REO Questions? *Click HERE*
MOST FREQUENTLY ASKED QUESTIONS
I am calling for status on a home?
Answer:
Go to MLSListings to check the status of the home then check the OFFER STATUS TAB here on this site. If the home is NOT listed there it means there are no offers (as of the time the site has been updated) or it is sold.
Example: If the homes shows active on MLS and is NOT on my Offer Status Page then it is available with no offers.
Most of your questions can be answered by doing these two things.
What is the cut off time for offers?
Answer:
We will keep accepting and presenting offers until the seller accepts an offer BUT please keep checking the offer status tab on this website to keep updated on the most current status for the home.
I want to write an offer what should I do?
Answer:
FAX..FAX..FAX your offer ONLY to 408.904.7408. Include a cover page with your NAME, CELL NUMBER AND EMAIL. This is VERY important. Please also try and use WINFORMS and TYPE your offer to ensure clarity of terms and names.
Why do I have to FAX my offer in this day and age of technology instead of emailing?
Answer:
I ask this because some attachments come over so large (I get some at 18MB) that it can not be sent to the Seller this large. I have an efax so it WILL get to me in a PDF format. It is the same result as emailing it to me but MUCH smaller in size and something we can work with.
When are offers being presented?
Answer:
Offers are presented as they come in unless the Seller instructs me differently. If there is a wait time then it will be noted on MLS.
If I am told the property has sold why is it still showing active on MLS?
Answer:
When the Seller accepts an offer a Counter Offer or Addendum(s) are sent to the Buyer's Agent and until those come back signed by the Buyer the MLS will not be changed as so many Buyers are backing out after the documents are sent for signature so we do not want to keep switching the status on MLS. The OFFER STATUS TAB on this site will indicate "Seller Accepted Offer - Waiting for Paper Work". Once we receive the documents signed by the Buyer the property will be removed from the OFFER STATUS and become PENDING on MLS.
When do I get the signed contract back after I have faxed it signed by my Buyer?
Answer:
This varies with each bank but it will be sent as soon as I receive it. It will be sent with Title/Escrow information. PLEASE be patient.
When does my time frame start for inspections?
Answer:
This typically starts the day the contract is signed. My escrow coordinator will send a time line with the executed contract.
What is commission calculated on?
Answer:
Commissions are sometimes based on NET (sales price less any concessions) so please be aware of this.
Should I call 10 seconds after I faxed my offer to make sure Nancy got it?
Answer:
No. We will send out an email letting you know we received your offer. Please give us time to do this. If you do not get an email by the end of the day THEN feel free to call or email. If you send your offer after 6 PM please wait until noon of the next BUSINESS day to get the receipt email on your offer.
What does the house look like?
Answer:
Please preview homes for your clients as I can not make a determination on what your client would like or not like.
Why doesn't Nancy tell agents what the purchase price is of other offers?
Answer:
I want this to be fair to all parties so I ask that you send in your Highest & Best offer to begin with. Some Sellers may just take the best offer in a multiple offer situation so it is best to be prepared in this case.
If I get Nancy's assistants why can't I talk to Nancy instead?
Answer:
I am either not in the office or already on the phone with another agent or Seller but I sit 10 feet from my assistants and most likely can respond right then and there through them. My assistants are VERY knowledgeable and can answer your questions most of the time.
Why was my offer not accepted?
Answer:
There are many factors that go into what offer is accepted but please know that the offer that IS accepted is the BEST offer for the Seller.
And the winner of the MOST asked question.....Is this an REO?
Answer:
This information can be found on the AGENT FULL TEXT printout on MLS under Financial and Supporting Information
