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*OOPS* Mortgage Company Leaves LIVE Message During Showing...

By
Real Estate Agent with RE/MAX Compass 0524642

A good friend and Realtor buddy of mine told me while showing houses today he heard an interesting message by the home sellers mortgage company. Apparently the seller was behind on their mortgage payments and the bank was leaving a long winded message for all to hear on the answering machine. YIKES!

The buyer has interest and want's to proceed with an offer. On the MLS there is no mention of this being a short-sale, foreclosure or even a pre-foreclosure. It's entirely possible the Listing Agent has no idea that the seller is delinquent on their mortgage payment.  

Should the Buyer's agent let the Listing Agent know what he heard or should he keep his mouth shut?

 

The agent was simply showing the home when he overheard this voicemail as it was being left by the mortgage company. Talk about bad timing for the seller. The Buyer should now be concerned about negative equity issues. I would absolutely reveal what I had heard. I would want to know if the seller is so delinquent that we might have issues with a timely closing, or even a closing at all!

The problem is the seller could suggest or possibly make some wild accusation that the agent showing the house invaded her privacy and unethically has an edge that they shouldn't have. This, of course, is foolish and unfounded in my humble opinion. The seller should be very grateful an offer is even coming at this stage in the game.

 

What would you do and why?

Posted by
Greg Nino
Realtor
RE/MAX Compass 
Direct & Text 7 days a wk: 832-298-8555 
 
 
Realtor since 2004
Mediator & Arbitrator for the TX Assoc. of Realtors
Member of the Professional Standards Committee for the TX Assoc. of Realtors
Arbitrator for the Comptroller's office for the State of TX for Arbitration of Property Tax Values

 Member of the RE/MAX Hall of Fame & Platinum Club

 

The information contained in this blog is believed to be reliable and while every effort is made to assure that the information is as accurate as possible, the author of this blog, and its comments disclaim any implied warranty or representation about it's accuracy, completeness or appropriateness for any particular purpose. All information is copywritten and the property of Greg Nino.  

Comments(43)

Eve Alexander
Buyers Broker of Florida - Tampa, FL
Exclusively Representing ONLY Tampa Home Buyers

I had several mortages on rental properties, and one bank ALWAYS called every month to ask if I sent in a payment...BEFORE it was due.  I had never been late with a payment.

I would hang up on them or request they stop doing...they continued and always acted like I missed a payment.

I have since paid them off, but it still burns in my mind.

Eve in Orlando

PS:  I would discuss with the listing agent.

Aug 09, 2012 07:56 PM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Yep, I too would mention to the Listing Agent.  There could be a logical explanation but I would want to know if it were my listing.  What a crazy thing.

Aug 09, 2012 08:41 PM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Home buyers and their agents spend a lot of time researching and preparing an offer to buy a piece of real estate.  

If I had overheard that message and my buyers had an interest in the property, a telephone call to the listing agent would be next. 

Buyers need to know that sellers are "ready, willing and able" to sell a property.

If the listing agent cannot or will not provide a level of comfort that a contract will close, save the buyers' time and move on.

Aug 09, 2012 08:55 PM
Debbie Gartner
The Flooring Girl - White Plains, NY
The Flooring Girl & Blog Stylist -Dynamo Marketers

Yes, yet another reason that voicemail is better than answering machines.  What an interesting story and dilemma.  I think I would do some research first (as others suggested) and then discuss w/ listing agent.  It seems that this might help faciliate the sale (and even help in negotiations).

Aug 09, 2012 09:14 PM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!

hearing the message is unfortunate. spreading the message, without knowing all the details, and their accuracy, could be problematic, for you.

Beware collectors are often overzealous, to say the least, and untruthful, if it suits their needs.

you might want to check and see if you have any legal liability if you pass on this information to other parties.

Aug 09, 2012 09:56 PM
Amanda Christiansen
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty

I would definitely talk to the listing agent about it.  

On a side note...  who has answering machines anymore?  Weird.                                                                                

Aug 09, 2012 11:29 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Greg, I would inform the listing agent and have a discussion with my clients as to what they want to do.

