Home : Blogs : Angus in Naperville IL : All the Moo's that's fit to print

He's not as thought as you drunk he was....

Our first home purchase - "The Life of the Unrepresented Buyer"

1985 We looked at a couple of condos alongside the El tracks in Chicago... nice places, great complexes close to everything... we were assured that we would "get used to the train" the screeching, the rumbling, the shaking... At $48,000 it seemed like a bargain and fit in our price range, but at the last minute we decided NO. The agent was disappointed, but she didn't have to show us much. She was really disappointed when we didn't buy the next house from her either, but we didn't understand how things worked, after all she had only shown us her own company listings up until then.

Happily living in a two bedroom apartment in Chicago's Logan Square neighborhood until a new psycho landlord that called himself "The Colonel" moved in upstairs.... a guy that really enjoyed acting the part. There was really something wrong with him and we needed to move....

So, being the typical couple we took the newborn for drives (at least he would stop crying that way) and visited open houses for fun. We stopped in some FSBO's and it always seemed a bit awkward... they always wanted to sit down and talk to you... mostly, we just wanted to get out of the house.

We stumbled across an open house on a brick bungalow on Chicago's northwest side in the Cragin neighborhood. It was a very dated all brick bungalow from 1928. Another family was there talking about how awful it was... Lisa and I walked around and were nudging each other.. thinking "this might work for us" at $62,500 it seemed a bit pricey, but...

So we met the agent sitting at the kitchen table he didn't get up and looked old and tired (I was 24, he might have been 38 for all I know) He volunteered that the seller would take $57,000. Lisa and I took his card and told him we would call later.

The next day we called the agent and told him we would like to put in an offer... he seemed a bit confused and asked what this was about... so we explained how we had met him the day before. He offered that he is an alcoholic and has been on a drinking binge and doesn't remember any of the previous few days.

OK, we still want to make an offer and mention that we would like to start at $55,000... he flies off the handle. I tell him that he's the one who told me that the owner would take $57,000... he hesitates and says that he shouldn't have said that and we better come into the office ('the lucky penny company") Lisa and I get there, he introduces us to his Broker... and then leaves. The Broker then proceeds to tell us that we can't offer that much, he won't present it, she's a little old lady and the house is all she has. We explain that his agent told us she would take $57,000, the broker says he shouldn't have done that and that the agent has problems" (duh!) I explain that I'm not going to pay any more than that. The broker gets rude and yells at us, we stand up to leave and all of a sudden he wants to talk finances... somehow we get hooked up with Sears Mortgage, he presents the offer... which she accepts.

We luck out and get a 12.5% mortgage with 3 points, so we are feeling pretty good about things. Our finance contingency is due in mid July, we have plenty of time...YET...things drag on... Sears Mortgage keeps asking us for more things, our date has come and passed and now it's time to close... amazingly the day after our rate lock expires, we are suddenly approved for a 14% mortgage with 4 points. Isn't that something?

Despite everything, we loved that house... I (who had always lived in apartments) gutted the only bathroom (that almost led to divorce court!) and installed a dishwasher in the kitchen (no leaks!) we re-carpeted and we had a detached garage built!

In 1988 we sold it for $87,000 with multiple offers... we ended up with problems on the closing and terrorized our agent - (I'm really sorry Rich!) but that is another story.

Then... being unrepresented buyers Lisa and I purchased a home to be built... we put in a lot of upgrades and then paid a premium for a large cul de sac lot (It backed to a highway)

Once I became a Real Estate Agent in early 1989, I found it embarrassing that I had paid a premium to purchase that location. The worst part was that despite extensive, expensive landscaping... it cost me a larger premium to sell it (in the form of a reduced price)

Fortunately, I am now able to avoid these pitfalls... young Angus could have used my (the older versions)help...

Moo

Posted by Angus in Naperville IL on 01/02/2007 10:43 PM

Comments (56)

naperville, illinois, dupage county, war stories

This post has been included in Illinois Information Du Page County, IL Information Naperville, IL Information

56 Comments on He's not as thought as you drunk he was....

JAN

2007

What a sweet real estate story. I really loved this line:I was 24, he might have been 38 for all I know ROFL!

