Real estate runs on paperwork, and if you've bought or sold any recently, you may have been struck by just how much there is. Well, the Prescott real estate association (PAAR), keepers of the local MLS, have just come down with new rules that could lead to fines if some of that paperwork isn't completed quickly enough. Find out about these latest gotchas and what we think about them in this episode.Video Transcript
hello top of the morning to you good morning folks this is diana randall bro here prescott lady and sidekick respectively that’s right we are your husband and wife duo here in prescott arizona happy to bring you here show you around hopefully you’ll stay we’ve made so many great friends from clients it’s just been um that’s part of the happy part of our time it’s a great time guys yeah and there’s a reason why people come here it’s a great time so today we wanted to talk about some new things that are coming up in real estate yeah lots of rule changes lots of little changes yeah this is actually this is something that should have been done a while ago so i was glad to see this come down uh so the new rule from the local association is that you cannot go live so you’re selling a home your home cannot go live on mls until you have uh if you need disclosures for an hoa or lead-based pain so lead-based pain is anything before 1978. that’s right home was built before 1978 you’re going to need a lead-based pain disclosure so you’ll know that right away uh if you’re in an hoa you will need an hoa disclosure this is paperwork uh in particular the hoa it could be a pain yeah someone more complicated yes some can be complicated uh it has to be done and posted as part of the mls record before your home goes live in mls let me tell you why that makes sense from a buyer perspective so we have buyers that that come in they like a home we know there’s an hoa and we want to make an offer part of that offer is who pays the hoa the transfer fees basically um if we don’t have a disclosure then we can’t really make the offer yeah yeah so what that does is yeah so essentially that’s the listing agent making the buyer agent call the hoa to find out what’s going on and that’s not the buyer agent’s job that’s the listing agent’s job yeah so uh buyer agents have gotten smart and what they do is they send an offer that anything that’s undisclosed you have to pay and sellers didn’t like that sellers aren’t happy with that they’re like wait a minute i so we’ve been why am i paying that things have been getting sort of better we’ve been seeing more compliance there well now if you go live and you do not have an hoa disclosure or a lead based disclosure if you need that uh the listing agent will be fined like just straight up so uh that’s good because listing it that’s part of the listing agent’s job it’s a little bit of homework it’s a little bit of homework part of the negotiation uh in particular in hoa areas where those fees can be substantial um so it’s something that needs to be done and now now you have to do it yeah it’s fair and you should not expect a buyer or the buyer’s agent to have to figure that out and sometimes the seller you know maybe they’ve lived there 20 years like jeez i don’t even remember do i have to pay a transfer fee yeah i think there is a transfer fee like if you live in prescott lakes there is a transfer stream um all sellers have to pay a disclosure fee regardless period end of sentence yeah we all know that but there’s some transfer fees if you’re in an hoa some don’t have it some do and you should also disclose what your ho your quarterly hoa is is it monthly is it annual is it quarterly and there’s always something to know that yeah that’s an important part of their yeah decision they’re like you know i have so much of a budget for my house note how much is my uh hoa going to be because if it’s too much i might have to reconsider and go to a different area all important stuff if you were out there and you’re the buyer and so anyway we’re kind of excited that our local listing service is putting that into effect yes um because sometimes my buyers are here for a short time they want to write that offer up and the hoa is not open until monday yeah if they’re here in a weekend so we can’t give them the answer yes some of the the transfer fees involved are negotiated how are you going to negotiate if you don’t know what they are exactly so uh it this is the was the right thing to do we supported 100 yes and we’re excited yeah we’re excited in our listings we’ve always done this because it’s the it’s the way to do it right if you’re working with buyers you know that uh and and we work with both so uh we’ve kind of always done that we’re glad to see it one thing i will point out if you are a seller this is yet one more thing that has to be done before your home can go live uh generally it’s it from the time you sell a listing agreement until your home is hitting on all cylinders it’s on mls and agents out there are seeing it one or two weeks uh you know the more that the listing agent has to do the longer that takes yep so uh that’s true understand now that uh this