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    How about a BOM – That is Back on Market – it is almost as bad :-(

    real estate back on market in santa claritaIn addressing our Internet TV Show audience, for our BOM Saturdays, we came across the question of what a BOM is as it relates to Real Estate and the status of Certain real estate listings?

    BOM – Stands for Back on Market.  It means that escrow, the escrow the property was involved in, stopped for some reason.  What are some of the reasons a property might BOM?

    • Death (I thought I would start with the biggest issues first – this one is hard to fix)
    • Non-Performance – it could be because of the buyer wanting something fixed and the seller denying them.  It could also be a visa-versa type of situation – the Seller might want the buyer to do something, and the buyer might be refusing.
    • Appraisal – It could be that the property does not appraise for the amount it is being sold at.
    • Short Sale – the bank might not approve the short sale after looking at the sellers financials.  It might be that the Short Sale Buyers might have moved along and did not inform the Short Seller or their Real estate agent.
    • Home Inspection – Maybe the home inspector discovered something that the buyer could not live with – Buyer is well within their rights to cancel the escrow while in the inspection period.
    • Many other reasons.
    Fact of the matter is that properties BOM – most likely it is not a reason to not approach the property with your offer that will be presented by your real estate agent.  

    Paris and Connor MacIvor

    Connor and Paris MacIvor are in the Top 1% of Realtors Nationwide, starting their real estate business in 1998 with RE/MAX Gateway - Santa Clarita Valley and Valencia CA. Their becoming licensed real estate consultants and representatives came from the horrible experience they had when they bought their first home. There were many things that the agent they had hired did not explain and disclose, which per law he should have. Getting that agent on the phone after they closed escrow and after he had gotten paid was impossible. Paris and Connor called the broker, the board of realtors, the office manager and all they received was the promise of a phone call back. The remedy did come, but not as fast and in the way they wanted. That act - that bad agent was the reason why Paris and Connor became Realtors. That was all they needed to vow to never let the same fate befall anyone else, that befell them. Today Connor and Paris are focused on client service. Protection and top-shelf service with regard to their real estate clientele. They primarily work within the Santa Clarita Valley and Valencia CA. However, for a referral, where 80+ of their business is referrals they have License and Will Travel to other parts of Ventura County, Los Angeles County, and Orange County to handle real estate transactions for those who trust their real estate operation. Writing on their Real Estate Blog is a passion. SCVnest.com/blog is where you will find over 10,000 real estate articles. Go to SCVnest.com/radio to listen to their latest real estate radio broadcast.

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