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Just wondering if my situation is the norm. Got an accepted offer on a home that had over a dozen offers on it the first day on the market (which is the norm where we live). Realtor said we needed to do inspection asap and get contracts signed before a higher offer came in. She said she had a great inspector and would book it for us the next day. He only had an evening appt avail, which we said was fine. Next morning (day of inspection) we get a call from our realtor notifying us that the sellers had received a higher offer and we had to match it. We immediately said no- we had gone as high as we were willing to go. We no longer had an accepted offer and immediately notified the inspector via email and voicemail that we would no longer need the inspection and would call him as soon as something else came along. The inspection was at 5pm and I had called him before 10am. Later that evening I received a text message from the inspector letting me know that due to the last minute cancellation (he was given 7 hours notice and appt had only been booked prior evening) we owed him 50%, which was $350. I never spoke with the inspector, nor did I realize there was a cancellation policy- just assumed in our crazy real estate market- this is the nature of their business. I feel like if anyone should be responsible- should be the sellers- as we had an accepted offer when appt was booked. Well..... he def lost a future customer and potential referrals. Is this the norm?
I'm curious about the offer. If it was accepted, how did they come back and say you needed to bid more? Shouldn't accepting your offer be binding?
And for the inspector...no way I'd pay that!
We live in NYC area and nothing is binding until contract is signed. Offers can keep coming in until contracts are signed (generally several days after accepted offers). In NY- nothing is signed until inspections are done and then deposits/contracts. But-many realtors wont accept other offers when they have an accepted- not the case here. It seems immoral to accept an offer and then reneg, but happens all the time. I do believe if you go through with an inspection and sellers accept a higher offer- they have to or generally should- cover the costs of the inspection. Feels like warfare trying to buy a house here.
Thanks...glad you agree re: inspector.
My physician charges me a fee if I don't call and cancel an appointment within 24 hours. Don't see why an inspector or any other professional can't do the same thing.
Typically, inspectors have very tight schedules and a last minute cancellation may not get filled with another job and they can loose money for unfilled appointments.
It is possible that your realtor may offer an incentive if you do purchase a property through them, to offset the penalty you were charged for.
I find it hard to believe he would have filled the appt between the hours of 7pm and 9am. Real estate is a bit different than a doctor's appt. I doubt your doctor would charge you 50% of what they bill your insurance company. I was not aware of a cancellation policy as you are aware of your doctor's. If anyone should pay- it should be the sellers- who caused the cancellation of the appt. My realtor was annoyed he charged me that- considering she refers him on a regular basis.
I find it hard to believe he would have filled the appt between the hours of 7pm and 9am. Real estate is a bit different than a doctor's appt. I doubt your doctor would charge you 50% of what they bill your insurance company. I was not aware of a cancellation policy as you are aware of your doctor's. If anyone should pay- it should be the sellers- who caused the cancellation of the appt. My realtor was annoyed he charged me that- considering she refers him on a regular basis.
The realtor knew the possibilities of what could happen. And then, if those things did happen, that there was a cancellation charge. That's why you hire a professional Realtor. Tell her to handle it.
I find it hard to believe he would have filled the appt between the hours of 7pm and 9am. Real estate is a bit different than a doctor's appt. I doubt your doctor would charge you 50% of what they bill your insurance company. I was not aware of a cancellation policy as you are aware of your doctor's. If anyone should pay- it should be the sellers- who caused the cancellation of the appt. My realtor was annoyed he charged me that- considering she refers him on a regular basis.
Well, it is New York. Y'all do stuff differently up there.
No- never signed a contract. The realtor set up the appt and emailed me his contact info after it was scheduled.
"Go pound sand" comes to mind.
Quote:
Originally Posted by cully
The realtor knew the possibilities of what could happen. And then, if those things did happen, that there was a cancellation charge. That's why you hire a professional Realtor. Tell her to handle it.
Right. The agent should be fluent in "Go Pound Sand."
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