Comments on: How to Evaluate a Texas Real Estate Offer http://crosslandteam.com/blog/2008/09/29/how-to-evaluate-a-texas-real-estate-offer/ Austin Real Estate Blog Wed, 08 Feb 2012 19:40:44 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Grant Pollet http://crosslandteam.com/blog/2008/09/29/how-to-evaluate-a-texas-real-estate-offer/#comment-43689 Grant Pollet Fri, 24 Oct 2008 16:05:25 +0000 http://crosslandteam.com/?p=548#comment-43689 This is a sad commentary on the state of some people's education. I am surprised to hear that instructions typed into the provisions section is considered sneaky. What I'm curious is why the sellers themselves didn't pay attention to the clause. This is my opinion: they simply forgot or changed their mind and wanted to bully the other agent into submission. I read a great book called "To be or Not to be Intimidated" by Robert Ringer, and it has some great advice. Less experienced agents may fall for these tricks, but they are all too common for the more experienced. Real Estate is a business of intimidation. No, I don't mean that you should go around trying to intimidate others, but you should be keen to see when the tactic is being used against you. That's my thought at least. Grant Polet This is a sad commentary on the state of some people’s education. I am surprised to hear that instructions typed into the provisions section is considered sneaky. What I’m curious is why the sellers themselves didn’t pay attention to the clause. This is my opinion: they simply forgot or changed their mind and wanted to bully the other agent into submission. I read a great book called “To be or Not to be Intimidated” by Robert Ringer, and it has some great advice. Less experienced agents may fall for these tricks, but they are all too common for the more experienced. Real Estate is a business of intimidation. No, I don’t mean that you should go around trying to intimidate others, but you should be keen to see when the tactic is being used against you. That’s my thought at least.
Grant Polet

]]> By: Steve Crossland http://crosslandteam.com/blog/2008/09/29/how-to-evaluate-a-texas-real-estate-offer/#comment-37746 Steve Crossland Thu, 02 Oct 2008 12:43:14 +0000 http://crosslandteam.com/?p=548#comment-37746 Hi Bill, That's right. There is even a little starter home neighborhood down in Kyle (I forget the name) that doesn't allow over night parking on the street. The other HOA restriction most people don't check is the limitation on the number and type of pets. Many newer HOAs limit to 3 pets, no more of two cats or dogs. So, a buyer with 4 or 5 animals must be made aware of this and read the HOA docs. Also, I was just told by the HOA for a rental house that I own that my fresh new exterior paint job violated the HOA restrictions, because I painted the garage a rust red. I think it looks great, but apparently some neighbors complained that it's too "loud" and it must now be returned to bland beige. Steve Hi Bill,

That’s right. There is even a little starter home neighborhood down in Kyle (I forget the name) that doesn’t allow over night parking on the street.

The other HOA restriction most people don’t check is the limitation on the number and type of pets. Many newer HOAs limit to 3 pets, no more of two cats or dogs. So, a buyer with 4 or 5 animals must be made aware of this and read the HOA docs.

Also, I was just told by the HOA for a rental house that I own that my fresh new exterior paint job violated the HOA restrictions, because I painted the garage a rust red. I think it looks great, but apparently some neighbors complained that it’s too “loud” and it must now be returned to bland beige.

Steve

]]> By: Bill http://crosslandteam.com/blog/2008/09/29/how-to-evaluate-a-texas-real-estate-offer/#comment-37660 Bill Thu, 02 Oct 2008 04:01:57 +0000 http://crosslandteam.com/?p=548#comment-37660 On a related note, we've always been amazed that people don't bother to read the HOA Covenants that determine what you can and can't do to the house/yard. Quote from a neighbor in our old neighborhood -- can you believe we aren't allowed to park on the street? We have nine cars! (No, I'm not exaggerating.) The covenants are written by lawyers and I understand they are hard to read, but why wouldn't you pay attention to something that controls your ability to manage your largest investment? I actually used the covenants to negotiate extra items from the homebuilder -- the covenants required electronic garage door openers, so I had them throw them in as extras at no cost. I strongly suspect that most covenants are complex and restrictive enough that they would put off buyers, so many agents actively discourage reading them. Why put something in the way of a sale? On a related note, we’ve always been amazed that people don’t bother to read the HOA Covenants that determine what you can and can’t do to the house/yard. Quote from a neighbor in our old neighborhood — can you believe we aren’t allowed to park on the street? We have nine cars! (No, I’m not exaggerating.)

The covenants are written by lawyers and I understand they are hard to read, but why wouldn’t you pay attention to something that controls your ability to manage your largest investment? I actually used the covenants to negotiate extra items from the homebuilder — the covenants required electronic garage door openers, so I had them throw them in as extras at no cost.

I strongly suspect that most covenants are complex and restrictive enough that they would put off buyers, so many agents actively discourage reading them. Why put something in the way of a sale?

]]> By: Michael @ The Stage Coach http://crosslandteam.com/blog/2008/09/29/how-to-evaluate-a-texas-real-estate-offer/#comment-37535 Michael @ The Stage Coach Wed, 01 Oct 2008 13:22:31 +0000 http://crosslandteam.com/?p=548#comment-37535 Steve: Nice of you to post this sheet. It never ceases to amaze me how people get towards the end of a sale. It was smart of you to enlist Sylvia's help with the other agent. Contrary to what many people believe, it's not professional to engage the other party in front of your clients. I have been working on a blog of my own regarding contracts for a couple of weeks. It's going to have to be a multi-parter, as it is very long. The point of the article will be that it is amazing how many people just sign on the bottom line, then want to go back and negotiate the terms. Contracts 101 = Once a contract has been presented, the negotiation period starts. Once it is signed by both parties, an agreement has been made. Any changes or further negotiations after option period do not have to be honored as an agreement is in place. At our Austin area Stager's meeting, we joke about collaborating on a book on the amazing things clients try to pull once Staging has been completed. They must think they have the upper hand since they have a house full of our inventory. Not if your contract is drafted properly. thanks for the post! Michael @ The Stage Coach Steve:
Nice of you to post this sheet. It never ceases to amaze me how people get towards the end of a sale. It was smart of you to enlist Sylvia’s help with the other agent. Contrary to what many people believe, it’s not professional to engage the other party in front of your clients.
I have been working on a blog of my own regarding contracts for a couple of weeks. It’s going to have to be a multi-parter, as it is very long. The point of the article will be that it is amazing how many people just sign on the bottom line, then want to go back and negotiate the terms.
Contracts 101 = Once a contract has been presented, the negotiation period starts. Once it is signed by both parties, an agreement has been made. Any changes or further negotiations after option period do not have to be honored as an agreement is in place.
At our Austin area Stager’s meeting, we joke about collaborating on a book on the amazing things clients try to pull once Staging has been completed. They must think they have the upper hand since they have a house full of our inventory. Not if your contract is drafted properly.
thanks for the post!
Michael @ The Stage Coach

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