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Old 11-07-2018, 09:38 AM
 
Location: NC
1,804 posts, read 875,933 times
Reputation: 4237

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Quote:
Originally Posted by hunterseat View Post
Got a contract. Fingers crossed and praying.
Yay! Good luck!
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Old 11-09-2018, 04:14 PM
 
Location: planet earth
3,063 posts, read 1,060,891 times
Reputation: 6897
As a seller, what responsibility do you take? Did you review their offer and qualifications carefully? Did you ask for bank statements, talk to their lender, whatever? What was their proof of funds contained in the offer?

This should never happen.
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Old 11-09-2018, 10:02 PM
 
10,441 posts, read 7,537,961 times
Reputation: 18430
Quote:
Originally Posted by nobodysbusiness View Post
As a seller, what responsibility do you take? Did you review their offer and qualifications carefully? Did you ask for bank statements, talk to their lender, whatever? What was their proof of funds contained in the offer?

This should never happen.
I feel like a good agent ought to be covering those tasks. This second "contract" was sent back by my agent for correction and now we are told the "buyers" don't have the required down payment. *sigh*
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Old 11-09-2018, 10:10 PM
 
Location: planet earth
3,063 posts, read 1,060,891 times
Reputation: 6897
Quote:
Originally Posted by hunterseat View Post
I feel like a good agent ought to be covering those tasks. This second "contract" was sent back by my agent for correction and now we are told the "buyers" don't have the required down payment. *sigh*
Sounds like your agent is not too sharp, AND you have to be sharp as well. Obviously, the buyer has to be qualified and YOU have to review the qualifications.

YOU have to read the entire offer to examine the terms (your agent should recap it, but you should read it).

YOU should know contingencies and time periods for the contingencies to be removed.

YOU should read the financial terms very, very carefully.

YOU should review bank statements and other qualifying information. If YOU have any questions, YOU should call the buyer's lender and speak to them.

There is no excuse for shabby offers that fall out of escrow!

It is obvious what is a good offer and what isn't. It isn't just some random crap shoot.

YOU can have the buyers present the offer TO you with your agent present (so you can judge the buyer).
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Old 11-09-2018, 10:13 PM
 
Location: planet earth
3,063 posts, read 1,060,891 times
Reputation: 6897
P.S. When you said your house sold for five days, my response was going to be that it was underpriced.

A house should be on the market for at least two weeks to see how the market responds. In a really hot market, your agent can say when offers are due - and if it's a hot market, you will have multiple offers and the price will be driven up in the course of negotiating.

But then it turns out you have an unqualified buyer, so the five days meant nothing.
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Old Yesterday, 04:10 AM
 
Location: Cary, NC
31,693 posts, read 55,513,715 times
Reputation: 30271
Quote:
Originally Posted by nobodysbusiness View Post
P.S. When you said your house sold for five days, my response was going to be that it was underpriced.

A house should be on the market for at least two weeks to see how the market responds. In a really hot market, your agent can say when offers are due - and if it's a hot market, you will have multiple offers and the price will be driven up in the course of negotiating.

But then it turns out you have an unqualified buyer, so the five days meant nothing.

This is a bit of hogwash.
And, in that same vein: "Pigs get fat. Hogs get slaughtered."
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Old Yesterday, 10:19 AM
 
10,441 posts, read 7,537,961 times
Reputation: 18430
Nothing ever made it to escrow. I blame the buyers' agents. (It's happened twice)
CT is a strange place. My agent is competent and I have a partner in place who is savvy. I don't believe the majority of sellers demand bank statements from people making an offer. The norm would be the buyer's agent ensuring they're pre-qualified.
I'm on the opposite coast in a demanding, intense and awesome new job. This will all work out fine.
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Old Yesterday, 05:05 PM
 
5,506 posts, read 3,449,247 times
Reputation: 20733
Quote:
Originally Posted by nobodysbusiness View Post
P.S. When you said your house sold for five days, my response was going to be that it was underpriced.

A house should be on the market for at least two weeks to see how the market responds. In a really hot market, your agent can say when offers are due - and if it's a hot market, you will have multiple offers and the price will be driven up in the course of negotiating.

But then it turns out you have an unqualified buyer, so the five days meant nothing.

Why do you even bother this absurd lecturing? It's obvious you don't know what you're talking about.
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Old Yesterday, 05:40 PM
 
Location: planet earth
3,063 posts, read 1,060,891 times
Reputation: 6897
Quote:
Originally Posted by fluffythewondercat View Post
Why do you even bother this absurd lecturing? It's obvious you don't know what you're talking about.
"Absurd lecturing?" It's my opinion based on training and experience.

The seller's agent doesn't seem to be informing the seller of basic stuff.
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Old Yesterday, 05:41 PM
 
Location: planet earth
3,063 posts, read 1,060,891 times
Reputation: 6897
Quote:
Originally Posted by MikeJaquish View Post
This is a bit of hogwash.
And, in that same vein: "Pigs get fat. Hogs get slaughtered."
What about it is "hogwash?"

I love how "intelligent" people insult, but don't offer specific points of debate.
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