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clwp
Love my girls!
Member since 10/06 2114 total posts
Name:
mommy
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A new one in my book - realtor full of it?
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Message edited 8/22/2010 8:38:07 PM.
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Posted 5/10/10 9:03 PM  |
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Prudential Douglas Elliman Real Estate
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Mrs213
????????
Member since 2/09 18986 total posts
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Re: A new one in my book - realtor full of it?
I think once they accept your offer, then you get the inspection - why would you do an inspection before making an offer? Maybe some do it differently
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| Posted 5/10/10 9:07 PM |
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clwp
Love my girls!
Member since 10/06 2114 total posts
Name:
mommy
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Re: A new one in my book - realtor full of it?
We have the appointment for the inspection for next week.
The way these people talk you'd think houses are being bought up by the minute. Do they think buyers are dumb? We were following MLS for a while and watched houses sit, take price reductions, open houses week after week, etc. My father has a friend who's been in real estate for 40 plus years... he doesn't even bother with his office anymore (he has the money he doesn't have to really, and he owns the company), he said no one is buying. I know a few of you and I am, but overall, houses aren't hot potatoes anymore. They really try to pressure people. I have to ask my dad's friend about what we were told.
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| Posted 5/10/10 9:15 PM |
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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Re: A new one in my book - realtor full of it?
I have an accepted offer - in writing and signed on both ends - and haven't had an inspection yet.
The inspection is the next step, usually.
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| Posted 5/10/10 9:20 PM |
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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Re: A new one in my book - realtor full of it?
Posted by clwp
Thought this is what a lot of people do, buy a starter house, live in it a few years and upgrade with the equity. The realtors look at us like we have 5 heads each! And we wonder why the housing market is what it is. Crazy! This realtor wants us in contract tomorrow and closing by Friday... it's unreal.
Don't feel badly. 
I hear what you mean, but in the same sense - don't bank on upgrading with equity.
I've also seen homes with 60k gourmet kitchens they installed, and sadly, the value of their home hasn't increased due the market.
I've seen homes that didn't have many upgrades, and their homes are still priced low due the market.
Then again, everyone has different plans and paths they want to take.
I think the market will still be rough in 5 years, maybe a bit better, but still rough.
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| Posted 5/10/10 9:25 PM |
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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Re: A new one in my book - realtor full of it?
Posted by clwp
We have the appointment for the inspection for next week.
The way these people talk you'd think houses are being bought up by the minute. Do they think buyers are dumb? We were following MLS for a while and watched houses sit, take price reductions, open houses week after week, etc. My father has a friend who's been in real estate for 40 plus years... he doesn't even bother with his office anymore (he has the money he doesn't have to really, and he owns the company), he said no one is buying. I know a few of you and I am, but overall, houses aren't hot potatoes anymore. They really try to pressure people. I have to ask my dad's friend about what we were told.
Also, the RE may push the sale for $$$$. The faster those contracts are signed, the faster they get paid, KWIM?
Some houses will sit - especially if the sellers are in denial that their homes are priced to high, for example.
And yes, most (not all) DO think you're dumb. I've been jerked around tons of times so far...gotta stay on your toes!!
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| Posted 5/10/10 9:28 PM |
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clwp
Love my girls!
Member since 10/06 2114 total posts
Name:
mommy
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Re: A new one in my book - realtor full of it?
by equity I meant our current home.. we made some money off of what we put in now that it sold. sorry if I wrote that wrong.
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| Posted 5/10/10 9:42 PM |
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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Re: A new one in my book - realtor full of it?
Posted by clwp
by equity I meant our current home.. we made some money off of what we put in now that it sold. sorry if I wrote that wrong.
sorry, i read it wrong but now I see!
it definitely sounds like you are being rushed.
As far as I know, you can have an accepted offer without an engineer report, though.
..I shall send you good home vibes! 
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| Posted 5/10/10 9:48 PM |
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clwp
Love my girls!
Member since 10/06 2114 total posts
Name:
mommy
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Re: A new one in my book - realtor full of it?
LOL.
Thank you though, just emaled the realtor back and ripped her... I told her I'm not buying her story and will be verifying it with LIBOR. I also told her we want a copy of not only what we signed, but what the seller signs accepting our offer... I told her if not we will assume the seller isn't being serious about selling (after all isn't this what we buyers have to hear about ourselves) and we'll hold on to our $500 inspection money for another house.
Happy home vibes to you too... It's so frustrating... who has time for this - LOL
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| Posted 5/10/10 9:54 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: A new one in my book - realtor full of it?
Verbal offers, "firsts", and binders don't mean jack until the contracts are signed.
So don't bother stressing over the Realtor's B.S. If you feel comfortable getting an inspection, get it. Nothing is set in stone until the contract is signed by both parties.
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| Posted 5/10/10 10:05 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: A new one in my book - realtor full of it?
Posted by clwp
Thank you though, just emaled the realtor back and ripped her... I told her I'm not buying her story and will be verifying it with LIBOR. I also told her we want a copy of not only what we signed, but what the seller signs accepting our offer...
What is this going to really accomplish besides piss off the sellers? You can pay for your inspection and they can still not sell the place to you, even if the sellers sign something that is not a legally binding RE contract.
