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We were not uncertain about buying the property or else we wouldn't have signed the contract and what we thought were all the necessary documents. Questions we had were regarding why they decided to change the seller name on the contract (esp only after we had signed the contract - wouldn't they have known this sooner?), why did they "forget" to send us a document we need to sign after we had signed the contract, and why the sprinkler system is turned on for only a few minutes a day in the hot, humid TX summer (it was apparently turned it off a few weeks ago and we had asked them to turn it back on - the grass was dying so much the next door neighbor felt bad enough to start dragging his hose/sprinklers to water the lawn). We don't have experience buying through a relocation company so naturally we had questions but it doesn't seem our agent had experience with them either.
Also, after we signed the contract our agent tells us over the phone "FYI, they are going to change the seller's name (from owner to relo company) and cross it out". I felt uncomfortable with that and had to ask that we initial/date any changes after we signed. I don't think a good agent would let the seller do that w/o our written acceptance.
Last edited by janetreb; 06-22-2009 at 05:53 PM..
Reason: Added more info.
In a nutshell-
When our home in FL sold thru relo back in 07, our initial contract was between us and buyer. Once relo examined it to make as sure as possilbe the buyer was solid, relo 'bought' the house from us, and then a 'new' contract was made, same terms, etc. between the relo company and the buyer. And as memory serves, there may have been some add'l forms that needed signed by one or both parties.
Any and all 'changes' should be initialed by the parties. But, it's not unusual for a contract to be changed to the relo company and for the relo company to have additional forms.
If you back out of the contract and then come back later there are two things that may come into play... 1. why would they think that you would close this time 2. it's very likely the listing agent will call the agent you first came in with and tell her. And ask her what she would like to do about it.
You are looking to put two agencies into a procuring cause situation (which, perhaps you don't care), for what reason? And I don't know about Texas but here in Florida, we're on county and water district about when we can and can't run the sprinkers.
Questions we had were regarding why they decided to change the seller name on the contract (esp only after we had signed the contract - wouldn't they have known this sooner?), why did they "forget" to send us a document we need to sign after we had signed the contract, and why the sprinkler system is turned on for only a few minutes a day in the hot, humid TX summer .....
We don't have experience buying through a relocation company so naturally we had questions but it doesn't seem our agent had experience with them either.
Also, after we signed the contract our agent tells us over the phone "FYI, they are going to change the seller's name (from owner to relo company) and cross it out". I felt uncomfortable with that and had to ask that we initial/date any changes after we signed. I don't think a good agent would let the seller do that w/o our written acceptance.
It sounds like the listing agent may not have much experience with relocations, or perhaps this particular relocation company, either.
It's the listing agent's job to program the sprinklers so the grass does not die. She did not do so without the obvious consequences being brought to her attention. Or it's possible the relo company asked that water be conserved because it increases their carrying costs.
Most agents in my area write OOR ( owner of record) for the seller's name and avoid the whole issue of specific names. Sometimes the seller's attorny ammends it with specific names. Sometimes, not.
Maybe the listing agent forgot a form. Or maybe the relocation company pulled a new form out of their hat.
Chances are, you will never know the real reason why and none of it matters.
It's very typical when a relo company is involved to have to redo the entire contract and change names. In most cases the relo company takes title to the property when an offer is accepted by the relocating employee. There is no mistake, the ownership thus the name of the seller has to be changed and a new contract has to be drawn up. It's a bit of a pain for the agents and yes, for you because you will need to sign everything again. But there's really no way around it.
Sure if you fire your buyer's agent, he/she may not get a commission but do not assume you will get a reward. There are many drawbacks of serving as listing agent of for a "relo company" property. But the upside is they pay full commission - no problem. So, if you cut out your buyer's agent the listing agent's office will receive the full commission. Cool deal for them. At least until and if your former buyer's agent files a dispute.
If you want this house, I would just accept that sometimes relo companies have no interest in answering questions. They are interested in selling the property.
I had a deal with a relo company - where they sent their "stupid" addendum that "must be signed before closing" two weeks after closing.
I said you must be kidding. They said they would put a stop payment on my commission check. What a joke! Luckily someone put a stop to that nonsense.
The reality is you stand to loose the home to another. It takes only one offer better to beat you. walking away from a contract may provide some reservations with the relo co. about ever entering into an agreement with you. I would say bear it out and get it over with that is the safest way to assure you will get this house. If the agent has been the procuring cause then she is entitled to be compensated.
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