Is my agent rushing me during escrow?

Asked by Redondocali, Los Angeles, CA Sat May 2, 2009

He says there are time frames to be met and other broker saying there is somebody else with more money waiting, which i thought they can take away...or are they just as frustrated as me

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8
Lacy Burke, Agent, Los Angeles, CA
Sun Jan 6, 2013
there is a lot to do in Escrow but its all very manageable. Take a deep breath and ask your realtor everything that needs to be accomplished and in what time frame and he/she will walk you through the process. Soon enough you will be in your new home! Congrats! Great question!
1 vote
Dorene Slavi…, Agent, Torrance, CA
Sun Apr 15, 2012
Dear Redondo,
The Purchase Agreement which you signed, does have certain time frames included in it. You should not feel rushed however as most escrows are 45 days long. This is enough for most inspections, disclosures,contingencies etc. to be met. Try to follow the Escrow company instructions exactly and you should be allright. In my experience that is where most problems occur. Also, please do consult with your Buyer Agent who is a Voice of Reason through this time.
1 vote
Douglas Lagos, Agent, Los Angeles, CA
Mon Jan 14, 2013
It's post is 3 years old.
0 votes
Agnes Rosiak, Agent, Manhattan Beach, CA
Thu Mar 22, 2012
Any good agent would prepare you for escrow process ahead of time. You should not feel rushed during the escrow, you simply should follow the steps that were explained to you at buyer's consultation.
It is very important to do your homework before you find that perfect property so you can avoid unnecessary stress later on.
0 votes
Sky Minor, Agent, Los Angeles, CA
Wed Sep 9, 2009
He's right, my friend. You've got to poop or get off the pot once you're in escrow. Do yourself a favor and make the decision right now if you really, truly want this property or not. If you do, then do absolutely everything your agent AND loan officer tells you to right away or you probably won't get it and two years later when the place has gone up 20% you'll be kicking yourself.

Reality checks are free, all others must pay cash.

Thanks!
SKY MINOR
Broker, Preferred Realty and Loan
Cell 310-709-8283
Efax 888-866-8798
http://www.preferredrealtyandloan.com
Web Reference:  http://www.skyminor.com
0 votes
Mission Viejo…, , Mission Viejo, CA
Mon May 4, 2009
As the others have told you, you can't sit on it and wait. The first few days of escrow are very busy and if you didn't do get pre-approved you are running behind now. Get it done as quickly as possible then breath!
0 votes
Alexandra Pa…, Agent, Montebello, CA
Sat May 2, 2009
Hi Redondocali,

When your agents states that their are dead lines he is completely being honest. Right now there are a lot of buyers looking at property, and if you don't hurry you might lose out on a house you really like.

One important thing when working with an agent is trust. You need to have trust in your agent, if you don't you should interview different agents. If you need to interview someone, you can contact me alexandrasellshomes@yahoo.com or (323) 482-0705

Thank you
0 votes
Grace Hanamo…, Agent, Cupertino, CA
Sat May 2, 2009
Hello Redondo and thanks for your question.

Your broker or agent is absolutely correct that there are deadlines to meet when purchasing a home. In fact, we (as agents) don't call them "hurdles" without good reason. The first of your time deadlines will involve taking money to the title company, then increasing your deposit, followed by reports, removing contingencies, getting financing (which has its own specific time lines) and then signing off. It may seem like a long time, but 30 days whips past like a sheep in a tornado.

If you are purchasing an REO property, and I suspect you may be, the contingency removal time typically shortens from 17 days to just 7 days. That means rushing to get all reports, and then rushing to remove contingencies. If you fail to meet the deadline--as many of these REO sales addendums state--the home can automatically be sold to the next person waiting in line or you give up your right to cancel the contract based on an issue within the report.

If you feel that your agent is rushing you along too quickly, sit down and meet with him or her and ask why things need to move so quickly. Again, if this is an REO, the time lines shorten drastically, and your agent will be able to explain why the times lines are shortened, and the time when everything must be completed.

Good luck and happy home ownership!

Sincerely,
Grace Morioka, SRES, e-Pro
Area Pro Realty
San Jose, CA
Tel 408-426-1616
0 votes
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