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Why don't you find a good buyers' agent to help you? An agent would cover all the necessary and recommended contract terms, and be sure that you get all the appropriate disclosures and documents.
Good job HappyNewMe.
Although a buyers agent is technically on your side, they dont want the deal to fall through..... so your kinda on your own to make sure these things get requested.
A buyers agent wants the deal to close, they are not going to look for reasons why it shouldn't. They dont get paid til it closes.
How long have you been working with this agent? Did you sign an exclusive buyer agreement? I'd seriously reconsider and speak with a few other agents IF you can. You really shouldn't have to put yourself through all this. A good buyer's agent should walk you through the whole process and tell you what is going to happen step by step. It will take all the guessing out because theres no way you can know everything.
Consider an attorney to review the contract and make sure you are not being duped in any way. It was worth it to me to feel comfortable and not edgy about home purchase.
Good luck
Quote:
Originally Posted by 399083453
Good job HappyNewMe.
Although a buyers agent is technically on your side, they dont want the deal to fall through..... so your kinda on your own to make sure these things get requested.
A buyers agent wants the deal to close, they are not going to look for reasons why it shouldn't. They dont get paid til it closes.
She also had just changed brokerages... is that a red flag?
Not necessarily a "red flag". Realtors change companies all the time.
One thing to consider is that your Agency Agreement may be with the company and not this Agent so you may have a chance to get another agent.
If she is on her second company, I wonder if she is inexperienced or just lazy?
Another poster mentioned finding an attorney but in NC, our Offer to Purchase And Contract is all fill in the blanks. It doesn't sound like this OP needs an attorney but someone to help him along the way.
I'd email your Realtor, tell her that you need help and ask her to gather those documents for you. Ask her what else you should be doing. If she won't help, which IS her job, tell her you will need to contact her broker in charge, as you need help.
I'd contact the broker in charge with the original company FIRST and see what she suggests.
Resale certificates are not usually available until closing. Your concern at this point is who pays for it if the HOA charges a fee (and they do b/c its a money-maker for them).
Before the offer you should see the property disclosure and you can ask to see the prior 12 months of utility bills. That is not something commonly required but go ahead and ask.
You can make the offer based on being able to end deal in 24 hours after receiving copy of HOA convenants, conditions & restrictions and financial statements -- and must be provided (w/i 24 hours of contract) and acceptable to you (because you usually do not get a copy of them until after you have a contract) and you can also make the offer based on no pending or expiring unfunded special assessments. That way if there is a special assessment coming up your seller may be able to offer to pay for it.
How would you write this on offer? Do you list this under other section in the offer?
Seller to provide HOA covenants, conditions & restrictions and financial statements within 48 hours of contract. Buyer to have a 48 hour contingency after receiving a copy of HOA covenants, conditions & restrictions and financial statements and HOA documents to be acceptable to buyer. Offer based on no pending or expiring unfunded special assessments.
OP hasn't said what state (at least I don't see it). Processes are highly dependent on state. Some states have an inspection period during which you can bail for any reason at all; others don't. Some REQUIRE HOA documents to be delivered, some don't. You need to know about local processes before even thinking about writing an offer.
In any case- it appears that the agent is the problem here. He (she) should at least know the "usual" way of doing things and should explain it clearly.
I would advise OP to NOT make an offer in this situation UNLESS he is in an "inspection period" state that allows him time to research details before he becomes fully committed.
The last 2 times I bought a condo I phoned the property management office and just asked them several questions about the property --- about crime, maintenance, rules, % owner/occupants, pending assessments, etc. They were very nice.
That's a great tip, if the office staff are mean or uncooperative you know there will be problems when you live there and when you go to sell.
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