bought a house sept,contract said 500$ for repairs, at closing sellers agent said this wld be handled outside closing, never got $ no word from agents

Asked by Kisha Moragne, 78746 Tue Jan 4, 2011

during negotiations was told by my agent money could be used at closing, at closing seller agent(fannie mae) emailed and said no would have to be handled outside of closing. I have contacted agents mine and seller and have heard nothing from them for months, what recourse do i have now?

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Bill Austin, Agent, Austin, TX
Mon Jan 10, 2011
Did you get this resolved to your satisfaction?
If not contact me directly for assistance.

0 votes
Bob Kenney, , 78746
Wed Jan 5, 2011
sorry you had this experience. Your agent and seller agent should have made sure it was either part of addendum to contract of included in special provision and t should have been noted on your HUD 1

if you have an email or some written correspondence from the agent(s) i would suggest contacting the sales manager for your agents firm and let them know it was never attended to. This will get you some response from the agent.

hope this gets resolved for you.

bob kenney
0 votes
Kathy Weber, Agent, Murrieta, CA
Tue Jan 4, 2011

Another strategy would be to review your contracts and see how the repairs were written in. If you notice they were written in your contract, and you still don't have a response from either agent, you could contact escrow directly to find out about the funds. At times, issues such as this are overlooked by the escrow officer and could have accidently been credited to the seller. Your final "HUD", or settlement statement will specifically state where all monies were disbursed. As with all transactions, it's not wise or legal in most states to settle monies "outside" of escrow.

If this is not the case, and you have "written" documentation of stated repair issue being paid by the seller, you could go directly to "both" broker's of the agent to resolve and receive guidance on the monies.

Without seeing or knowing the exact paper trail on such negotiations, it's hard to determine the exact solution. As stated previously, a consultation with a RE attorney may be required to settle this situation.

Best of luck!
0 votes
Dallas Texas, Agent, Dallas, TN
Tue Jan 4, 2011
No virtual opinion can rendered due to fact entire sales agreement must be reviewed.

Confer with an attorney OR file in small claims court

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes
Laura Feghali, Agent, Stamford, CT
Tue Jan 4, 2011
Hello Kisha,
If this $500 repair clause was written into your contract then it should hav been given to you at the closing. Make sure that you have all the documentation regarding this issue and first discuss it with your agent's Broker (his boss so to speak). If they cannot resolve this for you then you should consult an attorney about filing a claim in small claims court.
I hope this is helpful.
Good luck to you!

Laura Feghali
Prudential Connecticut Realty
0 votes
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