Terry Osburn, Broker Associate

This may have already been shared in regards to the passing of Paul White yesterday.

Even though I never had the opportunity to actually work an escrow with Paul my interactions over the years with him showed him to be a man of integrity and honor.

You run into people throughout your life and some seem to leave a bigger imprint than others.

Paul was one of those. He always had a smile. He was gentle yet stood tall and steadfast. He was a Professional. He was a role model.

Contra Costa Real Estate and consumers alike lost a great partner yesterday in real estate.

Paul , may you rest in peace.

Remember this, many have addendums they want you to sign.

PLEASE read them carefully and/or take to an attorney. These addendums HAVE NO BENEFIT to the buyer nor any protection for the buyer.

The addendums are solely for the protection of the bank, asset management company or investor and/or all of the prior mentioned.

NEVER give up your rights to inspections and review of disclosures.

Many have changed the active removal of contingencies to passive.......

Many indicated a $100 a day penalty if you do not close on time.....

ALWAYS make sure you have in writing a SIGNED RATIFIED contract and do not base your time periods or inspections based on a verbal agreement.

Bank owned properties may or may not be the best choice or value........

It is not atypical for some banks to get you ratified contract several weeks after the fact......while still reviewing and possibly accepting another offer thereby knocking your purchase offer out of the running......

Just be aware, never assume and always get something in writing........

The greatest little cafe to go to is Queenie's on Hwy 1. Is next to car repair shop and two doors down from the local grocery mart. Pet friendly. Has water bowl outside for the pup and free doggie biscuits inside to give to your pup. Oh, they have lattes, cappucino and mocha too!

They are closed on tuesdays and wednesdays .

Excellent salads, Breakfast all day, luscious home made pie........ Yes, I splurged a bit on my diet and split a piece of blackberry pie..........

Elk is about 20 min south of Mendocino. About 20-25 minutes north of Point Arena.

Across from the cafe is Greenland State Park. Path takes you down to the ocean for breathtaking views.

The path is a little steep at times and rocky but well worth the trek.

Greenwood Pier Inn down the road is pet friendly on some of their rooms.

Just FYI...

You know it never ceases to amaze me the on bank owned property(REO's) the attitudes purveyed and delays in responses and of their requests of potential buyers.

I have no problem with the confirmation of buyer's ability to purchase by the banks own lender.

I take great exception though when it is relayed to me that the bank who owns the property will refuse to give credit back in closing costs UNLESS your buyer uses the banks own lending service.

I take great exception that the banks are allowed to flagrantly disregard RESPA rules by demanding the buyer use the banks own choice of escrow and title company and then NOT pay the fees for such.

It is a known fact that those title companies in southern california historically have charged excessively more than the local title companies where I am located in the greater Walnut Creek area.

So the buyer not only has to give up their right of choice for escrow company but also has to incur a greater cost in closing costs.

I take great exception when a banks response may be a verbal acceptance of contract but until written acceptance has been conveyed which can take weeks and weeks the buyer is not assured of a ratified contract and the bank has the right to pull back their acceptance until such approval in writing has been received and acknowledged by the buyer. YET they are expected to move forward with the escrow process or inspections ............

I guess I missed something along the way here.............

I just closed my first short sale with Wachovia. What a difference! 2 months vs 4-9 months. No BS.....just down to business, give me the facts and lets move forward.

What a delight and relatively coherent process. Now if the rest of the banking and lending industry would get on board we can move the inventory and get the housing industry back on its feet.

The negotiator was professional, did not take things personally, did NOT get hysterical and appeared to be very well educated and knowledgeable.

Wachovia has certainly realized the urgency and essence of working with short sales and moving forward as well as properly training their negotiators.

On the other side after 9 (NINE) months Countrywide(Now Bank of America) finally closed on one of my homes in Antioch.

What a nightmare, closed the file twice, first time entirely their fault, would not take ownership lost buyer. took 6 months to get short sale approval meanwhile turned out the buyer did not qualify for loan but I was able to put another one in immediately in May and finally 2 weeks ago we closed. By the way did I mention that the investor wanted exactly this amount $245,405.23

The purchase price had to be written up for the above number. Nothing more, nothing less.

Catherine and I both were fortunate enough and I say this with a smile to work with a negotiator from another banking industry who is hysterical , emotional, hates realtors, would constantly reference it was all about our commission instead of the task at hand, totally unprofessional, came across as someone who was picked up off the streets without training. I remember speaking to Catherine about her and unless you personally have dealt with someone like that it is hard to comprehend.

Then Catherine calls and says you will not believe who I have to deal with on this file and you were right , she yells, she is hysterical and condenscending. Why we were both blessed with the same negotiator I will never know.

So I tip my hat to Wachovia and say THANK YOU for a job well done.