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Old 04-20-2010, 01:31 PM
 
Location: Fuquay Varina
5,912 posts, read 8,217,972 times
Reputation: 16438

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I think you are adding your own drama here. Why have you not already picked up the phone today and called the seller and gotten this straightened out? no one here can give you a magic answer if you are waiting on one. Call, find out, eliminate the BS between you and the seller and buy the house.
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Old 04-20-2010, 03:22 PM
 
Location: Columbia, SC
10,217 posts, read 19,963,651 times
Reputation: 9025
I don't think you understand all the details. Sit down with your agent and get the situation. You've said they want to apply with their lender and that they insist you use their lender. Is it possible they just want you to pre-approve with their lender to make sure you're a solid buyer? It's good business before a seller commits 4 months to a buyer and loses other potential buyers to ensure you a highly qualified buyer willing to hang in there.

So before you blow everything up (and don't call seller direct-especially on a short sale, to much emotion there), get the details straight. I'm reading some conflicting comments from you. Ask if they want you to use or just pre-approve and why, and give them the extension in writing. Has the bank even approved anything on your offer?
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Old 04-20-2010, 08:44 PM
 
Location: Lady Lake, Fl USA
111 posts, read 237,078 times
Reputation: 60
Default This is a lost cause . . . .

Quote:
Originally Posted by Brandon Hoffman View Post
I don't think you understand all the details. Sit down with your agent and get the situation. You've said they want to apply with their lender and that they insist you use their lender. Is it possible they just want you to pre-approve with their lender to make sure you're a solid buyer? It's good business before a seller commits 4 months to a buyer and loses other potential buyers to ensure you a highly qualified buyer willing to hang in there.

So before you blow everything up (and don't call seller direct-especially on a short sale, to much emotion there), get the details straight. I'm reading some conflicting comments from you. Ask if they want you to use or just pre-approve and why, and give them the extension in writing. Has the bank even approved anything on your offer?
I think our advice and suggestions are falling on 'deaf ears'! My earlier posts were similar, "You have to take charge and make the calls". But, still no ACTION on her part - just more complaints about her 'professionals' . . . .
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Old 04-21-2010, 10:28 AM
 
Location: Barrington
60,359 posts, read 41,262,301 times
Reputation: 19464
Quote:
Originally Posted by Brandon Hoffman View Post
I don't think you understand all the details. Sit down with your agent and get the situation. You've said they want to apply with their lender and that they insist you use their lender. Is it possible they just want you to pre-approve with their lender to make sure you're a solid buyer? It's good business before a seller commits 4 months to a buyer and loses other potential buyers to ensure you a highly qualified buyer willing to hang in there.

So before you blow everything up (and don't call seller direct-especially on a short sale, to much emotion there), get the details straight. I'm reading some conflicting comments from you. Ask if they want you to use or just pre-approve and why, and give them the extension in writing. Has the bank even approved anything on your offer?
I see many short sales and REO listings in my MLS making it clear that buyers must be pre-approved by a specific lender or use a specific lender to qualify for some incentive.

Of those that I have some familiarity with, these requirements are imposed by the banks or asset managers who are conducting business for the banks. It has nothing to do with the listing broker/agent.
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Old 04-21-2010, 02:01 PM
 
Location: Palm Coast, Fl
2,249 posts, read 8,483,205 times
Reputation: 1006
Quote:
The problem is I wont be able to meet the commitment deadline in the contract unless the seller's side agrees to grant an extension. My agent is part of the problem. Inexperience and eager to please the colleagues (i.e. other RE agents). My agent also keeps claiming "it's my first short sale" as an excuse to not be able to give me any helpful information... Should I get my contract/closing attorney involved?
Answer: Yes, you should have your attorney get involved and have them handle the issue regarding a committment deadline. Since this is a short sale I'm not understanding why there is a committment deadline issue if the sellers bank hasn't even accepted the short sale and you haven't been provided a letter stating such. So, yes, this is a contractural issue and you should have your attorney looking into it.
As for your inexperienced agent? Call the broker, explain the situation and ask for assistance in closing the deal from here on in. The broker should be training and guiding the agent.
I also completely disagree with the advise that you should go around everyone and call the seller yourself. You have an attorney. Use them. That's what they are there for.
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