[lv_spiff]

I gotta story to tell as I am just at the end of my rope here. I've been trying to purchase an REO Fannie Mae owned home here in Vegas for the last month and a half - made my first offer in mid June. I have an 800 credit score, 20% down, pre-approval - I was literally my lenders dream client. I found a house my fiancee and I fell in love with. It started off well.

My agent and lender were awesome but shortly after the offer did things start to become sketchy from the other side of the equation. The seller would request that I have docs back immediately or the deal would be off and then would take 3-4 days to return anything to me. The HOA docs were in the contract to be delivered within a certain time span and even though he received them well within it he didn't send to me until 15 days after he received them (based on the tracking information he left on the envelope).

The next battle was the appraisal - someone had broken into the house and was causing a safety issue so would require a repair. It was only a 1 day sort of repair something that wouldn't take more than a couple of hours. I even got quotes as part of my inspection just incase I had to fix it and the guy was ready to start the next day. Seller agreed to fix but instead of getting it done right they hired the cheapest crew that took 3 weeks to get things STARTED and did a half assed job not even matching the paint - but the seller says 'its done'. and the appraiser agrees its 'fixed'.

During all this time I've locked in my loan - gotten everything taken care of - I'm ready to go to close if they just would get repairs done thinking it wouldn't take 3 weeks. Finally this week did they complete things but then once again they cheap out and use some dumbass in CA as a settlement agent. They get the paperwork wrong, send out a total ***** of a mobile notary who insults me, my lender, my Realtor, her boss, and my fiance with an attitude like she knows it all the whole time. Do they fix the papers today? yeah they try but once again get things wrong. Oh and me being the diligent buyer locked in my loan thinking a repair that takes a day wouldn't take 3 weeks. The lock expires tomorrow.

Is there any way as the buyer to file anything like a BBB complaint against the selling agent? the settlement company? etc? I'm not sure what it would do but need more ways to vent. I'm shocked at how bad things have gone when i hear REOs are the easiest ones out here to purchase. It seems like at every turn this sellers agent cheeped out, cut corners, used uneducated morons, and did everything they could to screw me out of a few $$$ and now left me in a spot where not only do I not have a house, I could potentially loose a great rate, loose a ton more money, and everyone on my side is feeling defeated, frustrated, insulted, and disgusted.

[pommysmommy]

Send a DM to olecapt.

[eventusstultorummagister]

Dr. Gonzo: Don't tell me these things. Not now man!

[dynimagelv]

all sounds kinda normal to me

[Tagalog]

Originally Posted by lv_spiff

I gotta story to tell as I am just at the end of my rope here. I've been trying to purchase an REO Fannie Mae owned home here in Vegas for the last month and a half - made my first offer in mid June. I have an 800 credit score, 20% down, pre-approval - I was literally my lenders dream client. I found a house my fiancee and I fell in love with. It started off well.

My agent and lender were awesome but shortly after the offer did things start to become sketchy from the other side of the equation. The seller would request that I have docs back immediately or the deal would be off and then would take 3-4 days to return anything to me. The HOA docs were in the contract to be delivered within a certain time span and even though he received them well within it he didn't send to me until 15 days after he received them (based on the tracking information he left on the envelope).

The next battle was the appraisal - someone had broken into the house and was causing a safety issue so would require a repair. It was only a 1 day sort of repair something that wouldn't take more than a couple of hours. I even got quotes as part of my inspection just incase I had to fix it and the guy was ready to start the next day. Seller agreed to fix but instead of getting it done right they hired the cheapest crew that took 3 weeks to get things STARTED and did a half assed job not even matching the paint - but the seller says 'its done'. and the appraiser agrees its 'fixed'.

During all this time I've locked in my loan - gotten everything taken care of - I'm ready to go to close if they just would get repairs done thinking it wouldn't take 3 weeks. Finally this week did they complete things but then once again they cheap out and use some dumbass in CA as a settlement agent. They get the paperwork wrong, send out a total ***** of a mobile notary who insults me, my lender, my Realtor, her boss, and my fiance with an attitude like she knows it all the whole time. Do they fix the papers today? yeah they try but once again get things wrong. Oh and me being the diligent buyer locked in my loan thinking a repair that takes a day wouldn't take 3 weeks. The lock expires tomorrow.

