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Just because you're a lawyer you think you can do what???? ...A recent short sale closing

By
Real Estate Agent with Success Real Estate

As I have said before, I negotiate a lot of short sales for homeowners in financially challenging situations. But this recent one really got me all riled up!!  Another agent in my office asked me to co-list the property as he had minimal experience with short sales.

Not a problem!!

A buyer calls him on the home and he shows her the home, a couple of times this happened.

Then he gets an offer on the home from this buyer, but with her Attorney representing her as a buyer's agent. 


I know it happens and we just got to suck it up and get over it, at least I would accept it easier if he had even
seen the home, but it still stinks!                                           

 

Geez, here's a new thought "a lazy attorney who doesn't want to work but wants to collect a large check". Hmmmmmmmm

Well let me stop ranting and get to the actual story.

This attorney faxed over an agency disclosure representing the buyer along with the offer. Okay good, at least he knows who he is representing...so I thought.  He also was a good dooby and had his buyer fill out the short sale disclosure form that I require from all buyer's and agents.  But then the fool calls me up asking to have the file turned over to him so that he can negotiate the short sale with the bank.  

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He proceeded to tell me that basically all agents are incompetent and short sales don't close because of us.                               






Well, needless to say I told him where to go and how to get there and offered detailed directions. Because of my duties to my seller I also informed them of his generous offer and they respectfully declined it as well.  Well low and behold I successfully negotiate the offer with both of the banks and get short sale approval. Yes it was an amazing occurrence in the eyes of this gifted and talented attorney.

The next thing I find out is this wonderous attorney is now representing the buyer's bank as the closing attorney. Yes, he is the buyer's real estate agent, the buyer's attorney and now the bank's attorney. How many people can you represent in one transaction??? Well, than the twit has the testicular fortitude to send me over an authorization form for the seller's to sign allowing him to speak to the lenders as their representative!!!!!!!!!!!!!!!!!!!!!!!!! Since it is a short sale as I previously indicated there is no mortgage payoff to order, no equity to freeze and no reason for him to speak with the seller's lender.  Yes he wanted to represent every party of the transaction.

Like I was going to let that happen! Yes, let's play risk our real estate license by going into dual agency without proper informed consent prior to the transaction.

I wonder what the Board of Realtors would think about an agent representing everybody in a transaction without proper permission and disclosure.

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Bobbie Files
Your Bristol and Plymouth County Realtor

Visit my website at www.BerkleyMass.com

Search for Berkley Ma Homes at: http://BerkleyHomes.BerkleyMass.com

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 For those struggling to pay your mortgage payments please visit: www.ShortSaleMassachusetts.com

 

Kelly Willey
Long and Foster BEL AIR MARYLAND - Bel Air, MD
Short Sale Agent - Harford County Maryland Real Estate

I Believe in some states he would have to have an actual, active license to practice real estate, perhaps you should check and see if thats the case in MA. He sounds like a lawsuit waiting to happen. Good for you standing up to him!!!!!!

Nov 20, 2008 10:15 PM
Chip Jefferson
Gibbs Realty and Auction Company - Columbia, SC

I will refrain from my thoughts on Attorneys. But I will say I have met a few that genuinely cares and diligently helps clients. FEW.

Nov 20, 2008 10:35 PM
Steve Loynd
Alpine Lakes Real Estate Inc., - Lincoln, NH
800-926-5653, White Mountains NH

Sounds Like a narcissistto me, did you ever meet this attorney, I would be interested in your face to face impression. Good for you kicking the attorney to the curb!!,

Nov 20, 2008 10:50 PM
Charlie Ragonesi
AllMountainRealty.com - Big Canoe, GA
Homes - Big Canoe, Jasper, North Georgia Pros

I love the way you wrote this post . It is so easy to read between the lines about how you thought of him. Loved the blopg you have a kindred spirit here

Nov 20, 2008 10:53 PM
Bobbie Files
Success Real Estate - Taunton, MA
Realtor, Berkley, Greater Taunton Homes for Sale

Steve - He stopped talking to me a few days before the closing...my guess is that it had something to do with me tearing him to shreds quite loudly and emphatically. The face to face was hysterical.  He is a short, bald man, well I don't know about man .. BUT .. he wouldn't even look at me! I would have felt sad if he didn't prove himself yet again to be the idiot!! He actually explained to my clients about capital gains and and the fact that they won't be assessed any because of the sale price. Can we repeat SHORT SALE!!!!!!

Nov 20, 2008 10:59 PM
William J. Archambault, Jr.
The Real Estate Investment Institute - Houston, TX

Wow, a tackless attorney.

Traditionally a competent buyer's agent had much better success of a "short sale" than the sellers agent, but times change.

Unfortunately, competence and "short sales" don't often appear together. I wouldn't put much faith in this attorney, if he can't negotiate with you how is he going to handle the bank's bureaucrats?

Good Luck and please keep us informed.

Bill

Nov 20, 2008 11:02 PM
Bobbie Files
Success Real Estate - Taunton, MA
Realtor, Berkley, Greater Taunton Homes for Sale

Charlie - It was love at first conversation between me and the boob. Thank you for your support! Most people aren't so easily willing to admit they are like me...you've got guts!

 Laura - Most attorneys are good, ethical, hardworking, responsible ----UGGHHH yack, puke and gag!! But seriously there are a few good ones and I agree FEW!

Kelly - Massachusetts will give any attorney who pays the licensing fee a real estate license. Give a check, get a license, no skills required.....Maybe that's why we are called MassHoles.

Nov 20, 2008 11:06 PM
Kathy Knight
Intracoastal Realty Corp - Wilmington, NC
BROKER, ABR, CRS, GRI, SFR, SRES

Guy had his hand in everybody's pockets - a find JD.

Nov 21, 2008 02:51 AM