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Perseverance Means No Cricket Sounds Allowed in Sacramento Real Estate
No Sacramento Realtor wants to hear cricket sounds when calling a mortgage lender.
Mortgage lenders in Sacramento are a crucial element to a transaction but they can also be a total bear to deal with. That’s because they tend to either over communicate or under communicate. Now, I suppose they can say the same thing about many Sacramento Realtors, and that might hold some truth as well, but I suspect agents are more likely just not to communicate at all than communicate too much. Cricket sounds are common.
Seems lately either I can’t get mortgage lenders to stop sending me all of their spammy emails or they simply ignore urgent questions. It’s one irritant or the other. Some guy called last week to say he noticed I am closing a lot of sales, so he must have just gotten his license. He wanted to know if I could meet with him because he believes he should acquire more friends. Bully for him. No. Then he asked if he could buy me coffee. No, again. He didn’t have a script for what happens when his target just says no. Not gonna happen, guy.
Dude, I flaked is the usual excuse in Sacramento real estate. Agents drop out of sight, stop communicating on a whim, and when they do pop back into the picture, it’s sorry, I was out of town for several days or wherever. Maybe I’m a bit jealous that I can’t just vanish and skip out of town for a weekend, leaving all of my business hanging, because I’m too damned conscientious. I couldn’t do that to people.
Like the other day I needed an update on a loan to keep my seller from teetering on the brink of insanity due to cricket sounds from the buyer’s lender. The poor buyer’s agent had called the mortgage lender over and over, no response. The buyer’s agent had texted, left voice mails, nuttin’, just crickets. So I thought, well, I’ll give it a shot. I called the phone number, which seemed to be the main line to this particular business, but the phone rang and rang. Then it abruptly disconnected. Cricket sounds.
I sent an email. No response. I called again and this time got dumped into voice mail, so I left an urgent message. Hey, bet this company has a website. I clicked on the page and it bought up names and phone numbers of other people who work at that company. I started calling them one by one, voice mail, voice mail, voice mail and then voila, a person answered. I shared my dilemma that the mortgage lender has not called the buyer’s agent despite repeated attempts, and I couldn’t seem to get through, either. I asked if there was some magical way I could talk to this individual.
Three minutes later, the lender was on the line. See, I have learned to never give up. Perseverance. There is always a way to accomplish your goal. I’ve never been one of those people who says, well, I called but nobody answered. That’s a loser excuse. I stay on it until I get a response. If you’re on the other side of this, you do NOT want Elizabeth Weintraub on a mission. You do NOT want to give a Realtor who thrives on challenges this task. Just return my call is all I ask. Cricket sounds are unacceptable.
Watch Out for Free Home Security Alarm Systems in Sacramento
Those free home security alarm systems often cost more than you think.
There is a certain aggressive home security system company in Sacramento that offers free home security alarm systems in the worst way possible. The company, which I won’t name but it starts with the first letter of the alphabet, apparently encourages its sales people and managers to harangue homeowners and their Realtors. I can’t vouch for the quality of the home security system, but I can share what I discovered about their sales pitches.
For starters, just about all home security alarm systems are free. A mortgage company in Sacramento offers its clients a free home security system, and I imagine it’s because the system is free anyway, but I don’t know that for certain. It just seems that all of the advertising I’ve read for home security systems offer a free basic system. Of course if you want something more effective, with all of the bells and whistles, maybe a security camera on the premises, they will UPSELL that product.
No free lunch. No free gift with purchase. No money trees. No something for nothing.
It used to be in the old days you either bought or leased your home security system. I’d say most of my clients tend to own their home security systems today, so getting a “free” home security alarm system appears to be a marketing ploy. Lots of sellers I know who have home security systems don’t even turn them on half the time. Yet they pay a monitoring fee.
I recommend that sellers turn off security alarms on when showing a home anyway because buyer’s agents will invariably set them off. I would bet a $100 that it happens, except that is also the fee often charged by the police department for responding to a false alarm.
The other drawback is some sales people harass Sacramento real estate agents like no tomorrow. All of a sudden, my cellphone began blowing up a few months back with sales people calling to offer my clients a so-called free home security system and trying to bribe me with a $200 referral for the introduction. Like my integrity is for sale for $200? Not for sale at any price. They can send a sales letter to the homeowner at their address, but I am not turning over my client’s private information.