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| Posted 5/10/10 10:07 PM |
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clwp
Love my girls!
Member since 10/06 2114 total posts
Name:
mommy
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Re: A new one in my book - realtor full of it?
Posted by ave1024
Posted by clwp
Thank you though, just emaled the realtor back and ripped her... I told her I'm not buying her story and will be verifying it with LIBOR. I also told her we want a copy of not only what we signed, but what the seller signs accepting our offer...
What is this going to really accomplish besides piss off the sellers? You can pay for your inspection and they can still not sell the place to you, even if the sellers sign something that is not a legally binding RE contract.
No, no... sorry, not what I meant. I am checking with the Board of Realtor's. If this is common, legal practice I just want them to know that we will pursue the engineer if the offer is serious. I mean, the seller did counter our first offer and we accepted the counter 100%. Mind you they asked for $5k more than our offer and 19k less than asking price. The realtors make it sound like they are doing us a favor. We were prepared for a higher counter, but of course happy it came in only $5k more. Anyway, I wrote her saying I'm not trying to be combative but we are frustrated with being viewed as the "evil buyer who can't be trusted" when we've provided commitment letters and signed all their papers, etc. I just said that I want to ensure this is a serious thing before we invest and to let her know I'm not trusting her entirely and will do my research. I will be happy to talk to her on the phone, I'm not a "yeller", I just question things especially when they seem to feel like I"m being sold hard. I mean, who is hiding what. That's all. Sorry about that.
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| Posted 5/10/10 10:20 PM |
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SummerMom
Now a mom of 2!
Member since 6/07 4970 total posts
Name:
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Re: A new one in my book - realtor full of it?
In NY, even after you have an accepted offer the house is still "on the market" and either party can walk away. The sellers can still show their house. I've heard plenty of stories here on LIF of people freaking out because they had an accepted offer and the sellers held an open house the next weekend, before signing anything, to see if they could get even bigger bites. You'd like to think that sellers would be nice and fair, but when it comes to money you never know.
That's why it's so important to get those contracts signed! And you're not signing anything until you get that inspection, which is why I think your RE agent is pushing for that to be done quickly. If you keep delaying and the owners start thinking they can do better than your offer, you could lose the house. Even after an accepted offer.
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| Posted 5/10/10 10:57 PM |
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clwp
Love my girls!
Member since 10/06 2114 total posts
Name:
mommy
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Re: A new one in my book - realtor full of it?
If they wanted more they could have countered higher or not budged off asking price if it meant that much to them - we were prepared. Just my thoughts. I know from the sale of our house, yes we had 2 offers for the same amount at one point. So the one that would have come in higher would have gotten it. Well, whatever... we will see. Fortunately I'm not the type to get to excited about these things until they are done. This was purely a rational decision, little emotion. Emotion would make me want to stay put actually as I like my house a lot and will miss it a lot, I just know we need more space. Lots of good memories in this little place!
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| Posted 5/10/10 11:34 PM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: A new one in my book - realtor full of it?
Sorry but this is a common practice
Most brokers won't put an "accepted offer" on a house until the inspection is done
Once the engineer report is complete then they will sale - first accepted - no more shows
This protects the seller and that is the listing agents job-
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| Posted 5/11/10 7:08 AM |
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Re: A new one in my book - realtor full of it?
Not all Realtors are the same.
The Realtor you were dealing with may have presented it in a better way.
Let me explain: What if the Sellers Realtor said this:
To be honest and fair with you, I have to let you know, I work for the seller to get the highest and best price. I would do the same if I were working for you.
Even though the seller and you have both agreed on a price, I cannot guaranty that if a higher offer comes in the seller may request a counter offer from you. The way to prevent this is to expeditiously have your inspection complete and get formerly contracts signed.
I do not know if it sound better, but I triy to be honest, because it does happen.
If we stay professional and explain the procedures, it works better for all.
You as the buyer have the right to wait until it is convenient for you to have an inspection. No one should rush you.
The seller has the same right to work with another buyer until formal contracts are signed.
Good Luck
Arthur
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| Posted 5/11/10 11:24 PM |
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neener1211
:-)
Member since 4/07 22952 total posts
Name:
J
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Re: A new one in my book - realtor full of it?
Your realtor is pretty much right. You can have an accepted offer, but until you have the engineer's report and the contracts are signed after that, the seller can accept other offers.
So if you want the house, you want to get the inspection done ASAP so that the contracts are done ASAP so that no one else can slide in and take the house from you.
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| Posted 5/12/10 9:06 AM |
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DMT
LIF Adult
Member since 6/05 2277 total posts
Name:
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Re: A new one in my book - realtor full of it?
Posted by ave1024
Verbal offers, "firsts", and binders don't mean jack until the contracts are signed.
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That is what I was going to say as well.
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| Posted 5/12/10 9:23 AM |
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lullabella
LIF Adult
Member since 5/05 2246 total posts
Name:
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Re: A new one in my book - realtor full of it?
BS since you dont even have to get an inspection if you dont want too.
But you are not in the clear until you sign contracts because they can back out or take a better offer.
Message edited 5/12/2010 10:04:52 AM.
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| Posted 5/12/10 10:03 AM |
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