Aug 09, 2012 11:38 PM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I love this business....no soap opera, no spicy books, and no gossip can make up for the day to day Real Estate variety

Aug 10, 2012 12:10 AM
Ron Fowler
Fowler Copywriting - Vancouver, WA

I would tell the listing agent and I would see it as a way to also help my buyer client. If they are far behind, this one has the potential to blow up in their faces somewhere along the buying process. I have a deep feeling the seller told their agent nothing about being behind and are just hoping to get it sold and walk away unscathed.

Aug 10, 2012 01:29 AM
Bryan Robertson
Los Altos, CA

I'd tell the listing agent as a courtesy and make sure he/she understood that it was a message heard while it was being left.

Aug 10, 2012 01:39 AM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Yes, I would tell the LA as this could impact the future transaction. All kinds of hang ups could occur because the seller doesn't think it's important or wants to stay confidential.  I bet the LA doesn't know.

Aug 10, 2012 02:13 AM
Bob & Carolin Benjamin
Benjamin Realty LLC - Gold Canyon, AZ
East Phoenix Arizona Homes

Certainly provides for a bit of a challenge -- there are definitely pros and cons for either course of action.

Aug 10, 2012 03:59 AM
Sandy Acevedo
951-290-8588 - Chino Hills, CA
RE/MAX Masters, Inland Empire Homes for Sale

There are a lot of great answers here and I would only add.... how can there be an expectation of privacy when the sellers have given you the key to their front door AND left their message machine on loud. There was no snooping here at all.

Aug 10, 2012 04:00 AM
Donna Harris
Donna Homes, powered by JPAR - TexasRealEstateMediationServices.com - Austin, TX
Realtor,Mediator,Ombudsman,Property Tax Arbitrator

Don't most lenders say on their voicemails to not leave personal information? Why is the bank allowed to leave such a personal message with so much detail? I think the seller's beef is with the lender, not the buyer's agent.

Aug 10, 2012 06:30 AM
Evelyn Kennedy
Alain Pinel Realtors - Alameda, CA
Alameda, Real Estate, Alameda, CA

Greg:

I think I would tell the listing agent.  And if my client liked the home I would submit an offer asking for clarification of the status of the ownership.

Aug 10, 2012 07:19 AM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

I know I have called the listing agent to let them know that we put the FedEx package from the bank in the house and then asked that same question as to whether or not they were in a position to take s conventional offer and not be in an underwater situation.

Aug 10, 2012 11:55 AM
Harry F. D'Elia III
WEDO Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I have to agree that it is a material fact that must be reported to the listing agent. However, I always get a copy of recent mortgage statement when I list homes for seller for this very reason.

Aug 11, 2012 12:42 AM
Jordon Wheeler
The Jordon Wheeler Group - Fairburn, GA
J W Group Real Estate Sales and Service

Hey Greg,

I would communicate the message to the Listing Agent as a courtesy and duty to my buyer.  We don't need to waste time with an offer if there are problems pending that prevent the transaction from closing.  Best of success to you this year!

Aug 12, 2012 04:34 AM
John Cannata
214-728-0449 http://TexasLoanGuy.com - Frisco, TX
Texas Home Mortgage - Purchase or Refinance

I would think that telling the LA would be best. Why not let them know you have a solid offer, but you have concerns. So, you just want to clarify the current status of the home.

Aug 13, 2012 03:48 AM
Robert Bob Gilbert
Berkshire Hathaway HomeServices Anderson Properties - Katy, TX
Your Katy TX ( West of Houston) Real Estate Expert

Greg,

Congrats on the feature but you are use to having featured posts.

Complicated issue and you are correct the seller would claim so sort of violation of their rights to privacy occurred when the buyers agent heard this message. I would first get my buyer out of this home and start looking at the next home on their list. I would call the seller's agent later on stressing confidentiality  and tell he/she what I heard over the phone. 

Aug 14, 2012 04:18 AM