Home Buying in Chesterfield>Question Details

Judy75002, Home Buyer in Chesterfield, MO

we have an agent who is so busy she does not take the time to show us properties wehn we desire to go look

Asked by Judy75002, Chesterfield, MO Wed Jun 1, 2011

We are trying to buy a short sale, Our realtor, Janelle LaBounty sat at my table and said no problem you got it. Before even checking into the situation, we believer her, now we sold our villa and no where to go. wanted her to take us this mornign, too busy wanted to wait till tomorrow. Time is of the essence, as we have sold our villa

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Judy,

I have a few questions to see if I might be able to help you. Please give me a ring.

I have experience in short sale purchasing. I focus in the Chesterfield Mo area. I would be happy to spend the needed time with your family to find you the right home. Phillip Vincent 314-537-7445
0 votes Thank Flag Link Wed Jun 1, 2011
So sorry to hear of your situation. If you need a home quick, short sales are not the way to go. Short sales should be called long sales!
0 votes Thank Flag Link Tue Jun 7, 2011
OK, first and foremost, the majority of short sales take a very long time to do. I have 3 right now, that I am the listing agent for, where we started up front working with a short sale lawyer to "pre-grease" things with the banks so that when we got a contract in from a buyer we would not have to go through as long a process as if we were starting from scratch. It has still been almost 2 months since one got a contract & we have yet to get to bank acceptance yet, but the bank has assigned 3 different negotiators to us & the BPO was done before we got the contract; the next one has had a contract on it for about a month. It was also pre-worked by an experienced short sale lawyer & today we finally got told that the bank has assigned it to a negotiator who has 10 business days to review the file before hopefully accepting the contract! My third one doesn't have a contract on it yet, but we've spent 3 months trying to get the bank to do the BPO & they are finally scheduling it this week!

There is NOTHING cut & dry about a short sale. I had one deal where there were 6 contracts on the table that were OVER list price & the bank put the home into foreclosure instead of accepting one of the offers

The buyer's agent in reality has no clue what is happening with the short sale deal, they only know what the listing agent tells them. Typically they don't know if there is one or multiple liens on the home, each of which has to be negotiated separately before you can get the contract accepted. The primary lien holder typically doesn't tell the listing agent what they want for the home, until they have done a BPO and reviewed it, then they give a starting figure & you negotiate from there

While you thought you had an accepted contract with an accepted selling price when the seller signed the papers, it's not accepted until the bank negotiates their price with you & they finally come back & tell you IN WRITING

Now, most realtors work with multiple buyers & sellers at the same time. If we didn't, we wouldn't have enough business to pay our bills. Typically we are able to juggle showing buyers homes, marketing our listings, doing building inspections, helping people get their homes ready for market, going on listing calls, & the multitude of other things that are required. Sometimes we have a break in our schedule that allows us to quickly show someone a home on short notice, other times we may be booked 2 weeks out. We have to prioritize clients as well - this one is still in the research phase & won't be ready to buy for 6 months; this one is a relo client who has 2 days to find a home, do the building inspection & leave & we won't see them again till closing; another is just "thinking" about putting their home on the market & wants to talk to us about the market & what they should be doing to plan ahead; another has to find a home quickly because their lease is up in a month or they have an accepted contract on their home

You state that you have sold your villa, but have you CLOSED the sale yet? If not, then yes you have a timeline, but you HAVE TIME. If it's a typical contract in this area, you have 30-60 days before closing & you could have negotiated a longer time period to closing if you didn't have a place to go to yet. If you accepted a contract yesterday & told her that you wanted to go look at homes today, she may have already been booked for today, but she told you that she could make time in her schedule for you tomorrow. That is reasonable.

Let me give you a glimpse of what a typical day is like - 2 weekends ago, I had a relo client in town. I showed her 24 homes 1 day & 30 the next. In between houses, I negotiated details with other agents on several of my listings over the phone & worked a contract that I had to have another client sign late at night when I got back from the showings. Yesterday, I was on floor duty at my office in Chesterfield, then had a listing call out by Jefferson Barracks in South Cnty, then drove to Lake St Louis in St Charles Cnty to deal with an issue for a client. In between I worked with probably a dozen agents, sent messages to my sellers, stopped by a new listing to check on it & put out the trash since the client is out of town, coordinated with a condo management company, worked on problems that were effecting a closing with a title company, the lender, the buyer & the other agent, called contractors to get bids for a client & a host of other things. I had lunch at 4 pm with a drive through that I ate in my car & dinner at 10 pm.

Sit down with your agent & talk to her about your concerns, but recognize that she is only 1 person & she has many things that she is juggling. Respect her time constraints & you will get further
Web Reference: http://www.yourstlhome.com
0 votes Thank Flag Link Wed Jun 1, 2011
I agree.
Flag Tue Nov 25, 2014
Keep in mind good Realtor not short order cooks we have other families schedule however provide options that work best for all parties property tour

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
972-699-9111
http://www.lynn911.com
0 votes Thank Flag Link Wed Jun 1, 2011
Judy,

I think that your best bet is simply to sit down and talk to your agent. Let her know what your expectations are and she can address them. Communication is the key to a great working relationship.
Web Reference: http://www.TimMarkley.com
0 votes Thank Flag Link Wed Jun 1, 2011
Judy,

Unfortunately, if time is of the essence, you may be exploring the wrong market by going the "short sale" route. Unless you are able to identify a "bank approved price" short sale, a transaction of this nature could require months with no guarantees of getting the home.

If your agent is not able to meet your needs it may be time for a "heart to heart" conversation and a review of your options. Rather than cutting her lose, you may want to refer you to one of her colleagues and see where this goes before moving on.
0 votes Thank Flag Link Wed Jun 1, 2011
Talk to her, and determine if this will be a daily issue. It is not fair to ask one day in advance or the same day, and expect her not to be servicing other clients already. Give her two days you are available over a 3 day period. If she can't accomodate you, have a frank discussion. Maybe, she would be open to reassigning your buyer's agreement to a buyer's agent in her office.
0 votes Thank Flag Link Wed Jun 1, 2011
You are more than likely not your agents only client. She may have already made a commitment for today with another client who also needs to buy a home quickly. I imagine that waiting 24 hours is not going to be that much of a difference so I recommend you be patient and look tomorrow.
0 votes Thank Flag Link Wed Jun 1, 2011
1 day shouldn't make much difference. Now if this routinely happens, that might be a cause of concern.
Could you ask for a longer closing time on your villa, or even a short term lease back? Talk to Janelle and get her to understand your panic. See what she says.
0 votes Thank Flag Link Wed Jun 1, 2011
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