is yet one more thing that has to happen and it’s important so we wanted to explain why it’s important and and why uh the rule makes sense so uh yeah good job we’ll be a little more a little more patient as a seller because there are a bunch of things that have to happen absolutely so that is our little tidbit of the day we hope that this helps explain some of the process yeah right absolutely right thank you for listening and give us a call at 713-302-1964 if you need any kind of help or have questions we’re happy to try to answer and help you out we also have uh information site you can find that at pickle411.com whether you are a buyer seller somewhere in between lots of information about prescott the prescott real estate market local restaurants things to do uh things to do with your dog i mean [Music] we just have a lot of fun sharing our wealth of information every time we come across a nugget we put it on that’s right we actually make a list people let’s lose and uh over a month we might have eight topics and we will sit down and film all eight topics one nugget at a time yeah pop in our little brains like that’s something to talk about let’s do it our website is where you need to pan for gold it’s where all the nuggets are all those maybe most of them are gold maybe you might find some other nuggets there that’s right
You may have heard that weirdness prevails in the real estate market these days, and nowhere is that more true than with lenders. In short, lenders are struggling right now... big time. In this episode, we discuss some of the major lender fumbles we've seen recently and how you can avoid the nightmare scenarios that have become all too commonplace in real estate transactions because of them.Video Transcript
hello friends this is diana randall bro your local friendly husband and wife realtor team located in prescott arizona she’s depressed pickle lady that’s right i am her sidekick in arms that’s right sidekick have arms i’m not sure i’ll get some water i’ll get some more or at least some tools sidekick but yeah you probably do but tough topic too yeah a tough topic it’s something that um i try and try again some people listen and some people how shall i say i think they know better than mama and that is using an out of state lender so we’ve been having a lot of trouble with lenders um and that’s just i mean the lending process the lending process you know we’re going the whole covet thing and logistic problems and i i don’t know what but we’re finding it very hard to match our buyers with lenders who can close in a timely manner well yeah and this is my biggest pet peeve lately particularly if you use an out of state london oh i have a relationship with them i’ve been with wells fargo for 25 years it doesn’t mean a thing okay you are assuming that when you hand off this loan to somebody to start processing it that you’re going to have your particular banker every step of the way sadly my first month that’s not what happens they’ll have a separate team for that they have a separate team for that so the first person who sells you that loan they’re out of the picture they get their commission and they go off and go sell another loan yeah and then your loan is sold you know it’s passed on to another team and it goes into underwriting well every underwriter they pass on to another person to another person so when you run into a glitch and you call your original person they’re like oh that’s not me anymore now it’s joe and kathy and susie so then you may be hunting down these people who they’ve passed it on to somebody else you never get the same person so consequently um when we have a closing date which by the way is a contractual obligation you’re obligated to close on that date and lenders don’t seem to understand that it’s a contractual obligation and so this is what i tell some of these lenders hello it wasn’t a suggested closing date it’s like underground it’s like under contract this is a legal thing yeah if we’re supposed to close march first you’re supposed to have it all done march first so we’ll get a call from the we’ll get a call from the lender oh good news we got the appraisal scheduled for the fifth like okay we gotta close on the first we’re closing on the first that doesn’t help me yeah so a lot of times you know that’s very frustrating so from the get-go i call these out of state lenders and i say order your appraisal today don’t order it two weeks from now because we’re never going to close on time because a lot this is another thing you should you should know out-of-state lenders have to contact an appraisal uh company of their own in-house and then they that in-house appraisal company says let me get you an appraiser i don’t know who i don’t know anybody in that area but i’ll get one from phoenix what a nightmare because the phoenix appraiser comes up here he looks at it he doesn’t know the press get back i don’t know the market they don’t understand i understand the market to do a decent appraisal that’s correct and i’m sure the same is true you can’t get prescott appraisers and go down right really i mean you gotta know you need to