Ai, yai, yai! AKA OMG!
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Ai, yai, yai! AKA OMG! (by DJ [VA]) Oct 15, 2021 9:52 PM
       Ai, yai, yai! AKA OMG! (by DJ [VA]) Oct 15, 2021 10:01 PM
       Ai, yai, yai! AKA OMG! (by plenty [MO]) Oct 15, 2021 10:31 PM
       Ai, yai, yai! AKA OMG! (by MC [PA]) Oct 16, 2021 8:02 AM
       Ai, yai, yai! AKA OMG! (by gevans [SC]) Oct 16, 2021 8:21 AM
       Ai, yai, yai! AKA OMG! (by myob [GA]) Oct 16, 2021 8:34 AM
       Ai, yai, yai! AKA OMG! (by 6x6 [TN]) Oct 16, 2021 8:58 AM
       Ai, yai, yai! AKA OMG! (by Ken [NY]) Oct 16, 2021 11:54 AM
       Ai, yai, yai! AKA OMG! (by Oregon Woodsmoke [ID]) Oct 16, 2021 12:26 PM
       Ai, yai, yai! AKA OMG! (by Oregon Woodsmoke [ID]) Oct 16, 2021 12:26 PM
       Ai, yai, yai! AKA OMG! (by DJ [VA]) Oct 16, 2021 12:30 PM
       Ai, yai, yai! AKA OMG! (by DJ [VA]) Oct 16, 2021 1:41 PM
       Ai, yai, yai! AKA OMG! (by Renne [TX]) Oct 16, 2021 3:01 PM
       Ai, yai, yai! AKA OMG! (by WMH [NC]) Oct 16, 2021 3:20 PM
       Ai, yai, yai! AKA OMG! (by Wilma [PA]) Oct 16, 2021 4:26 PM
       Ai, yai, yai! AKA OMG! (by MAP [NY]) Oct 17, 2021 9:34 AM
       Ai, yai, yai! AKA OMG! (by plenty [MO]) Oct 17, 2021 11:04 AM

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Ai, yai, yai! AKA OMG! (by DJ [VA]) Posted on: Oct 15, 2021 9:52 PM
Message:

I just would like to vent frustration to someone who can commiserate, if I may.

I will TRY to keep it brief (but that's not my best skill ; )

A house was listed for sale Tuesday, in my exact, perfect neighborhood where I want to buy & hold a rental.

30-40K below comps. I want to JUMP on it!

Yes, once in a while you can find a decent deal that is listed - but they tend to go fast. I've seen some under contract in 2 hrs, before I'd even had a chance. So I texted a Realtor I've used a few times - listed the last two for sale through them. She sends me to a "team member" who is free.

He says the listing says 24 hrs notice to show, & not until afternoon Wed. And he won't be available until 3:30. I'm thinking someone else will see it and get it under contract before 3:30.

I want to make an offer NOW - see if I can get it under contract before I inspect it the next afternoon.

Anyway, it hasn't gone that way at all. Never got an offer in until Later Tuesday evening. Still not under contract. Lots of time "waiting to hear back". If he's the "available" agent, geez! He was NOT available.

So I inspected Wed, found issues, modified my offer price, finally settled verbally on their counter-offer. $90K & I pay their closing costs. 7 hours between my verbal acceptance of counter-offer and the agent writing it up.

I finally get emailed my offer for e-signature. Contains errors. Several. I send email with corrections. Get this error in particular: The offer said I would pay 3% for seller concessions! Hold on.... I agreed to pay seller's closing costs(I estimate no more than 1K, not $2700)

My Realtor says, "that's what she sent to me". I think, "OMG! do you not know the difference?!" I had even said the estimated cost to him when calculating to accept their counter-offer. He is not looking out for me at all.

More corrections. More waiting. Did this a couple times. FINALLY got the amended offer - now with no inspection contingency - sent at 11:00 last night.

It is so frustrating that I had to literally tell this Realtor what boxes to check, and what to put in the contract. Then tell him again - like he wasn't listening / just doesn't care.

So I'm hoping, maybe, finally today we'll get a ratified contract.

NOPE. Listing Agent (LA) replied that the wording of "Buyer will pay standard seller's closing costs" is too vague. Wants to put in the specific dollar amount ($2700, or get a price from a closing agent)

Now I know I can't fall in love / NEED any particular house. But, did I mention it's in the EXACT neighborhood where I want to hold? So, OK, Keep going.

