718 views
Jay Gedanken
- 35 Helpful Answers
- 103 Answers
- 2 Blog posts
Locations:
Web sites:
Profile Link:
Specialties:
Buyers Agent
Short Sale ... show more
Short Sale ... show more
Certifications
& Awards:
& Awards:
CA Department of Real Estate BROKER License
About:
I hold a California Department of Real Estate BROKERS license, not just a salesperson license. My background also includes many years as a mortgage broker;
... show more
Jay Gedanken answered:
David,
Sounds like your agent is doing the right things.
In my experience, especially when the delay has been caused by the seller, I have never had a buyer charged per-diem for not closing in time. It is always best to get the waiver in writing to protect yourself.
Most REO sellers will be fairly reasonable in granting concessions once you are in escrow. You have to understand that the bank does not want to have to start the entire process over again if you cancel escrow. They lose not only 30-45 days, they calculate it costs them about 3% per month to carry a property in inventory.
Sounds like the seller is represented by one of what I call REO mills here in town . They want everything done on their terms and often don’t play by the rules. Many of the brokers selling REOs are really good to work with, but a few, well, it’s like pulling teeth.
Hang in there, you were able to get an offer accepted and are in escrow, which in itself is a feat.
Jay Gedanken
Broker
CA DRE Broker # 01416735
858-605-5839
jay@SaveYouCash.com
Sounds like your agent is doing the right things.
In my experience, especially when the delay has been caused by the seller, I have never had a buyer charged per-diem for not closing in time. It is always best to get the waiver in writing to protect yourself.
Most REO sellers will be fairly reasonable in granting concessions once you are in escrow. You have to understand that the bank does not want to have to start the entire process over again if you cancel escrow. They lose not only 30-45 days, they calculate it costs them about 3% per month to carry a property in inventory.
Sounds like the seller is represented by one of what I call REO mills here in town . They want everything done on their terms and often don’t play by the rules. Many of the brokers selling REOs are really good to work with, but a few, well, it’s like pulling teeth.
Hang in there, you were able to get an offer accepted and are in escrow, which in itself is a feat.
Jay Gedanken
Broker
CA DRE Broker # 01416735
858-605-5839
jay@SaveYouCash.com
|
MVPs or 'Most Valuable Players' are key Trulia Voices members who have been contributing high-quality content throughout 2008 and providing valuable advice to consumers and real estate professionals.
|
|
|
Founding members are a small number of participants who submitted content at launch of Trulia Voices to kick off community discussions.
|
|
|
Your question:
Max. 200 characters
Name:
Email:
|
|
Share profile
Contact Jay Gedanken
Jay Gedanken is a member of Trulia Voices:
Get the inside scoop on your area and home buying and selling.
Ask and answer questions about real estate.
Build your profile and contact home buyers, sellers and agents.
Report this profile
|
|
|
|
|||||||||||
|
|
|
|
|
|
Copyright © 2009
Trulia, Inc. All rights reserved. |
Fair Housing and Equal Opportunity
Fair Housing and Equal Opportunity
Help us improve our service—send us feedback
3 Comments