My husband and I lucked out with our unrepresented purchase as the seller gave us all kinds of info that we then consulted with our friend about (she was an agent). Even though she did not represent us, she gave us good suggestions and got the listing of our house. Thankfully, I didn't have to hide my head in shame later, but it could have gone the other way just as easily.

I laughed out loud a frew tims Renee. Moo, and now Bonnie too, how fun it must be for you two to look back and see what you did lolol. Your post really shows why people don't want to work with some of us. That one agent, poor guy, I wonder if your sale was the straw that broke the C back for his broker. I sold a home in Maryland myself (my husband wanted all the money possible, don't ask) We got a nice doctor who worked as a 'physicals' specialist. He had a VA or FHA loan, I can't remember. omg the paperwork, the calls. I was averaging ten calls a day from my job! Then at the end, the government lost our entire file. My title attorney was a complete gem. He called us one night, we spent until well after midnight recreating everything. I learned my lesson the hard way (although I also learned I loved real estate). No more for sale by owners for me!

Renee - LOL.. It's all a matter of perspective- These days "old" means 90 to me (and it would be really cool if there were some 90 year old Active Rainer here that would be offended by that) I'm determined to have another 45 years of fun.

Bonnie - Fortunately, my real estate purchases have gone so much more smoothly since I got into the business!

Carole - Yikes! This is a tough business to "fool around" with... so many frustrations, especially when it doesn't come naturally.

Moo

JAN

2007

Angus,

Thanks for the post. In this market the type of agent you had will probably go by the wayside. They don't have the staying power fortunately, for us and future buyers.

We have all been there at one time or another with stories that are over the top... Should have taken your drunk agent to the bar and left him there... Ha HA HA... Thanks for sharing.

Logan Square I left there a couple years before you moved there. I grew up just off Logan Blvd on Mozart St. I moved to Hawaii in 1982. A lot of street gangs then. I went back in June and was shocked to see how high the prices were.

I was also very happy to see DaVita's Pizza was still there on Belmont and Milwaukee. The food was as goods as I remembered.

Angus, as I'm sure it is with you, many of my own early home buying experiences have made me a much better agent! I think I've run into that guy before. Did he used to sell aluminum siding?

Angus, Now that I am going into my fourth year as a Realtor I think back to My first home purchase in 1989 in a town Called Buena Park ( Knotts Berry Farm Calif. ). I really wonder what it was that my agent did. For that matter today I spend most of my time fixing the offers and paperwork of other agents that I am involved in transactions with. You know counters to clear up the missing information as to inspection, Title terms of possesion what to do with the tenants still in the property etc.

If I only knew what I know now then.........

Hey Angus,

How's life in "not Naperville" :)

Hi Angus,

I am cracking myself up here trying to imagine your drunk, binging agent dealing with the schizophrenic seller of my very first listing. He was a real gem too. What a pair they would have made. At the close of escrow they both probably would have forgot they were in a deal. ROFL.

Laurie

Thanks for sharing such a cute story. I can tell you learned from that experience and that made you a more thoughtful realtor.

Where did you find Agent Grey Goose? How ever did you happen upon him?

Angus, I like the picture of you and Lisa in front of your little brick house. "This is the house that Angus bought..." How many houses have you owned since that one? Great story.

Moo - funny story, sad but funny! We are all a product of our experiences, and it's clear yours have made you a better agent.

Great story about what not to do - but, we were all young and not REALTORS at one point, weren't we???

Ann

ps--really cute picture of you and Lisa in front of your brick bungalow back then!

Angus, that was a really interesting story? Hopefully, that first agent has since clean up his act. I glad you shared the realtor side of the story. Sometimes when we hear what realtors do for some customers, we find it hard to believe. You have been on both end of the scale so you know how to handle your customers.

What a great story! When your clients complain in the future, just tell them, "Well, at least I'm not drunk!" You'll have some explaining to do, but it should give your clients a good laugh.

Great story. We've all done things in a previous life we would never encourage today!

Great story, Angus! Great realtors learn by their experiences.

