Your frustration is understandable. REO properties can take a long time to obtain a response but the agent should be in contact with you as to what is going on even if it is a call to tell you he knows nothing. There is no excues for not returning a call in a timely manner. Be patient and if you do not receive a call back, call the broker manager of the listing company and ask for their help.
It is always best to find an agent you are comfortable with to represent your best interest. It does not cost you anything to have a Buyers Agent and you then have someone representing your best interest.
If you need any assistance in the future feel free to contact us.
Donna Hermsen & Dan O'Brien
Bunbury & Associates Realtors
We agree that it is inconsiderate to not return your calls or keep you updated on your offer. Unfortunately banks have little consideration for the needs of the public and less regard for deadlines other than their own.
Was a deposit check submitted with your offer?
Was a pre-approval letter for funding submitted with your offer?
Banks will normally not consider your offer without this information being included with your offer.
Sorry to hear about your frustration.
It is hard to assume what is happening on the other end but REO properties can be a very frustrating process while others can go quite smoothly, depending on financial istitution.
Try to be patient. See if you can e-maill them. Maybe they will respond quicker to that type of communication.
As a suggestion - A buyers agent would be working on your behalf, being that buffer and helping eleviate some of that stress and at no cost to you.
Good luck with your search, if you have any other questions feel free to email or call. I have almost 10 years of full time real estate experience.
To answer a few of the questions:
1. No, I am not working with the agent who showed me the house. He is not representing me as a buyer's agent. I had my attorney draft the offer and deliver, but I have been the primary point of contact.
2. I didn't bypass the agent to make my offer, I told him my attorney would be drafting the offers and I would just need him to show me the house. He will most certainly get his share of the commission if this goes through.
This broker is Century 21. I have a very bad taste in mouth about this experience... Not because the bank is taking awhile, but lack of communication from the agents.
I'm sorry to hear that you are having a frustrating situation with your offer. I can't explain why they wouldn't call,
but considering you have an offer on a REO property, it is possible that it could take up to a week for the bank to even get back to the agent with a response. I currently have an offer in for one of my clients and the listing agent said very clearly in their offer instructions- DO NOT CALL agent, we will call you when we have an answer, expect minimum of 5-7 business days for response. At least my Buyer and I know what to expect.
You say that your Attorney wrote your offer, are you not working with the agent that showed you the house? You may want to have your Attorney make a call on your behalf. I guess I would pursue it that way, or contact the listing agents office manager, and express your concern.
Hope things work out for you.
Yes they should at least call you back. I am sure it is frusturating. Most bank offers are submitted online and the asset manager for the bank will respond with a day. (This has been the case with the banks I work with) I would call the manger of the office. Hopefully you arent dealing with a first weber agent. :)
Let me know if you have any other questions.