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Home Buying in 85017 : Real Estate Advice

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  • Home Buying2
  • Home Selling1
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Activity 2
Fri Aug 19, 2011
Pamela Combs answered:
You really need to get some legal advise. It is my understanding if the buyer does not wish to cancel the contract they can make you sell. They can even sue you if that is what it takes. ... more
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Tue Dec 16, 2008
Dp2 answered:
Actually, one doesn't always have to go with the title company of the bank (that owns the REO). In fact, many lenders will INSIST--or at least strongly recommend--that one uses a title company that already has a relationship with it. I insist on using my own or the lender's title company, because some banks will bury a clause within either the contract or addenda stating that the buyer will accept a title abstract in lieu of the actual title. A title abstract and title are 2 different things. I'll spare you the details--just know that you want the actual title.

Carlos is also correct that many banks are "behaving is border-line abusive" manner; they do it because they can, and because they know most consumers will sign the dotted-line without exercising their right to negotiate. However, now you're empowered, because you do know, and you'll be able to stand your ground with confidence.

Of course, I must admit I've had several listing agents to write me that a particular bank wouldn't accept my offer or some of my modifications. I kindly--but firmly--asked them to submit my offers/counter-offers as-is anyway, and told them the bank will counter or reject my offer/counter-offer if they didn't like my terms.
... more
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