Home Buying in 12036>Question Details

Jrs, Home Buyer in 12036

We are in contract to buy a home with 23 acres, 3 weeks ago we had the appraisal and hadn't heard anything for 2.5 weeks, turns out that the

Asked by Jrs, 12036 Thu Jun 24, 2010

appraiser discovered that there was only 18 deeded acres with the property.. and they contacted the listing agent the same day, she never told our realtor or anybody, the e-mail the appraiser sent to the lender was lost so neither the lender or us had any idea this was happening. the listing agent told the appraiser she didn't have a copy of the deed and that she would get back to them she never did. We just found out about this a few days ago because the appraiser re-emailed our lender. How can this listing agent sell this property as 23 acres when she doesn't have a copy of the deed? When our realtor called her she blew him off and told him it was up to the lawyers now. What is up with that? Just wanted to know if this is acceptable behavior for a realtor, to list without a deed and then avoid the appraiser for 3 weeks and keep all this info to herself? Thank you!

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We would be fine with just reducing the price.. but the sellers are insisiting that it is 23 acres, although they have no documentation to prove it. The appraisal came in low ( by a few thousand dollars) We are just hoping they agree to lower the price. We really like the house and property and don't want to lose it. We are just very dissapointed in how this has all been handled. Thank you for your input!!
0 votes Thank Flag Link Fri Jun 25, 2010
A survey of the property would have been the first thing I would have requested - however, there is a section of most contracts that address if the acreage is different, then the price is adjusted. Regardless, the Realtor's actions, according to what you have described is negligent and could possibly be subject to a review by the board.

Sorry for your confusion and issues! Hope things get better.
0 votes Thank Flag Link Thu Jun 24, 2010
The only thing I can think of is maybe the deed said 18 acres + / -. They had a survey done and found out it was 18 acres + 5 more when it was done.

If not someone made a huge mistake here.
0 votes Thank Flag Link Thu Jun 24, 2010
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