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It would help if we knew where he got the original amount to put in the contract. Was it a number your lender provided ? If so, what caused the higher amount ?
If you told him to hold the contract & not deliver with the old amount and he did, that's a bad thing by him. If he had already faxed / delivered the contract before you told him not too, that's just a bad timing issue
he pulled the amount out of his butt. He was told by my wife on the phone during faxing to hold off on sending it to the bank... He even said he didnt know what closing costs were when she asked him about it.. He was supposed to put in all closing costs no matter what they are are to be paid by seller. No one knows where he got is figure from not even him.
So he was faxing it over when you asked him to stop. Sounds like a grey area.
FWIW, what exactly do you mean when you say "no closing cost". There are many different costs associated with closing on a home. Some of these are "pre-paid" items which are part of the cost of buying a home but come out of your pocket before ever getting to the closing table.
I've never seen a contract written up or accepted that didn't have a specific amount on it. If a buyer agent writes in "seller to pay all buyer closing costs and prepaids" then the buyer could pay down points and all sorts of things. There is always a specific amount that is written in. I don't understand how the agent wrote up a contract and you signed it without you being aware of what that dollar amount is.
we told him to find out what the cost were he sent over the paper it got signed and while being faxed back to him he was on the phone with my wife.. who told him not to send it till we knew for sure what the amount was.. (this was because it was such a low number) he said ok i'll fix it with the right amount.. I thought he was hired because he knew these things
he went ahead and sent it to the bank didn't fix anything even after he was told it would be X amount more
we told him to find out what the cost were he sent over the paper it got signed and while being faxed back to him he was on the phone with my wife.. who told him not to send it till we knew for sure what the amount was.. (this was because it was such a low number) he said ok i'll fix it with the right amount.. I thought he was hired because he knew these things
he went ahead and sent it to the bank didn't fix anything even after he was told it would be X amount more
So he added in a low dollar amount and you signed it. Then you realized that the amount was too low so you asked to revoke the offer and rewrite it. The agent didn't revoke the offer, but proceeded to send the offer on?
First of all your agent can't just randomly change the terms of the contract without your initials to the change or an addendum. This whole situation is bizarre.
So it sounds like you need to start by talking with the principal broker who supervises the agent you are working with. That is the place to start with a complaint.
My wife knew what the dollar amount was on the contract and thought it was right just seemed low.. when she asked him about it she got a i dunno reply from him if it would be enough
So he added in a low dollar amount and you signed it. Then you realized that the amount was too low so you asked to revoke the offer and rewrite it. The agent didn't revoke the offer, but proceeded to send the offer on?
First of all your agent can't just randomly change the terms of the contract without your initials to the change or an addendum. This whole situation is bizarre.
So it sounds like you need to start by talking with the principal broker who supervises the agent you are working with. That is the place to start with a complaint.
This is our first time buying a home but yea you nailed it.. our loan officer even called him and told him it wouldn't be enough.. He said "I'll fix it" and never got back to us.. my wife called back to see what she had to do and this is when he told her he already sent it in
Have a meeting with the broker in charge and your Agent and get the situation fixed right away.
Vicki
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