Intuition is something you've either got or you don't. It doesn't seem to me like a person can learn to have intuition. It's sort of sizing up all that is on the surface and juggling it with what you know to be true to try to figure out if a given situation makes sense. It's somewhat, well, intuitive. You might not have all the answers, and probably don't, because part of intuition relies on realizing there is a missing ingredient. The trick, the key, is to listen to your intuition. If you ignore your intuition, then having intuition doesn't matter at all.
In our Sacramento real estate market, buyers are hitting sales prices pretty hard. Earlier this year, one would expect to receive offers for more than list price, but at the moment, prices are falling. So, when I receive an offer for one of my Sacramento short sale listings within minutes of hitting MLS and that offer is for more than list price -- which is probably at market -- my radar goes up. This could be the perfect home for a buyer who has been searching for months, or it could be a buyer who is fast on the draw but who has little intention of seeing the transaction through to closing.
I can question the buyer's agent until the cows come home, but sometimes agents will tell other agents what they think they want to hear. A buyer's agent who quickly responds in the affirmative and immediately returns every document thrown into her lap arouses my suspicions. First, you'd think an agent would need to discuss sensitive issues with the buyer and not make promises without consulting the buyer.
For example, many buyer's agents do not know how to fill out a short sale addendum. They don't realize that a date to wait for short sale approval is required. It provides the basis for the contract. I think they just fill in the property address and tell the buyer to sign it. So, for example, when I email an agent to say I need a date specified in paragraph A of the short sale addendum and it comes back 3 seconds later with a handwritten date, I am pretty confident that the agent filled it in. Above the buyer's signature. Without authorization. Which is appalling. And against the law.
As a Sacramento short sale agent, I don't always have a good feeling about some of the offers I receive. Sometimes, agents make promises their buyers can't keep. As a result, I get the agent's promise in writing. And I get the buyer's commitment in writing, sometimes above and beyond a normal contract. Forget what they say. Look at what they sign.
One of the reasons that my Sacramento short sales close -- often with the first buyer who made the initial offer -- is because I listen to my intuition. It has never steered me wrong. And I advise my sellers accordingly. They can trust me.
Photo: Big Stock Photo
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Certified HAFA Specialist
My Sacramento Real Estate Listings
Elizabeth Weintraub is an author, home buying columnist for The New York Times-owned About.com, a Land Park resident, and a Land Park real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area. Call Elizabeth Weintraub at 916.233.6759. Put 35 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. DRE License # 00697006.
The Short Sale Savior, by Elizabeth Weintraub, available at Amazon.com.
Lyon Real Estate is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan.
Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.
The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate.
Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice. It could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.
