Walked out of home purchase at closing rant

[Rastoff]

I can't imagine anyone obligating themselves for 30 years of monthly payments (or spending in excess of $100,000 in a cash transaction) that wouldn't have a real estate attorney look at the documents.

Really? There are thousands of homes sold every day that haven't had a real estate attorney look at the paperwork.

Edit: Just for my own edification, who in the OP's post are you calling stupid?

I didn't call anyone stupid. Read it again.

 

[Leonard]

I deal with realtors all of the time for close to 40 years, it is without a doubt one of the most unprofessional professions.

Dual agency was a joke in fact as a seller I never wanted a real estate agent to represent me and back when their was dual agency even though as seller I paid the commission, I insisted they represent the buyer. The simple reason for this is that they become your agent and you can be held responsible for representations they make.
An example of this are statements like "the adjoining property will never be built on".

As far as attorneys the closing agent at the title company is an attorney, they serve no real benefit in a normal real estate purchase, what you need is a professional home inspector.

An attorney will not know if a home is in good shape, but if you get screwed around by a seller a good attorney is invaluable. The attorney I work with forced 4 home by backs last year two of them were bought by the inspectors who failed to do a thorough job!

 

[Muss Muggins]

Really? There are thousands of homes sold every day that haven't had a real estate attorney look at the paperwork.

I didn't call anyone stupid. Read it again.

First point, you roll your way, I'll roll my way. Second point, see below

Why do we have to do this stupidity? See the OP.

You certainly call someone stupid here. If you read that post for content, you seemed to insinuate that the OP caused this stupidity . . .

 

[doublesharp]

First point, you roll your way, I'll roll my way. Second point, see below



You certainly call someone stupid here. If you read that post for content, you seemed to insinuate that the OP caused this stupidity . . .

Way I read it is Rastoff is calling the excessive paperwork stupidity.

In order to make an offer on a house here in CA, you have to sign about 5 pages of a contract. If there's any back-and-forth over the price, every step is with these same papers signed every time. We have to kill about 5 trees before we enter escrow.

Why do we have to do this stupidity? See the OP.

 

[Muss Muggins]

Way I read it is Rastoff is calling the excessive paperwork stupidity.

In order to make an offer on a house here in CA, you have to sign about 5 pages of a contract. If there's any back-and-forth over the price, every step is with these same papers signed every time. We have to kill about 5 trees before we enter escrow.

Why do we have to do this stupidity? See the OP.

Fair enough. Like I said earlier, I don't think obligating myself financially for 30 years is a good idea without my guy's advice . . .

 

[Rastoff]

First point, you roll your way, I'll roll my way.

I completely agree. Why would you think otherwise?

Way I read it is Rastoff is calling the excessive paperwork stupidity.

Yes, doublesharp got it.

 

[JSR III]

Quote:
Originally Posted by JSR III View Post
I beg to differ with you. When you hire and sign a contract with a buyers agent, that agent is obligated to protect your interests and to negotiate the best deal for you. The seller may still be asked to pay the commission out of the transaction but the contract between you and the buyers agent is absolute.

Don't confuse a sub agent working with buyers to a buyers agent. They are not the same.

This ^^^^^^

Of course, the OP hasn't really discussed that relationship, other than mentioning that he talked to "his" realtor. Could be either one of the above scenarios.

Again you are misreading what was said. I wasn't referring to the OP, I was referring to post 38.

I deal with realtors all of the time for close to 40 years, it is without a doubt one of the most unprofessional professions.

Not sure where you have lived for those 40 years but I have been a licensed real estate broker since 1977 and I have worked with hundreds of very professional folks. Personally, I find broad statements like yours offensive.

So tell me by the way what is a realtor anyway?

 

[Muss Muggins]

Again you are misreading what was said. I wasn't referring to the OP, I was referring to post 38.



Not sure where you have lived for those 40 years but I have been a licensed real estate broker since 1977 and I have worked with hundreds of very professional folks. Personally, I find broad statements like yours offensive.

So tell me by the way what is a realtor anyway?

A realtor is a totally different level of real estate sales certification/term of art/professional association, than a real estate agent. Kinda like broker is totally different from the other two. Like most things, words have meaning. As for the discussion we were having about the first post and post 38, I've lost the point. Whatever . . .

 

[LVSteve]

All I can say is that the process is a great deal simpler in the UK and there are far fewer snouts at the trough. When you want to buy a house you look in the window of the "estate agents" and pick the ones you want to see. There is none of this "working with a realtor" which appears to be some kind of job creation scheme IMHO.

Then there are the fees charged in the UK about 2% on a sale, a few pounds for land registry fees and about $250 for a proper home survey. All conveyancing (contract writing and processing) as it is called is done by attorneys. Escrow if done by their office, not another complete industry and all its overhead that I am expected to pay for in Nevada. In the US, good grief, Capone went away for less theft than those in the real estate business. Where's RICO when you need it.

The sales contracts tend to be much simpler in the UK due to a general drive towards plain language contracts. Yes, I'm sure many in the legal field here would have that idea hunted down and buried PDQ.