I never bought before I got my license so I don't have any of those stories, though I've heard plenty... However, when my husband and I were looking a couple of years ago, we ran into a custom home where the builder had early onset alzheimer's or just a VERY bad memory... even when things were written down, he didn't understand them and messed many things up. The final straw was when he put the wrong carpet in the house in the wrong places and never ordered our hardwood floors... he never remembered anything... I'm not sure if I would have prefered a drunk, but either way, we had to pull out of the deal because he told us many things that never happened, and he thought that me, being an agent, could understand that things happen. What?

We currently live on the same street of that house and I ran into the new owners last year and boy are they unhappy with the house. 76 items on their punch list!! They've even had to get the city involved with some code violations. I'm glad I convinced Mike to back out!!

This brought back memories, even the photo! Thanks.

Our journey thru home buying pre-licensure actually took a young, penniless couple and began building their wealth...home by home. We moved several times and now get to enjoy vacation homes! ps- our first buy had a train in front- 51,000 row house Lewisburg PA just off campus- the train was a sightseeing train that ran thru Bucknell and had a lady tourguide with a microphone!!! oh yeah, one way parking- something I hated at the time...looking back this was a proud moment for us and I actually miss that time of our lives to some degree.

Great story Angus, if we only knew then what we know now wouldn't life be grand. We have a 90 year old REALTOR in our state association, she is an amazing women. She also just got re-elected to our state house of representatives. She still travels to all the NAR conferences and conventions. God bless her. She does answer her email too. LOL

Thanks Jay

Angus ~ Great story! I believe it is a benefit to have these experiences personally. We can look back at our mistakes and lessons learned and understand our clients of today much better. They are going through so much, from not understanding the process to trying to control something that should be released.

Your story is a classic, thanks for sharing.

"Angus"

I am in kind of a hurry this morning so I do not have time to read all these comments. :)

After reading the post my thoughts were like this:

"He offered that he is an alcoholic and has been on a drinking binge and doesn't remember any of the previous few days."

I found myself chuckling on that one. Sometimes I am amazed by some of things we hear. Who in their right mind would tell tell a customer that? I mean please, shouldn't we be keeping our personal problems PERSONAL?

I am exiting this post smiling very wide. :)

Renee: I hope you made if up off of the floor. Wink. Wink. :)

TLW "The Lovely Wife"...He Was Right. No He Shouldn't Have Said That. SVW. ROAR!

Very funny story Moo, Great picture of you at the young age of 24. Love the shirt:)

A Binge drinking Realtor is probably not a good thing. At least he was honest.

So how many times have you shared this story with clients? Sounds like a good one to make them think twice about who to hire! =)

Hey, Realtors around here don't have to be drunk to open their mouths and insert foot. At least once a month I am told by a Sellers Agent that "They really need to sell and will take X". The thing is this type of comment comes from all levels of Realtors.. the green beans and the oldie moldies.... I just think it is a technique they believe will facilitate the sale. Plus they don't think that they will get hurt if ultimately the seller whom they are representing finds out about their transgression.....

Cute story Angus:) and congrats on the featured post, as well.

Guess every Realtor here should know what a mistake that Realtor made!

We all have learning and experiences behind us and if we use this to help make us better Realtors this is great. My son mentioned to me last night that I was "born to be a Realtor" because he remembers riding by every house in Rhode Island, while he was growing up:)

Now you can be the Advisor to a young Angus somewhere.

I know here in Ohio Real Estate Law chenged because of agents' addiction habits. That part is an uphill battle. I agree with Bryant about the 'Magnum PI' shirt and the guy in it is much better looking than Tom Selleck :-)

Angus,

great story.. brought back many memories.. especially about the interest rates..It was amazing how you could always qualify at a higher rate. One of the big lenders in our area was a local bank that was fmaily owned.. they were notorious for not funding the hiking rates but many builders used them and buyers had to or pay higher price for house.. I was so irate once with them that I got the president of the bank on the phone and took him on about his bank policy when it came to funding. I think I mentioned something about government agencies who frowned on bank fraud. My Broker was in the office at the time and was stunned.. Afterward he told me he was amazed that I would call the bank president on his actions and worried about what would happen with the buyer's loan. That following Monday the loan funded and rate was not increased. My broker never forgot that episode and would use it in training classes with new agents

We bought our first "bungelow" in 1972. We drove by it daily on the way home to our rental, and had always admired it. I was on a 3/4 ac lot just outside the small town we lived in. When the For Sale sign went in the yard, we called the agent and purchased it.

