Admin

BUYERS CAN BE SO FRUSTRATING - BUT YOU STILL WANT TO HELP!

By
Real Estate Agent with Ayres Realty

Buyers can be so very frustrating.  No matter how much you want to help them they only hear what they want to hear and in the end -It's all your fault.

I have worked with these buyers for well over a month now and had them talk with a lender before I ever took them to see any properties.  The lender explained that she could get them a loan but there were two issues on his credit report that he would have to clear up to zero balance before it would be approved.  No Problem they said.  (Mind you they shared these details with me, not the lender.)

Didn't hear from the buyers for a couple weeks while they attempted to resolve these issues.  Great!  We're moving right along.  When they were ready to move on they called me to do the contract and when I asked about the issues they told me they had put them in dispute.  At my suggestion they talked to the lender who told them that no matter if they were in dispute that it must show a zero balance in order to complete the loan.  Again-no problem.  They would take care of it.  We wrote the contract.

The lender calls them this week to get proof the items were paid and they got very angry and said that they were in dispute and they could show those documents to the underwriter.  When she explained that she must have proof of a zero balance they got very angry at both the lender and myself.  So what can you do? 

Now they pretend that the lender told them she could work with the dispute thing.  I have worked with this lender for 14 years and I know better.  So what is it that buyers believe they can just wish away their problems?  I don't get it.  After all these years it still baffles me.   AAARRRRGGGGHHHH!  Don't they get it?  We are only trying to work with them to accomplish their goal!

 

Show All Comments Sort:
R. B. "Bob" Mitchell - Loan Officer Raleigh/Durham
Bank of England (NMLS#418481) - Raleigh, NC
Bob Mitchell (NMLS#1046286)

Buyers are liars and seller's are thieves!  ;-)  I feel your pain, but that's the nature of the beast.  Seller's are worse in my opinion, but what are you going to do?

 

Bob Mitchell

ValueList Real Estate Services, Inc. 

Jul 14, 2007 02:16 AM
Lenn Harley
Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate - Leesburg, VA
Real Estate Broker - Virginia & Maryland

Sybil.

I have an almost identical problem.  Husband and wife buyers.  Husband with good credit. Wife with two items on the credit report that she was advised 4 months ago to pay off so the lender could include her income. 

4 months later, the large item is still on the credit report.  The house will be ready in 60 days and they don't qualify without her income. 

Fact is, if she was credit worthy, the item would never have been in collection in the first place.  Fact is, she is willing to lose the house, their earnest money rather than pay off an old debt. 

Some folks just can't be helped.

Jul 14, 2007 02:19 AM
DDR Realty
DDR Realty - Newburgh, NY
Orange County NY
Sybil, I feel your pain and sympathize with you. I hope the buyers stick with you and realize it would be wise to take the advice of the lender. Good luck with them.
Jul 14, 2007 02:19 AM
Charlottesville Solutions
Charlottesville Solutions - Charlottesville, VA

Sybil

Keep you eye on the goal. You are trying to help these people and that is your goal, the rewards always come later and sometimes from the next transaction.

I too have had these same pains. Then I get a great "cash" buyer and things even out!

Best of luck, Charles

Jul 14, 2007 02:24 AM
Gary L. Waters Broker Associate, Bucci Realty
Bucci Realty, Inc. - Melbourne, FL
Eighteen Years Experience in Brevard County
Hang in there. Frustration is something we are not unfamiliar with! It is up the buyers and the lender....so it looks like you are on the sidelines. I would say as a coach but sounds like they don't want your coaching - yet!
Jul 14, 2007 02:32 AM
David Slavin
Keller Williams Premier - Katy, TX
CDPE, ABR, SRES Keller Williams Premier
Just keep checking with them to see if they are on track with getting the problem resolved then move forward on a contract but not untill it is cleared up.  Or find them a lender that can work around their issues even if they have to pay a higher interest rate.
Jul 14, 2007 02:33 AM
Wayne McMullan
Royal LePage ProAlliance Realty - Belleville, ON
Quinte Real Estate
Sybil, as frustrating as it seems don't cut them loose. Maybe meeting with them and their lender will help sort things out. keep plugging away at it. Good luck
Jul 14, 2007 03:36 AM
Sybil Holcomb
Ayres Realty - Douglasville, GA

Bob - You are right buyers are liars at times.

Lenn - She just thinks it will magically disappear or they will grant the loan regardless I guess.  Good Luck!

Gary, Charles, David & Wayne - I've gone to far to drop them just yet but I sure do want to.  I'll post what happens in the end. 

Thanks everyone for your words of encouragement.

Jul 15, 2007 03:13 AM
Jay Beckingham
Christensen Financial Mortgage - Port St Lucie, FL
Seniors ROCK!

disputes are cool . the member of the credit bureau is the creditor who is reporting the bad debt. if they feel you owe it, feel free to dispute it to your hearts content.

the letter to the bureau disputing the debt has a date on it. the underwriters aren't dumb. you sent in a dispute for the sole purpose of not paying the debt and buying a house. good luck with that. 

Jul 15, 2007 03:34 AM
Jennifer Fivelsdal
JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571 - Red Hook, NY
Mid Hudson Valley real estate connection
Sybil - This will never change, every year I get a  few buyers who will be frustrating; no matter how much I try to help they alway find a way to mess things up.  I am patient so I hang in there and in the end they are appreciative that I do.
Jul 15, 2007 03:49 PM
Anonymous
Jen

LOL. I know exactly what you are talking about lol. Some ppl just think that because they have money they can get what ever they want and not have to "accept" the bad. You cant buy everything you want lol.

Aug 07, 2008 09:07 PM
#11