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You can look at what is going on with you and see where a good agent earns their keep.
I know that a seller I represented would have a fully executed copy of the contract immediately after it was signed.
The buyers agent is representing the buyer and they knew by not getting you back a fully executed copy that it gave the buyer an easy out.
Thank you! Shame on her for lying to me and shame on me for believing her. The reason why I forgot that she never gave me a copy is 1. my brain doesn't work as well since my car accident and 2. I walked out of there with paper work but not the signed contract so I just plain forgot.
Hey, I'll live with it but is it my fault that I have yet another bad experience? Really? It's my fault? I'll tell you who is going to suffer, the Buyer, because she is missing out on a beautiful home with an updated roof, updated heating system, kitchen, newly refinished oak floors all in the first time home buyer's price range (at least for our area).
And what if they do the appraisal and decide they want the home?
You get another buyer to sign a contract and the original buyer can say they have a fully executed contract.
Can you prove that they don't?
Can you sell your house to 2 different people?
Not sure what you mean? Are you asking me the question? If they present the contract and do not forge the dates, you'll see they are in breach of contract because I don't have my earnest money. Is it possible for them to forge the dates??? I guess they could but I will not sit still for that!
Am I to just sit and not look for another buyer? Is that what you are saying?
There is always an excuse. The car accident, the dog ate my homework....
I do think they are not in tune with reality however, because in this market buyers are not missing out on anything. Inventory is still high no matter where you are in the country with plenty of homes for buyers to choose from. The only person missing out is the seller.
Quote:
Originally Posted by Mike Peterson
You keep saying you got out because of what you saw behind the scenes or unethical behavior but I see in your posts that you really do not know what all is involved in a real estate transaction.
Most contracts have a contingency allowing the earnest money to be deposited within 3 or 5 days of an executed contract.
I would suggest you send a letter to the buyers agent by certified mail stating the facts and that your counter offer which you presumably made which is why you dont have the signatures is now recinded just to cover yourself.
Moderator cut: offensive
Quote:
Originally Posted by FrozenAngel
Not sure what you mean? Are you asking me the question? If they present the contract and do not forge the dates, you'll see they are in breach of contract because I don't have my earnest money. Is it possible for them to forge the dates??? I guess they could but I will not sit still for that!
Am I to just sit and not look for another buyer? Is that what you are saying?
You keep saying you got out because of what you saw behind the scenes or unethical behavior but I see in your posts that you really do not know what all is involved in a real estate transaction.
Ok, if you say so, I guess I am lying about selling 2 houses in 2 months (it was closer to 3 so maybe I am lying). If it makes you feel good to think that .... that's your choice. What does this have to do with "Negotiating reator's fees"?
Most contracts have a contingency allowing the earnest money to be deposited within 3 or 5 days of an executed contract.
I would suggest you send a letter to the buyers agent by certified mail stating the facts and that your counter offer which you presumably made which is why you dont have the signatures is now recinded just to cover yourself.
No I am sorry, let me clarify. All the signatures were signed and dated on the P&S with a contracted price. The only thing that was needed was the Buyer's initials next to the exclusion of the refrigerator. The buyer's agent said she would give me a copy after she had the Buyer initial the refrigerator exclusion. The mistake I made was to believe that the Buyer's agent would in fact give me my copy. I should have insisted that I have a copy right then and there and that she could give me another copy after it had been initialed by the refrigerator. I didn't ask for this because it would have been insulting to the agent. It would have meant, I don't trust you so give me a copy of what I signed now.
Now I know not to care about a person's feelings and just take care of myself. Lesson, learned and stupid me for not remembering that she never did get me my copy. The buyer's agent never intended to give me the rest of the earnest money which is why at the home inspection, I asked the buyer where my earnest money is ..... she said the wrong amount of money. She didn't know what the amount was because they never intended to give it to me. The buyer's agent must be having a great laugh at my expense, huh?
And if that had been my agent, I would have my house sold for $304 instead of the $260. deal I have now. How many years could I put my daughter through college with that $44K? I am not getting from the realtor's feedback here that they would have reduced their commission to make the deal like your realtor so graciously did without being asked!!! Nice to hear there are good realtors out there. Just haven't experienced them myself.
