WEBVTT

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You're listening to the John and Heidi
Show Bonus Hour. If you miss any

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of the program, you can find
a podcast at the bottom of the page

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at Donny radio dot com. Give
yourself credit. It's the most wonderful time

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of the year that it can also
be expensive. Are you still paying for

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last year's Christmas gifts? Maybe you
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a lower rate. Find what you're
looking for at better credit Cards dot com.

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God thanks for listening to The John
n Heidi Show Bonus Hour. We

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have Brent Baker coming up in just
a moment. We're gonna go through a

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little more of the list that we
started last week. A lot of different

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terms that have to do with real
estate and whatnot. We've got several weeks

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of that, I think, because
this is a pretty long list, but

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we're gonna at least go for like
another five minutes or so coming up here

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in a bit. Also, not
to like completely freak you out, but

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we are one week away from Christmas
right now. Christmas Eve is less than

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a week away literally next Monday,
Christmas Day. So I guess the main

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reason I say that is if you
haven't started shopping yet, you might want

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to start thinking about it all right. Hey, you can also maybe find

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some special deals at shoplocalsouefalls dot com. That's something that we set up as

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a free service for local businesses.
So if you are a local business,

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go and post in that group.
It's a Facebook group shoplocalsoufalls dot com courtesy

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of your friends here, it's sonny, do you cringe when you get your

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people are paying just fifteen dollars a
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dot com. That's mintervention dot com. Thanks for listening to the John n

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Heidi Show. Very excited to have
Brent Baker joining us once again with a

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little real estate update and We recently
started going through a list of realator terms

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and things that maybe you'll hear a
realtor talk to you about, and you're

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going, what in the world do
these things mean, and what is the

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next term on our list here,
Brent. Back office. Back office is

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just what goes on behind the scenes
at a lender's office or an underwriter.

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It is all the type of thing
that would drive me crazy. Me too,

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but somebody has to do it.
Yeah, thank goodness, there are

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people who like that stuff. Yep. Blind offer. Okay, so this

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is in the case of and it
happens more commercially than residentially. A blind

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offer is when somebody writes an offer
that they have actually not seen personally.

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I may have seen the pictures,
but they have not actually set foot in

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it, so it's sometimes referred to
as a blind offer. Broker price opinion

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sometimes referred to as a BPO.
I've heard BPO. I don't know why.

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What is that? So? The
broker price opinion is when a realtor

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or some licensed professional walks through a
property and evaluates that they do the comparable

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sales in some ways similar to an
appraiser, and it is just with that

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it's an opinion of that day,
and it's done by a non appraiser,

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so it's it's like an appraisal,
but it's not an appraisal. It's just

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my opinion of what I think it
would appraise for. Correct. It's less

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detailed and it's not something that you
can take to court and say, but

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he said, it's just a guess. Correct. Concessions buyer concessions are benefits

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or discounts offered by the buyer to
the seller. So sometimes you're trying to

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get the seller to go along with
your lower price, and so instead of

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paying a higher price, you offer
to do something or provide something, or

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pay some expenses. In this case, so maybe you pay all of the

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seller's expenses, all the seller's closing
costs and so forth. So that's just

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a way to kind of hopefully sweeten
a deal for them, correct, to

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get the seller to go along with
your plan or your offer. Cancelation of

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contract. I bet we know what
that one means. It is what it

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sounds like. Occasionally, there are
times, typically in a contingency phase of

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an offer or a contract, that
the two sides can't come together, and

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it might be over the inspections buyer
wants certain things done, sellers not willing

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to do them or cannot afford to
do them, and so they part ways.

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Sometimes it's the appraisal. Appraisal flags
something physically or flags it financially.

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It says, no, it's not
worth x, it's only worth this.

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Yeah, And buyer and seller can't
work something out, contract will be canceled.

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Nice. Well, not nice.
It's sad, but I understand what

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it means for sure. Then yeah, right, nobody gets all the marbles.

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Yeah. Comparative market analysis Okay,
we call them a CMA. Yeah.

