Mortgages

Mercutio

Fatwah on Western Digital
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If it makes you feel any better, Bank of America would not let me look at information about my car loan on their web site since I didn't have a checking/savings account there.

I got even by paying the car off 28 months early.

Anyway, when do we get to see pictures of the new place?
 

Adcadet

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You'll get pictures as soon as I know it's mine. Right now, I don't know if I'll get the house or if I'll keep the agent. If I could I'd dump her immediately as I suspect she's been lying to us. But then again "never blame on maliciousness what can be blamed on stupidity," or something like that.

But, in case I do get it - how close can computers safely come to a hot tub?
 

Mercutio

Fatwah on Western Digital
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Some of my clients are real estate agents and another group are appraisers. There's a LOT of collusion between your agent and the sellers, usually. It benefits everyone but the buyer.
 

Adcadet

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I'd be fine with collusion if that's all there was. I sortof understand that no buyers agent is really a buyers agent. But when she misrepresents a counter to me multiple times and consistently, to the point of dismissing something that reads "this purchase agreement is contingent upon . . . " as not a contingency and just a courtesy, that's different. I'm at the point of thinking about how much it would cost to hire a real estate lawyer, break my contract with my current agent, and have the lawyer draw up the contract and whatnot. Maybe I'd need a broker as well. Not sure.
 

Howell

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You do not need an agent at all. Unless you signed something, you can switch agents at any time. Generally another agent would not take you on out of professional courtesy. Even if you did sign something I would say she has already broken the contract with her behavior.
 

Adcadet

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Tonight we asked to speak directly to the seller's agent to clarify the contract, something we do not think our agent is capable of, nor trustworthy to do. Shortly afterwards, we got an email from our agent explaining that she's been working very hard for us and offering to recommend a different agent if we wanted. I took this to mean that she is starting to understand that she screwed up and is scared. So it sounds like she'll be happy to let us out of our contract, something I wasn't too worried about given her behavior anyway, as Howell mentioned. We may appreciate that if this current deal fails to go through, as I'm pretty sure I don't want to deal with her any more than I have to. After this is all done and settled I'll consider filing complaints with the various groups.

But this still does not fix the fact that the sellers likely believe that we reached an agreement that includes a contingency which we never agreed to given the way our agent explained it to us (her email with their counter never used the term "contingent" nor "contingency") and she denied that it was a contingency multiple times. Like I said, this only became an issue once I went to sign the purchase agreement and saw that their agent had written in a contingency.

The seller's are tied up right now with some serious personal matters but I hope to hear by morning if they're willing to drop the contingency. I have no idea how my agent will present this to their agent, nor how their agent will present this to the sellers.

I hate real estate agents. I really do.
 

Pradeep

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What is the contingency for?

We had trouble with our first mortgage company. They were taking way too long to get the paperwork together. We ended up ditching them and switching to another company.

There's no reason to put up with sloppy work, especially when dealing with probably the most expensive thing you will ever buy, there's plenty of options out there.
 

Adcadet

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The contingency gives them some time to find an acceptable home to purchase. Our understanding from their agent is that they are looking to buy a foreclosed home, and the bank has been skeptical of their finances and will hopefully agree to let them buy the house/get the mortgage once they sell their current home.
 
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