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Dumb Point of View

By
Real Estate Agent with RE/MAX Preferred Inc. Realtors

Over the years I have fielded some very dumb requests by agents who purported to be representing their clients. I say it in this way as to wonder out loud if actually what they were doing was representing or was it just laziness on their part?

Here is the Story. I had been working on a very difficult sale that required several Closing Date Extension requests by the Buyer. Each one was trying but understandable and granted by the Seller.

Each one was always met with delay in gaining the Buyer's Signature as they were in a remote location out of Country. Each addendum was always acknowledged by the Seller without the benefit of the Buyer's signature. Signatures from the Buyer were always followed up with and came within 10 days of the the Seller's Signature.

Not the way we like it but a cross we had to bare for this transaction. An unsigned request came once again from the Selling agent for a closing extension lets call this request Number 3. As normal the Seller grumbled but granted on the following day. I sent it on with an imediate request for Buyer's signature and was given the standard reply " I will get it to you as soon as possible ".

About a week went by and I got another request for extension from the Selling agent. Addendum Number 3 was an extension of only one week and they discovered that the Buyer would not be able to preform in that short amount of time. So they sent us addendum number 4 complete with all the Buyers Signatures before hand. I imediately asked where the signatures were for number 3. The answer that came was that the selling agent would get them in a day or so.

This time the Seller looked over the request asking for an additional 3 weeks of time. Feeling uncomfortable he asked for a partial release of the earnest money. That was imediately met with resistance from the Selling agent.

I sent on the Request none the less and asked for a signature either accepting or rejecting. All I got was a reply that the Buyer was just going to hang on without signing for the time being.

A day or two later I once again made the request for the signatures on Number 3. Here is the answer that I recieved from the Selling Agent. " We do not have to give it to you as we have given you a signed request on number 4. Given that we have moved past number 3 with number 4 the signature is not needed.

I have never heard of any one using this perverted sense of logic before. Have you ?

Cindy Jones
Integrity Real Estate Group - Woodbridge, VA
Pentagon, Fort Belvoir & Quantico Real Estate News

Well if all parties have agreed to Addendum 4 which changed the terms and conditions of the original contract what good are signatures on Addendum 3?  Isn't it already null and void by agreement to Addendum 4?  I'm not familiar with your state laws or real estate contracts but I wouldn't be worried about in VA if all were in agreement to the latest addendum.

Feb 15, 2010 09:39 AM
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Cindy,

Contract Law in Oregon requires a response to all documents that are created. I am pretty certain that it is the same in all states.

The addendum could have been withdrawn or at least a note by the other agent could have been attached noting that the Buyer was unavaillable to sign. But you can not have an addendum that is only unilateral.

Biggest reason is that as an agent you are not able to demonstrate to anyone that you properly presented and obtained a response.

Feb 15, 2010 11:27 AM
Thesa Chambers
West + Main - Bend, OR
Principal Broker - Licensed in Oregon

without the buyers signature on addendum 3 for the extension they are out of contract - period - point blank - move on and find a more acceptable buyer - (hi Herb - miss you)

Feb 15, 2010 04:35 PM
Herb Hamilton
RE/MAX Preferred Inc. Realtors - Portland, OR
Real Estate Broker ,CDPE, Downtown Portland

Hey Thesa nice to hear from you again.

Feb 17, 2010 12:06 AM
Jim Hale
ACTIONAGENTS.NET - Eugene, OR
Eugene Oregon's Best Home Search Website

Herb -

Thesa (and you) are right on.  You are out of contract.

If the buyer can't perform because a loan is still pending, that's one thing. 

But if the buyer can't perform because he doesn't have his down-payment in hand, (under RMLS/OREF forms) his entire earnest money is already in jeopardy.

Jul 21, 2010 08:21 PM