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And so what we're doing, it's
a variation of the BPO. We

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are looking for recent sales of similar
properties, similar in age, bedroom,

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square footage, the whole boloax.
And so we're trying to establish what a

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subject should be worth. Nice.
Contingency. We are back to the word

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contingency. Yeah, I've heard this
one a couple times. Contingencies can be

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a number of things. It can
be contingent upon finance, it could be

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contingent upon satisfactory inspections, contingent upon
a satisfactory a prey or closing date.

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So it's kind of an I will
if you will correct or I will if

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as long as it does this,
I'm interested in doing this that is correct.

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So a set of circumstances that you've
got to make sure are okay before

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we do this correct and you know
they affect both parties, so you know

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we have to be an agreement before
we move forward on this. A conversion

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and conversion sometimes is used in a
number of different ways. Probably not something

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that we see very often in the
real estate market, but it is a

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term that we see from time to
time, just not really a good explanation

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for what it is for the average
homeowner. Nice counteroffer. I've heard this

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before too, sure and we've done
it. Yeah, but counteroffer, so

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buyer makes an offer on a subject. Property seller is wanting maybe more money,

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or wants a different closing date eighth
or maybe sister share. Go ahead,

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do your inspections. I'm not fixing
anything. Yeah, but it is

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a response to the original offer that
is different than the original offer. Very

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nice, and again, I think
this would be a very good place to

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take a break, and we'll come
back next week and we'll work our way

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through the list. Brent, if
somebody would like to reach out to you

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this week, what is the best
way to get a hold of you.

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You can find me at Brent Baker
at kW dot com or my number is

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six to zero five three to one
zero zero two nine seven. Very nice.

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You can also find him online at
clients First group dot com. Give

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yourself. It's the most wonderful time
of the year that it can also be

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00:07:46.319 --> 00:07:49.800
expensive. Are you still paying for
last year's Christmas gifts? Maybe you need

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00:07:49.839 --> 00:07:54.519
better credit cards. We'd love to
help at better credit Cards dot com.

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Find a card that's a better fit
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points or miles, others just on
a lower rate. Find what you're looking

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for at better credit Cards dot com. Good credit Cards. Time out for

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this day in Sue Fall's history,
brought to you by the Soup Falls Fund

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Page, West Sue Studios and Sunny
ninety three point three. It was on

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this day, December eighteenth, eighteen
eighty eight, that Charles M. Day

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married Anna Louise Davenport, and less
than a month before their marriage, Charles

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Day had purchased the Argus Leader newspaper. After Anna joined him, the couple

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made it their live's mission to create
the number one news source in the state

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of South Dakota, and they accomplished
that dream and much more. Anna Louise

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Davenport was the daughter of a famous
and wealthy local attorney, Davenport Law Office

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fame, and Charles was just a
news reporter making his way up the chain

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in the newspaper world. When the
opportunity arose for him to zip ahead to

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the front of the line as the
owner of the paper. He found a

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financial partner named Joseph Tomlinson Junior,
and together they bought the newspaper and made

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Charles Day the editor. He then
married his sweetheart and the rest was nothing

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but good news. Charles would remain
the editor of The Argust Leader until nineteen

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forty two. That's a staggering fifty
four years on the job. Anna would

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00:09:07.480 --> 00:09:09.840
be by his side along the way. Anna passed away in nineteen thirty nine,

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just a few weeks after the couple's
fiftieth wedding anniversary. Charles would live

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another six years, passing away in
September of nineteen forty five. This day

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in seux Fall's history has been brought
to you by the sux Falls Fun Page,

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00:09:22.240 --> 00:09:26.600
West Sue Studios and Sonny ninety three
point three. Do you cringe when

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you get your mobile phone bill.
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far less than most people are paying
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now at mintervention dot com. That's
mintervention dot com. Hey, this episode

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00:09:56.559 --> 00:10:00.559
of The John Nheidi Show Bonus Hour
is done. Now. There are times

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00:10:00.639 --> 00:10:03.759
during the Bonus Hour I'll mention something
from a regular program, The John and

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00:10:03.799 --> 00:10:07.879
Heidi Show, which is syndicated on
like three hundred stations around the country.

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There's actually a podcast for that as
well. So if I mentioned something that

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you're going, hey, whatever happened
he didn't talk to that person, or

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this didn't happen, that didn't happen, you can find that podcast at John

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d. Heidishow dot com. Thanks
for listening to The John and Heidi Show

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Bonus Hour.