Realtors

Once you lock up the property it goes into "pending". The house is officially off the market. This is where you let your realtor know that you need to get inspections done and your partner would like to see the property. Hopefully the property is vacant with a lock box on it. You will need to have access to the house to show potentiol buyers that you want to assign it to. It is best to let your realtor know what you are doing and be honest. Chances are the realtor won't like it at first but make sure everything goes smooth and you won't have a problem. It is always best to have a buyers list first. Then when you are looking for properties you are looking for something that someone already wants. Good Luck. (refer to the last conference call to get details on how to create a buyers list)

I just want to warn you about assigning a property if it is listed with a realtor. If you cut out the realtor and talk directly to the owner then you may ... well ... **** them off. Be carefull locking up a piece of property with out working with the realtor because if they know you did that they not ever work with you, and they may possibly let the other realtors in town know. I'm in a small town of 9200 people and all the realtors know each other pretty well.

Once you have the contract on a property it is basicly yours unless you default on the contract or you use an escaped clause to get out of the contract. The house will be considered under contract and anyone else looking at the home will need to know that. They can still make an offer on the home as a back up offer in case the first contract falls through. I have seen a property that was under contract that had over 5 back up offers on it. It does not necessarily take it off the market but you have the rights to the property.

thats how I got my current residence...Don't NOT make an offer on a house just because it is already under contract, cuase you never know

D

to drews comment, your telling me i can't market the house even if i have it under contract? meaning i can't put an AD in the local newspaper under the propertys for sale? YOUR HERO,SULLY.

SEVEN SELLING MISTAKES YOU DON'T WANT TO MAKE!

Mistake
#1 -- Pricing Your Property Too High Every seller obviously wants to get the most money for his or her product. Ironically, the best way to do this is NOT to list your product at an excessively high price! A high listing price will cause some prospective buyers to lose interest before even seeing your property. Also, it may lead other buyers to expect more than what you have to offer. As a result, overpriced properties tend to take an unusually long time to sell, and they end up being sold at a lower price. Mistake

#2 -- Mistaking Re-finance Appraisals for the Market Value Unfortunately, a re-finance appraisal may have been stated at an untruthfully high price. Often, lenders estimate the value of your property to be higher than it actually is in order to encourage re-financing. The market value of your home could actually be lower. Your best bet is to ask your Realtor for the most recent information regarding property sales in your community. This will give you an up-to-date and factually accurate estimate of your property value. Mistake

#3 -- Forgetting to "Showcase Your Home" In spite of how frequently this mistake is addressed and how simple it is to avoid, its prevalence is still widespread. When attempting to sell your home to prospective buyers, do not forget to make your home look as pleasant as possible. Make necessary repairs. Clean. Make sure everything functions and looks presentable. A poorly kept home in need of repairs will surely lower the selling price of your property and will even turn away some buyers. Mistake

#4 -- Trying to "Hard Sell" While Showing Buying a house is always an emotional and difficult decision. As a result, you should try to allow prospective buyers to comfortably examine your property. Don't try haggling or forcefully selling. Instead, be friendly and hospitable. A good idea would be to point out any subtle amenities and be receptive to questions. Mistake

#5 -- Trying to Sell to "Looky-Loos" A prospective buyer who shows interest because of a "for sale" sign he saw may not really be interested in your property. Often buyers who do not come through a Realtor are a good 6-9 months away from buying, and they are more interested in seeing what is out there than in actually making a purchase. They may still have to sell their house, or may not be able to afford a house yet. They may still even be unsure as to whether or not they want to relocate. Your Realtor should be able to distinguish realistic potential buyers from mere lookers. Realtors should usually find out a prospective buyer's savings, credit rating, and purchasing power in general. If your Realtor fails to find out this pertinent information, you should do some investigating and questioning on your own. This will help you avoid wasting valuable time marketing towards the wrong people. If you have to do this work yourself, consider finding a new Realtor. Mistake

#6 -- Not Knowing Your Rights & Responsibilities It is extremely important that you are well-informed of the details in your real estate contract. Real estate contracts are legally binding documents, and they can often be complex and confusing. Not being aware of the terms in your contract could cost you thousands for repairs and inspections. Know what you are responsible for before signing the contract. Can the property be sold "as is"? How will deed restrictions and local zoning laws will affect your transaction? Not knowing the answers to these kind of questions could end up costing you a considerable amount of money. Mistake

#7 -- Limiting the Marketing and Advertising of the Property Your Realtor should employ a wide variety of marketing techniques. Your Realtor should also be committed to selling your property; he or she should be available for every phone call from a prospective buyer. Most calls are received, and open houses are scheduled, during business hours, so make sure that your Realtor is working on selling your home during these hours. Chances are that you have a job, too, so you may not be able to get in touch with many potential

Hope this helps
Zeek