Home Buying in 07202>Question Details

Brownsugaribm, Home Buyer in 07202

if i placed a bid and the sellers accepted but i am still waiting on the bank for approval ie short sale can i view the house again plcd bid on feb 22

Asked by Brownsugaribm, 07202 Wed Apr 6, 2011

if i am dissatisfied with my realtor can i fire them once i am in the contract stage and get a new one

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7
John Ribeiro, Gri’s answer
You are in a short sale situation, the bank has to give final approval, during this time if you have not heard back from the lien holder, (bank), and you decide to cancel the contract, you can. But let your agent or attorney handle that. Once both attorneys agree to release your earnest deposit funds from escrow than you receive your deposit back. At this point in time you should know who holds your escrow.
Your Buyer agent is limited to the seller's paperwork, so your agent is very limited on what she/he can do besides passing on information to you on the process of the short sale. In this situation she/he is the one that set appointments to obtain the certificate of occupancy, which you have to pay, in Elizabeth is $65 building and $40+ fire.
The selling agent or attorney that is handeling the short sale does not receive the documents in a timely manor than yes the lender will close the file. Then the whole process starts again.
Just because it is a short sale and you are most likely buying the property in as is condition, you are entitle to do a home inspection, at this point you should of have done, because if you wait until you hear from the bank, they give you 30 days to close, you do a home inspection and their are major issues with the house. Guess what you just waisted all this time for nothing.
0 votes Thank Flag Link Thu Apr 7, 2011
Brownsugaribm,

1.- You can see the house again with your present agent.
2.- If you are dissatisfied with your present realtor and want to hire a new one, most likely your present realtor will get paid in full. It all depends on the circumtances. The Association of Realtors in your area will hold an arbitration and decide who will get paid.

I was just wondering if you signed a buyer's agreement with your present Realtor.

Good luck!
0 votes Thank Flag Link Wed Apr 6, 2011
I agree with Michael. Agent's biggest effort is in finding a ready, willing & able buyer for the property, help to negotiate a best possible price and get the contract signed. It seems to me that this part of this transaction is completed. If you change agent at this point, you will owe the first agent out of your pocket, plus new agent will have to get paid.
0 votes Thank Flag Link Wed Apr 6, 2011
Absolutely! You can get another agent. You will just have to pay the first agent out of your pocket.
0 votes Thank Flag Link Wed Apr 6, 2011
Your Agent should be able to get you in. The house is still on the market until the bank makes a decision. Just remember, unless it is vacant, someone still lives there. Common courtesy should be your giude. I am also assuming you are interested in measuring for your furniture or a similar detail.
0 votes Thank Flag Link Wed Apr 6, 2011
Yes you can view the house again, You need to contact your agent and let them know so they can make arrangements to meet you to look again.
0 votes Thank Flag Link Wed Apr 6, 2011
Yes you can. Just call your agent to make the appt. best of luck with your new home.

Kat Becker
The Becker Group
0 votes Thank Flag Link Wed Apr 6, 2011
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