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I don't know about the warranty--our agent has not said a word about that, can you fill me in? (You know this home is 90 years old, right?)
Basically, a home warranty is an insurance policy, usually for 1 year (renewable), for items in the house that may break down (water heater, furnance, A/C, plumbing, etc). Covers repair costs and/or replacement as needed. You have to use their service people, and pay a trip charge, usually around $50-$70. Some people think it's worth it and others don't. Policy runs $300-$500 or so depending on size of house and policy options. Our contract has a section to specify if the buyer or seller will pay the warranty cost, or if the buyer declines a warranty.
...except because they were just willing to spend $650 on our concerns. How common is that?
Very. Lots of sellers would be ecstatic to get away with only $650.
...Two independent times now she has shut me down for walk-through requests (once after the big inspection, and again this week before signing). I really have no idea what her reasoning is, at all, other than to block me from doing anything that would block me from closing ASAP?
Have no idea what her reasoning was. As I said before, I don't agree with it.
In any case, it bothers me more that we are signing 3-4 days ahead of closing...
This is standard in most states that work with title companies and not attorneys. Allows time for the loan to fund so the deed can be recorded by the day of closing. Recording is when you take ownership.
Hmm, I will look into the warranty, but looks like it would have had to be in the contract originally in order to get it? Also, with my dad able to fix most things, we wouldn't have to pay for trip costs, so it might end up being cheaper... but I will look into it.
So sellers would be happy to get away with $650, even if the buyers had no leverage? Seems a bit strange. The way my agent was putting it, we should only request $50 or less on the repairs because otherwise they would refuse. Glad we ignored her advice and that the sellers were very reasonable people.
Thanks for explaining the difference between signing and closing--that's the clearest answer I've gotten so far.
Hmm, I will look into the warranty, but looks like it would have had to be in the contract originally in order to get it?
No, does not need to be in the contract unless you negotiate for the seller to buy it. There are a number of home warranty companies that would be happy to sell you a policy. Your agent should be able to assist.
So sellers would be happy to get away with $650, even if the buyers had no leverage? Seems a bit strange. The way my agent was putting it, we should only request $50 or less on the repairs because otherwise they would refuse. Glad we ignored her advice and that the sellers were very reasonable people.
I'm glad too. It never hurts to ask for repairs you feel are important. The worst that can happen is they say no, then you an decide if moving forward is worth it.
Thanks for explaining the difference between signing and closing--that's the clearest answer I've gotten so far.
I am by NO MEANS a real estate professional, but I see lots of red flags here....your agent not wanting you to ask for repairs and also not allowing a walkthrough the morning of closing being the big ones.
I am currently a seller and would be THRILLED to only have $650 in repairs for my buyer (my home is not even 5 years old). As of right now, I'm looking at at least $1000 or more in repairs for a few cracks in the foundation (which is completely legitimate), but my buyer also wants a sticky window lock fixed and a toilet "looked at" by a plumber. I have been through this process before, and I know this is just part of the game. In today's market, any seller will address the buyer's inspection concerns just because it's an ugly market. (And also because it's part of the contract....).
Why do you have no leverage to ask for repairs? Are you outside of the inspection period?
The home warranty does not have to be part of the contract. Our buyer's initial offer had it in the contract, but we rejected it. He has decided to buy one on his own, outside of the contract. Any homeowner can buy a warranty at any time.
Can you talk to your agent's broker about your concerns?
kas141, thanks for the vote of confidence. (And rjrcm, too.) We had no leverage to ask for repairs because there were two other offers, with one offer being VERY eager to raise the ante if we stepped back whatsoever.
So after reading more of your posts here and talking with friends in other states who had bought houses, my husband and I came to a consensus to go ahead and push for the walk-through since escrow was still lagging with the final signing appointment. My husband called our realtor, and she tried as hard as she could to make him feel terrible for asking to walk-through... WTF? She said that since I'd already given the green light earlier this week, it would "upset the sellers and we would be breaking bridges with them" because their place is a "disaster zone" with all the packing... but we can still do it if we ABSOLUTELY have to do it. REALLY?! Are you our agent or theirs, seriously?
It got very tense between her and my husband because she said "we should have done this earlier, not told her we were fine without it, since now she has to go back and disappoing the sellers." WHO CARES about the sellers and their packing disaster zone?! We're not there to judge them on their packing skills. I mean, they're nice and all, that's fine, but what kind of bridges is she so worried about us burning? We're about to slap down $440K for the first time in our lives, and we're buying their house--what other bridges are there? If they are the nice, accommodating people that they seem to have been throughout the process, why would they balk at our request to sell? I don't think our agent has even talked with the sellers--she was just trying to scare us into thinking we would "upset" them if we delay things.
I don't get it. We've got $20K earnest money down on this thing, we are NOT walking away from the house--we are not doing a walk-through in order to nitpick on the little things that bug us. We are looking for anything majorly wrong, like you guys have said here--flooded bathroom, pipe broken, whatever. And 99.9% chance there won't be anything wrong--so it goes! We sign the papers with total peace of mind, knowing we are doing exactly the right thing, and everyone's happy. They sold their house, they bought a new one, they're moved out by Monday, we get our keys, both agents get paid... what does this walk-through have to do with any of that? Gaaaaaah. Sorry, this whole process has been so draining, I just can't wrap my head around what our agent's issue is. She seems to have totally mixed up her sense of boundaries and who she is representing the interests of... clearly, she needs more experience or some kind of lesson taught to her.
