one errant lawyer inserted an incorrect mortgage amount as duped by the other lawyer and without checking the deal memo - he didn't consult the Realtor, then the client signed what the lawyer told to him to sign, and that attorney's carelessness cost the buyer an extra $30,000 in an appraisal dispute.
Variables that are out of our control that can affect things negatively or positively:
Seller’s or buyer’s personality and perspective and inclinations
Other party’s agent’s personality, perspective, and inclinations
HOA or coop or condo rules
Good or bad attorneys
"Uncle Joe’s" effect on your thinking in lack of good counsel
We brief you on all of this, at all stages, to facilitate the smoothest transaction possible.
Variables in our control to be mindful of so we don’t hurt ourselves:
How we treat agents and sellers
How we manage Uncle Joe.
Responsiveness
Prioritizing showings over errands
Stay on top of the listings daily once you're serious and are pre-approved!
*Important qualifications regarding all information on this site: All numbers represent the experience of our agents and may not accurately reflect national averages or others' numbers. All examples are anecdotal, and should not be regarded as relevant to your own circumstances. Our firm provides the information on this website for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, real estate advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, finance, realtor estate r other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation. All information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose. To review your situation, reach us at 914-413-3689.