Don't blame the Realtors for your mistake. Only one person was involved in turning down the offer -- YOU. You could have put your daughter through almost as much college with an extra $42K.
Quote:
Originally Posted by FrozenAngel
... After I relisted, the $304K buyer came back!!!!! WOW!!! So yes, this time, I didn't count on the agents to help the deal. We signed the offer but the agent didn't get any earnest money....
So what good are "con"tracts if they aren't enforced? ...
No earnest money = no contract -- nothing to enforce.
Quote:
Originally Posted by FrozenAngel
No I am sorry, let me clarify. All the signatures were signed and dated on the P&S with a contracted price. The only thing that was needed was the Buyer's initials next to the exclusion of the refrigerator....
I didn't ask for this because it would have been insulting to the agent. It would have meant, I don't trust you so give me a copy of what I signed now....
Ehhhh... again, no completed contract (INCLUDING buyer's initials) = no contract.
And it wouldn't have been insulting to ask for a copy of the contract. In most states you MUST be given a copy of any contract WHEN YOU SIGN IT.
Where the heck are you finding these real estate agents? 4% commission? I guess that agent had some idea of her value. If you're bargain hunting for cheap Realtors, you'll likely find those who charge more than what they're worth.
Nope, I learned a valuable lesson and I am too tainted to try and find that good realtor you speak of. This isn't the only bad experience I've had with bad realtors. I had my real estate license and got out when I saw the behind scenes/bad people. I've also seen family members and friends get taken. Bad people seem to gravitate to some professions more than other professions. I think they gravitate more to the real estate business because 1. you only have to take a weekend course and a test to get your license and 2. there is a tremendous amount of money to be made in the real estate business. In my opinion, you happen to be in a profession that a lot of bad people gravitate to. Sorry but I don't see why I need to apologize or even sympathize. You chose it.
Next deal, I'll be smarter, ready and I'll better watch my back.
I'm not going to say you had a bad agent. Your friend brought you a 304 contract that in hindsight was very good since your house is worth at 40k less now. You blew it because you got greedy over $1500.
There aren't a lot of bad people that stay in the business long term but there are a lot of people that get in, such as yourself, that get in thinking they'll get rich quick. When they figure out RE really isn't big money or get rich quick they get out, usually after having butchered a deal or 3. You were perhaps in that latter crowd.
I don't know if the current buyers agent is good or not. Going by your words they are bad and you're pretty smart. If that is the case you just got owned in RE as a smart FSBO by a bad professional. They got you to take your home off the market w/o a contract, thereby protecting their client and still giving the opportunity to purchase the house if they come up with a DP. It may have been luck, may have been intent but either way you were dominated.
Lesson to be learned, perhaps not by you since you are still confident in your ability, but by readers of this thread is:
1: Represented buyers/sellers tend to be better off
2: Do your research and hire knowledgeable honest professional.
I cant disagree with you because unfortunately there are alot of bad agents out there who do give good agents like me a bad reputation. But i think that the fact that you were an agent yourself and your making bad judgement calls yourself suggests to me that you were one of those bad agents.
I believe you are correct except "a lot" should be "a few"
Thank you! Shame on her for lying to me and shame on me for believing her. The reason why I forgot that she never gave me a copy is 1. my brain doesn't work as well since my car accident and 2. I walked out of there with paper work but not the signed contract so I just plain forgot.
Hey, I'll live with it but is it my fault that I have yet another bad experience? Really? It's my fault? I'll tell you who is going to suffer, the Buyer, because she is missing out on a beautiful home with an updated roof, updated heating system, kitchen, newly refinished oak floors all in the first time home buyer's price range (at least for our area).
Are we ready to get back on topic?
I don't see in any of your posts that you where lied to. It seems the bad experience is the the agent's knowledge vs. your inexperience led to you not asking for a ratified contract. You made a simple mistake that even a new agent probably would have avoided.
Secondly, you keep talking about the unethical business, can you cite some examples to support your claims?
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). If it makes you feel good to think that .... that's your choice. What does this have to do with "Negotiating reator's fees"?