 

[allthumbs]

I'm really mentally exhausted over this whole situation. My agent is calling the company owner tomorrow to see what he says, both agents work for the same company, just different offices. The owners agent has called my agent multiple times telling her they are sueing me, it didn't bother me one bit until my agent starting crying and apologizing over and over again, I feel awful for her.

I am generally an easy going person and I know in any home purchase, even new construction you're always going to find something wrong, but IMO this is way beyond the norm and I will probably never be able to get that strong urine/ammonia smell out of my head.

OK, thanks again for letting me air this out.

 

[Muss Muggins]

I'm really mentally exhausted over this whole situation. My agent is calling the company owner tomorrow to see what he says, both agents work for the same company, just different offices. The owners agent has called my agent multiple times telling her they are sueing me, it didn't bother me one bit until my agent starting crying and apologizing over and over again, I feel awful for her.

I am generally an easy going person and I know in any home purchase, even new construction you're always going to find something wrong, but IMO this is way beyond the norm and I will probably never be able to get that strong urine/ammonia smell out of my head.

OK, thanks again for letting me air this out.

Can you clear something up for us? Is "your agent" a buyer's agent with a buyer's agent contract, or just the agent that was showing you houses . . .?

 

[Rastoff]

I'm really mentally exhausted over this whole situation.

I hear you. Buying a house is mentally exhausting. What you're going through is much worse.

Relax. The worst that can happen to you is you lose your deposit. That's better than being stuck in an expensive house you hate.

 

[arjay]

The point of the walk through is to give the buyer the opportunity to check everything.Dont fall for any *** stories.They need to get it right.

 

[allthumbs]

Can you clear something up for us? Is "your agent" a buyer's agent with a buyer's agent contract, or just the agent that was showing you houses . . .?

I believe she would be my buyers agent, I contacted her to show us homes we were interested in, the listing/sellers agent, just happens to work for the same company in a different office/town.

Indiana, the title company handles all the closings and what ever is involved with it, title/lean search and so forth, in IL you use a lawyer for closing.

 

[Muss Muggins]

I believe she would be my buyers agent, I contacted her to show us homes we were interested in, the listing/sellers agent, just happens to work for the same company in a different office/town.

Indiana, the title company handles all the closings and what ever is involved with it, title/lean search and so forth, in IL you use a lawyer for closing.

That's what I thought. She doesn't work for you, and she has no fiduciary duty towards you. She's just being nice because she's getting about 2% of this sale. You don't have a legal representative in this fight. Call a lawyer.

 

[Rastoff]

I had a similar situation. It was day 35 of a 30 day escrow. My wife and I went to look at the house. Whoever did the septic inspection had broken a huge branch off the tree in the yard and torn up the entire side yard looking for the septic tank.

We asked our agent if they were going to repair it and she said no. I responded by saying, "OK, I guess we're done." I walked from the sale and got my deposit back minus a little bit used for the propane inspection.

 

[allthumbs]

The point of the walk through is to give the buyer the opportunity to check everything.Dont fall for any *** stories.They need to get it right.

I agree, but I feel like with them still moving out at the appointment time of the final walk through makes it not the final walk through, I mean isn't a final walk through after the house is empty and the new owners make a final inspection ? It was after 3 pm when we left the realtors office and closing was to be at 3pm, they were still cleaning and moving. I'm sure at this point I'm not making much sense, but I'm trying.

 

[Practical]

Didn't you put any CONDITIONS in your contract?

I have seen people REMOVE yard plants including small trees and replant in their new home, they also replace appliances.

YOU cannot assume ANYTHING.

If you contract does not state EXACT terms regarding cleanliness, inspection criteria, list off what appliances come with the house, record serial numbers, and video tap the property and include description of plants, sheds etc you are buying the property and the house.

EVERYTHING else might not be included. EVEN the trees and plants. MAYBE you own the dirt. I would not be surprised someone might take a roll of sod.

You sound like you should have put a lot of conditions down.

 

[Muss Muggins]

I agree, but I feel like with them still moving out at the appointment time of the final walk through makes it not the final walk through, I mean isn't a final walk through after the house is empty and the new owners make a final inspection ? It was after 3 pm when we left the realtors office and closing was to be at 3pm, they were still cleaning and moving. I'm sure at this point I'm not making much sense, but I'm trying.

Hire a real estate lawyer. Now. . . .

 

[allthumbs]

I had a similar situation. It was day 35 of a 30 day escrow. My wife and I went to look at the house. Whoever did the septic inspection had broken a huge branch off the tree in the yard and torn up the entire side yard looking for the septic tank.

We asked our agent if they were going to repair it and she said no. I responded by saying, "OK, I guess we're done." I walked from the sale and got my deposit back minus a little bit used for the propane inspection.

Good for you ! The truth is the listing agent is either a liar or lazy or both, I talked to my agent on monday and she said the listing agent just called her and said "They're all moved out and just going back to vacuum and shine the house up for you" . We get there 4 days later at the final walk through time and that house hasn't been cleaned in weeks, they're still moving out, probably no intention of cleaning anything.