What happens when you break your own rules.... - Posted by CarolFL

Posted by CarolFL on August 15, 1999 at 11:36:56:

Ed, thanks for your comments.
Interestingly, it was not overlooked, but commented on and agreed to specifically … including the fact that we picked up “yard care” while in escrow, at the seller’s request and “in exchange” for access to do cosmetic, non-structural work … all spelled out in detail and in a hand written addendum!

The most interesting is that, termite, survey and appraisal are done and we have loan approval … it is a question of the various hoops of processing … no problems, no unexpected delays, title work is done, etc. The seller still has to remove some personal property - nothing has been done on that.

But we only have the broker’s input as to where the seller’s mind is - and that’s where we “lost control”!
It will be “all right”, but reminds us that we need to “mind our own business!”

(smile back)
PS Dennis is … guess where… Home Depot!!!

What happens when you break your own rules… - Posted by CarolFL

Posted by CarolFL on August 15, 1999 at 09:34:49:

about dealing with Realtors and presenting your own contracts …
We DO work with local Realtors, and there are several who have been helpful and cooperative.

However, we generally like to reserve the right to present our own contracts, and deal with the sellers.

This summer we let a very experienced broker get past us on that one.
We now have an irrate seller (who thought the contract was “date certain” as did the Broker … not having paid attention to the Addendum, which said “on or about”.)

Had we been in contact with the seller, we would have KNOWN he was antsy to close, we would have KNOWN he didn’t really want us to do any work on the place before closing (a request we made to the broker, and a clause which ended up in the addendum allowing us to do so), and we could have easily closed within the time frame in question.

Because we did not know, and because the broker did not tell us, we now have an unhappy situation.

It reminds us to go back to our “rules” and stick to them.

Carol and Dennis

Re: What happens when you break your own rules… - Posted by Ed Garcia

Posted by Ed Garcia on August 15, 1999 at 11:25:18:


Weather you presented your own contract or not, you should been on
top of the deal. The one thing we teach is to know the motivation of
the seller. I think it to be common sense that sellers are aware of closing
dates and that?s why we have them. It?s obvious that sellers have their
agenda?s as well as we do ours.

Although I agree with you that if you can circumvent the Realtor and
deal directly with the seller it is cleaner communication, in not being
able to do so , I would have been in contact with my broker for constant
up dates. NO WAY would I have started work on a property that wasn?t
mine with out having written approval and understanding of the seller.

I know you mentioned it was in the addendum, but that?s not good
enough. If the seller missed it in the addendum, they would think you
were trying to pull one over on them. I know I as a seller would not
want anyone to touch my property until I at least see written LOAN
APPROVAL. I also would want to make sure that the potential buyer
would protect me in the event the subs they use put a lien on the property, and then the buyer can?t close.

When going through others such as Real-estate brokers, it makes
communication that much harder. In many cases there are double brokers
one for the seller and one for the buyer, so we have to constantly double
check to make sure that were on the (same sheet of music).

One more thing, tell Dennis I said hi?..


Ed Garcia

Re: What happens when you break your own rules… - Posted by phil fernandez

Posted by phil fernandez on August 15, 1999 at 11:13:04:

Hi Carol,

Sounds like the realtor didn’t do a very thorough job of going over the contract and addendum with the seller. But the seller did sign the contract. The seller should have read it. He would then realize that the closing date wasn’t set in cement and that he did agree to let you and Dennis do work prior to closing.

The blame here lies with the seller’s realtor and the seller himself.

you get to spank yourselves :slight_smile: nt - Posted by Laure

Posted by Laure on August 15, 1999 at 10:15:15: