What else can go wrong?

By
Real Estate Broker/Owner with Crossroads Real Estate LLC

Is it just me, or is there a conspiracy between major banks and the government to put me out of business?  Last month I wrote a cancellation for an accepted offer on a short sale waiting lender approval.  After one year it never came.  I have other offers on short sales and after jumping through every imaginable hoop and more, still no answer.  I have no problem finding buyers.  I have no problem finding homes.  I have no problem getting accepted offers.  I have all the problems in this world and more closing.

Foreclosures are no better.  For the past year banks and appraisers are finding ways of saying no.  Appraisers saying, there is chipped paint, guess where it is, I get $100 for every trip back to the property until you get it right.  And if nothing else will kill the deal, the lender will come back and demand new carpeting before the closing.  Or some other stupid excuse that didn't show up in any report or appraisal.  It's like the lender is now a licensed inspector, with out ever viewing the property.

I have a few offers accepted on foreclosed homes.  Buyers want to take advantage of the incentives offered for down payment assistance and low interest remodeling loans from the government.  But, there is a battle between the government and the banks.  The government wants to control the deal, thinking they can change the closing date, or else there will be no funds.  Once the seller, the bank, hears the government wants to control things, they say no to any extension and kill the deal.

It's like dealing with a couple of little kids, fighting over a toy on the play ground.  They have no idea what is around them.  They have no idea they just wasted hundreds of hours of time spent by a amount of people to put this deal together.  And they just dashed the hopes and dreams of the buyers.  Nice job banks.  Nice job government.  If wasting time and money and disappointing people is what you want to achieve, you are doing a wonderful job.  Wonderful.

Posted by

Ez1 Realty cutting edge technology from New Home Construction to finding the old farm house...

I give customers and clients a service none of the national web sites will ever offer.  I will be with you from the day you List your home, or begin your search all the way to a successful closing.  Fulfilling all your Real Estate needs in Shebiygan, Fond du Lac, Milwaukee, Ozaukee  and Washington County areas with the highest degree of expertise and technology.  

  Ez1Realty.net   Ez1Realty Linkedin  Ez1Realty Youtube     American History Vote on Bills in front or Congress  My own Bookstore

 

Dennis Herman Realty Home Town Realty Home Town Realty,N3091 State Rd. 67 Campbellsport, WI 53010

Phone: 414-426-1784  Fax: 888-645-2580

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Tags:
what else can go wrong

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Rainmaker
291,354
Kate Bourland
Marketing with Kate - Redding, CA
Onlilne Marketing Mobile Marketing

I think that it's localized, but you are not alone in your situation.  It's crazy.

Apr 21, 2010 01:49 AM #1
Rainmaker
83,032
Vanessa Calhoun
PalmerHouse Properties & Associates, LLC - Atlanta, GA
Your Greater Atlanta Marketing Guru!!

Bless your heart!!! I feel your pain. The reality is that our honing skills have to be perfected to the point to where we're amateur inspectors, appraisers, mortgage lenders, etc. so that we'll be able to foresee a potential problem and proactively resolve it even before it's presented.

Apr 21, 2010 01:52 AM #2
Rainer
78,190
Katherine Fornale
REMAX REALTY 9 - Howell, NJ
SFR, GRI

I had a situation closing a new construction.  FHA wanted to see a certificate showing soil treatment under the foundation and the builder told them that the EPA refuses to allow builders to put chemicals where there is no infestation.  We did finally get them to close without the certification.

Apr 21, 2010 02:03 AM #3
Rainmaker
855,169
Elite Home Sales Team
Elite Home Sales Team OC - Corona del Mar, CA
A Tenacious and Skilled Real Estate Team

It is true this is a time that is not for the faint of heart. 

Apr 21, 2010 02:04 AM #4
Rainmaker
223,295
Dennis Herman
Crossroads Real Estate LLC - Waldo, WI
Dennis Herman

If I wasn't running around spending so much time trying to make up for lost ground, I would sit down and write a book on what could go wrong on a Real Estate transaction.  Everytime I think I've jumped all the hurdles, some one come up with a whole new set. 

Apr 21, 2010 02:30 AM #5
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainmaker
223,295

Dennis Herman

Dennis Herman
Ask me a question
*
*
*
*
Spam prevention

Additional Information