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the angry buyer

By
Real Estate Agent

So I almost had my first sell. A couple who was moving here from out of town and needed a place to live. they wanted to purchase a home and move in. ALL with out even seeing it. I must have put a good two weeks of work into this and once the contract came about. They wanted to pay nothing out of pocket and and didnt understand why we needed a good faith estimate. they thought i wanted to see thier loan approval amount so that i could get more money out of them. They told me they had an fha and it was a conventional and when I called thier mortgage broker in colorado to get a goof faith estimate from her she told me that was against the law. Well the couple called and was very upset.

they didnt understand why the offer was not put in yet and why there may be a counter offer. I was very frustrated at this point. I had explained the whole process many times and they were still very upset.

Well once they found the house they wanted they ditched. And asked us not to ruin the chance of purchasing the home by themselves

I have never heard of a buyer doing this. its not like they are paying the commission.

any advice on not letting it get this far in the future?

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Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

These buyers did not understand the process.  Try to explain in the beginning or give them some information to read.  This could have just been the buyer.  Don't give up there will be plenty of opportunities out there with great buyers who will appreciate all your hard work.

Sep 26, 2008 04:16 AM
Mary Warren
Las Vegas, NV

Did they have a pre-approval letter from the mortgage broker?  That's one of the first things I ask for when working with a buyer.  I also ask for a buyer's broker agreement to be signed....that way you are covered with the commission....the Buyer's Broker agreement is also to their advantage, read over your states agreement. 

Sep 26, 2008 04:18 AM
Robin Gulledge
Remax Capital City - Cedar Park, TX
Cedar Park, TX ABR,CRS,GRI

What a shame! And this has happened to many of us even when they did see the home. Always ask for certain things up front, before you put too much time into it. Explain to your prospects that you need their help too, both parties need to perform. They did not perform and did not want to be repsonsible, they wanted to blame someone else. Build your business on integrity and you will get repeat business and referrals which should evliate much of the rifraf.

Sep 26, 2008 04:36 AM
Betina Foreman
WJK Realty - Austin, TX
Realtor, C.N.E., with WJK REALTY

I would suggest educating your buyers. You may have to do it more than once and in a variety of ways. I verbally walk them through the entire process and I give them a diagram breaking down each step. This allows them to "see" exactly where they are in the process. It may help you avoid this in the future. Good luck!

 

Sep 26, 2008 04:51 AM
Jim & Maria Hart
Brand Name Real Estate - Charleston, SC
Charleston, SC Real Estate

It sounds like to did what you should have done.  There are only so many ways to explain the whole process to buyers.  And different states have different procedures, so they could have been unclear because of that. 

Just remember, when a door closes, a window usually opens.

Sep 26, 2008 06:20 AM
Nate Blankenship - Spartanburg, SC Realtor
Keller Williams Realty - Spartanburg, SC

Welcome to Active Rain! This is a great site to network, learn and share ideas with others. Have a great day!

Nate

Sep 26, 2008 08:13 AM
Keith Elliott Jr
KEIRE Realty Group - Manassas, VA
Principal Broker/Owner

Hello Josh,

Welcome to Active Rain and congrats on your first post! The opportunities to learn and network are incredible here. Best of luck to you!

-Keith

Sep 26, 2008 01:43 PM
Ron Martin
Keller Williams Realty - Spartanburg, SC
Ron Martin Team

Good morning & welcome to Active Rain, You have joined an excellent site to receive free marketing, absorb more information from others, share ideas.  Be a blogger and have fun. If you have any clients moving to the Greenville, Spartanburg, & Anderson South Carolina area we are your team. We are on all three MLS. Great blog!  Keep it up. Again Welcome!!

Sep 27, 2008 12:12 AM
Ginger Ryals
Prudential C Dan Joyner and Young Realtors - Spartanburg, SC

Welcome to Active Rain!! This is a great site to network and share ideas!! Have fun with it!!

Sep 27, 2008 12:16 AM
Yvette Gardner
Keller Williams Realty, Spartanburg, SC - Spartanburg, SC

Welcome to the Active Rain community. You have chosen a great site with tons of information you can learn from.  Have fun with it and hope to see more of your blogs soon!  We have a team of four outstanding full time agents to assist your buyers and sellers in Spartanburg/Greenville, SC.  Again, welcome to AR!!

Sep 27, 2008 12:46 AM
Sasha Miletic - Windsor Real Estate
RE/MAX Preferred Realty Ltd. - Windsor, ON

Hi Josh, Welcome to AR, Be a Blogholic and start writing your own blog soon on AR. All the best for your RE business. This is the right place for customers, friends, relationships etc.

Best - Sash 

PS: FREE blog traffic strategy video...Hope this will help you... click here

Sep 27, 2008 01:58 AM
Lorena Westervelt
Van West Realty - Greenville, SC
Co-Founder/Co-Owner

Hello, welcome to Active Rain! This seems like a wonderful environment to network as well as learn from others. I hope you enjoy yourself and participate often in the Active Rain environment!

Sep 27, 2008 02:04 AM
Kirk Westervelt
Van West Realty - Greenville, SC Realtor -Short Sale Expert! - Greenville, SC
Kirk Westervelt, Broker In Charge, Van West Realty - CDPE - Short Sale Agent - Home for Sale - Greenville, Simpsonvil...

Hello and welcome to Active Rain! I encourage you to learn from others, share your knowledge and experiences with all of us, enjoy yourself, and try to log in and join us in the Active Rain community as frequently as possible. I look forward to your future blogs and comments! Take care, --Kirk.

Sep 27, 2008 02:06 AM
Scott Magaw
The Bill Kennedy Team - Keller Williams Realty - Spartanburg, SC

Welcome to active rain! By joining our community, you have made a great choice, and a very profitable choice. This is a great site for learning as well as sharing. Check out some blogs, join some groups, and enjoy! -- Scott

Sep 27, 2008 02:27 PM
Steve Vennemann-Hennepin-Dakota-Anoka contract for deed property-Ramsey-MN
BoardWalk Premier Realty INC - White Bear Lake, MN

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Welcome to active rain from http://www.mnlakeplace.com this site is a great site to learn from and interact with other Real Estate agents/Broker. 

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Sep 30, 2008 06:27 AM