Don't remember any issues or problems with the transaction. But do know that home inspections weren't done then ... or at least we didn't have one. We had two major problems with the home. One we were able to solve once we realized what caused the sump pump to back up into the basement. The other problem we couldn't solve. The leach lines for the septic tank ran "up hill" so we always had a "wet spot" at the bottom of the hill. I planted a pussy willow bush in the wet spot, since willows like water. You should have seen how that bush GREW!

That was great. I haven't laughed so much this year. It's amazing how your age perception changes as you age. I don't know if I would have made an offer to a drunk man though.....lol. All in all, you survived and learned. Life has many lessons to teach, some of us just get more knowledgeable than other!

Terrific! Reminds me of a high school buddy who could barely get the words out of his mouth after drinking together one night... "I'm not as drink as some thinkle peep I am...." What a prize it must have been to work alongside THAT agent!

Reflections on the Good Old Days! I'll bet you have some other stories from way back when to share with us!

I love it! I am going to share it with my newbie class next week.

Thanks.

What a great post! I couldn't help but think back to 1972 when we bought our first house!

My last house (three years ago) - I listed my own home (well through my company). But I did not hold my own open house. I got lucky, it sold quickly. But I just couldn't negotiate on behalf of myself and myself LOL I also didn't have an agent for the home I bought and live in now. You guys don't use an agent when you are looking for your own home, do you?

Great story.

I wonder if E and O insurance covers lapses in memory due to chemical abuse?

What a great story Angus. I actually got into the business because I wanted to know about the mortgage process. Somehow when me and my husband where looking to purchase our first home we felt we where being taken to the cleaners. So we decided to wait; I got a job at a mortgage company and the rest is history. Thanks for sharing your story with us.

Will - You are right, these days it would be more difficult, but I'm sure that there are still some out there.

Crystal - Well, he did do me a favor by letting me know what to offer...

Randy - My wife lived on Mozart in 82/83, then after she succumbed to my wily charms (OK, maybe it was just a moment of weakness) we lived on Logan Blvd from 83 to 85

Rich - As long as he wasn't a taxi driver!

Doug - If you knew then what you know now... it would have been you collecting the commission!

Ardell - "Not Naperville" is still pretty slow.... Lan's place is not sold (he says there may be a change of plans) I expect that things are going to be pretty busy, very soon. My inquiries are way up.

Laurie - Like a couple of mixed drinks?

Jennifer - Thank you! It certainly has added a wry, skewed perspective...

Chris - I'm kind of thinking he was Agent Rotgut...

Sharon - I'm living in my fourth house since that one. I've purchased several investment properties as well. We aren't moving for a while.

Ann - We always loved brick bungalows.

Netta - Thanks, I try...it's the what we learn from the experiences that make us better.

Don - I share that story with clients all of the time. I love sharing stories with them, every once in a while a client will ask if they are going to be one of my stories.

Kathy - Of course it's easy for me to get representation now :)

Kay - What's great is that we can learn from each others experiences as well!

Donna - Sounds like you dodged a bullet on that one!

Michelle - ooooh! A sightseeing train! That's a good one!

Jay - I love that 90 year old story!

Krystal - The experiences surely add to my empathy, I'm just so glad that I'm not moving again for a while.

TLW - I was a bit taken aback as well... it seemed to me that he could have covered a bit ;)

Broker Bryant - I loved that shirt, but Lisa married me anyway.

Angus, have you checked on the prices in that neighborhood lately? It's sometimes "sobering" (pun intended for this post) to find out how much the world changed in not so long...

JAN

2007

Moo.... as so many, since I am way late, thanks for sharing that story. I remember the stories about Sears mortgage. What's sad, bait and switching go on still.... and don't get me started... ;o)

This is such a great story, heartwarming yet at the time you were going through it I am sure not so heartwarming. But look back on the wonderful memories of that first home and treasure them. It is true that with age comes wisdom. I too thought we did great on our first paying 13% interest. Points we thought was just part of the mortgage process...duh?? All in all my first mortgage was only $28,000.00, you cannot buy a car today for that price.

Phyllis Pafumi

What an awesome story! I love it! Thanks for sharing. I might even pass it along to a few particular people I can think of. Might help them think a littel clearer about using a Realtor.

