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Hi everybody - I'm hoping to get some good advice.
My husband and I have been improving our credit and are finally able to (on paper) get a USDA RD loan. We spoke to our bank and I believe we are pre-approved for this loan (though it could just be pre-qualified; please let me know if the difference matters.)
My lender referred me to a realtor she knows personally who is supposed to be quite good at RD - I heard that RD loans can be difficult if the realtor and lender don't work together well, so I allowed the realtor to call me, which she did immediately.
We discussed what I was looking for in a home, my budget, time frame, etc. She said she would call me back after the weekend with some places to look at. This was at the beginning of January.
She didn't call back. I ended up calling her near the end of the next week, and we were able to look at two houses that weekend. I wasn't sure and wanted to look at some more homes in my price range if she were able to find some. She said she'd call me after the weekend. She did not call.
I tried unsuccessfully to call her various times that week (Husband and I had discussed one of the homes - I wanted to know the next steps and move forward with buying it.) I finally called the office last Friday, was told I'd receive a call back in a few minutes, then hours later called again and got through. She said she'd contact the bank (it is a foreclosure that requires some minor work to qualify for RD, she needs to know if they will consider doing work or will only sell as-is) first thing Monday morning and call me back.
Monday was a holiday, so I wasn't surprised at no call, but this afternoon I didn't get through and left a message. I feel forgotten and unimportant and like I should get a new Realtor, but like this might strain the buying process if the realtor is not familiar with RD or the lender.
Also the realtor I have been using has only shown me properties listed by her company ... she is the listing agent for the property I'm interested in, so if I switch agents, will buying that property still be an option?
Just how hard should I push for communication before I move on? Am I expecting this to move unreasonably quickly?
My thought is that you've given her plenty of opportunities. The first time I helped a buyer with a USDA loan I asked others in my office for any tips and asked the lender for anything I should know about. It really wasn't "that" different than other first time buyers. We just needed to make sure houses were in an approved area and would meet some of the requirements such as insulation, etc. It went smoothly.
Any agent experienced with first time buyers should be able to help you and should be more communicative. BTW--do you only communicate via phone?
It will vary, depending upon location, but she may try to say that she is the procuring cause for any offer you make on that house and claim the entire commission.
I'm sorry but I have to ask - - what is your price range?
Admittedly, very low.
I am hoping to get a 2br house with no preferences for land for around $50k, which is not at all unreasonable in my area. I have communicated with the realtor on this, and could go up to around $70k, which should be more than I need.
The home I would like to put an offer in on is listed at $54.9, which I would not mind paying supposing the proper repairs were done to go RD. The necessary repairs were pointed out by the realtor and not an appraiser, so I can't vouch for their validity, but are simply patching some holes in the drywall in one room and finishing the walls a room that had a fireplace taken out and boarded up.
Last edited by Rizi; 01-21-2014 at 03:49 PM..
Reason: add quote
I'd dump her. ask around for realtor recommendations. i wouldn't use one that a lender recommended unless locals near me also recommended them - but it doesn't sound like she's meeting your needs.
Any agent experienced with first time buyers should be able to help you and should be more communicative. BTW--do you only communicate via phone?
We have so far only communicated by phone and in person at the showing of the 2 homes. I would be open to text and email - should I tell her that straight?
I am mostly looking in the same county I already live in, which I believe could go RD in its entirety, so location is not a problem, but it seems she has more condition requirements than just insulation - see my other post for details on that.
Last edited by Rizi; 01-21-2014 at 03:53 PM..
Reason: i accidentally a word
Hi everybody - I'm hoping to get some good advice.
My husband and I have been improving our credit and are finally able to (on paper) get a USDA RD loan. We spoke to our bank and I believe we are pre-approved for this loan (though it could just be pre-qualified; please let me know if the difference matters.)
My lender referred me to a realtor she knows personally who is supposed to be quite good at RD - I heard that RD loans can be difficult if the realtor and lender don't work together well, so I allowed the realtor to call me, which she did immediately.
We discussed what I was looking for in a home, my budget, time frame, etc. She said she would call me back after the weekend with some places to look at. This was at the beginning of January.
She didn't call back. I ended up calling her near the end of the next week, and we were able to look at two houses that weekend. I wasn't sure and wanted to look at some more homes in my price range if she were able to find some. She said she'd call me after the weekend. She did not call.
I tried unsuccessfully to call her various times that week (Husband and I had discussed one of the homes - I wanted to know the next steps and move forward with buying it.) I finally called the office last Friday, was told I'd receive a call back in a few minutes, then hours later called again and got through. She said she'd contact the bank (it is a foreclosure that requires some minor work to qualify for RD, she needs to know if they will consider doing work or will only sell as-is) first thing Monday morning and call me back.
Monday was a holiday, so I wasn't surprised at no call, but this afternoon I didn't get through and left a message. I feel forgotten and unimportant and like I should get a new Realtor, but like this might strain the buying process if the realtor is not familiar with RD or the lender.
Also the realtor I have been using has only shown me properties listed by her company ... she is the listing agent for the property I'm interested in, so if I switch agents, will buying that property still be an option?
Just how hard should I push for communication before I move on? Am I expecting this to move unreasonably quickly?
Advice appreciated
---------"has only shown me listings listed by her company "......
I, also, ran into that with a realtor I first dealt with.
Despite giving advance notice of when I would be in his area ( I was from out of state ) , making an appointment, being assured that............."I can show you any house in the area MLS"........, giving him a list of 6 houses......................he only showed the 3 listings his company had and gave excuses on the other 3 as to why he wouldn't show them.
The funny thing is that when I posted my experience, most of the realtors who post here denied that happens in the business
Sounds like you got a dud of an agent. Dump her butt -- if she can't stay organized enough to follow through on some fairly basic real estate information, then she's not the agent for you. It could possibly be the price point -- she may have done the math and decided that it wasn't worth $1800, minus brokerage fees, in commission. In which case, she's thoughtless if she doesn't just refer you to another agent who does RD and snag a referral fee. Find another agent -- this isn't rocket science, any reasonably intelligent agent can figure out RD if they educate themselves.
We have so far only communicated by phone and in person at the showing of the 2 homes. I would be open to text and email - should I tell her that straight?
I am mostly looking in the same county I already live in, which I believe could go RD in its entirety, so location is not a problem, but it seems she has more condition requirements than just insulation - see my other post for details on that.
I understand that condition requirements go beyond insulation. That was one example. What I am trying to convey to you is that any agent can learn what those conditions are quickly and easily. A 30 second google search turns up the condition requirements. I've also found loan originators are happy to answer any question if one should arise. This agent is non-responsive. Move on to a different agent or not, but be prepared for continued non-communication. People that work well with first time buyers understand they have a lot of questions, anticipate and answer those questions and communicate often.
Actually as a buyer you should also be educating yourself on these conditions. The agent and lender should have told you about USDA maps at the very least.
And yes, tell the agent that you can communicate via text or email. She should have asked you your communication preference at your first meeting.
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Your price is OK for the market