One of the sales managers for a home security company in retaliation posted a mean review on my Facebook business page, forcing me to block him. Because I told this guy not to call me anymore and refused his offer. A lesser person would get him fired. What does that say about their ethics? Thank goodness the phone calls have since ceased. Unfortunately, the bad news is since cellphone privacy is about to go out the window under the Trump administration, we can probably expect more of this intrusion and invasion into our lives.
How to Complete a Contingency Removal to Release Contingencies
Completing a contingency removal is easier than some agents make it.
Having to explain how to complete a contingency removal to release contingencies is not a topic I particularly enjoy discussing, but I find writing a blog about such matters can really help increase my efficiency. Instead of trying to compose a lengthy email to a buyer’s agent explaining how to complete a contingency removal, I can just send the agent a link to this blog. I send out links to many articles and blogs I have written to other agents and our clients. It saves enormous amounts of time. I mean, why reinvent the wheel?
Let me preface this by saying I understand how much Sacramento real estate agents hate doing paperwork. Most agents prefer to focus on the people side of things, the fun stuff. This part of selling real estate has not changed over the 40-some years I’ve been in the business. It was that way in the 1970s and probably the same way for decades before that. Paperwork is the bane of existence for many agents. Yet paperwork is what keeps an agent out of court and protects your clients.
I don’t enjoy paperwork anymore than the next guy, but I do it. It’s part of my job as a Sacramento listing agent. Some agents ask their transaction coordinator to prepare this form. That can be dangerous in the hands of the wrong TC.
I’ve written many blogs about the reasons to obtain a contingency release and how so many Sacramento listing agents never ask for these documents. I know, bizarre behavior. Maybe that’s part of the problem, if buyer’s agents are rarely asked for contingency removals, why should they know how to complete them? Well, apart from the little fact that possessing a California real estate license requires them to know.
It seems lately I’ve been receiving a contingency removal with only a few boxes checked under paragraph 2, which can leave my seller vulnerable. Deliberately exposing my seller to risk is unacceptable to me.
How to Complete a Contingency Removal #1 for Inspections
So, here you go. To remove the buyer’s inspection contingencies and leave the appraisal and loan contingency in place, there is an easier way to accomplish that directive.
- Check Box 2B.
- Except appraisal by checking the box for Appraisal Contingency
- Except loan by checking the box for Loan Contingency
How to Complete a Contingency Removal #2 for Appraisal
To remove the buyer’s inspection contingencies and appraisal contingency, you could check the box for appraisal under paragraph 1, but it is more complete to do it another way. This is assuming, of course, the appraisal contingency release date is later than the inspection contingency release date.
- Check Box 2B
- Except loan by checking the box for Loan Contingency.
How to Complete a Contingency Removal #3 for Loan
To remove all contingencies, the form is designed to make it very simple. This is assuming, of course, the loan contingency is the last contingency in the chain of events.
- Check Box 2C.
Sometimes, a buyer is ready to release inspection contingencies except the HOA docs are not yet in escrow. This can happen if a person forgets to order the HOA docs or the HOA company takes longer than usual to submit. There is a provision in the Contingency Removal to except the HOA docs in paragraph 2B while still removing the rest of the inspection contingencies.
Remember, too, if a buyer does not sign a Contingency Removal, the contingencies are not released and that limits recourse for the seller. As a Sacramento listing agent who has fiduciary to her seller, listing agents really aughta demand the Contingency Removal. You don’t want a judge asking why did you sit on your ass and make zero attempt to protect the seller’s interests when you represent the seller in this transaction, do you?
If you’re looking to sell a home in Sacramento, call your Sacramento Realtor Elizabeth Weintraub at 916.233.6759.
What Can Sacramento Listing Agents Disclose About Offers?
What can Sacramento listing agents disclose about offers may surprise you.