Contacted my closing agent I've used many times. She types up the cost, breaks it down for them, puts it on letterhead & we send it over to LA.

**Here is where it is really interesting - truly the FIRST (and hopefully last time)I've heard this. LA says, basically: no way! That is too cheap. I don't believe seller's costs would be that low, never seen it so low. I need to check with another title company to compare.

WHAAAAAAAT?? You've GOT to be kidding me! Why earth do they care how much I pay for them, as long as I pay it - not them?

(The only reason I can think is they would have wanted a couple thousand more in sales price.) BTW: I agreed to close quickly on the day they want (10/26). Just take the quick cash & go!

Of course, it is now just a little before 5:00, so this can't be done until Monday.

I have realized the LA must be confused between buyer's vs Seller's costs, and asked my agent to convey that to her - but, I'm sure, to no avail.

GREAT. BIG. SIIIIIIIIIIGH.

Ai, Yai Yai!

Miraculously, at least, I don't think it's under contract with anyone else either. But, are they stalling, and could take another offer over the weekend? I guess we'll see......... --68.229.xxx.xxx




Ai, yai, yai! AKA OMG! (by DJ [VA]) Posted on: Oct 15, 2021 10:01 PM
Message:

OH, BTW: my closers can pull it off to close in a week, especially if they do both side, but it's a rush. And it's the end of the month.

I leave on an 8 day trip on Wed AM 27th. I had told my agent up front to inform seller time is of the essence - if we don't close on 26th, it will be a delay. Found out today, he never mentioned that - and I didn't catch it to add it to the contract.

If we can't manage to get it ratified Monday - preferably AM - so I can get it to the closers, I don't know........

The standard realtor's contract only allows for a delay to get financing. UGH!

Now I'm trying to figure out how to close from MN?

Leave the bank check with the closing agent & post-date my signature?

I don't know........ --68.229.xxx.xxx




Ai, yai, yai! AKA OMG! (by plenty [MO]) Posted on: Oct 15, 2021 10:31 PM
Message:

Hope you get it! --172.58.xx.xxx




Ai, yai, yai! AKA OMG! (by MC [PA]) Posted on: Oct 16, 2021 8:02 AM
Message:

You can do just about anything via overnight and electronically these days. --73.230.xxx.xx




Ai, yai, yai! AKA OMG! (by gevans [SC]) Posted on: Oct 16, 2021 8:21 AM
Message:

We have a similar one going right now. FSBO, and they are unresponsive. I talked to her in person, and she wants a quick sale, but will not respond to my emailed offer or texts.

I don't know if she is waiting for a better offer, already sold, or just changed her mind.

But...it's the right house in the right place. I'll try again this morning. --216.218.xxx.x




Ai, yai, yai! AKA OMG! (by myob [GA]) Posted on: Oct 16, 2021 8:34 AM
Message:

have you ever heard this:

"he who cares least wins" --66.133.xx.xx




Ai, yai, yai! AKA OMG! (by 6x6 [TN]) Posted on: Oct 16, 2021 8:58 AM
Message:

My patience is thin, I would have told them where to shove it.

Along the lines of what myob is saying.

I just read this morning in that according to a recent survey, people are starting to slack off on house and car buying do to the inflated prices. However surveys can be unreliable. Time will tell. --73.120.xx.xxx




Ai, yai, yai! AKA OMG! (by Ken [NY]) Posted on: Oct 16, 2021 11:54 AM
Message:

6x6 I am thinking things are starting to slow down here,i am seeing buyers backing out of contracts and getting pickier --72.231.xxx.xxx




Ai, yai, yai! AKA OMG! (by Oregon Woodsmoke [ID]) Posted on: Oct 16, 2021 12:26 PM
Message:

It could be "closing costs up to and no more than $2700" and you'd get the house and they wouldn't get extra money beyond the closing costs.

$2700 is a lot of closing costs for a seller. But everything has gone up in cost and I haven't closed a house for at least two years, so I don't have up-to-date cost info.

