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marie56
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Hi, background and a question.

We found a house we like that needs work. We made 3 different offers back in July. We were told they had same offers as we put in, but those offers were for cash (we are FHA 203K). We don't think the selling realtor even put in our offers, but of course, can't prove this. Plus, this selling realtor was very hard to get in touch with and wouldn't tell our realtor anything.

Well 3 months later, I see the house listed "new this week" for $15,000 lower than what they wanted in July. All their cash offers did not pan out. We were never contacted to see if we wanted the house. Anyway, we put in another offer today because we really want this house.

Then today after receiving our 4th offer since July, selling realtor called our Lender, not our realtor and is telling him there are all kinds of major things wrong with this house! It is being sold "as is, no disclosures".

My question is, is the selling realtor supposed to be calling our lender like this? Doesn't this go against their code of ethics or something? It just doesn't seem right.

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Personally, I have a realtor who I work very closely with, we share everything-step by step and keep one another informed as to whats going on. At the same time though, we are both in close contact with our client and everyone involved on the transaction as well, which is obviously not the case here.

That realtor should have at least got in touch with your realtor, at the very least. Judging from your post, it sounds as though the selling realtor isnt the greatest person to work with.

Hope you get your house though.

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It might be worth making a firm offer, with a 500 deposit. Then have a home inspector go into it (you will need someone to make the bids) and if it is indeed major, walk away from the 500.00.

Sometimes there is a reason that the selling realtor is being a jerk-like he may have a friend make the only offer and the two of them get a REALLY good deal.

Charles

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My realtor isn't happy about this situation either.

We submitted the offer with $1,000.

We have been in the house 5 or 6 times. It has been closed up for a year, but this means the sump pumps have been off also, so some water in basement (4 rooms in basement, only 1 wet - where the sump pump is). Yes, mold also, but so far just surface mold. These are things we can take care of with no problem. We just want to get in soon before things get out of hand.

This is a house we wish to live in for the rest of our lives. We are not young, in early 50's, so know what we are getting into.

I think I will write to the Board of Realtors with my complaints and take it from there.

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Customs are different in different areas, but there is a rule that your realtor will know about as to how much time the selling realtor has to submit the offer to the seller and how much time the sellers have to reply. I would suggest that your realtor call the sellering realtor 1 minute after the alloted time so that they know you are not going to accept delays.

Then, if you think that the other realtor did not actually submit the offer, you can be a "dumb buyer" and without your realtors knowledge contact the seller to make sure that they got the offer. Let your realtor know what you are doing of course, but...

Charles

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Hi, background and a question.

We found a house we like that needs work. We made 3 different offers back in July. We were told they had same offers as we put in, but those offers were for cash (we are FHA 203K). We don't think the selling realtor even put in our offers, but of course, can't prove this. Plus, this selling realtor was very hard to get in touch with and wouldn't tell our realtor anything.

Well 3 months later, I see the house listed "new this week" for $15,000 lower than what they wanted in July. All their cash offers did not pan out. We were never contacted to see if we wanted the house. Anyway, we put in another offer today because we really want this house.

Then today after receiving our 4th offer since July, selling realtor called our Lender, not our realtor and is telling him there are all kinds of major things wrong with this house! It is being sold "as is, no disclosures".

My question is, is the selling realtor supposed to be calling our lender like this? Doesn't this go against their code of ethics or something? It just doesn't seem right.

The selling realtor should not be contacting your lender until the offer is accepted. Everything should be through your Realtor. Your lender should not tell them anything and should tell them to talk to your Realtor and get back to him/her with a purchase agreement.

It will be up to the home inspector or the appraiser whether the house is "fit" or not. Obviously, it is okay to put on the market to sell. If it was in such disrepair, it would be listed as such. It should state "Cash Offers Only" if it would not qualify for an investor/lender.