If you’re wondering about what can Sacramento listing agents disclose about offers to other agents, you might be a bit surprised to learn the answer. That’s because agents often try to be fair with each other, and sometimes they try too hard, in which case it generally means they have forgotten whom they represent. In fact, I had a seller question me last week about why do I refuse to do dual representation? Why do I insist on sole representation of the seller in my real estate practice when I am free to work with buyers as well? Why would anybody do that?
For me, it’s primarily because I like to keep my life simple and avoid lawsuits. I do not see any way that I could ethically represent both parties in a transaction. When I only represent the seller, it is very clear to me that I do not owe the buyer anything apart from honesty. I am not required to be “fair” to the buyer. If the buyer is unhappy with me at closing, all that means is after time passes — when they decide it is time to sell — they will hire me and not some other agent. Because I represent sellers in a one-sided manner.
I’ve had buyers call me and say they were furious with me because my sellers didn’t do this, that, or the other thing during escrow, but now that they’ve had time to reflect, they want me as their Sacramento listing agent.
What can Sacramento listing agents disclose about offers? Listing agents can disclose whatever their sellers authorize them to disclose. If a seller says, for example, that during multiple offers, she does not want her agent to try to obtain the highest price, and some sellers will say that, that’s what I do. If sellers say, yes, go ahead and tell every agent who calls to write an offer that they need to beat XYZ price, that’s what I do. It’s one way to get the highest price for the seller, especially when agents ask: “What do I have to do to win this offer?”
Winning the offer is not enough, though. The buyer’s agent needs to be able to manage the buyer to get to closing. This does not mean bringing an unreasonable message from the buyer to the listing agent and waiting for a response because agents are not “messengers.” It means educating, explaining and guiding, which yes, is a lot more work but that’s why we have buyer’s agents and listing agents. It’s not a matter of can Sacramento listing agents disclose other offers; it’s a matter of following your seller’s instructions.
If you don’t want the terms of your offer discussed with other agents, you can submit a confidentiality agreement. But in practical terms, it just means your buyer’s offer is unlikely to be considered as a strong contender. Sellers don’t have to sign such agreements.
If you’re looking for an assertive Sacramento listing agent, call Elizabeth Weintraub at 916.233.6759.
Tips for Selling a Home as a Successor Trustee Under a Trust
Selling a home as a successor trustee is easier if sellers release the trust documents in advance.
It seems like lately I’ve been working with sellers who are selling a home as a successor trustee under a trust. I’d venture to guess that perhaps 30% of my transactions are for sellers who are successor trustees. A successor trustee is an individual named to manage the trust in the event of a death or an inability of the existing trustee to handle the affairs. Apart from the legal end of title, the sale itself is fairly similar to selling anything else, although generally the successor trustee is exempt from certain seller disclosures.
What I have found in working with sellers who are selling real estate as a successor trustee is they are often under a bit of stress and duress. The home might be a family home where parents once lived or maybe even where the successor trustee grew up. It’s bad enough to be grieving and dealing with your own personal issues after a person you love dies, nobody really welcomes the additional stress they think selling a house will cause.
As their Sacramento Realtor, I try to be sensitive to the attachments and emotions of successor trustees. Not only do they need to deal with selling the house as a successor trustee, but often there are beneficiaries of the trust and distributions of assets that can cause all holy hell to break out. People sometimes get very weird dealing with a death in the family, and there is a side that can rear its ugly head when there are emotions and money involved.
I’m not gonna get into all of the infighting I have witnessed over the years with family members struggling for control and ownership, suffice to say it exists and it’s common. I just try to keep the peace between all parties the best I can. One aspect many people don’t realize is they can’t list a property subject to a successor trustee or sign a contract with a power of attorney. They must sign as the successor trustee.
I also ask for a copy of the trust so I can send it to escrow to determine if we have all of the documents that are required. Sometimes there are pages missing or it is unreadable. More often than not, the affidavit of death is missing and needs to be recorded. It’s a good idea to take care of all of those small details before going into escrow to keep the transaction running smoothly for the successor trustee and heirs.
There are plenty of other things for heirs to argue over. They don’t need to be involved in the technical details and we don’t need problems popping up just before closing. A wiser solution is to handle them in advance. If you’re thinking about selling a home as a successor trustee, call Elizabeth Weintraub at 916.233.6759.