have somebody familiar with it yeah you need to have somebody local who really understands the market understands that that side street is really not a major highway which we’ve gotten that’s not a major highway um so you don’t have to you know detract you know at deduct a hundred thousand dollars that’s not a major yeah we’ve had one it was uh oh well the the comp was uh it’s a good comp but the comp has a view of the golf course and the subject property doesn’t okay the subject property overlooks granite mountain it’s a much better view so you know we try to advise of course we can’t tell you i mean that’s absolutely one hundred percent yeah he should pick the land and you’re right that’s your right to do that but when we gently try to guide you try to find a local lender there’s a reason for that we want you to close on time we don’t want you to arrive in prescott and your house has enclosed and your stuff is in transit in a truck and you have no place to move in yeah and it has happened it has it has happened and then suddenly you’re in a hotel for two weeks while you’re waiting for it to get out of underwriting because they didn’t go into underwriting until five days before your closing date yeah nobody’s going to get you out of underwriting in five days and get the appraisal done in five days it’s just not happening you’ve got sellers that are selling in the seller’s market that may or may not be that’s right uh they may not appreciate your situation yeah they want to close because they’re moving on to their next chapter so when we gently suggest please try a local lender preferably a mortgage banker not a bank like wells fargo or you know one of those uh yeah don’t go with a mortgage broker go with a mortgage lender a mortgage banker they will hold your hand all the way to the end because they don’t get their commission until you close so they are invested they are committed because they would like to get their commission and so keep that in mind it’s not to mind your business or tell you what to do and you know i appreciate you know every person i know who thought they had a great relationship finds out maybe not so much yeah and just to be clear most of the clients that we deal with um they are of retirement age yes and uh they’ve region reached a certain level of success most of them do have personal bankers yes so we’re not oh you know i have a personal banker your other clients probably didn’t know they all have a personal thing and it’s not the personal banker’s fault yeah they’re it’s just their process when you’re with the national bank they set you up they do the initial paperwork and then their process is to pass it on to the other parties and it’s not that they’re bad people yeah or you know well they’re dealing with their process it’s a very it’s a very tough situation at this at this particular moment uh some areas like the california banks are really struggling the northeast banks are really struggling uh we had a we had a broker in the midwest so we figured oh that’s okay she sourced it to a bank in california that was a disaster it’s it’s uh it’s a bad situation right now we try to ride shotgun with the lenders for our transactions for our buyers we don’t know all the ins and outs we’re not lenders we’re not right now we don’t do that for a living i mean we try uh the local people we use here they know how to run rough shot they know how to do it they know how to get it done and it’s best to absolutely let them do that you know your bank may or may not respond to a stupid realtor from prescott arizona yeah i can call my local lender and say hey we gotta is there hold up can you tell me what’s going on what can we help to facilitate so we can close on time and i can get that person right away we can communicate clearly effectively and get the job done whereas if it’s an out of state lender they don’t know me from a hole in the ground and they’re like oh i don’t do that anymore it’s passed on to this person and they can’t really we don’t have that kind of relationship so keep that in mind it’s not to mind your business it’s not to tell you what to do it’s just if you have a particular date in mind that you want to close you want to close and uh local lenders are the way to do it they really try hard and they try to make it happen they know the right and they know the ropes and they also know local appraisers that they can get in and get it done so i’d all share this recently we just had one and we were supposed to close on a friday and they called the day before and said can’t close on friday because that is actually lincoln’s birthday not president’s day the 21st lincoln’s real birthday was february 18th so in california we celebrate uh lincoln’s birthday so we can’t send out any wires yes evidently they only figured this out the the day before the day before on the 17th uh i don’t know if that was really the story or not that declared the holidays so it’s weird things like that weird things out of state lenders will have weird rules i don’t know california’s rule about lincoln’s birthday but apparently on february 18th they don’t send out wires in the