After Closing - Dealing With Buyers
Mark Blosser
5 years ago
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Linda
5 years agoRelated Discussions
Buyer Can't Close! Banks Are Crazy!
Comments (54)It IS a vicious cycle FeedingFrenzy. Every time the banks turn down one of my buyers, all different banks, all different reasons, I lower the price of my house to get it to happen and then I have to get the seller of the house I'm trying to buy to lower his price because I don't have as much money as I did. All this playing around the banks are doing, leading people on, pretending they will lend mortgage money, is costing a lot of money. Wasted money. Me, my buyers, and agents who have been trying to sell the houses I've been trying to buy, have spent money on advertising, lawyers, title work, inspections, even gas... cutting into our "profit", and in some cases, like the seller of the first house I was in contract on, putting people further into a hole. That lady was under financial difficulties and the bank rejecting my buyer two days before closing really hurt her. Which hurts the economy. And it's all a waste because they're rejecting people who are good buyers. Brickeyee, I'm not going to argue with you about the quality of the buyers. We've been through it. They're good. By the way, the well/septic inspector wanted me to pay when he did the inspection and not at closing. He said too many of them don't close and he doesn't get paid. The buyer I'm on now is missing the second closing date tomorrow because, for one thing, the bank wants to know how many hours per week he's working at his new job that THEY made him get. How many HOURS HE'S WORKING PER WEEK?! Do they want to know what time he takes his coffee break?!And so I'm probably going to lose the house I'm in contract on because this is the third time I can't close and so that guy will probably lower the price of that house when he puts it back on the market. And so on and so on and so on. But the bank CEOs are still giving themselves big bonuses....See MoreBuyer wants walk through day before closing
Comments (37)We have bought several homes and only sold one and in each transaction, there was a walk through day of or day before closing. We close on the purchase of another house next week and the sellers have been super nice and accommodating in letting us see the house multiple times thru out the 7 weeks after contract signing. They even allowed us to store our new sofa and cabinet in their garage last week. (We‘re moving from a townhouse two miles away to a SFH.) I offered to sign a statement waiving their liability for damage to my furniture but they were ok without it. We close at 11am next Monday, and I know we can’t get the house keys until after all the paperwork is signed and settlement check passed to the title company. I’m tempted to ask the seller if we can move some boxes of household items (not high value) and keep them on the covered back porch one day before closing when we go to do walk thru, but don’t want to take advantage of their generosity any more than we already have. i may have my contractor come with me to the walk thru so he can get measurements and evaluate the powder room for a total remodel....See MoreBuyer complaining after closing
Comments (12)I agree with Sylvia. If you used an attorney for your closing, contact him/her about what's going on. If you didn't use an attorney, retain a real estate attorney so you're prepared. If you retain an attorney, then all correspondence will be between the attorneys and the buyer can't contact you at all. Just a note. My wife used to be a claims supervisor with a large insurance company. Many times a claimant would make up a letterhead with some attorney's name thinking that an attorney will intimidate her. (It never worked since the adjustors are friends with all the attorneys) But she always said that once an attorney is involved, all direct contact with the claimant ends....See MoreBuyer backed out of deal because of bad information from inspector.
Comments (9)I don't know if this is helpful, but when we put our house on the market my Realtor insisted I be present during any inspections because we had an older house. I did not inject myself into the inspection but I did listen and watch. There were a couple of things I knew were incorrect and spoke up immediately. One was a large crack in our fireplace. It happened years before and because we always used the fireplace and had it cleaned yearly I offered to have the chimney company speak to the inspector. I was prepared for the question about the crack. The inspector had said to the buyers that the chimney was cracked and would need to be replaced. I disagreed and then offered to call my chimney company. The inspector refused to speak to the chimney man and I then said to the buyers, they could speak to the chimney man, so he could explain the crack was in the facade of the stone and had no impact on the chimney. It was purely cosmetic. We had a large, in-ground pool. The inspector did not know how to turn it on to test the pump. I walked out to the yard and showed him how it worked and turned it on. All went well with that. The house had a well. The inspector turned on all the faucets including the tubs when he first arrived. Water was pouring from every bathroom (4) and kitchen. After an hour the water stopped. He said the well was bad. I overheard and explained we had an automatic shut-off in case a hose or leak took place. I went to the basement and showed the inspector where the shutoff was. I turned it back on and the water stared pouring out again. The inspector was annoyed I was there. The buyers were not. I gave the buyers the last cleaning I had done on the fireplace with the number of the company we had used for 30 years. After the inspection was over, the buyers thanked me and I found out the next day they called the chimney people. They accepted the report from them and bought our house. You might want to be present during inspection. You can insist on it. Jane...See Morefunctionthenlook
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