patrick.net
An Antidote to Corporate Media
1,260,458 comments by 15,051 users - Baloo, Ceffer, Patrick, WookieMan online now
invite responseComments 1 - 7 of 7 Search these comments
Done!
2011 Jan 27, 11:22pm
I had to dig up a retired Commercial RE relic from the Yuppie days, that wasn't even sure how it works now.
But at least I knew him and was able to lean and push, to get things done. I did all of the leg work, phone calls and printing copping emailing faxing ect... He was just there for signatures and appearance of protocol.
you did the right thing.
the realtor is jacking you around.
you don't want to buy from crooks since you'll likely get screwed throughout the buying process and secondly, i don't like working with crooks (i will but only if the discount makes it worth it; i'm practical that way).
"Banks…real estate agents…crooks. Every one of them"
Sorry to hear about that. But your right. Govt is too busy chasing their traditional foe, Wall Street, to ever notice the scams on main street. Realtors will pull every trick with you and the next guy to squeeze out that extra $. Pretty pathic !
Good thing you didn't shell out any money for inspections. I wonder if they wanted you to spend a few hundred dollars for inspections, and then raise the price on you since they know you now have made a non refundable contribution.
Personally the latest transaction I'm involved in is a short sale, and they wanted me to order an appraisal on the property to get ready for the loan before they even have the second bank approval. I declined.
While we were waiting for that short sale, another listing came out for $425k requiring all cash. We offered just that, as-is, with no contigencies. They withdrew the property off the MLS because it probably didn't get the bidding war they had hoped for.
permanent_marker
2011 Jan 28, 8:40am
@david1
sorry to hear that. What if it re-surfaces on MLS? Would you make your offer?
Permanent,
Nope. I don't trust the jokers and wouldn't make another offer with them, even if the house came back up.
It is still on the MLS by the way.
Thought you all may be interested in this one:
Wife and I are attempting to purchase a house. Price/Rent in my area is actually skewed towards buying...as an example, but excluding any potential tax benefit, PITI in my (new, just moved to Charlotte from Florida a few months ago) area is about 10-20% higher than comparable rent.
So we find a house we like, listed on the MLS for about 4 months, foreclosure...originally listed at 249K. Needs about 10K in repairs, currently listed for 201K. I offer 195, they counter at 199K which we accept. Drop off the earnest money deposit check and sign sales agreement. I notice the counter offer is not executed by the bank, so even me signing it doesn't mean it is a done deal. Ask him about that, he says the bank never executes a counter offer first.
Fast forward a week, I call the listing agent asking why in the world the fully executed sales agreement hasn't been returned to me yet. I cannot get financing started until I have a fully executed agreement and their tardiness is harming my ability to perform the contract, ie get financing to close by the close date and inspections.
He says it sometimes takes a few days for the bank to sign off on it...I say a week is too long even for that. He also mentions that I could go ahead and do the inspections while we are waiting for the bank to sign. I tell him no thanks to that.
A few hours later he tells me he has another offer on the property and wants my highest and best offer.
I give him my highest and best - removing my offer completely.
Funny thing is we didn't have a buyer's agent..so if this other "offer" is real and it came through an buyer with an agent, he cost himself several thousand dollars by not buttoning up our deal.
Banks...real estate agents...crooks. Every one of them.
#housing