state of california and they’re allowed to do that so yeah every day i learned something new and another good example is uh ordering out the appraisals it is a matter of course that uh lenders will order out the appraisal kind of when it’s clear that the home’s gonna inspect yep you know that it’s gonna get get past the inspection period that’s when they’ll do it too late you can’t do that now you can you got to order it right away and if you if that means the lender is going to have to eat the appraisal fee yeah that’s just the cost of it but here’s the thing they don’t eat the appraisal fee they passed on to you they said oh we can’t get the appraiser out so i hope you don’t mind instead of paying six or seven hundred dollars for your appraisal you now have to pay the expedited fee yeah twelve hundred dollars fifteen [Music] they can get it done overnight yeah but you’re gonna pay extra for that so try to go local we have everything local in-house we can get it done it’s nice and smooth and you know typically we close on time about 98 of the time uh out of state um it’s been i can’t promise you it’s been rough lately it’s been rough that’s all we can do is just tell you our experiences with this in the end the your lender choice that you that’s your choice 100 it’s your choice whoever you choose we will do our best to make sure that you close on time uh but we just wanted to share some of our experiences with you some other considerations you may want to yeah just be aware you may not necessarily close on time if you’re going out of state we can do as much as we can try may not happen for you we sure will try i love to nag it’s my favorite thing to do i call every day hey it’s the pickle lady again heard anything yeah heard anything heard anything remember the closing date is not a suggested date yeah we want to close on this day we’ve been struggling with this for the last several months so yeah so we want to share and you should know too because you know we don’t always buy houses every other year sometimes it’s been 20 years and you kind of forget so this is our knowledge we want to share with you absolutely take take away from it whatever you wish but we hope you listen to us [Laughter] more information you can check us out at pickle411.com that is our information site whether you are buy or seller somewhere in between information about lenders and all that kind of stuff about real estate i also got best restaurants to go to and press get things done i’ll love it i’ll live all of it’s there all of it we love to talk about a whole bunch of stuff yeah not all of it’s complaining about linda no that’s right very strong very small just a small percentage all right my friends you guys have a great evening and thanks for listening hope we taught you something new take care bye
If you have never been to Prescott or haven't made up your mind yet where you want to end up, then scheduling a non-buying trip to tour the city and see representative homes in the area is a great idea - and we'd be glad to help you with that. Just make sure we know what kind of trip you're on, because buying and non-buying trips are very different animals - which we discuss in this episode.Video Transcript
i’m going to change this up and say good midday good midday good midday good news good okay [Laughter] it’s crazy i tell you but anyway it’s been a long day sometimes when i film with him um but i am diane bro this is my better half cheese pickle eddie that’s right randall brown sidekick we are a husband and wife team here in the heart of prescott arizona we love to help people come here find their dream home just like we did several years ago we love it here and we embrace all people who come you guys will love it it’s just a really unique tale this is our way of telling you kind of what life is like that’s right you can find here what people do here that’s right all the good stuff so sometimes when people will call and they’re like hey i want to come in and let’s set a date great please first step always call me first or enter your appointment on our calendar um don’t just show up in an hour before say hey we’re here could you meet with us a lot of times i’m booked yeah and so i hate nothing more that i hate than saying i can’t meet with you because i’m booked up for the next couple of days so call me first we’ll put you on the calendar and then i may call you back or email you and ask a number of questions it’s not to be intrusive or nosey or anything else but it really helps me hone down on the home search the most important question is is this a buying or a non-buying trip and some people like well i don’t want that kind of pressure it’s not really meant to pressure you it’s just to help me if it’s a non-buying trip i will maybe just include a few homes a few neighborhoods and maybe try to select those homes that are vacant or you know no one’s there so that you know we don’t interrupt the owner too much yeah it’s also a matter of focus so if you know we understand that this is a pro a process and we have no problem with non-buying trips absolutely we’re just trying to figure out what you’re trying