Mr MOOooo. That picture is worth 1,000 words! Good to see that you haven't changed much! Nice story.. glad to hear that you persisted and got the house! yoo hooooo!

Great story. It seems that many of us get in the real estate business after having bad experiences ourselves. I do my best to make sure the folks I work with never have a story like this to tell. Thank you.

JAN

2007

Leigh - Sometimes I forget about this story, or I break it up into smaller pieces (with more detail) while trying to avoid George Carlin's 7 words.

Michael - Sometimes the mouth just keeps on going.... and going...and going.....

Karen - We still make our kids crazy by driving around looking at houses... there is NO straight line home.

Carole - It's hard to see my Magnum PI blonde mustache! (of course it was hard to see in person too)

Kay - The lender bait and switch thing was very popular back then. Good for you to call that Bank Pres on those tactics!

Elaine - I've always loved pussy willows... as a kid I just loved play with the fuzzy little buds. Bungalows can be great homes, we were hooked directly to the city sewer and one summer (1986?) had massive rainfalls (The DesPlaines river trashed the northwest suburbs) where the storm sewers deposited a foot of water in the basement. We were later victims of the flood of 1996 in Aurora when our area was declared a national disaster (FEMA was ok back then)

Christy - it's more fun to look BACK on :)

Chris - I can't imagine that he lasted much longer, hopefully he got his stuff together.

Tony - I hate to use the word feeble in any sentence with me in it... but, wait... I just did.

Monika - Great! Newbies could use a little comic relief.

Linda - So, was that a positive experience back in 1972? Or do you have something good to blog about?

Carole - I Do all of my own buying and selling, but I will admit to being a basket case when my house is on the market though... I mean the pressure is ON!

Blanca - Did you take yourself to the cleaners?

Gabriel - I've watched the house sell a couple of times now. It was an unremarkable bungalow and is probably worth around 300,000 now. It is fun to watch... kind of...

Jeff - I've had a serious grudge against Sears ever since that year... after we purchased that house they turned me down for a Sears credit card and then... I had Allstate Insurance (owned by Sears then) which royally screwed up a claim... I've let it go....really. I have. Completely... (jerks!)

Phyllis - Doesn't a 28,000 mortgage sound nice? That's Real Estate Taxes on some houses.

Jim & Maria - A sober one anyway!

Nick - Well, I am a bit more "weathered". Lisa, of course continues to get more beautiful.

Chad - It's more fun when you've got stories!

moo

Angus, back when it was binge city for this agent you spoke of? Weren't there still 3 martini lunches? I can remember my company (advertising) getting ready to do more downsizing, the mood is already funereal, and a shrimpy efficiency guy is brought in as President of the Company. He was my age (young ) and my height (LOL short) So for his first meeting with the Maryland crew, he calls us to the bar in restaurant on first flr of our bldg. We are all gathered in a circle (can you say odd and dorky) in this fancy bar, and he orders tequila, talks a few minutes, and proceeds to rub lime and salt on the necks of some of the sales women. Being short it gave me the chance to leave without too much fanfare :-) I know, it's not a real estate story but it is alcohol related so I'm on topic :-)

Carole - You are always on topic... I'm flexible.

In todays world we call that a lawsuit (sexual harassment)

Yes I had the same thought as it was occuring! :-)

JAN

2007

Went through the same thing when I bought my house. Great points. My agent Karla was great when we bought our next house.

Carole - wise enough to leave....

TLW - thank you for the lovely sign. I suspect that the former agent may now be moonlighting as Ronald McDonald... the nose looks familiar

John - It's great that you were able to have a good experience after your poor one. This can add texture to the stories you share with clients.

JAN

2007

Ronald McDonald would sell you to the client's kids.....who doesn't love big red shoes, those yellow pants, and red nose?

JAN

2007

Cute story Angus. We all do better with hindsite.

JAN

2007

Angus just read this one how sweet..love the picture and in particular the unrepresented seller or buyer phrase is right on ..missed you at CS this year. Mollie gave a great presentation which included that unrepresented person folly. Hope to see you in Albq.!

Leave a response…

Name:

Email:
(optional)

Comment:

What does the graphic say?