Special offer

What are you thinking Mr. Bonehead?

By
Real Estate Agent

contract acceptance,Hello ..... what's happened to your noodle?  I mean your brain and your ability to make basic real estate happenings?

I have a sale currently going at this time where the buyer is going minimum down FHA.  The lender will not allow any credits to the buyer so the purchase price must be reduced to cover those credits.  Seems pretty basic right?

That's what I thought so I asked the buyers agent to begin the process and have the new sales price initialed by the buyer.  What I received was a 'correction' to the contract by the price which was just changed in Adobe.  How about those initials?  When do we just change a price and not get initials?  Did I miss that new seminar that it's no longer necessary?

Then an email arrives saying the buyers agent is confused as to why this can't be done!  Hello ..... how long have you been selling real estate (it's actually over 20 years as far as I can tell).  We always get any changes on the contract initialed no matter what.  Since the lender already knows of the credit you can bet they will ask why the 'new contract price' is not initialed by all parties.

I have to send a detailed explanation on this basic function?

I have already began to 'go around' this individual because I'm not sure of his competence - literally!  What happens if this agent has alzheimer's or another illness?  Why isn't the buyer wondering of his competency?  I'm sure this agent can't remember where he parked his car after a showing!

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  Lyn Sims    Schaumburg IL Area    Northwest Chicago Suburbs  ●  (847)962-7104
 
 
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Comments (4)

Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

Hi Lyn, It has been the case to always note changes with initials of all parties. What are they trying to do, just change out pages? That doesn''t work after the offer has become a contract. 

Aug 31, 2012 02:04 PM
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

Debbie:  I'm not sure what this agent was thinking but it's been an accepted contract for some time so initialing changes are necessary. This agent's been in the business for quite a while so this is pretty scary.

Sep 03, 2012 07:02 AM
Joe Petrowsky
Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709 - Manchester, CT
Your Mortgage Consultant for Life

 We all run across these types of situations. You can do all the continuing education you want, it doesn't mean that the folks attending want to learn anything.

Sep 08, 2012 12:59 AM
MichelleCherie Carr Crowe .Just Call. 408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

You'd think this was an obvious one but apparently not.

 

Sep 19, 2012 02:44 PM