Is there any way as the buyer to file anything like a BBB complaint against the selling agent? the settlement company? etc? I'm not sure what it would do but need more ways to vent. I'm shocked at how bad things have gone when i hear REOs are the easiest ones out here to purchase. It seems like at every turn this sellers agent cheeped out, cut corners, used uneducated morons, and did everything they could to screw me out of a few $$$ and now left me in a spot where not only do I not have a house, I could potentially loose a great rate, loose a ton more money, and everyone on my side is feeling defeated, frustrated, insulted, and disgusted.

Welcome to Vegas where people/companies don't play fair.

[olecapt]

Originally Posted by lv_spiff

I gotta story to tell as I am just at the end of my rope here. I've been trying to purchase an REO Fannie Mae owned home here in Vegas for the last month and a half - made my first offer in mid June. I have an 800 credit score, 20% down, pre-approval - I was literally my lenders dream client. I found a house my fiancee and I fell in love with. It started off well.

My agent and lender were awesome but shortly after the offer did things start to become sketchy from the other side of the equation. The seller would request that I have docs back immediately or the deal would be off and then would take 3-4 days to return anything to me. The HOA docs were in the contract to be delivered within a certain time span and even though he received them well within it he didn't send to me until 15 days after he received them (based on the tracking information he left on the envelope).

The next battle was the appraisal - someone had broken into the house and was causing a safety issue so would require a repair. It was only a 1 day sort of repair something that wouldn't take more than a couple of hours. I even got quotes as part of my inspection just incase I had to fix it and the guy was ready to start the next day. Seller agreed to fix but instead of getting it done right they hired the cheapest crew that took 3 weeks to get things STARTED and did a half assed job not even matching the paint - but the seller says 'its done'. and the appraiser agrees its 'fixed'.

During all this time I've locked in my loan - gotten everything taken care of - I'm ready to go to close if they just would get repairs done thinking it wouldn't take 3 weeks. Finally this week did they complete things but then once again they cheap out and use some dumbass in CA as a settlement agent. They get the paperwork wrong, send out a total ***** of a mobile notary who insults me, my lender, my Realtor, her boss, and my fiance with an attitude like she knows it all the whole time. Do they fix the papers today? yeah they try but once again get things wrong. Oh and me being the diligent buyer locked in my loan thinking a repair that takes a day wouldn't take 3 weeks. The lock expires tomorrow.

Is there any way as the buyer to file anything like a BBB complaint against the selling agent? the settlement company? etc? I'm not sure what it would do but need more ways to vent. I'm shocked at how bad things have gone when i hear REOs are the easiest ones out here to purchase. It seems like at every turn this sellers agent cheeped out, cut corners, used uneducated morons, and did everything they could to screw me out of a few $$$ and now left me in a spot where not only do I not have a house, I could potentially loose a great rate, loose a ton more money, and everyone on my side is feeling defeated, frustrated, insulted, and disgusted.

Persevere. You actually did a little better than normal. Mostly given an appraisal discrepancy the answer is cancel the deal and relist as cash only.

These REO guys are volume houses. If the deal gets complicated they just forget about it.

The problem with a lot of it is that the complaint has to come from the injured party. When the agent does not give you the HOA docs it does not damage you...but it damages the seller. Unfortunately the seller could care less.

Extend your lock. It is generally not that expensive and often the mortgage broker will share in the cost.

Then fix whatever is not right. Generally cheap compared to the deal you get on the house.

[vtvette]

Originally Posted by pommysmommy

Send a DM to olecapt.

I agree 100%. We are working with Olecapt on our first home purchase in Vegas - from 2900 miles away. We have met him in person several times now. He is very knowledgable and professional through and through.

[macgeek]

I agree, RUN (don't walk) away from this deal, YOU HAVE THE CASH, YOU have the power
Don't let someone Else's craziness ruin your life.

(and god knows what they are hiding waiting till you own it to find out...)

Jonathan

[olecapt]

Originally Posted by macgeek

I agree, RUN (don't walk) away from this deal, YOU HAVE THE CASH, YOU have the power
Don't let someone Else's craziness ruin your life.

(and god knows what they are hiding waiting till you own it to find out...)

Jonathan

They don't know anything. The REO shops suffer from neglect and are often overloaded.

You don't walk away from a good deal because the other side is sloppy.

[macgeek]

that can be a $150,000 to $???,???,??? Mistake.

Can someone really afford that risk in today's climate?

Jonathan