Home Buying in San Ramon>Question Details

Yhua, Other/Just Looking in San Jose, CA

I'm in a contract with a bank owned condo. The deal will be closed next week. But I find out that the condo doesn't come with washer and

Asked by Yhua, San Jose, CA Fri Feb 26, 2010

dryer as it is advertised on the MLS. The bank won't pay for them and its agent is quite upset with me. He requires me to sign that I won't ask for washer and dryer any more, or the deal will fail. I suppose the bank's agent made a mistake. My husband and I am about to forgive him. However, pushing me sign something before closing really makes me feel I did something wrong and quite upset. What should I do?

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I know how frustrating this can be, but I think you're smart to let this issue go particularly if you really like the condo. Unfortunately, this happens and the bank certainly won't budge on paying for it. I don't know that you need to sign anything if the escrow is proceeding as it seems a bit of a mute point. If they are demanding it, I don't know that it would harm you in any way.

Erica Jones Starkey
Broker, Co-Founder
JSCA Real Estate Group
Providing Superior Solutions for Your Individual Real Estate Needs
Web Reference: http://www.jscarealty.com
0 votes Thank Flag Link Tue Mar 9, 2010
Dear Yhua,

There are lot of ways to look at the situation. It seems from reading your post, you have accepted the place without the washer & dryer, but want validation that you are in the right to demand the washer & dryer. Is that right?

However, looking at the "BIG PICTURE", Dave Sutton provides some great perspective. Although, it sounds like you could push the listing agent and he/she will have to pay for the mistake. If it were me, I would hold my ground that the listing agent needs to take responsibility for the inadvertent omission (which is NOT fraud) and pay for the wash & dryer.

Andrew Meislin

Lauhala Mortgage
74-5620 Palani Court; Suite 208
Kailua Kona, HI 96740

Phone: (808) 331-0585
Fax: (808) 331-0583
Email: Andrew@LauhalaMortgage.com
0 votes Thank Flag Link Sat Feb 27, 2010
A little perspective may be in order. What's the price of a washer & dryer and how does it relate to the value of the condo you thought you were buying at a fair price? Top of the line washer dryers seem to me to be in the $2,000 range - or $500 for plain Janes from Sears. Take a $1,000 figure - on a $200,000 condo it's1/2%; $400,000 it 1/4%.
0 votes Thank Flag Link Sat Feb 27, 2010
Trust me on this one, Carl. Those generic disclaimers are not worth the peper they are written on when;

1) These REO agents handle many transactions from a given bank. These listing agents KNOW that these contracts say all the terms CM details in the main post.

2) Good faith and fair dealing is required as part of our agency agreements. This obligation includes the legal obligation to disclose properly all aspects of a given property.

3) The fraud statutes require us to advertise, market, and represent the properies we list accurately.

These three obligations are in some way violated in the scenario Yhua provided (Disclaimer: see and attorney as to how this affects you.)

An agent who tries to protect himself with the provided disclaimer while additionally representing themselves as experts in CAR and their REO Asset Managers Bank contracts while a client (or if they decide to get tough with an agent, his attorney) is claiming rights in law based on consumer protections provided in fraud statues and agency law over a stupidly smll piece of one commission for his own mistake, deserves what he/she gets.
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Fri Feb 26, 2010
**Information contained on this report is designed for accuracy but is not guaranteed**
**This information is deemed reliable, but not verified or guaranteed**

In addition, I'm betting that any personal property was removed from the contract in the bank's Addendum. If that's the case, the contract is always the final authority.

That's my take on it, anyway. Disagreements welcome!
0 votes Thank Flag Link Fri Feb 26, 2010

I seldom disagree witht he top dogs on this site due to the quality of the information, I will challenge them on this one point. Contract or no contract the listing agent made a mateiral represenation in print (on the MLS) and you acted on that infomormation. In the absence of any correctable disclosures FROM THE AGENT he IS ultimately liable for the personal property included in the sale in as-is condition NOT the bank.

The listing agent has a problem here. He is representing the bank and making represenations on their behalf and working under a listing agreement that pushes this liability onto him. If you are represented by the listing agent you are in a sticky situation that falls in the grey area of contract law. The question is is it worth the expense. One way or the other this will escalate and it only gets more expensive. To see how this situation applies to you, right away take your contract and the MLS sheet to an attorney and ask then how to deal with the AGENTS on this matter.
Web Reference: http://bob2sell.com
0 votes Thank Flag Link Fri Feb 26, 2010
It's not unusual for appliances to be removed from an REO property. In fact, they are SELDOM present when prospective Buyers see the home. I'm sure you and your husband got a terrific deal on the Condo. Take some of your "savings" an invest in new laundry equipment of your choice. Don't let this little unintentional snag prevewnt you from obtaining your new home. Good luck and congratulations on your purchase.
0 votes Thank Flag Link Fri Feb 26, 2010
I would agree,.. while I certainly understand your disappointment since it was advertised in the MLS, it is an agent error. Ultimately you must decide how important that washer and dryer is to you. As far as signing that you did anything wrong,.. you didn't so I would not worry about that verbiage. All the amend/extend needs to state is that the Purchaser understands that no washer/dryer is included in the sale. Real Estate is a contract based business and that is the reason that the agent needs something signed prior to close.