Good Luck. Have your realtor call the other realtor's broker. - After your accepted purchase agreement of course!:-)

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FHA guidelines are very strict in regard to properties. A FHA inspector is always involved in a 203k loan. Although you get a building inspection, the FHA inspection (who is very expensive) can override all patch jobs are require more extensive repairs. I believe the repairs must be over $25,000 to qualify for that program. I work very closely with FHA but have never done a 203k because I've been told it is a nightmare. If there is mold, if there is water in the basement, what other rot will you find on the foundation - which could cost thousands to repair. If three cash buyers walked - something is seriously wrong here.

Regarding the selling realtor, he may have been inquiring about the FHA process and the lender probably asked about the condition of the property???? I would have.

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Thank you all for your responses. I already had a family member who is a general contractor look over this house, he spent 3 hours going over everything. It really isn't that bad.

The biggest problem is probably the mold. My husband sprayed the mold in the bathroom and utility room in the addition in July and it came clean just from that spraying. When we went back September 30th it was still clean in the areas he sprayed. We are convinced that the mold is due to the electricty being turned off for a year (causing the sump pump to be turned off also). If the sump pump were running, there would be no water in the basement.

My main concern was the selling realtor calling my lender and quoting him prices to fix these things and seeking information about us that isn't his business. We qualified for the loan, that is all he needs to know at this point. When the inspector goes thru, then a final decision would be made.

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Well my husband couldn't take this selling realtor's (his name is John) not calling our realtor anymore and he called him. John told my husband that for our loan to even be considered to buy the house, he would personally have to approve all our bids for the work that needs to be done!!!!!!

He is the selling realtor, he should not determine who we get bids from or for how much, what the hell is he doing? He said he explained this to our realtor, but he never called her, he talked to our loan officer who, in turn called us and told us to go forward, to ignore this guy.

Our realtor called John right after my husband did and he never told her he talked to my husband and started telling her how to do her job, among other things, and when she said "what?" he told her he doesn't repeat himself. She hung up on him. He is nasty everytime she calls him (and she is super sweet).

I have downloaded the form from the realtors board and we are writing up our complaint now.

I forgot to mention, John also stated to my realtor that the new listing price is incorrect (listed on MLS for past 2 weeks at least) and he is asking the bank to lower the price another $10,000 from the ORIGINAL asking price, not the one listed now, it would raise the current listed price by $10,000 (our offer is still over that price also).

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Go straight to "John's" boss, and if you know what bank owns the property contact the real estate office of that bank.

Technically, on a 203k loan, you can leave one brick of the foundation and begin building from there. I take it, you have already been preapproved, and waiting on the FHA inspector.

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Basically, our realtor told me he wanted the work done first, I replied why, when I don't even know if I would get the house? It is so screwed up I can't believe it. He wants all this done before he "recommends" to the owner to let us buy it!!!

The owner is Deutsche (sp) Bank in California. I can't find contact info for their real estate division.

Apparently, they had a cash buyer in July, but he kept demanding more and more concessions, so the deal fell thru.

My husband spoke to the owner of the realty company (another Jon), also known as hard to deal with, and he won't talk to our realtor even though he told my husband he would.

We are preapproved for FHA 203 (k) Streamline (also for a conventional loan, but would not have extra $ to fix up the property, nor a go for "as is").

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May 30, 2006 at 10:00 am

Case Number Parcel Address Appraised Start Bid

2005CV01719 28-02126 13760 Overcrest Street NE, Alliance, Oh 44601 142,500 95,000

Deutsche Bank Co of California vs Vicki L Bryant

John Clunk (330)342-8203 Deutsche Bank Co of California 95,000

This "John" was an attorney representing Deutsche Bank on a foreclosure for Stark County in Ohio.

I hope this is not one of your "john's." No pun intended.

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LOL best laugh I've had in several months. Thank you amortgageman!!!

And thank you for the information. We will call and see what we can find out. We are up by Toledo so this is not one of the nasty "Johns". Thank you so much, all of you, for your help.

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