Does this sound true? (Kinda Long) - Posted by Les

Posted by phil fernandez on November 19, 2000 at 18:51:10:

Realtors are certainly a slippery breed. My response to your seller would be, if the realtor couldn’t sell it during the past six months ( I know you didn’t state the time of the listing), what makes you think that he can preform in the next ten days."

I’d tell the seller that a bird in the hand is worth more than the realtors hollow promises and that you will be moving on to other deals in the meantime.

I guess it would depend on how much equity you think you could pick up if the seller came back to you on Nov. 27th.

Does this sound true? (Kinda Long) - Posted by Les

Posted by Les on November 19, 2000 at 18:28:12:

I had a seller call me (very motivated) to sell her house to me subject to. She had it listed with a realtor and said that the listing would expire on 11/17/2000. It had expired approx 30 days prior and she had granted this realtor a 30 day extension. I told her I was interested and explained the subject to deal to her. She was so relieved when she knew that I would be able to take the burden off her shoulders by taking over this loan as well as the 1 month back payment.

I had sent her all of the paperwork (postdated to reflect the 11/18/2000 date). She lives out of state by the way (I failed to mention that earlier) She got all of the paperwork notorized and signed by her and her husband. She had emailed me on 11/15/2000 stating that she had sent the paperwork to her mother who lives in the same neighborhood as the house she is selling. (Just wanted Mom to meet who is buying the house since she never met me in person I suppose). Anyway, on 11/17/2000 she sends me another e mail. Here is what it said.

Please tell me if this sounds legit or is it the fancy footwork of this realtor to buy some more time to sell.


Things have been changing hourly on the house. Steve has a lady who is going
to buy it, he thinks, but he hasn’t been able to get together with her
because she works for the stock exchange on the floor everyday and is a
single mother on top of having that kind of job. She has met with the loan
specialist and he says she qualifies, etc. but need to work out the
paperwork. I told Steve we needed signed papers this weekend but because he
needs to legally still be representing us, Mike said to extend the reality
contract to the 27th of November. I realize this messes up the paperwork and
inconveniences you, but feel for our sake that if this lady comes through we
would be so much better off not having the house still on our credit report
because our son is going into college in January and we need to be able to
qualify to help him. However, if this falls through then we are still

Keep in mind this house is listed for $167,000.00 and this single mother with kids who works for the stock exchange which is on the other side of the country is the subject buyer!

It just don’t sound right to me. What do you think?

Thanks for the opinions


Re: Does this sound true? (Kinda Long) - Posted by dewCO

Posted by dewCO on November 20, 2000 at 21:54:55:

Could be real, could be a story. You’ll know 11/27, hopefully.

Re: Does this sound true? (Kinda Long) - Posted by Bill Scott

Posted by Bill Scott on November 20, 2000 at 07:00:24:

Les, have this seller give the realtor a NON-exclusive listing covering just this particular buyer that he has. No, I don’t think he really has one because if she has time to jump through the hoops of a loan application she can surely find time to fill out a contract along the way. Anyway, suggest a NON-exclusive listing and see what happens.

Re: Does this sound true? (Kinda Long) - Posted by Tom

Posted by Tom on November 19, 2000 at 21:36:26:

True or not it kills your deal, I guess you will find out in a few days. It doesn’t seem like you have much else to lose, just wait and see.

Re: Does this sound true? (Kinda Long) - Posted by Ed Copp (OH)

Posted by Ed Copp (OH) on November 19, 2000 at 19:08:56:


Sounds to me like YOU tried to circumvent the realtor, and the seller in her infinate wisdom ran YOUR postdated deal by the realtor.

The rest is history (as is your deal), better luck next time.

What goes around, comes around.