Can a contract of sale be ratified by email?

This past week I taught a continuing education class on  the 3D’s of Real Estate - Disclosures, Duties & Diligence.

When we were talking about the Diligence, there was discussion about contracts.
During the discussion, we addressed several issues that are common pitfalls of agents when completing the contract form and in getting an offer ratified.

In my discussions, I stressed the importance of real estate professionals being careful, when completing the contract form, not to practice law.  

Also, I made the statement that when putting contingencies, one must be careful to use words that indicate what the situation really is.  For example,

a b...

Joe Eddleman

   Joe Eddleman --how do I go about writing about this most unusual gentleman.

   This is a gentleman who was loved by so many -- I just feel as though I need to write a post about him  so that others could know him and know how much he was cared for.

   I will apologize right now -- normally, my posts are short and this one is long -- but then that is appropriate since the post will be like our friend, Joe -- wordy.

   In November 1999 Joe Eddleman came to my office and we sat in the small conference room discussing the benefits of AgentOwned Realty --- it was a long meeting mostly because Joe loved to talk.  When he came in, he told me that he had pretty much made of his mind...

Listings Agents Need to Be Careful

   Just recently, I saw a MLS printout of a listing which had tons of misinformation.

   Listing agents, I am speaking to you. Buyer agents have a right to be able to depend on the information that you put into the MLS.

OK, I do understand that it is also the buyer’s agent’s responsibility to check things out, but come on, we should be able to depend that our MLS has the correct information.

I’m speaking about the # of bedrooms -- this was one item -- listing said that there were 5 bedrooms, but there are only 4.  In order to be counted as a bedroom, there must be a closet.

The MLS says that the home has a game room & a media room -- but there is only one o...

Correct way to Present List of Requested Repairs

There are always at least 2 ways to do things -- the correct professional way and the slack way.

   Buyer A has a ratified contract on Seller B’s property. Buyer A has managed to get a “real deal” on the property.
 
   Buyer A is represented by Agent A and Seller B is represented by Agent B.

   The ratified contract is contingent upon home inspection being satisfactory to the Buyer A.

   Buyer A hires a home inspector who does a very thorough job of the inspection -- his report is full of repair items -- most of the repair items are insignificant -- things like a cracked switch plate, etc.

   Agent A then submits to Agent B the home inspe...

Selling a First Right Of Refusal

You have a contract of sale that has a First Right of Refusal clause for additional lots to be purchased at a price to be determined as long as the closings occur by February 2014.  

You have closed on the original contract, but this FROR survives the closing.

Can you sell this FROR? If so, what must happen?

It turns out that this is a true particular situation--

Buyer A has ratified contract with the FROR clause that survives  closing. Buyer A is represented by agent A.

Buyer B purchases the FROR from Buyer A.  Buyer B then enters into a total new contract of sale with the seller -- does not take the original contract and attempt to close on it.

Now, the que...

I have started a series of blog posts about “Where in Mt Pleasant”.

Previous winners are:

 

Photo 1 – Billie Jo VanDusen – photo was view of fountain by Chick Fil A on Johnnie Dodds Blvd.

Photo 2 – Clara Hahn – photo was large oak tree at Precisio0n Tune at corner of Venning Rd and Hwy 17N 

Photo 4 – Ute Appleby – photo was The Old East Cooper Hospital sign

Photo 5 -- Angus MacBride -- photo was of the swimming pool at The Hertiage Village off of Mathis Ferry Road

Photo 6 -- Spencer Stegall and Kim Peasley-Parker tied -- photo was picture of Boyd & Liz's back yard

 

This is the way the contest works.

I will post a photo that is taken somewhere in Mt Pleasant SC. Yo...

Mama Liz talks about another example of why one needs to have owner's title insurance.

 

 

 

 

 

 

 

 

This post written on Saturday August 27, 2011.

 

What a beautiful day to be alive! 