Randy G Morley
The Home Brokers, Inc.
22 Years serving Colorado Springs

Web Reference: http://www.springsnet.net
0 votes Thank Flag Link Fri Feb 26, 2010
First, how important is the washer/dryer to you in this sale. Buyers need to look at the big picture and find out what really matters. It is personal property so unless it was somewheren agreed upon in the purchase agreement, it does not have to stay. Diane
0 votes Thank Flag Link Fri Feb 26, 2010

A washer and dryer are personal property and CANNOT be conveyed by the bank, regardless of what the MLS or purchase agreement states. If a washer, dryer, refrigerator or other “removable” appliances are left in the property when you finally get the keys, count yourself as fortunate.

This is a common mistake by both listing agents AND selling agents – many REO agents have so many listings that quality control when posting listings becomes a real issue. In some cases, the REO agent has never even been in the property. As for your own agent, they should know that non-attached appliances are personal property and might be removed before escrow closes – EVEN IF THEY WERE WRITTEN INTO THE CONTRACT.

If you read the fine print in the Bank Addendum you signed, I’ll almost guarantee that there is fine print in it that states that personal property is not a part of the contact and will not / cannot be conveyed. In many instances, if appliances are asked for in the purchase agreement, they are countered out by the bank (even if they end up staying at close of escrow).

When we tour REOs and short sales and I’m asked by buyers whether or not appliances stay, my answer is always, “Maybe ... you’ll know for sure when you get the keys and open the front door.”

As for recourse, there is none. No one did anything “wrong.” Your agent is simply asking you to sign an addendum that clarifies the contract and puts all pertinent details in writing. It’s the right thing to do.
0 votes Thank Flag Link Fri Feb 26, 2010
Did you have your own agent or did you use the listing agent? It sounds like you used the listing agent. If that is the case, that agent legally represents you as much as he or she represents the bank. No one can forece you to sign anything and I suggest having an attorney review anything that you sign especially if you are feeling pressured to sign. No one here on Trulia can legally give you advice about whether or not you should sign the document.

If your contract states that the washer and dryer are to be included AND the addendum or counter offer that you received from the bank didn't state that they were not included you have an issue to dispute with the bank. However, the banks typically will just say "fine we'll cancel the contract" so be ready to make that decision (I think that's pretty much where you are at currently). It may come down to whether or not you want to lose the home over a washer and dryer.

If it was not written into your contract that the washer and dryer stay then you need to discuss this directly with your agent and ask why he or she didn't include this in the offer. If you used the agent representing the bank I'm guessing he or she is now trying to cover the mistake by having you sign the addendum. If it is your own agent, you might ask them to credit you money to purchase a used washer and dryer (which is what you would have been getting anyway). You can usually get a pretty nice set for about $500 on Craigslist.

Unfortunately, you cannot expect the bank to pay for something that they didn't agree to even if the agent put it into the MLS. As @Christy stated the contract specifically states that it doesn't matter if it's stated on the MLS, it needs to be written into the contract.
0 votes Thank Flag Link Fri Feb 26, 2010
Unfortunately, you will need to ask yourself how important is the washer and dryer is in the purchase of this home. Do you have a case being that the washer and dryer was advertised as a part of the sale? – yes. If you push the issue could you loose the home? – yes. The lenders that own and are selling these REO properties typically don’t want to spend a dime on any of these properties. The listing agreement between the seller and the agent may not even mention the appliances at all; my guess is that the agent made a mistake by advertising the unit with appliances in question when it was never suppose to be sold with them. Your dispute is probably with the listing agent. If you decide that having the home, even without the washer and dryer, is a benefit; then proceed to close. You may want to keep a copy of the listing (stating the washer and dryer are included in the sale), and proceed with your complaint after closing.
Good Luck.

David Lang
Keller Williams Realty

0 votes Thank Flag Link Fri Feb 26, 2010
I believe this is a duplicate question--what does your contract state--are they included.
0 votes Thank Flag Link Fri Feb 26, 2010
Your agent is the one that made the mistake. Your agent was suppose to write the washer and dryer into the contract. Just because it is included in the MLS does not mean that it is included in the sale. Your purchase agreement states this in Section 8.
0 votes Thank Flag Link Fri Feb 26, 2010
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