Home Buying in New Hampshire>Question Details

vcbc26, Home Buyer in Rindge, NH

Realtor possible conflict of interests.

Asked by vcbc26, Rindge, NH Tue Mar 11, 2014

am buying a foreclosed property for which the bank has already accepted my offer. The realtor the property was listed with was at first very helpful, then when we walked together through the house he looked very surprised at the size and condition of the property and kept saying that he didn't realize how big it was or that it had an in-law apartment attached to it. apparently he had assumed that it was a dump and it really wasn't! We later found out that he flips houses with a friend of his who works in construction. It has been almost 6months since this all thing started and we still haven't been able to close on it, the realtor keeps ignoring our calls or coming up with excuses why this is not moving forward and now is claiming that after dewinterizing the house for inspection he is finding damages that will costs thousands to fix. We are starting to wonder if he wants the house for himself, what can we do?

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5
Tell the guy from Maryland to get out of here :) However he has a great answer on this :) It could be legit, or there could be an issue here. More information is actually needed to decide this. Finding more damage is a very real thing on so many of the bank owned in this area once they de-winterize, but if you have an agent that is working for YOU, it can all be worked out most of the time... It is stressful at times more than it should be, and it does feel like everyone is against you at sometimes.... having good representation is so important.... Are you being represented?
0 votes Thank Flag Link Tue Mar 11, 2014
Sign an exclusive buyer agency agreement with someone that has your interests in mind. It will make a world of difference!
Web Reference: http://hankshomesbg.com
0 votes Thank Flag Link Tue Mar 11, 2014
You are free to hire another realtor to represent you. Hire a buyers agent who will work for you and not the bank.
0 votes Thank Flag Link Tue Mar 11, 2014
Steve is spot on here. You should really have an agent representing your interests as a buyer, called a Buyers Agent. The Sellers Agent represents the seller. If you don't already have a Buyers Agent, you should consider getting one, and it sounds like you might also need an Attorney. But without more information it is hard to say. Like Steve says, it really depends on if you have a contract in place or not.
0 votes Thank Flag Link Tue Mar 11, 2014
A few questions...Are you in a dual agency situation and is the listing agent your REALTOR too? You said the bank has accepted your offer. Are you taking that on your agent's word, or do you have a ratified contract in hand? You also said he's finding damages. Is that coming from him, or a home inspector? If you believe you aren't being property represented, I suggest you contact your agent's broker. Otherwise, you could involve an attorney.
0 votes Thank Flag Link Tue Mar 11, 2014
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