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There has never been, in recent history, a better time for first-time homebuyers to negotiate a sale on any property...bank-owned, owner-owned or short sale. However, there are hazards in the making.
If you think that bypassing a Buyer's Representative and dealing directly with the listing agent gives you an advantage, you are sorely mistaken. It is your choice, however you will be handing over all of your confidential information to the person listing the property. Now, in the State of Minnesota, that constitutes dual agency which means that the agent holds no preference to either party. They cannot, or should not, disclose price, terms or motivation to either party. Do you really want to give up the representation of what could be a bulldog on your behalf to a chihuahua? (Sorry to you dog owners for the analogy.)
You likely won't save money. However, you are giving the agent a double dose of what is best for the agent. A high price with little negotiation means a higher percentage of the sale in the pocket for you-know-who. So, when you are buying, be sure who is representing you. You know best. However, we don't define ourselves as wolves and lambs for nothing. You must be sure you know what you are doing if you go it alone...Just stay safe out there. Especially, these days. Trust me, bank-owned properties and short sales are no easy walk in the park. It was certainly bad enough with one seller-one buyer transactions, but these have cost me sleep and sensibility more than once.
Be safe and hire your own representation. It usually costs you nothing and you will be a lot safer, saner and glad you did in the end.
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I really don't quite know how to say this...
Today was really rough. We had a closing on a bank-owned property that had a purchase agreement written on April 10...yes, 3 months ago. BANK-OWNED. Today, it closed, dry. But, it closed. Touch and go all the way down to the wire. The buyer and buyer's agent were among the best people I have ever had the privilege to work with. It has taken every nerve in my body, a couple of drinks and more fortitude than I ever want to muster again in the next few months to get this bloody deal to close. But, the poor buyer and buyer's agent had it much worse.
It was also my birthday. I have had so many nice people send me wishes on facebook and I need to thank them all...and then during closing I got the nicest video birthday greeting from Jeff Turner. How he finds the time to do that is beyond me. But, I have always been a big fan of his, although we haven't communicated much lately. What a guy! I also want to thank Deb Walsh, Ryan Hukill, Petra Norris, Charlie Harden and a bunch of other great friends. I needed this today.....
Want to make someone's day? Whether or not, it's their birthday, just reach out and say hi....sometimes that's all it takes, especially if you know they might be going through a rough spot. I love my friends. Love yours, too.
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Clearwater, MN 55320
Status:
Active
List Price:
$329,000
Original List Price:
$329,000
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Total Bed/Bath: 2/ 2 Garage: 0 Year Built: 1956
Directions:
Map Page: 15 Map Coord: C4
Cty Rd 8 North of Maple Lake to Cty 39 Left to Cty 7 Right to 120th St left to Grant, Right
(Click icon for Virtual Earth Map)
MLS Area:
341 - Wright County (Except Buffalo)
Style:
(SF) One Story
Const Status:
Previously Owned
Foundation Size:
1,160
AbvGrdFinSqFt:
1,160
BelGrdFinSqFt:
Total Fin SqFt:
1,160
Acres:
0.200
Lot Size:
78lkx122x74x116
TAX INFORMATION
Property ID:
204120000020
Tax Year:
2008
Tax Amt:
$1,914
Assess Bal:
$50
Tax w/assess:
$1,964
Assess Pend:
Unknown
Homestead:
Yes
List Date:
05/04/2009
Received By MLS:
05/04/2009
Days On Market:
2
CDOM
History
General Property Information
Legal Description:
KLEMZ ADDN LOT 002
County:
Wright
Postal City:
Clearwater
School District:
876 - Annandale, 320-274-5602
Mfg Home w/HUD#:
No
Complex/Dev/Sub:
Klemz Addition Common Wall: No
Road Frontage:
Private, Unpaved Streets
Zoning:
Residential-Single
Accessibility: No Stairs
Lake/Waterfront:
Lake Front
Lake/WF Name: Sugar
Remarks
Agent Remarks:
C/D TERMS $79,000 DOWN, 5.75 % ON BALANCE FOR 15 YEARS. BRING BUYERS INFORMATION SHEET. NEED AS IS ADDENDUM.
Public Remarks:
ENJOY SPECTACULAR SUGAR LAKE IN THIS LARGE 1160 SF CABIN ON 78' OF LEVEL SAND BEACH IN A PEACEFUL, W. FACING BAY. GREAT CABIN FEEL IN THE KNOTTY PINE FAM. RM. WITH MANY WINDOWS FOR STUNNING LAKE VIEWS. EXCELLENT SWIM & SKI LK. 2 STORAGE BLDG. C/D TERMS.
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I have been busy with my buyers. I have been busy with my listings. I have been busy setting appointments for listings and buyer meetings. But, I haven't in a while taken other buyers' agents clients to show properties. It's been two years! I love that that is now the case. And, inventory is shrinking now! We have had multiple offers on our bank-owned properties. And, they are getting above list price!!!! How cool is that? I wished that we could recoup some of our losses for all of us dedicated agents. And, it seems to be coming true. Keep your fingers crossed. Everything could be coming back to life. Go.....Go....Go!
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Spring is typically the time that I really come alive...and, believe me, being a redhead, at least by nature, I am always alive!
This weekend the man of the house was busy in his workshop making birdhouses which he puts on pitchforks. I know, it sounds weird but they are very popular for gardens. And, he sells them.
Okay, just picture it, a birdhouse on a pitchfork....I tried for half an hour to import the picture, but it doesn't work so we are moving on now.
At any rate, as I said, he sells them so they are new housing. Yesterday, as I was glancing out the deck door, I see a prospective buyer. No, not a human. A male wren. He was very excited, popping back and forth, peeking in the window. And chirping away...presumably to the wife who was likely nearby. I started to laugh, and he flew off. Then he brought her over to check it out just a short time later. There was no realtor bird nearby that I could see. But, I think they're buying. Unless he can move it quickly.
If the birds are buying, and my buyers are buying, why aren't you buying?
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