| Posted By |
Message |
hunnybunnyxoxo
this is what it's all about
Member since 11/07 3321 total posts
Name:
Lisa
|
do i want this guy as my real estate agent?
sorry if this is long!!!
ok, so this REA i've been emailing seems to be very thorough and efficient.
i have never met him and i wasnt referred to him by anyone. i had inquired about a house and ever since then he has been sending me daily automatic listings of houses in my range etc and answering questions.
he seems very systematic .
his one rule is to get preapproved before stepping foot in a single house. i agree with this. i understand the reasoning behind this.not aruging that.
what is holding us back from getting preapproved is our a$$hole accountant who has not yet completed our 2009 taxes.- we hope to get them back by next week.
my husband has a 4 year old LLC . his 2009 returns are way different from 2007/2008.. we really want to get preapproved with 2009/2008 taxes..
anyhow, while we wait for our taxes we saw a DIRT cheap townhouse that we want to check out and he does not want to show it to us until we get preapproved.
everything is happening so fast, the house we live in is being sold, we are living with our mother in law at the moment while my husband works on jersey shore (camera/camera assist) so for the time being i want to do a little poking around- and i am talking houses that are well within our range. this guy does not want to budge. time is of the essense and i just want to start honing in on some houses that have been sent to me.
i am asking: do i want to keep him as my REA b.c he is so thorough for my own good or should i find someone that will be just as thorough and a little compromising with my predicament.
ifeel like in the long run he could really steer me in the right direction but i just hate that he wont work with me right now.
tia
|
Posted 9/3/10 11:52 PM  |
| |
|
Long Island Weddings
Long Island's Largest Bridal Resource | Prudential Douglas Elliman Real Estate |
Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
|
Re: do i want this guy as my real estate agent?
I'd send him a quick email
"If you cannot show me this house I will be contacting another agent tomorrow morning at 9 a.m. --- Your call. Have a nice night."
You owe him NOTHING. I understand the need for the preapproval, I've been down that road before, but you have a valid reason for holding off and if he is unwilling to show you the house then you have every right to contact someone else to show it to you.
You have no contract with him and no obligation. I wouldn't let an opportunity to see something that 'may be the one' slip away
|
| Posted 9/4/10 12:01 AM |
| |
|
Tine73
Member since 3/06 22093 total posts
Name:
*********
|
Re: do i want this guy as my real estate agent?
My guess is is that he wants serious buyers that won't waste his time, but if he refuses to show you a house, I'd find someone else.
|
| Posted 9/4/10 12:18 AM |
| |
|
Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
|
Re: do i want this guy as my real estate agent?
I'm kinda torn. Honestly, without a preapproval letter, even if you make an offer the seller's agent is probably going to put you at the bottom of the list. Anyone who makes a similar offer and has a preapproval letter is probably going to get the place. I don't think a seller's agent would advise their client to proceed without a preapproval letter, especially if there are other offers on the table.
I would light a fire under your accountant quickly, as 9/15 is a major corporate deadline so if you don't get your return very soon, you are probably looking at the end of September, at least.
|
| Posted 9/4/10 7:06 AM |
| |
|
|
|
Re: do i want this guy as my real estate agent?
WOW!!!
I think you have found an Agent that is on top of his game.
Just take note that a pre-approval letter is not a mortgage commitment.
He needs to know who you are and what you can afford. Your taxes do not need to be completed to have a mortgage pre-approval letter.
I would meet with him at a mutual convenient location and discuss your issues. This way you feel confident working with him. Ask him to bend a little and show you this property. Face to face is always better.
How many good agents, that have great follow up do you know? You want him on your side when making your next purchase.
Here to serve,
Arthur
Message edited 9/4/2010 7:12:17 AM.
|
| Posted 9/4/10 7:10 AM |
| |
|
bookworm
Two Little Rosebuds
Member since 8/09 2106 total posts
Name:
|
Re: do i want this guy as my real estate agent?
