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how many times have you gotten a call for buyers agent who says look i got an offer
but it's kinda low ball and i was not sure if i should bother to put it
together and then get it signed and send it over and i thought i should call you first
and we could discuss it and you have to say
no no no absolutely send that offer over to me you have a fiduciary
responsibility to your seller to do that
but apart from that
you know you get three offers like that maybe it's time for price reduction
and then you have the ammunition to fight that battle with your seller so remember
all offers must be presented... for the same reasons section eight voucher programs
generally have pre-determined amounts of rent
for certain size apartments and so on
and this often prices those in possession of vouchers out a certain areas and steers
them
towards certain neighborhoods and communities so if you work in the nice
neighborhood you don't get much call for this type of work with these types of
clients and landlords where I operate will often see
somebody
and sometimes not so subtly tell you what kind of tenants they want
and what kind of they don't want
this is illegal discriminatory behavior in some cases
so I want to spend some time talking about this and make sure that you get it
person's receiving assistance housing assistance or rental assistance are
among the most egregiously discriminated against people
out there and the laws around section eight and government-subsidized
housing are among
the least understood
i've actually heard agent saying out loud in a real estate office while
talking to someone on the phone "we don't do section eight"
and i've also had a prospective tenant on the other end of the phone ask me
do you take section eight so clearly people don't
totally understand what the law is, how it works there's a lot of misinformation
about section eight vouchers
remember the magic number on the front and ratio
is twenty eight percent
lenders do not want
their borrowers spending in other words more than twenty eight percent
of their income on their housing costs
and cooperative ownership enables them to be very discriminating but without
violating any fair housing laws
and the vetting of people trying to move into co-ops can be fierce
In fact, there is a Seinfeld episode where George is trying to move in to a co-op
and he spends the entire episode trying to game the process, sucking up to the
members of the co-op board and then there's ultimately this big showdown
with the co-op board and they ultimately
rule against leading into the building because he insults the guy who's on the
co-op board who was Andrea Doria survivor.