As I sit on my porch, I begin to ponder.  Boyd is inside watching golf and I'm sitting out here with nature. I'm pondering what is about this porch this intrigues me.

There is a nice warm breeze and I have such a peaceful beautiful view.

Our porch is elevated -- this makes my view even better and the breezes better.

There is a lake that touches our back yard -- I can see the water thru the branches of gorgeous oak trees, many of which Boyd have planted.

I can also see my grandson, Wilson, taking one of his many walks around the property.

The tree branches swaying gently in the breeze makes for ...

I have started a series of blog posts about “Where in Mt Pleasant”.

Previous winners are:

 

Photo 1 – Billie Jo VanDusen – photo was view of fountain by Chick Fil A on Johnnie Dodds Blvd.

 Photo 2 – Clara Hahn – photo was large oak tree at Precisio0n Tune at corner of Venning Rd and Hwy 17N

 Photo 4 – Ute Appleby – photo was The Old East Cooper Hospital sign

Photo 5 -- Angus MacBride -- photo was of the swimming pool at The Hertiage Village off of Mathis Ferry Road

This is the way the contest works.

I will post a photo that is taken somewhere in Mt Pleasant SC. You will guess where it was taken. You will post a comment here on my MamaLiz.com website. The f...

Where in Mt Pleasant Contest

 

I have started a series of blog posts about “Where in Mt Pleasant”.

Previous winners are:

Photo 1 – Billie Jo VanDusen – photo was view of fountain by Chick Fil A on Johnnie Dodds Blvd.

Photo 2 – Clara Hahn – photo was large oak tree at Precisio0n Tune at corner of Venning Rd and Hwy 17N

Photo 4 – Ute Appleby – photo was The Old East Cooper Hospital sign

This is the way the contest works.

I will post a photo that is taken somewhere in Mt Pleasant SC. You will guess where it was taken. You will post a comment here on my MamaLiz.com website. The first comment that is correct will win a prize.

Prize:  A $5  bill

This contes...

 I have started a series of blog posts about "Where in Mt Pleasant?" contest.

Previous winners are:

Photo 1 -- Billie Jo VanDusen -- photo was view of fountain by Chick Fil A on Johnnie Dodds

Photo 2 -- Clara Hahn -- photo was Large oak tree at Precision Tune at corner of Venning & Hwy 17N

This is the way the contest works.

I will post a photo that is taken somewhere in Mt Pleasant SC. You will guess where it was taken. You will post a comment here on my MamaLiz.com website. The first comment that is correct will win a prize. As of this writing, the prize is a set of SC commemorative quarters.

 

 

 

 

 

 

 

 

 

 

 

This contest is just as simple ...

About a year ago, I started a series of blog posts about "Where in Mt Pleasant?" contest.

This is the way the contest works.

I will post a photo that is taken somewhere in Mt Pleasant SC. You will guess where it was taken. You will post a comment here on my MamaLiz.com website. The first comment that is correct will win a prize. As of this writing, the prize is a set of SC commemorative quarters.

 

 

 

 

 

 

 

 

 

 

This contest is just as simple as that.

 

Remember that your guess must be posted as a comment on this post.

OK, so our 2nd photo is below:

 

 

 

 

 

 

 

 

 

 

...

Mama Liz's introduction to Owners Title Insurance

 

This is a true story -- will make you think twice about turning down Owners Title Insurance. This situation took place in 2010.

 

There was a FSBO (for sale by Owner) sign on an ocean front lot on the Isle of Palms.  Potential purchasers (we will call them, the Browns) called on the lot and discovered that they were only asking $500,000 when all other ocean front lots were going for pretty close to $1,000,000. The Browns got really excited- asked the "sellers" why it was being sold so low and the Browns were told that they had financial difficulty, so needed to dump the lot.  The Browns wrote a cash offer to close quickly --- they ...

About a year ago, I started a series of blog posts about "Where in Mt Pleasant?" contest.

This is the way the contest works.