Posted by Elbee
"If you cannot show me this house I will be contacting another agent tomorrow morning at 9 a.m. --- Your call. Have a nice night."
i agree that you should probably take a hard line stance with him and demand to see the house.
as far as preapproval, i don't get it. there was a lot of paperwork that wasn't available to us on the spot (including tax returns), but we knew the figures. our mortgage broker plugged them in and gave us the preapproval. everything that was missing at the preapproval stage was part of the conditions on the commitment letter. i can recommend some wells fargo people if you want. that's who we went through.
i think you may want to find a new person for the mortgage, and play a little hardball with the agent, albeit diplomatically if you want to keep him.
|
| Posted 9/4/10 8:28 AM |
| |
|
Elbee
Zanzibar
Member since 5/05 10767 total posts
Name:
Me
|
Re: do i want this guy as my real estate agent?
It may be that since her DH has his own business there are no paystubs to go off of to get preapproval? I cannot remember what they required, although I do remember doing it over the phone with one person so I don't think they saw anything tangible except my credit score (through my SS#)
Either way, it's nice that he wants the preapproval so that you show as a serious buyer to sellers, but the truth is, it's not a mortgage commitment and in these economic times it doesn't mean you will even get a mortgage.
|
| Posted 9/4/10 8:41 AM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: do i want this guy as my real estate agent?
Find another agent.
I had something similar happen to me. I was working with a buyers agent. She started showing me some houses. Then she demanded that I get a pre-appoval. I told her I had PLENTY of liquid assets in the bank (well above the 20% needed - even before I sold my house). I was even willing to show her some bank statements. Anyways she still insisted and then I went and got a pre-approval from my mortgage broker.
She then wanted me to get a pre-approval through HER guy. Screw that. I have no intention of working with her guy, so I was not doing that. She then decided to not show me any houses that she felt were beyond our budget (again she has NO CLUE what my finances were). She also wanted to wait until I sold my house.
Needless to say, I fired her after I reported her to the broker. I hired another agent that sold my house in a week. Had no problems showing me houses I wanted. I ended up buying a super cheap house anyways that I planned on dormering. My new agent even lowered his commission on the house I was buying (since I gave him my sale) which put a couple extra dollars in my pocket.
This former agent lost a LOT of money for being really dumb.
|
| Posted 9/4/10 12:38 PM |
| |
|
DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
|
Re: do i want this guy as my real estate agent?
That is ridiculous. I hate to say it but there are MANY realtors out there. I would contact another one to show me the townhouse.
If this REA is not willing to take your word for and cannot see this opportunity--his loss.
I mean your home is sold, you HAVE to buy as you are living with in laws-seems wierd to me.
I look at houses right now, my current home is not even on the market yet and still REA's take me to see homes!
|
| Posted 9/4/10 12:47 PM |
| |
|
Kara
Now Zagat Rated!
Member since 3/07 13217 total posts
Name:
They call me "Tater Salad"
|
Re: do i want this guy as my real estate agent?
Posted by Karen
I'm kinda torn. Honestly, without a preapproval letter, even if you make an offer the seller's agent is probably going to put you at the bottom of the list. Anyone who makes a similar offer and has a preapproval letter is probably going to get the place. I don't think a seller's agent would advise their client to proceed without a preapproval letter, especially if there are other offers on the table.
I would light a fire under your accountant quickly, as 9/15 is a major corporate deadline so if you don't get your return very soon, you are probably looking at the end of September, at least.
In this market, there aren't a whole lot of properties with multiple offers. I'd accept an offer without preapproval, providing the buyer gets pre-approved by contract or within a specified period of time. Until the contract is signed, the house is still on the market and can still be shown. And preapproval isn't everything - They are easier to get than actual mortgage commitments.
Curious, though -- why do you need to wait for your taxes to be done to be pre-approved? It shouldn't have any bearing on your preapproval chances... unless I am missing something.
|
| Posted 9/4/10 6:29 PM |
| |
|
JandJ1224
Member since 6/06 5911 total posts
Name:
Jannette
|
Re: do i want this guy as my real estate agent?
Maybe you can ask this RE agent who he recommends for mortgage pre-approval, if he works with someone then they might be able to get you that preapproval without the tax return being filed yet.
You can always call the mortgage guy that I recommend too, his name is Pat Marabella with Continental Home Loans and his number is 631 390 6368
But if there is something that you really want to see and this guy isn't budging call the listing agent, assuming you haven't signed a buyer agent agreement already
|
| Posted 9/4/10 10:14 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: do i want this guy as my real estate agent?
