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Ardell's Seattle Area Real Estate blog

Ardell's Seattle Area Real Estate blog
ARDELL's Seattle Area Real Estate Blog talks to consumers about the ins and outs of the Real Estate Market in the Seattle Area.
Articles: 1, 2, 3

Articles

Many and Varied Fees
2007-01-31 14:17:00
One thing I learned this year is that there are many different types of ways to approach a real estate purchase or sale, and many different fee arrangements to go with. The lowest fee that I charged was $3,000 for house that sold for over a million dollars.  The buyer had happened upon the house which was not for sale.  The seller only needed to be out of the room so that the buyer could formulate their offer with a disinterested 3rd party.  I acted as a "transaction broker" representing neither part, and charged a $3,000 flat fee. Oh, no, I forgot.  The lowest price I charged was zero.  I represented the seller and the buyer happened in just as I was receiving an offer from another agent.  He was shy and thought that since I had one offer, he should "wait and see what happens" .  He and his girlfriend lived the house and I threw in the 3% buyer agent fee so that they could get it.  He thanked me so much from beginning...
More About: Fees , Vari
People who trust no one, are not to be trusted
2007-01-31 14:06:00
It is really very true that the most distrustful people, are those who are not to be trusted. I had a client this year that asked twenty "what if "questions for every single topic that came up in the real estate transaction.  She saw a problem behind every word, and an obstacle at every point of the way.  She called me late at night.  She called me almost every day on her lunch break.  This went on for months and months, long before they even started looking for a house and before they listed their home for sale. The spouse was SO exceptionally nice that I persevered for their benefit.  Several times he begged me not to fire them because the wife was being so very difficult. In the end, I had to sell the house twice.  Every time I turned around I discovered something wrong with the house, and it was obvious that the owner knew all along and was hoping no one would notice.  I brought in my handyman and fixed everything that was w...
More About: People , Trust , Rust , No One
Why I gave the nice young couple $13,000
2007-01-31 13:56:00
This isn't the real couple, who I gave the $13,000 to, but I think they demonstrate the point.  From the minute I met them, I knew they were going to be a joy to work with.  They were pleasant and happy and we all really got along so well.  Even before we went out to look at property, at our very first meeting sitting at the table, I took out a piece of paper and made some calculations based on our discussion.  I said, "I' am going to give you $12,000 toward your closing costs" (turned out to be closer to $13,000 at the end.) They were very surprised.  They had already hired me, and couldn't understand why I offered them something they didn't ask for.  It was just a gut feeling.  I knew they wouldn't argue with me when I asked for the key to their townhome so that I could stage it while they were away.  I knew that they weren't going to play stupid mind games, trying to beat every last dime in order to save a  penny. ...
More About: The N , Coup , Couple , Young , Nice
Why I wrote the buyer a blank check
2007-01-31 13:40:00
It was the day of signing.  I had already given the buyer $900.00 toward their closing costs on the small house they were purchasing at a very modest price.  I had already bought them a washer and dryer.  At the last minute there was a lien in the buyer's name and escrow couldn't close unless he paid it off.  He insisted he had already paid it, but there was no time to convince the lienholder to remove it before they signed the final papers.  Escrow couldn't proceed with the lien unpaid and the amount of the lien was somewhat undetermined. A delay was just not in the picture.  The seller had already moved out, the buyers had already given notice on their apartment.  I turned to the closing agent and told her to take the amount from my commission.  She was flabbergasted.   We didn't know the exact amount of the lien, but we did know it was less than the commission.  The Escrow Company agreed to continue with the signing and c...
More About: Buyer , Check , Wrote , Blank
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