I have a question for the realtors and I also have a statement. The question is, why do some realtors make

Chynna
Home Buyer
10467

it seem as though there is some sort of rush to sign the buyer /seller purchas contract? Recently, I recieved a contract to purchase a home in Queens. The seller's realtor wanted me to sign the contract ASAP, and she also threatened that if the contract was not signed by the end of the week, she was going to move on with another potential buyer. Please also note that there were issues involved with the property which was noted in the inspection report; and I was trying to go over the contract and the report with my attorney. Now, my statement is this, we the buyers are making a huge investment on real-estate. We, the buyers, should not feel rushed or threatened when reviewing contracts with our attorney. I am sure there is a fair and reasonable time frame, in which a buyer should be able to review the inspection report and discuss all findings and concerns with the realestate attorney. Please realtors, stop the game playing with us buyers; it is a turn off!!!

Answers (6)
Best answer: Diane & Bob…
First to answer: Lisa Long
Michael Benning...
Broker
92677

We do not play if we are professional.

Thu Jul 9 2009, 14:42
Diane & Bob Are...
Agent
10598
BEST ANSWER

Just to play devil's advocate, most contracts are contigent upon the inspection results. If the inspection shows anything that is not to your liking and your contracts are contigent on the inspection you can back out of the deal with no penalties (you should always review the terms on the contract with your lawyer so you have a full understanding of your rights as the buyer). In reality the contract protects you from having another buyer outbid you! With that said, no agent should threaten you or push you to sign contracts you do not feel comfortable signing. It is the agents job to clearly present your options, but they should never pressure you. As a buyer however you should be aware that without signed contracts the seller has every right to move onto another buyers. It is unfortunate, and unfair but legally without signed contracts the agreement is not binding. I hope everything works out for you and that you enjoy your new home!

Wed Jul 8 2009, 10:58
Ryan Gable
Agent
60067

First, do you have an agent? If you do, what are they advising you? Second, and more importantly, does your contract have an attorney review provision? Meaning the contract can be signed but an attorney can approve or disapprove the contract for a period of time after it is signed. Regardless, take all the time you want, who cares what the seller's agents is telling you. The property might not be there after you do your due dliligence, but if your contract does not give you an out and if you must do your due diligence before you sign the contract, you're doing the right thing. In the Chicagoland area, we use contracts that allow the buyer to perform inspections, home owner association reviews, attorney approvals / disapprovals after contract is signed. If something isn't right and can't be negotiated, the contract is cancelled and earnest money returned to the buyer. I understand that's not the norm in all states. But please understand that not all agents rush their buyers into contracts, some of us treat clients the way we would want to be treated.

Wed Jul 8 2009, 10:37
Anatoliy Syedin
Agent
Valrico, FL

Hi Chynna,
I'm not sure I understood the whole picture, but let me try. You don't have your own realtor, or the listing agent is representing you as well. Now, you said that you received the purchase contract? You mean, you put an offer on the property and they came back with the counter? If so, then you have a short time period to accept it (usually 2 days), or it will expire. Most likely that is what the agent was trying to say and it didn't come out right. But what I'm confused about is how did you have the inspections of the property before you had a contract??? Maybe I missed something. I guess the answer to your question is: I'm sorry that you feel pressured and pushed, sometimes different personalities interpret the situations in totally contradicting ways. I as a homeowner understand how important it is to make the right decision, and sometimes maybe have some extra time to think. At the same time as a Realtor I understand that there are times when you don't know the right answer no matter how much time you take to think about it. Usually I let my clients know how much time they have and what their options are, give them my opinion only if they ask, and assure them that I'll be looking after their best interest no matter what. And then I do all that. Get your own agent that will look after your interests if you don't have one already.
Hope my answer may be somewhat usefull.
Best regards.

Wed Jul 8 2009, 10:36
Michael Benning...
Broker
92677

I am glad you brought this up. There is 2 sides to everything.

The buyer and the sellers and as flustrated as you are put yourself in the sellers shoes for a moment.

He does not want to lose a buyer because he worked with one and lost the other.

If there was another offer he should have countered both and signed off on multipul counters out.

This would have taken the preasure off you and the agent. He is able to work the client who responds 1st.

homes are an investment and a roof over our heads. Respectfully Michael

Web Reference: http://BenningerTeam.com
Wed Jul 8 2009, 10:26
Lisa Long
Agent
Templeton, CA
FIRST ANSWER

It is good to see you plan on being loyal to your agent. It seems in this current market many agents are not so lucky. If it were me and my agent "threatened" me or would not explain the time frames I would got to the broker or find an agent willing to work with you. As and agent we are hired to do a job, part of which is to get all paperwork signed on time as to not hold up the escrow. We can only do this if all papers are in order. In our area houses can either sit on the market for a long period or have multiple offers the first day it goes on the market. It could be your agent was not only protecting her interest but yours.

Wed Jul 8 2009, 10:14

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