Author Archive | Duane Gomer

IMPORTANT ANNOUNCEMENT FOR REAL ESTATE LICENCEES RENEWING ON OR AFTER JANUARY 1ST, 2023

Senate Bill 263 passed on September 2021, which states that licensees renewing on or after January 1st, 2023 must complete a new 2-Hour Implicit Bias Course and a Fair Housing Course with a New Interactive Participatory Component to fulfill their renewal requirement for their Salesperson’s or Broker’s license. DRE is currently in the process of […]

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1031 EXCHANGES

There are many rental owners who have extensive equity. Now is a great time for them to consider a Like-for-Like 1031 Exchange. They should consider taking their equity and becoming owners of three rental homes or more. Think about it. You find one prospect and you have generated four transactions and maybe even more sides. […]

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For Sale By Owner

EXPIRED LISTINGS AND FSBOs

Yes, expired listings have a tendency to appear in a Buyer’s Market. You might consider working this field. The internet is alive with recommended scripts. There seems to be four comments from homeowners who have their homes “expired”; #1 – “We are staying with our current agent.” #2 – “We are taking the property off […]

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NMLS Deadline for CE Completion

Yes, you might be too busy to complete your MLO CE now, but if you wait until January 1st and haven’t finished, you will have lots of time because you will not be able to work.  2022 Annual CE Deadlines | Your License is Your Business SMART Renewal Deadline: CE course reported to NMLS by […]

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contract agreement

LEASE WITH OPTION TO BUY OR LEASE AND PURCHASE

With the “Option to Buy” term a seller is bound to sell the property under the agreed terms but the buyer can decline at any time. With the “And Purchase” term, both parties are bound to the terms. There is a great discussion of this technique on Rocket Mortgage’s Website at rocketmortgage.com/leasepurchaseagreement.

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HOME SALE CONTINGENCY

In a seller’s market many contingencies are waived. Financing, appraisal, and inspection contingencies were not demanded by buyers in the last couple years so their offers would be more desirable. Now you will learn that there are two Home Sale Contingencies that some buyers might request. One is a Settlement Contingency and the other is […]

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