I'm sitting here right now wondering what to do, the house we put an offer on has disappeared!  This whole transaction has been a nightmare, well actually it hasn't been a transaction, we just put an offer in on an REO home.  Cash buyer, clean offer with no contingencies other than home inspection.  Sounds good, but then the house disappeared!

About 2 1/2 weeks ago we put an offer in on one of the Foreclosures in a gated community.  My buyer loved the house, and after taking time to think about it wrote an offer.  It was a clean offer, and a good one, for a property that had sat vacant for about a year.  Anyway after she wrote it I called the Agent to tell him the offer, and ask where to send it.  Ok, offer now sent!

Communication with this Agent has been anything but "good" although his online bio talked of stelliar service, communication, etc.  After several days of not hearing I called him to see if he had heard anything.  OK, we will wait a few more days.  My client, by self proclamation "isn't very good at waiting," but wanted "this" house.

Another week goes by while I am trying unsuccessfully to reach the Agent.  Message after message, and nothing.  I did get a 2 line response of "got it" to an email sent asking if he had received the offer days before.  Finally out of frustration I looked Mr. REO Agent up, and called his office.  What happened next is short of sending a volcano through my Brokers Hat  I was wearing at the time.

I asked for Mr. REO Agent....."hold on I'll transfer you".  Then Voice Mail.  I asked for the Broker, got an Office Manager.  "Oh he's an Independent Contractor, we don't keep tract of him.  He's really busy with his 80 listings!"  What!  Well can I have the number for the Broker?  "I don't have it, but reception can give it to you."  What! You're the Office Manager and don't have the number for the Broker?

After many tries, Mr. REO finally answered the phone, "Oh I am sorry, and I haven't heard anything yet, which is unusual as I have worked with these people before".......blah blah blah.  Then he tells me he is going on vacation in the morning, but will have his laptop and cell phone with him.  Yea I'm thinking, they sure were useful to me while you weren't on vacation!  But I'm professional, and thank him for the update.

Fast foreward to he has been on vacation awhile, no contact, no answering my calls, nothing. That Brokers Hat of mine was steaming......"Who is supervising this guy! and where is my offer?"  I Twittered my frustration once, and different people said for me just to call the Bank myself.  And I would have loved to.....but that's against the rules.  The Bank had representation....Mr. REO Agent. So short of calling the Bank, I called his office again.  This time I was insistant, and wanted to know why this Company (large Franchise by the way) wasn't supervising Mr. REO Agent....who was in charge of his files while he was gone?

Anyway, I will spare you all that part of the story, because here comes the climax!

Days before I had called Title to see which Bank owned the house, I was just an inch from that line of breaking the rules, but with knowing who owned the house, I felt I knew something!  Ok, now this is days before the last call to that office.  So, I learned who owned the house, I even have an address, but I am not allowed to do anything with it, so I once again made my twice daily call to Mr. REO Agent, and lordy be he answered!

After the "oh I'm sorry's" he tells me he just 5 minutes earlier emailed the Bank because guess what.....they don't have the house anymore!  The house was transferred to one of the 2 Government Agencies, and he just found out!  What.....I knew this days ago...but I bite my tongue, I try to remain "Professional."  So, Mr. REO Agent what's next?

My house is lost!  The Government Agency doesn't have it in their inventory, and the Bank doesn't know why it was transferred!  And let's not forget about my client that "isn't good at waiting".  So, Mr. REO AGent tells me he will send me an email showing he in fact sent a mail out "just 5 miniutes ago" and I can send that to my client.  What! Oh, and he will make sure he calls them in the morning to see where my house is, never even hinting that along with the missing house is our missing offer.

So, here I sit with an anxious buyer, a deposit check, proof of all funds, a home inspector on hold, and no house! And is he still the Agent since obviously the company that hired him doesn't own the house anymore?

Yes, I just love how some Agents work, and love the Banks even more.  I sure hope the Government with all their resources can find my house sometime soon!  Now, you try telling your client that their house is missing!  I just love my job....

Moral of the story.....

REO Agents, if you can't handle the listings you have,

and can't bother to follow up, then don't take the listings!

I just want to find out who has my house, so I know what to do next with my client!

By: Kathy McGRaw- Real Estate Broker