So we're doing the walk-through tonight, but talk about a ball-breaker to get to that point... I can't believe that the #1 person who is a problem in this whole situation is our OWN realtor. Not the sellers, not their agent, not the mortgage broker, but our REALTOR. Unreal.
Thank you, rjrcm... it was due mostly to yours and a few others' posts here that we persisted, though really my husband is better at playing bad cop in the situation since my agent and I have a history and knew each other before (I'm never hiring a friend to do business again, simply on principle--I should have known better, but we really didn't see any other options at the time).
I still don't understand her fear of "breaking bridges" with the sellers. What about the bridge she's supposed to have with us, as my husband pointed out? Really?... apparently she thinks she can live without our referrals in the future, as we know a lot of people who will be buying houses in Seattle in the next 10 years. Whoops on her part.
kas141 mentioned talking with her broker about these issues... is that really the way to go? Is there any way we can tell her about our dissatisfaction, or should we just let it go and just be glad we are closing on our house, and never work with her again?
I'm late to this thread, I apologize. In Maine, the standard Purchase and Sale Agreement says, "Buyer shall have the right to view the property within 24 hours of closing." The sellers are expecting it, their agent has advised them it's coming and it's absoluting necessary. Last year I closed on a house where the movers did some minor damage to a closet door, which we pointed out. I discussed filing a claim with the movers, the buyers didn't think it was a big deal and we dropped it, but as their advocate in the process I had to give them all of their options and then let them decide. Is your agent new or part time? You mentioned the other agent is in the same firm, perhaps your agent is afraid of "ruffling feathers" within the company. The listing agent has counseled the sellers to expect your demands for repairs considering their house is 90 years old. I'm not on the scene, but it would appear that the sellers have better representation than you do. As far as feedback goes, my company sends out e mail to all of my buyers and sellers after closing and those who return them are shared by my management. If you are working with a small firm or don't get the opportunity, you should voice your concerns with the Designated or Managing Broker, not only will it make you feel better, but perhaps your agent can get some needed coaching on how to better advocate for her buyer clients. Good luck with the walk through and closing.
kas141 mentioned talking with her broker about these issues... is that really the way to go? Is there any way we can tell her about our dissatisfaction, or should we just let it go and just be glad we are closing on our house, and never work with her again?
It's totally up to you, but it is an option if she's p***ed you off enough. If it were me (having been through this before), I sure as heck would have been in touch with someone. Your agent is working for you, and should be doing everything in her power to make sure you are satisfied (within reason of course). ESPECIALLY when it comes to something as basic as a walkthrough. But again, sometimes it is just easier to let it go and chalk it off to a learning experience.
I saw your other post about writing the sellers a letter. Honestly, I would skip it (giving you my opinion as a seller here). It really won't make a difference to anybody, and real estate transactions can get to be emotional for both parties at points. They really haven't done anything that isn't normally expected of sellers. I saw where you mentioned the repairs with invoices and photos - this is often times standard. I literally just met with my agent an hour ago to go over some inspection issues, and the report stated that I have to submit invoices and they either need photos or a visual inspection of the repairs. So it really isn't a big deal.
Isn't this a crazy learning experience?? You'll be so happy when you're settled in your new home! And good for you for standing up and demanding the walkthrough from your agent! (The sellers REALLY won't care - trust me!)
Is your agent new or part time? You mentioned the other agent is in the same firm, perhaps your agent is afraid of "ruffling feathers" within the company.
She's not new, but as far as I can tell, she's part time (SAHM, has had to take her kid to showings sometimes). What would be the consequences of her ruffling feathers within the company?... not even at her same brokerage, either. I thought agents were independent contractors, so what effect would this really have on her?
Quote:
Originally Posted by WhoFanMe
it would appear that the sellers have better representation than you do.
I figured that out as soon as I met their agent--he was excellent, very professional, gave off a very fair and confident vibe (and we have met a lot of agents along the way)... we will be looking to him first, when we go to sell the house many years from now.
Quote:
Originally Posted by kas141
I saw your other post about writing the sellers a letter. Honestly, I would skip it (giving you my opinion as a seller here). It really won't make a difference to anybody, and real estate transactions can get to be emotional for both parties at points. They really haven't done anything that isn't normally expected of sellers. I saw where you mentioned the repairs with invoices and photos - this is often times standard. I literally just met with my agent an hour ago to go over some inspection issues, and the report stated that I have to submit invoices and they either need photos or a visual inspection of the repairs. So it really isn't a big deal. Isn't this a crazy learning experience?? You'll be so happy when you're settled in your new home! And good for you for standing up and demanding the walkthrough from your agent! (The sellers REALLY won't care - trust me!)
I wrote them a brief note, through our agents (forwarding e-mails) just thanking them for the chance to see the house again, and basically just smoothed their feathers just in case they were ruffled (which I agree, they probably don't care, but certainly doesn't hurt right?). Our agent should have done that for us, but I don't trust her to do anything right at the moment.
It IS a crazy learning experience. About ready to go get my own damn license pretty soon here, if this keeps up... hahaha.
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If it were me (having been through this before), I sure as heck would have been in touch with someone. Your agent is working for you, and should be doing everything in her power to make sure you are satisfied (within reason of course). ESPECIALLY when it comes to something as basic as a walkthrough. But again, sometimes it is just easier to let it go and chalk it off to a learning experience.
