We had an interesting deal recently with a foreclosure property. After what seemed like forever getting things negotiated, including a letter from a Canadian bank from my foreign buyer, we open title and the fun started. Keep in mind, we have opened title and set a date to close. At this point the buyer has already DEPOSITED U.S. funds with the title company. We get a call from the other agent saying the foreclosure company needs proof of U.S. funds. I told her they were already on deposit with the title company. She said no problem, thanks. Guess what, yep you guessed it. Not handled. Then the title company that the seller choose calls 1 week later and says if my buyer doesn't provide proof of funds by the close of business that day, the foreclosure company will pull the deal.  I actually laughed out loud. I told the title closer they are just too many idiots in the deal. She said, excuse me. I advised her to look at her bank account with the funds my customer had deposited with her 2 weeks previously and then tell me what she thought I meant by my statement. Now it was handled!!

It would be funny, if it were not so sad.

Terry Miller

Miller Realty Associates

"Good Morning with Terry Miller"

 

5 Comments on This happened!!

APR
01
2009
339,635 Points 5 Featured Posts Localism Sponsor Outside Blog

OH you have no idea how many times I have had to "do other peoples" job for them just to get the deal done ./
8:21pm • #1
697,950 Points 15 Featured Posts Outside Blog Called Shot Master

You were extremely fortunate.  I have had seller's (asset manger company)  title company lose funds all the time.  They "lost" the buyer's earnest money which was my commission.  They couldn't find a record of having received it, which meant no paycheck for me.  Boo-hoo.  My broker went limp.  I had to fight them myself.  And won.  Redheads and Irish win again.  I hate being mean, but I hate stupidity more. 
8:27pm • #2
405,512 Points 8 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp

Well, let's see

Today I spend all my energy on trying to find a notary that ran off with my closing papers.

Yesterday I tried to convince a title company that 4.5% of $250,000 is $11,250 and NOT $8993

Monday, I had to flirt with a home inspector to do a very last minute inspection after hours because bank had convinced my  buyer that he did not need one" on an FHA loan.

AND on it goes. It is fun to be a Realtor.
8:49pm • #3
379,043 Points 2 Featured Posts Outside Blog

I think maybe I had a good deal,  LOL
8:54pm • #4
APR
02
2009
187,096 Points 5 Featured Posts

I still shudder over the time the lender called me asking when I wanted to close a transaction that the title company had already funded (recorded and distributed funds too) at least a week earlier...since the rate lock was about to expire. Yep, I'm hyperventilating all over again. :) kate ford
7:47am • #5

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Terry Miller

Miller Homes Group

Tyler, TX

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Miller Homes Group

Address: 724 South Bois D' Arc, Tyler, Texas, 75701

Office Phone: (903) 504-5474

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Miller Realty Associates, your best choice for your Real Estate needs. Call or come by today and see what our resources can do for you.


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