Post # 1
We reached an agreement on a house we’re trying to buy on Saturday evening. After trying a few lower offers, we ended up offering 2.5k below the seller’s counter as our final offer and they wouldn’t take it, so the realtors decided to reduce their commision to make up the difference and the seller agreed. We signed the revised pages of the contract on Sunday. The sellers signed it on Monday, but made one small revision about keeping certain drapes. We counter-signed the revisions on Monday night.
Since that time, I have been asking my realtor for a signed copy of the whole 50 page contract. She keeps telling me that the seller’s agent has not sent it to her. The last time I spoke with my realtor was on Tuesday. I called and emailed yesterday and today and she has not responded to my messages. What the heck is up?! Also, the house is still listed as active (and not pending) on the MLS, despite the fact that the contract was supposedly signed by both parties on Monday. So did we buy a house or what?! The contract says we have 5 days to lock in a mortgage rate, but I can’t do that until I have a ratified contract. We were all set to lock on Tuesday, when the rate was 3.25, but didn’t have the contract… now the rate is 3.4… not a huge difference, but over 30 years, it adds up! I am beyond irritated!!!
Any advice on what we should do next?!
Post # 3
Fire your agent? jk.
Are you sure you want this place? This process has been a nightmare for you and your agent has fallen down on the job several times. The sellers have been ridiculous. the universe has thrown every red flag in your way.
How much difference is there in the rate over 30 years? I’m surprised it went up since averages reported no change or downward trends. Can you verify that it isn’t just the one bank? If it did go up, I would calculate it out and email your realtor that this represnets an additional Xk and if she can’t produce a signed contract and the sale isn’t final you want to reopen negotiations to an equivelant reduction or you are walking. Either it is all locked down, or you are free to move on.
You have to be willing at a certain point to say enough. Either you want this place and will do anything to get it, or not. Only you can decide that.
I would however, report her to her licensing board after you are done. She sounds like a horrible agent.
Post # 4
Wouldn’t you know it, she just emailed me back and said she will have it to us this afternoon. I’m a little skeptical, as we were supposed to have it Monday night, then first thing Tuesday morning, then Tuesday afternoon, then Tuesday evening at the latest… yeah. Well, I hope she does get it to us.
@justelope: Yeah, it has been way more stressful that it needs to be, but I do still think we want the place. We will most likely use another realtor when we put our house on the market next week. I am not looking forward to “firing” her, since we’d all been planning to have her list our house, but I think that’s what we’re going to have to do.
ETA: Hopefully you are right and the rate hasn’t gone up… the lender quoted me 3.25 in person on Tuesday and I later saw the rate on their website on Wednesday was higher. I need to check with him in person again.
Post # 5
- Wedding: October 2011 - Bed & Breakfast
@78h2o: You realtor sounds like a pill. You must be beyond frustrated! If you want a recommendation for an agent tolist you old place, I would gladly share the name of our agent. She was amazing, and was willing to bend over backwards to meet our needs.
Post # 7
Well, I did just receive the contract… so that’s good. However, the contract includes the original version of an addendum that my husband and I had revised (the original addendum says that they will replace the roof and siding – our revision stated that it would be the same color/same or superior quality/installed by a licensed professional/guaranteed)… so the one that they signed is the one that just says it will be replaced. Ack!
ETA: @lovekiss: Thanks! Actually, I think you already gave me her name. 🙂
Post # 8
So glad that it came though.
Also, I think the MLS is slow to update even if contract signing is quick and easy. Don’t stress about that.