Without reasonable question, banks are in charge of the current Real Estate market here in Scottsdale and the greater Phoenix area. Patently absurd low pricing of an overwhelming abundance of foreclosure and short sale listings dictates that financial institutions remain the bully of our local pulpit. While we may lament this eventuality, we certainly cannot deny it without yielding hard-earned credibility. Dominance in the marketplace, however, should not be mistaken for carte blanche to operate in a manner independent of obligation.
Consumers, and by the transitive property their chosen agents, put up with a great deal when pursuing a distressed (be it physical or financial) property. Selling institutions call the shots on the choice of title company, manufacture from afar their own addenda that often flies in the face of local custom or … gulp … law. All too aware that these catacombs house the buried Real Estate treasure they seek, buyers eagerly agree to any and all provisions the banks and their lawyers concoct. For the most part, after scrutinizing the often arcane verbiage of said addenda and verifying that an actual, legitimate escrow company has been selected to perform the title work (as opposed to some flunky sister company on the other side of the country in which the seller has a financial stake), we swallow hard on the arrogance and proceed under the bank’s terms. The values on their properties are just too good to be dissuaded by negotiable minutia.
But that’s where it ends.
Perhaps a happenstance created by a bank that has become accustomed to proffering any mandate it wishes upon a transaction, many asset managers at said institutions and the lackeys charged with listing and selling their portfolios seem to have gained the mistaken notion that they can dictate deviations from the written purchase agreement based on the whims of internal policy. Case in point, I am currently embroiled in a transaction that is going along swimmingly aside from the seller’s constant refusal to execute documents that were agreed to and made part of the original purchase contract. I have heard numerous explanations for the contractual breaches, and some of them even make sense. None of them, though, absolve the seller of their contractual obligations.
The learned attorneys who advise their clients (banks) not to sign certain documents would do well to advise their clients to address such matters at the time, if not before, the contract is negotiated. I am not an attorney, but surely they understand that unilateral, after-the-fact contract revision and/or breach is far more likely to result in litigation for their clients than the terms of the documents found to be objectionable for one reason or another.
Then again, perhaps deterrence from future litigation is not in the best financial interest of that crack legal staff.
I call on buyers and their representative agents to stand up for the rights and protections you are afforded by the purchase contracts you execute. Fear of losing the bargain of a lifetime has led too many to cow-tow to the internal policies of the banks on the other side of the country table. Yes, there are certain stipulations you must live with if you wish to purchase a bank controlled property, but at the end of the day, they are just sellers who must abide by the same rules and regulations as everyone else. Assuming you didn't forget to pack heat on your way to a bank-owned gunfight, stick to your guns and do not suffer any shirking of the selling party’s obligations or infringement upon your contractual rights lightly. And make sure you grab the glock, not the air rifle. The pea shooter of polite request will just get your hair touseled and cheeks pinched.
It's big boy time when dealing with a corporate monolith.
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This latest intelligence sent me on a "search and compare" mission canvassing my neighborhood. What was really going on in everyone else's home? Sadly, no one else was fooled. Every time it rained, the snails would sail out onto the sidewalks. Inevitably, the phone would ring. The neighborhood boys would call and say - "Tell your mother - dinner's on the sidewalk!" For some reason this never bothered me, I thought it rather clever. But I never dared tell my mother this timely news for fear of her going out in the rain and catching them. At this point, I felt she would eat anything that moved.
My home, from the outside looked normal. Once you entered, well, that was a different story. We had modern yet slightly rustic Italian furniture, some of it was sculptural looking made with straight almost Giacometti looking hand wrought iron supports that reminded me of bird legs, cork floors, not as nice as the cork now, and paintings that I didn't really understand. There was brick and wood and white walls everywhere. Just red, black and white it seemed. My mother loved it. The rest of us just endured it. Actually, I hated it. I used to color with crayons, as that was the only medium that stuck, alternating bands of expressive colors in the rusticated grout lines of the brick that surrounded the fireplace as well as an entire wall whenever I could. My ongoing, yet constantly interrupted goal was to finish the entire wall before I was caught. Then my color rationed family could see how truly lovely it would be. I thought it looked beautiful, similar to a Mondrian. Believe me I always paid the price, but I yearned for some extra color and that was all there was in my arsenal. My patient father cleaned it repeatedly and always winked at me afterward. He was a painter, he knew. Even though he was one of them...







pressed for time to actually read books, not enough time with our families, our non-virtual friends. Yet most everyone wants to be able to glean something fresh and juicy from a blog. Or write one in order to turn on the lights and open the drapes. I remember such warnings when I first lived on my own, to certainly not to do that in the evenings; as the fascination to further investigate was too hard to resist for most humans. I didn't think it to be all together true, but alas, it has been proven a million times over and is what I have learned on the social networks. And for my businesses' sake I am willing to be interchangeably voyeuristic and exhibitionist.
Here are a few links that offer a range of options and opinions on social networking as a business tool. An article depicting 25 social Media Tips from executives and others at Dell, General Mills, Home Depot, etc offers interesting insight into social networking for big business. 