Posted by Kara
.
In this market, there aren't a whole lot of properties with multiple offers. I'd accept an offer without preapproval, providing the buyer gets pre-approved by contract or within a specified period of time. Until the contract is signed, the house is still on the market and can still be shown. And preapproval isn't everything - They are easier to get than actual mortgage commitments.
Curious, though -- why do you need to wait for your taxes to be done to be pre-approved? It shouldn't have any bearing on your preapproval chances... unless I am missing something.
FYI-no one is accepting offers in this market with out pre-approvals
I fax the pre-approval with every binder- and sometimes a bank statement showing proof of funds for the Down Payment
On Short sale or Bank owned - you offer wouldn't even be submitted with out all the the above
Her DH is self-employed- those loans are very hard to get right now and the tax returns are needed since he does not have pay stubs
|
| Posted 9/5/10 9:52 AM |
| |
|
hunnybunnyxoxo
this is what it's all about
Member since 11/07 3321 total posts
Name:
Lisa
|
Re: do i want this guy as my real estate agent?
sorry, i havent been on all weekend
thanks for your responses.
the hosue that i live in now that is being sold is my mother in law's house.
as for preapproval, things are different with us b/c dh has an LLC.so, we cant cant preapproved till we have a our tax returns...
the mortgage guy the REA referred me to said he could sccpet 2007/2008 returns but he rather the 2009/2008 which i completely agree with.
my rea is just being a stick in the mud b.c he wants to make sure we are preapproved first.
and i wouldnt make any sort of offer without being preapproved first. but for now, i jsut want to see some houses.
i guess he doesnt want me wasting his time in the event things dont pan out right...
|
| Posted 9/5/10 2:15 PM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: do i want this guy as my real estate agent?
Posted by Beth
FYI-no one is accepting offers in this market with out pre-approvals
I fax the pre-approval with every binder- and sometimes a bank statement showing proof of funds for the Down Payment
On Short sale or Bank owned - you offer wouldn't even be submitted with out all the the above
Her DH is self-employed- those loans are very hard to get right now and the tax returns are needed since he does not have pay stubs
A pre-approval isn't worth the piece of paper it's written on. I have literally had plenty of banks and brokers tell me "you need a pre-approval? I'll write you one right now."
What does that tell you? If they are willing to do this for me, they are willing to do it for others. And as a seller... how do I know if the buyer is showing up with a "legit" pre-approval. Hence the reason why it really isn't worth anything.
As a seller, if someone presents an offer to me that I like and they DON'T have a pre-approval, I can contingently accept the offer and tell them they have a week to get me a pre-approval.
I am not going to just turn down offers that don't have pre-approvals. That would be really dumb. I didn't have a pre-approval when I was house shopping. It wasn't like sellers were turning me away. Mainly because my RE agent was basically telling the seller's agents that "my client has the cash and will get the deal done".
Short sale/Bank Owned is different. But for the regular house for sale, it's not really a big deal. And any RE agent that turns down offers without pre-approval are doing their clients a disservice.
|
| Posted 9/6/10 10:56 AM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: do i want this guy as my real estate agent?
Posted by hunnybunnyxoxo
the mortgage guy the REA referred me to said he could sccpet 2007/2008 returns but he rather the 2009/2008 which i completely agree with.
Why don't you get pre-approved on the 2007/2008 numbers then? You can always amend the pre-approval down the road.
|
| Posted 9/6/10 10:59 AM |
| |
|
DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
Name:
DiamondMama
|
Re: do i want this guy as my real estate agent?
I also wanted to add that IMO this REA is not making a smart decision bc you might not buy THIS home but in the future you could buy another home with him as your buyers agent. To hassle you and not show you a house w/o preapproval seems like a bad business decision.
I was working with an REA this summer, my home is not even on the market yet. But he took me around the area I wanted so I could "do research" and hope that in the future when we ARE ready to sell and buy we will use him. And bc he was so helpful--WE WILL!
|
| Posted 9/6/10 11:02 AM |
| |
|