I will post a photo that is taken somewhere in Mt Pleasant SC. You will guess where it was taken. You will post a comment here on my MamaLiz.com website. The first comment that is correct will win a prize. As of this writing, the prize is a set of SC commemorative quarters.

 

 

 

 

 

 

 

 

 

 

This contest is just as simple as that.

 

Remember that your guess must be posted as a comment on this post.

OK, so our first photo is below:

 

 

 

 

Have you ever heard of Absorption Rate in a neighborhood or town?  Sounds a little strange, uh?

Well, real estate agents use this absorption rate sometimes to tell approx how long it will take a house to sell.

What? Of course, there is no way to guarantee how long it will take a particular home to sell, but the absorption rate gives you an idea of how long to sell the total number of homes in that particular area.

For example:  

Let's say that we have neighborhood "XYZ' which has 35 homes for sale currently and  26 homes have sold in the last 6 months. Then what the absorption rate for this neighborhood tells us is that it will take 8 months to sell all of the current inventory.

Simp...

Just have to update everyone on the rebate checks that people are getting back from their insurance companies.

If you don't know what I'm talking about, take a look at these posts:

Homeowner's Insurance Discounts up to 25%

SC Safe Homes -- A secret

SC Safe Homes -- Do You Know About This

SC Safe Home Discounts Are For Real

Our customers/clients/friends just keep getting those rebate checks--take a look at what they are getting:

Liza & Art Valero  -- $5,419

Ralph & Teri Wetherell  --  $2800

Boyd Loadholt  -- $715 for a commercial building

Claude Loadholt  --  $796.00

Pamela Witt Smith  --  $1510

Stacy Songer  -- $1187

Ed Ball -- $3420

Lauren & Chris Magaldi -- $1800

 

Don't...

Several posts have already been written on the SC Safe Home program:

SC Safe Homes -- Do You Know About This

SC Safe Homes -- A secret

Homeowner's Insurance Discounts up to 25%

 

Now, we are seeing quite a few of our customers/clients/friends get their rebate checks from their insurance company.

This is so exciting:

Liza & Art Valero received a rebate check for $5,419

Ralph & Teri Wetherell received a rebate check for $1350

Boyd Loadholt has received a rebate check for $715 for a commercial building

Claude Loadholt has received a rebate check for $796.00

Pamela Witt Smith has received a rebate check for $1510

We are so please to see all these discount rebate checks coming back...

Happy Birthday to me -- I am having the most wonderful, wonderful day.

My day thus far:

 

got the best present from Boyd -- new golf cart seats and a golf cart detailing -- was so thrilled ate buttered toast for breakfast (haven't had this in 6 mos -- due to WW) ate 2 of Linda's homemade cookies for a snack (haven't had any of these for 6 mos either) took my mugshot, of course for lunch, ate my most favorite salad in the whole world (apple pecan salad at Wendys) am getting ready to get myself an ice cream cone (haven't had that in 6 mos either) for dinner, I am having Pizza with my wonderful, wonderful family --(yep, haven't had that in 6 mos either, Pizza, that is) played w...

In an effort to help the community, AgentOwned Realty held a giant yard sale for the cause and raised over $5,000 to benefit the Marshall Hoge family and East Cooper Community Outreach.

Thanks to all of the AgentOwned Realty volunteers, it was a huge success.

 

 

 

 

 

 

Why do I take mugshots almost daily? This is a very interesting question -- at least, it is one that I have asked myself many times.

A good social friend Jeremy Blanton of 210 Consulting has suggested that I stop and spend that time on some other type of social media.

Well, I thought that for awhile and did stop for a short time.  Then, the next thing I know, I'm at it again.  I rationalize that it really does not take much time at all -- it is quick and painless.

 

 

When did I start this foolishness? Well, in looking back, my very first mugshot was 7-15-2009 -- almost 2 years ago to the  day -- 

 

 

 

 

 

Then July 2010.

 

 

 

Obviously, I am not taking these dail...