Home Buying in Kansas City>Question Details

Snowturkey, Home Buyer in Wichita, KS

How do you find out what bank owns a house? also, is it legal for me to contact them & find out if they have made a decision

Asked by Snowturkey, Wichita, KS Tue Feb 1, 2011

I think I have a contract, seller has approved, but we are waiting on the bank. The other agent has not told us anything. Is it legal for me to contact the bank once i find out who owns the lein and find out what is going on?The closing date is coming up & I have no answer, havent done inspection or got the condition report on the house. I was told once the closing date comes & goes if I have no answer I can get out of contract if I have no answer, Is this correct?

Help the community by answering this question:


anything is legal, but remember the lenders are some of the largest companies in America. how easy is it to talk to your boss's, boss? If you are in a mid to large firm somewhat difficult. Besides that, the bank has a process to sell real estate, that is, when they choose fit they put them on the market. I don't mean to be rude, I just want you to know you will be wasting time trying to contact the lender.

1 vote Thank Flag Link Tue Feb 1, 2011
If you feel you have exhausted all resources with your agent, perhaps it is time to contact his/her employing broker and not try to contact the bank or bank Negotiator if there is one assigned. It will not make the transaction go faster. I advise patience if you are getting a great deal.

Remember an "offer" is the initial attempt at entering a contractual relationship. You as the Offeror have the right of revocation of the offer, up until the offeree accepts. An offer can also be terminated if theres time constraints or time is of the essence clause that sets forth dates and times. Best of luck! I hope some of my and others contributions can be of assistance.
0 votes Thank Flag Link Thu Feb 3, 2011
My main problem is both realtors know nothing about short sales. Mine doesnt know anything about them at all. I made the mistake of going with a unexperienced realtor.
My realtor cant get any answers out of the other realtor. I just would like to know something that is going on.
0 votes Thank Flag Link Thu Feb 3, 2011

Are you working with a real estate attorney or a RE agent? This is something they should be doing to advocate for you. With any real estate transaction, the more personal contact there is, the greater the chance for success.

Part of the process should be to establish relationships and become familiar with the specific people involved with your transaction. By getting too many individuals involved, possibly bringing into it people that are outsiders and unfamiliar, you run the risk of encountering information that is not accurate and often counter productive.

Our advice, let the pro's do their thing and don't muddy the waters by sticking your nose in.....If you want to call someone, contact your agent or attorney for an update....not the lender. Sometimes good intentions can end up being misinterpreted and counter productive.

Good luck,

0 votes Thank Flag Link Tue Feb 1, 2011
This sounds like a short sale with 3rd party(bank) approval. The bank would probably not speak to you since they do not own the property and their client, the seller, is their responsibility. Your agent can contact their agent to get an update. You probably could get out of the contract anyway, if you wanted. Its an offer and not binding until the bank agrees to the offer. I have had banks give me a yes or no the day of the projected closing. Each bank and each situation is different and not black and white. Their concern is not you - or fear
of losing you- but the dollars and sense of it....they usually have the home appraised to make sure that your offer is a good and fair one and then look at their portfolio to see if they can afford another short sale at this time and then go from there. Hope this helps; if the house is a good house at a good value, patience is the operative word.
0 votes Thank Flag Link Tue Feb 1, 2011
Do you have an agent, and if so, what is he/she advising--if the property is a short sale, keep in mind that they are by no means fast sales and much patience is needed; as for contacting the lender--more than likely the lender will not provide you with information, therefore ask your agent...if you have a contract and would like to back out--much will depend on the contract and exactly what it states, therefore if you don't have an agent, consider consulting with an attorney who specializes in real estate, have all related documentation reviewed and go from there....
0 votes Thank Flag Link Tue Feb 1, 2011
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer