The C Team

Archive for the ‘Real Estate Issues’ Category

Darcy and I have a deal that we thought would sail through, a great buyer with her financing in place, a town home that she absolutely loves and an accepted offer from Fannie Mae.  The problem is that Fannie Mae doesn’t actually own the home yet.  The home was included in the previous owner’s bankruptcy which was filed just prior to the actual foreclosure.  

With all of the foreclosures on the market here and everywhere, the Title company initially thought that it was just a clerical error and that Fannie Mae probably owned the home, but that we needed to verify whether it did or not.  Apparently it doesn’t, at least not yet, the bottom line is that someone screwed up!  Our buyer is a first time home buyer and was looking forward to the stimulus credit to do some repairs to the unit and was sure that she was going to miss out on this opportunity!

I am glad that Congress and the President agreed to extend this program, I will be honest, this is the only part of the bail out/stimulus package that made sense to me.  I would have agreed with money being spent on rebuilding infrastructure, but that is another topic for another blog.  Anyway, there is a sliver of silver lining for our client with this extension passing, now we have more than 3 weeks to get things worked out.

I do hope that no one else experiences this!  I am also very glad that we have Title Companies that really do a good job!  I guess that this is enough of a rant.  I wish everyone a great weekend!

I am not singling out any particular person, but I do think that being a professional has certain tasks that need to be followed.  I have mentioned several times that Darcy and I were out of Cedar City at the UAR Convention.  While we were driving up, Darcy, who answers the phone while we’re driving because my job is to drive, received a phone call from a listing agent telling her that the property that our client put an offer on the previous Friday had gone into a Multiple offer situation.

This is great, we are on Interstate 15, 150 miles north of Cedar City, so she called and one of the great agents in our office, who agreed to meet with our client on our behalf as the broker was unavailable to fill out the clients highest and best offer.  This is great, Darcy had told the listing agent that we were out of town and that we would be back after the convention but to please call her either way the seller decided.  That way our client wasn’t left dangling.

This happened on Monday afternoon.  On Wednesday Morning, Darcy was wondering why she hadn’t heard from the agent, so at a break from the classes, she called the listing agent.  The agent said that our client’s offer had not been accepted, that she had sent the agent from our office the fax.  We knew that this was strange, it was completely out of character for our friend at our office not to call us.  Darcy did indicate that she really would have liked a phone call from the listing agent.

Darcy then called our friend in our office, who was surprised to hear that he had been contacted by this listing agent about our client.  So he checked our box, and sure enough there was a fax in our box from the listing agent addressed to us stating that our client’s offer had not been accepted.  How hard is it to stop and make a phone call??????  Is that the way that a professional acts?  I hope not!  Attitudes like that are sure to bleed into our customer service and, in this case, were we not also the client of the listing agent? 

It is unprofessional, in my opinion, which I know doesn’t mean as much to anyone else as it does to me.  I do think that everyone in a similar situation would agree that if that is what being a professional in this industry is, than we have a really low professional standard!