Tag Archives: loans

Lowball Offers

The listing agent can provide invaluable information that will help you to write the offer in such a way that the seller is likely to accept it. If your agent doesn’t call the listing agent first, for all you know, that home might already be sold. Always call to find out how many offers the agent has received.

Example:I received an offer yesterday on a listing that has 7 offers pending short sale approval, 6 of which are thousands over list price. The buyer’s agent submitted a lowball offer without calling. Just faxed it over. It was a waste of my fax machine paper because it won’t be presented.

Submitting a Lowball Offer With a Low Deposit

Earnest money deposits typically vary anywhere from $1,000 to 3% of the sales price. If a buyer submits an offer way below list price and sends along an earnest money deposit of $100, it makes the buyer appear as though the buyer is living paycheck to paycheck.

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How does the Self Employed get a Mortgage?

Way back in the olden days, 6-8 years ago, you didn’t even need a job to get a mortgage. Lenders were happy to accommodate applicants who simply claimed to have adequate resources to make payments. Verification wasn’t necessary.
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Posted in New Jersey, new jersey real estate, Tenafly, Tenafly community, Tenafly real estate, Uncategorized | Tagged , , , , , , , | Leave a comment