to achieve if you’re trying to buy a house we need to show you specific houses because you’re going to buy one that’s right if you’re not going to buy one you’re kind of thinking prescott might be the place to go but you’re not sure it’s not just about homes it’s about the city and what goes on in the city and the different areas we’re going to focus more on trying to find the areas that make the most sense for you rather than the specific homes that won’t be available when you’re ready to buy exactly i mean so for my non-buying buyers i say hey you know what i want to give you a sampling of all that the city has to offer so if you’re a golfer if you want social amenities let me focus on those neighborhoods and show you a couple of homes in there and then i’d like to give you a i call it a potpourri sampling we’re going to kind of go around and mix it all up and see all areas all different neighborhoods so you can kind of decide you know what i really love i really love stone ridge or i really love prescott lakes or i really love talking rock and that’s fine so the next time when you come back and it is a buying trip that’s all we’re going to focus on yeah if it’s a buying trip and you know hey this is exactly what i want i’ve already been there i want this then guess what i’m going to exclusively concentrate on those areas and try to find the best home that exactly fits your requirements it’s a lot of fun for me i enjoy it especially when i have bigger inventory yeah yeah um but we try super hard to find one that you will connect with yeah yeah we give you a sale if it’s a non-buying trip we’ll get you in a few homes just to kind of give you a sense of what different price points will buy you correct what kind of features are available whether they’re views or not what kind of architecture you know what style of home you know that sort of thing we’ve given you more of a feel rather than trying to fit you into a specific home right and we also tour you as well as we go along so whether it’s in prescott valley or prescott we point out all the major places stores etc so you really get a good education on what prescott has to offer and then when you’re ready and you come in to buy we’re ready to do it let’s let’s let’s hone in on that and let’s find that perfect place and let’s do it yeah so uh uh you know sometimes people are a little taken aback when i ask that question i’m really not here to make you feel pressured i am the worst i am not a hard sell i am the softest cell i think probably on earth um first of all i don’t think i have to do a hard sell i think prescott sells itself it’s a it’s a lovely town it’s gorgeous i think a lot of the homes here sell themselves i don’t have to force you to do anything and i would never do that anyway right that’s not who i am and it you know i just don’t believe in that everybody has to be here 100 and then it works out beautifully so when i ask you is this a non-buying or a buying trip don’t be like i’m feeling pressure it’s truly not meant that i’m trying to serve you better by figuring out exactly that’s exactly it so anyway if you hear from me and start asking you some questions don’t get nervous don’t get don’t get uh wigged out it’s just for me to kind of either make it a an intense day of finding you the perfect home or just a nice tour sampling the areas and so when you do make that final decision you’re ready to to to go in the air you want to go to yep absolutely so that is all so i don’t want you to ever feel pressured i’m not all about that i’m all about the soft sell and um just finding what’s you know touches your heart because that’s what it’s all about for me it’s an emotional decision as well as an investment but the most thing is what attaches what connects to you i should say what connects to you absolutely that’s more important because that’s the only way you know you have to be some place you want to be and then you’re super happy with your decision absolutely okay so if you need to reach us to buy or sell or anything else any other questions believe me i get questions all day long and i’m so happy to answer and help and where’s this and where’s that what about this and what about that give us a call at or you can go to our information site you can start at pickle411.com whether you’re a buyer seller somewhere in between lots of free information about real estate about prescott about prescott valley and yep uh restaurants and things to do and all kinds of stuff all of it all of it yeah very informative there’s a search bar so you can look for whatever that’s right you can just type in where to get your nails done yeah that’s true on and on and on exactly so anyway we hope to hear from you and thank you for listening have a fantastic day bye bye
What's the name of the town that has an ancient sacred gathering place with petroglyphs and precise alignments for the summer and winter solstices? Well, if you said "Prescott, AZ," then go to the head of the class, my friend - because inside the subdivision of Prescott Lakes there is a spot called Solstice Ridge you just have to see.
Our episode on Petroglyphs: Click Here