--76.178.xxx.xxx




Ai, yai, yai! AKA OMG! (by Oregon Woodsmoke [ID]) Posted on: Oct 16, 2021 12:26 PM
Message:

When it is done, I would file a complaint with the broker. --76.178.xxx.xxx




Ai, yai, yai! AKA OMG! (by DJ [VA]) Posted on: Oct 16, 2021 12:30 PM
Message:

myob & 6x6:

Yeah, I've had those thoughts a few times over the last few days.

But did I mention it's in the PERFECT neighborhood?

I'l just wear my rubbers/hip waders for walking through the BS & keep trying. Sometimes, patience & perseverance can pay off.

BTW: my best lesson from this is WHY on earth did I let a buyer's agent get in my way?! I TOTALLY should have just dealt directly with the LA. I've done that before, quite successfully.

Never again! --68.229.xxx.xxx




Ai, yai, yai! AKA OMG! (by DJ [VA]) Posted on: Oct 16, 2021 1:41 PM
Message:

oregon: The actual costs are under $800 for the seller. --68.229.xxx.xxx




Ai, yai, yai! AKA OMG! (by Renne [TX]) Posted on: Oct 16, 2021 3:01 PM
Message:

DJ, your last post is what I was going to recommend. We have bought and sold many places and after the first experience trying to buy with a buyers agent, we said never again.

Unbelievable back and forth time wasting is what we experienced. In our area of Texas right now, things are being sold in a matter of hours so there is no time to dilly dally!

Now we purchase independently, go straight to the Listing Agent and get answers fast. Here we don't have hours, let alone days to wait on an answer.

Thursday evening had something pop up on MLS that fit our criteria, left message for listing agent explaining we were investors who had 2 properties in that same neighborhood and only had 1 question and it was if the septic was permitted. Told him we were not represented by another agent and would be represented by him.

Friday morning at 8am called again and got his cell phone number from receptionist. Called him and left voice mail.

Friday at 10 when he returned my call he had the answer about the septic. I didn't believe the owner's disclosure about septic being sized for 3 homes, so called the septic maintenance contractor the owner referenced to see what type of septic they had. Sure enough, the septic was only sized for 1 3 bedroom home and there are two homes on that property. Checked with county to see what was on their development permit and had all the answers we needed to make a decision.

Have you thought about getting with the listing agent anyway? Still pay the commission to the buyers rep (even though they are not getting the deal done in a timely manner), but get your offer in front of the person who is advising the owner? Offer to pay the listing agent they "missing" 3%?

Offer to pay owner a selling bonus? We did that once- not sure it was called a bonus or what, but we paid him $1,000 as insurance that if we didn't want the house after the inspection he would be compensated for the time off the market and the hassle to re-list.

Pay the listing agent a bonus?(The Broker will need to get the bonus and s/he can decide how to split it up).

Something to think about - we would never let a measly 3% of a sales price stop us from getting the right deal. On our last 3 places we paid over asking price and over the appraised value because we knew they would cash flow and appreciate for us and they have.

In the long run, we have made multiple times that extra $50-70,00 we paid over asking/appraisal spread out over 3 properties.

Don't let a lousy real estate "professional" stand in your way, go around them and get what you want.

All the best!

Renne

--12.196.xxx.xxx




Ai, yai, yai! AKA OMG! (by WMH [NC]) Posted on: Oct 16, 2021 3:20 PM
Message:

I've found listing agents to be the WORST! They know they get the money no matter WHO sells it, so no pressure on them. That's why everybody wants the listing.

Our Buyer's Agent gets the job done as he is working for US. --50.82.xxx.xxx




Ai, yai, yai! AKA OMG! (by Wilma [PA]) Posted on: Oct 16, 2021 4:26 PM
Message:

The last settlement we had, I had to use a family member who worked for a law firm get everything lined up - the selling realtor's staff was worthless, left everything to the very last minute.

I don't think that I would have had your patience! --98.114.xxx.xxx




Ai, yai, yai! AKA OMG! (by MAP [NY]) Posted on: Oct 17, 2021 9:34 AM
Message:

Listing agents are basically useless. I usually end up doing all the leg work. I do not usually get a buyer's agent unless I'm selling my own residence. --72.231.xxx.xx




Ai, yai, yai! AKA OMG! (by plenty [MO]) Posted on: Oct 17, 2021 11:04 AM
Message:

What Renne TX wrote. Skip the drama. They will work to retain all the commission. Time saver. Still do your homework cause the represent the buyer. Get the deal. --172.58.xxx.xx



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