Question Details

Nate, Home Buyer in Minneapolis, MN

Is it common for your realtor to Check-out so to speak once a bid has been accepted on a home. It seems like

Asked by Nate, Minneapolis, MN Thu Mar 6, 2008

my realtor isn't as attentive to me anymore since the deal of buying the foreclosure townhome is almost done. I have serious questions involving $$$ (particularily to the outstanding debt from previous owners that is supposed to be cleared before closing so I am not responsible for it). I would like to be reassured they are going to be taken care of and how they are taken care of so I have no surprises at closing time. Now my doesn't call me back. Is this normal? Does anyone have information where I might look to learn on my own how this is taken care of at closing?

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It's only common with Realtors who aren't smart enough to look at the "big picture" and understand that you're forming a relationship with that buyer, and all of their friend and family that might be referred their way, if you liked your Realtor and the job they did.

That kind of thinking is incredibly short sighted, and you have every right to feel somewhat like a "transaction" rather than a person, in this case. I'm sorry this is occurring. I'd recommend calling your realtor and telling him/her that you're feeling somewhat neglected, now that the "contract" portion is over, and you'd like some assurance from him/her that they're going to be there to address your ongoing questions and concerns... feel free to "dangle that carrot" of ongoing referrals, if you need to.
1 vote Thank Flag Link Thu Mar 6, 2008
Alan May, Real Estate Pro in 60201
MVP'08
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Nate, a good Realtor would stay in contact with you and help you all the way through the process. But to try to answer your question, if it is a bank owned property then the previous owners debt is not your problem. The bank will hold them accountable for the difference between what they owed and what the sales price is. There may be other leins on the property like propery taxes that were not paid etc. Contact your closing agent to see what your responsibility would be for that.

Hope this helps.
0 votes Thank Flag Link Thu Mar 6, 2008
Hi Nate,

It is not common, nor is good common sense! I would recommend speaking to the manager of your Realtor's office if they aren't responding to you. The escrow company (if you go through an escrow holder, I am not familiar with customs in Minnesota), or the title company might be able to help you, but your realtor should be your liason. Good luck and congratulations on buying a home!
0 votes Thank Flag Link Thu Mar 6, 2008
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