Friday, February 23, 2024

Lake Norman | Charlotte Sell Your Home and Save on Fees

Carolina Living Real Estate Sells Your Home

 Courteous, patient and knowledgeable, Roby is here to help!  Serving the Charlote and Lake Norman Areas.

Winston Salem Real Estate

Many years' experience assisting clients at all price points.   I always put my client's needs before my own!

Monday, January 29, 2024

Huntersville | Lake Norman - Duty of Good Faith and Disclosure of Material Facts

 



Know Your Rights

QUESTION: Closing is two weeks away, and my buyer needs to sell their existing home in order to obtain a loan and close. Today we received notice that the buyer of my client’s home is terminating. My client is freaking out and demanding that I do not tell the seller about the termination. My buyer is also debating whether to inform the seller next week that if my client does not receive a refund of their Due Diligence Fee, they will delay terminating the current transaction all the way through the grace period in the contract. What do I do?

ANSWER: You need to immediately disclose to the seller or listing agent that your client may not be able to close. You also need to inform your client to seek legal counsel regarding the potential negotiation of the Due Diligence Fee.

The North Carolina Real Estate Commission has long instructed that a principal’s ability to complete a transaction is a material fact. This category of material fact “includes any fact that might adversely affect the ability of a principal (seller or buyer) to consummate the transaction such as: [1] a buyer’s inability to qualify for a loan, [2] a buyer’s inability to close on a home without selling a currently owned home, or [3] a seller’s inability to convey clear title due to the commencement of a foreclosure sale or judgment lien on the property.” 2022-2023 General Update Course, Section 1, Material Facts: Speak Up! Failure to disclose a material fact is the number one reason why agents are disciplined by the Commission. Here, your client’s likely inability to close is clearly a material fact that must be disclosed to the listing agent regardless of your client’s direction to the contrary.

As for the strategy to obtain a refund of the Due Diligence Fee, your client needs to be informed by legal counsel that every contract has an implied duty of good faith and fair dealing. North Carolina Courts have “consistently held that [i]t is a basic principle of contract law that a party who enters into an enforceable contract is required to act in good faith and to make reasonable efforts to perform his obligations under the agreement.” Blondell v. Ahmed (NC Court of Appeals 2016). Here, it sounds like your client may attempt to violate that duty in an attempt to obtain a refund of the Due Diligence Fee. Assisting your client in this endeavor may expose you to liability and violate both the License Law and the Code of Ethics. As such, it would be best to strongly advise them to use legal counsel in order to negotiate a termination of the transaction.

© Copyright 2023. North Carolina Association of REALTORS®, Inc.

This article is intended solely for the benefit of NC REALTORS® members, who may reproduce and distribute it to other NC REALTORS® members and their clients, provided it is reproduced in its entirety without any change to its format or content, including disclaimer and copyright notice, and provided that any such reproduction is not intended for monetary gain. Any unauthorized reproduction, use or distribution is prohibited.

Monday, September 4, 2023

A Realtor's Tribute To Jimmy Buffett

 I have been saddened recently by the death of Jimmy Buffett.    I grew up with him, well kind of.  Some might argue, I have some growing still to do!    However, as we get older and lose those that inspired us or entertained us, it brings mortality into focus. 


An acquaintance of mine wrote these words from his interview with him:

JB: You know, I didn’t try and create all of this. It just happened while I was having a good time. I wanted to have a good time, so I wrote about what I know. Life is hard, and I wanted to create a place where it wasn’t.


From Dave Matthews.  

Whether planned or coincidence, every time I ran into Jimmy it was like seeing an old friend. He was brilliant and a genuinely good and generous man.


If you read all the tributes to Jimmy Buffett, you have a roadmap for a life well lived.   I realize he had wealth beyond what most have.   However, he had these qualities before he ‘made it’.  He just lived a life of giving and fun.  


I try to live my life with a smile on my face.   Whether I am helping my real estate customers, playing golf with friends or just spending time with family, I try to make others smile and not stress about whatever we are involved in.    


Jimmy’s passing has been a reminder that I sometimes have to work harder at ever present smiles. However, I will continue to work at being generous, smiling a lot and just treating others like Jimmy Buffet!   #RIP JB


Thursday, July 27, 2023

Want To Buy a Home Now? Consider These Strategies

 I received this information from a Lender my clients have used.   She is with Prosperity Mortgage.  Give her a call.   


Tammy Rivard


Relocation Sales Manager
NMLS # 561867
Office: 952-967-2599


Tammy.Rivard@PHMLoans.com


Whether you're a first-time or move-up home buyer, you may be considering postponing a purchase if your area's affected by climbing home prices. Or you may be balking at today's mortgage interest rates.  More on that in the next post!


However, no matter where prices and rates may be, you have some different strategies to consider.

