Home Buying in 92130>Question Details

homebuyer, Home Buyer in San Diego, CA

can sellers agent directly contact your lender and ask them to close early ? if this is not correct what can be done ?

Asked by homebuyer, San Diego, CA Mon Oct 15, 2012

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Cindy Davis’ answer
The listing agent CAN do this but he or she CAN'T force the buyer to close early. There's a reason we do everything by written contract! The contract is a legally binding document, and when in doubt, everything goes back to that.

IF all parties agree to close early and the lender can get it done, that is certainly acceptable.

Good luck.
1 vote Thank Flag Link Mon Oct 15, 2012
It really doesn't matter - you have a contract which the seller agreed to that addresses the close date. The question of closing early is really up to you and your ability/willingness to close early. Just because the lender can pull it off does not obligate you to anything beyond your contract. The seller needs to have their agent address the issue with your agent.

If you don't want the seller's agent contacting your lender, then have your agent tell them so in writing. Gotta agree with Debbie that the seller's agent has no business calling your lender.

BeachBrokerBill
CA DRE 01775528
1 vote Thank Flag Link Mon Oct 15, 2012
I do not think is professional for the seller's agent to contact buyer's lender directly. Best way to do it is asking the buyer's agent if they will be agreed to close before the due date and explaining the reasons that you or your client have to ask for that request.

Best of Luck,

Maria Cipollone

http://www.Flahomespecialist.com
1 vote Thank Flag Link Mon Oct 15, 2012
Contact your lender in writing and direct your lender to not disclose anything or have contact with the sellers agent during this transaction and refrain from taking any direction from anyone other than your self.

Harold Sharpe - Broker
So Cal Homes
(951) 821-8211
harold@socalhomes.biz
http://www.socalhomes.biz
California Department of Real Estate Broker License # 01312992
0 votes Thank Flag Link Sun Oct 21, 2012
Your closing date must be mutually agreed on.

In order to close early you and the seller both have to be in agreement.

The seller's agent can not act alone and get the closing date changed.

Sounds like you have nothing to worry about.


Kawain Payne, Realtor
0 votes Thank Flag Link Fri Oct 19, 2012
I would much prefer that either agent call me to discuss the possibility of changing the closing date prior to drafting an addenda that modifies the original contract. As already stated, your lender will not alter anything from the terms of the contract UNLESS there is a change signed by all parties in the transaction.

I also attempt to have a very open communication path with both agents throughout the process so everyone is aware of time lines and has up to date status on the finance process.

I suspect that the sellers may have queried their agent about the possiblity of an early closing and the agent (smartly) contacted the lender to determine if there was any possibility prior to broaching the subject with your agent. To be sure, you are in control of this step. No one can move the date without signed agreement by you. Best of luck!!

Deborah Garvin
NMLS #279125
(619) 787-8212
0 votes Thank Flag Link Tue Oct 16, 2012
Hello homebuyer,

Whatever is written on contract should be the closing date. Yes, the sellers agent can contact your lender but shouldn't ask to close early.The seller's agent has already accepted your offer with the closing date terms. If you’re having problems, then have your agent contact their broker.

Best to you,

Michael Alex
Real Estate Consultant
“The Trustworthy Choice in Real Estate”
cell. 619.581.9348
email. AskMichaelAlex@gmail.com
Pacific Sotheby's International Realty
San Diego,CA
0 votes Thank Flag Link Mon Oct 15, 2012
As a lender, I am always pleased when I am part of discussions about adjusting closing times, etc.
The lender can state whether or not this is feasible and then duggest the agent discuss it with the buyer's agent.
0 votes Thank Flag Link Mon Oct 15, 2012
There is no law or ethics violation that prevents them from calling and asking. However enforcing is something completely different. They can not change anything without all parties involved agreeing to it in writing. You probably already have a biding contract that can not be changed without all signatures.
If they are trying to change it without your permission notify escrow ASAP you do not agree and seek legal council if it goes that far.
0 votes Thank Flag Link Mon Oct 15, 2012
Homebuyer,

Once we are in agreement, we should all be working as a team to reach the goal of closing the transaction, I don't see anything wrong with this, specially when the buyer side gives the seller side the lender info. to confirm you are creditworthy. Dialogue between lenders and realtors should be encouraged to create a smoother transaction.

If you have a 30 day closing and loan docs get there on day 25 it gives everybody extra time to work the paperwork and not have last minute surprises. They can ask to close early all they want, but what is in the fully executed purchase agreement prevails.

Have you removed contingencies? are you a serious buyer or having cold feet?

Hector R. Gastelum
Realty Executives Dillon
REALTOR #01382940
hectorgastelum@yahoo.com
619-954-2225
125*142*10754
efax 619-270-2516
0 votes Thank Flag Link Mon Oct 15, 2012
This action would be considered inappropriate and unprofessional. Your agent should tell the listing agent that this is not correct procedure, and, if need be, have your agent's broker complain to the listing agent's broker.
0 votes Thank Flag Link Mon Oct 15, 2012
A listing agent can contact the buyers lender for status updates however, if they want to close early, then that should be discused with your agent and have something drawn up inking the change.Maybe there is something that is making the listing agent uncomfortable and maybe they are looking for reassuracne and in the conversation asked about closing early? Is this your lender that was contacted and if so, why are you bothered if you are planning on closing?
0 votes Thank Flag Link Mon Oct 15, 2012
In my opinion, it is inappropriate for the seller's agent to contact YOUR lender.
I would be surprised if the lender would engage in a conversation with the agent.

The seller's agent can discuss an earlier closing with your agent, who, in turn, would discuss it with you, and speak with your lender.....with your permission.

Best wishes!
0 votes Thank Flag Link Mon Oct 15, 2012
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