[happyinMI]

Originally Posted by johnrex62

I am hoping that you have left out much of the scenario regarding the appraisal because so far I have not gleaned what smelled rotten in Denmark. Appraisers do make mistakes and often realtors can provide information or clarify conditions that do make significant differences in the final appraisal figures. I do not know what the situation was with this deal or what mistake was supposedly made. So I am not questioning your decision or attitude, just noting that I do not see the link between the appraisal event and your decision that something shady happened.

If there really is some unethical or illegal activity that occurred and you can document it, then a call to the Board of Realtors and a formal complaint to them will very likely terminate any contractual obligation you have. If not, then you are probably stuck paying the commission you agreed to in the BAC. We are all guilty of not reading what we sign, but when we make that mistake we normally have to pay for it.

Thank you for the information regarding the Board of Realtors, and that maybe the road we will be taking.

I can understand how you would be confused in the scenario, I had provided regarding the Appraisal/Appraiser and John Doe. After learning that the Appraiser had made a "clerical error", we found out that this particular Appraiser was a friend of John Doe...so do you see where I am leading you. The discussion with the Appraiser and John Doe was all done behind our backs; meaning the Seller and the Buyer (us). The Seller's had NO knowledge of the Appraisal issue. We had found this out after we received our Earnest Money.

Everyone here seems to be very KNOWLEDGEABLE and HELPFUL...thank you!!!

[jimdhen]

Originally Posted by Rapunzll

I agree with jimdhen. Offer less and just pay the agent. So you can't stand him, but is your dislike so strong that you want to potentially lose the house you have fallen in love with? IOW- is this really the hill you want to die on?

Amen. Great post.

[magellan]

Originally Posted by Rapunzll

I agree with jimdhen. Offer less and just pay the agent. So you can't stand him, but is your dislike so strong that you want to potentially lose the house you have fallen in love with? IOW- is this really the hill you want to die on?

Either way, it doesn't matter. If happyinmi buys a house that is listed on the MLS, the seller has already agreed (via a listing agreement) to pay the listing agent a commission and the selling agent (buyer's agent) a commission. happyinmi does not have to come up with money out of pocket.

[TaxBait]

Originally Posted by happyinMI

.... After learning that the Appraiser had made a "clerical error", we found out that this particular Appraiser was a friend of John Doe...

Your instincts are valid IMO. As long as I've been around the construction business I can't recall many appraisals coming in under sale price. On average you'd expect half to come in a little low if they accurately represent market. Appraisers are motivated to help the deal close especially when they are chosen by the mortgage company or realtor. I've even had mortgage brokers ask me how much I wanted the appraisal for.

Personally I wouldn't reconsider the house. There are plenty to chose from and you'd always have doubts. At the very minimum you should ask to have it inspected before you even consider making an second offer. That avoids sigining anything until you are comfortable buying it and further negotiations if problems are found. And pick the appraisor yourself and make it clear you want an honest assessment. And if that comes in mysteriously at SEV you should question the level effort put into it. Most home in my area are selling well below SEV.

[GrandRiverLand]

Sorry for this hassle.

I emailed you my response. I know several folks on the ethics committee and it sounds like they were trying to get a success fee on top of the normal commission arrangement. We would have to look at the contract.

[erics mom]

Originally Posted by johnrex62

I am hoping that you have left out much of the scenario regarding the appraisal because so far I have not gleaned what smelled rotten in Denmark. Appraisers do make mistakes and often realtors can provide information or clarify conditions that do make significant differences in the final appraisal figures. I do not know what the situation was with this deal or what mistake was supposedly made. So I am not questioning your decision or attitude, just noting that I do not see the link between the appraisal event and your decision that something shady happened.

If there really is some unethical or illegal activity that occurred and you can document it, then a call to the Board of Realtors and a formal complaint to them will very likely terminate any contractual obligation you have. If not, then you are probably stuck paying the commission you agreed to in the BAC. We are all guilty of not reading what we sign, but when we make that mistake we normally have to pay for it.

Talk to the agents broker, explain the situation, and ask for a solution. The broker may offer to represent you instead of the agent. The agent will still get paid.

[happyinMI]

Originally Posted by erics mom

Talk to the agents broker, explain the situation, and ask for a solution. The broker may offer to represent you instead of the agent. The agent will still get paid.

Thank you for you reply...but we are not wanting to have to compromise with the Realtor-John Doe or his Broker. We have done everything right; therefore we should and will be grated a release of any Contractual Obligation. We have not spoke for almost a month, 1 more days and in which after the 1 days have passed; we will be completely released according to our Attorney.

Thank you again and Have a Nice Day.

[kcm]

happyinMI,
I feel bad that you started out this way in MI. but I think the advice of the attorney was wise. And I know you feel a lot better having gotten that advice.

Hope you are happy in MI. (It's a beautiful state, I lived there for 51 years.) The Summers are wonderful and the winters are cold !!! But there are a lot of winter sports to do it you choose to.

Good Luck, kcm