Buy now, refinance later. While it's impossible to predict when interest rates will change, almost all lenders expect rates to eventually go down. If you're buying in an area where home prices are still rising, this approach could be worth considering, especially if you're renting and not building equity.

Make a larger down payment. If you have the funds to do this, it could help you in several ways. In addition to a possibly lower interest rate on a mortgage, it will provide lower monthly payments. Also, you may be able to forgo mortgage insurance or cancel it sooner than later.

Consider a shorter loan term. While this translates into higher monthly payments, it also earns you a lower rate. For example, while the current average rate for 30-year loans was 6.71% earlier this week (according to Freddie Mac), 15-year loans came in at an average rate of 6.06%. You'll also save quite a bit in long-term interest.1


Monday, June 19, 2023

I don't really need an experienced Realtor. I can just hire a friend?


 

I don't really need an experienced Realtor. I can just hire a friend?

Would you hire a law student to represent you in monetary litigation or hire an experienced lawyer that is an expert in the field?

I have a client that told me they had a friend that just got their license and they wanted to give them a chance to sell their home.   Have you heard this before?   

In this case, things fell apart when the inexperienced agent was verbally negotiating on his behalf.  Both parties seemingly had a deal worked out and the buyers went out of town for a long weekend. No due diligence was collected because a promise was made by the buyer's agent.  In the seller's mind his home was sold and he was moving forward with his plans.   His agent was telling people it was sold and interested buyers moved on.   Low and behold, buyers came back and changed their minds.   Numerous opportunities were lost as well as valuable time.   

An inexperienced agent keeps the facts below in mind at all times and is diligent throughout the transaction.   

Negotiations leading to a contract can be fast-paced, to the extent that brokers find themselves communicating offers and counter-offers, as well as acceptances, orally. An example of such a situation occurs when an oral counter-offer is communicated to the buyers, who orally agree to the new terms. The acceptance is orally relayed to the sellers, who now mistakenly think they have a valid contract.

The Statute of Frauds requires that all contracts for the sale of land or for lease agreements exceeding three years be in writing and signed by the parties to be enforceable. In order for a valid contract to exist, all negotiated terms must be in writing and signed by the parties. Any changes must also be in writing and initialed by the parties.


A broker can best keep his or her clients informed of all communications material to negotiations between the parties by ensuring that offers, counter-offers, and acceptances are in writing and contain all necessary signatures. Oral agreements for the sale of real property are not binding.

Thinking of selling and want a FREE Home evaluation?    Visit: Free Property Valuation (robyrobertson.com)

Monday, May 29, 2023

Huntersville | Charlotte | Lake Norman - Do I Sell Your Home In The Current Market?

 Do You Find Yourself Asking This Question?


It can be very confusing when you look at the news, Zillow Zestimate ( egads!) or listen to friends.  I understand.

Hey, it’s Roby  Robertson! 

If you’re looking to sell your home and move to a new place in the coming months, I’ve just opened up slots in my calendar for free consultations so I can help you prepare for what’s to come. 

Some things I will discuss with you at no obligation:

1.  What is the price range your home would sell for?
2.  What are the real numbers with homes that have sold in this range.   We can determine if buyers are really out there.
3. Are there lender incentives that can assist buyers with purchasing a home with interest rates where they are.  
4. What does your home need to be ready for market?

Click - Property valuation: to set up your time to speak with me. 

If someone here in Winston Salem wanted to buy your home, would you consider selling it? 

The benefits: 

1. Get a free home value estimate 
2. Get clarity on your financial situation in this new economy 
3. See what's possible for you and your family if you decide to sell your home.

Tuesday, May 9, 2023

Roby Robertson | Your Realtor and Friend

 I have been a Realtor and Property Manager for 20 plus years now and I feel I have been pretty successful.   Heck, making it that long in this business has been interesting and a challenge.


I  like what I do and have the intention of retiring because of that enjoyment.     However, even at my age and years in the business, I struggle with marketing decision making and growth. 

A lot of real estate is about marketing and it is so easy to throw good advertising money at bad advertising.   I have always thought about my chick flick favorite movie ‘The Notebook’ when Ryan Gosling says to Allie in a forceful way ‘WHAT DO YOU WANT’  and how I can use that in marketing.

When someone becomes a customer, I feel I can always give them what they want and do a great job for them.   With all the competition, I struggle to get that message across without sounding salesy like everyone else.   I also often wonder if it is a beauty contest since we all put our pictures on everything.   I sincerely hope not because I feel like I lose every time  up against the glamor shots and the young guns.

I will just say this.   I work hard for my clients and look out for them.   Don’t know how else to put it. 



Lake Norman | Charlotte Sell Your Home and Save on Fees

Carolina Living Real Estate Sells Your Home  Courteous, patient and knowledgeable, Roby is here to help!  Serving the Charlote and Lak...