Seana Johnson, Coming back to my roots - renewing RE Lic (AgentProfesor)

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Rainer
29,112
Seana Johnson
AgentProfesor - Orem, UT
Coming back to my roots - renewing RE Lic

Look guys, Please don't send me answers like this one:  

This question gets asked weekly...the students should check with each other on FAQ's and send us some fresh Q's

We - the students are just doing our assignments and you don't have to take the time to answer...  Just ignore if you don't have the time or patienst for us. But please don't make us feel bad for asking a question suggested by our profesor. Thanks. 

 

Dec 07, 2016 10:14 AM
Rainmaker
1,231,001
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

I'm in the middle of one right now over commission owed me.  Won't comment on it until after I'm done.

Dec 07, 2016 02:51 PM
Ambassador
3,282,539
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

I had a buyer who had gotten through the entire Due Diligence and the sellers decided that they didn't want to sell!  My clients had spent a good deal of money in the way of a deposit, appraisal, inspections, Title/attorney and survey fees.  

I had an attorney write a letter to the sellers and they reimbursed my buyers for all expenses, including the attorney fee for his intervention.

As it turned out, the buyers wound up with a better home and are happy as two peas in a pod in home #2!!

Dec 07, 2016 08:12 PM
Rainer
30,636
Vanessa Aparicio
Realty Empire Inc. - Miami Lakes, FL

Haven't had one yet and don't plan on it!

Dec 07, 2016 07:49 PM
Ambassador
2,352,394
Fred Griffin, on leave of absence from ActiveRain
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

     Can't recall. 

    If a dispute arises, I would encourage the parties to settle it.  If they cannot come to an agreement immediately, then seek legal counsel from an Attorney.

Dec 07, 2016 05:04 PM
Rainmaker
3,981,241
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

Property line.   Arbitration

Dec 07, 2016 01:24 PM
Ambassador
3,082,073
Paul S. Henderson, REALTOR®, CRS
RE/MAX Northwest. - Tacoma, WA
Tacoma Washington Agent/Broker & Market Authority!

People trying to renegotiate hours before closing. Deal fell through!

Dec 07, 2016 12:48 PM
Rainmaker
4,432,093
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

You should let attorneys handle it.

Dec 07, 2016 12:23 PM
Ambassador
3,675,572
Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Seana, mine never get to the point where they could really be called a "dispute".  Negotiating minor differences is a crucial skill - avoid disputes in the first place.

Dec 07, 2016 11:24 AM
Ambassador
2,841,999
Anna Banana Kruchten CRB, CRS 602-380-4886
Phoenix Property Shoppe - Phoenix, AZ
Arizona's Top Banana!

Seana it wasn't my transaction but rather another agent I knew.  The agent put a deal into escrow and thought his investor was buying one house when in fact they closed on another home down the street. Totally wrong address, legal descriptiong etc.  The house they thought they bought was totally remodeled. The one they actually bought needed about 30K of work.  Talk about a screw up. 

Dec 07, 2016 11:24 AM
Rainmaker
1,373,397
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Seana Johnson A lender decided not to fund my buyer at the closing table after underwriting was approved. This lender had us come to the closing table on three different occasions. There were no issues with my well-qualified buyer. My buyer got very frustrated and decided to walk.

Dec 07, 2016 10:45 AM
Rainmaker
5,347,478
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

The worst cases are those that fail to reach settlement.

Dec 07, 2016 10:42 AM
Ambassador
3,968,621
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I fortunately have not had a contract dispute to deal with but if I did my broker would be involved as would, potentially, mediation and arbitration, depending on the issue. I did have a dispute around non-disclosure by a seller that was resolved between buyer, seller and listing agent

Dec 07, 2016 10:40 AM
Ambassador
1,631,683
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I really don't dwell on the negatives, it's just another brick in the wall.

Dec 07, 2016 10:40 AM
Rainmaker
1,434,002
Yolanda Cordova-Gilbert
Richmond, TX

Since I am a builder's rep so it would go to our legal department, I personally have not had this experience!

Dec 07, 2016 10:22 AM
Rainmaker
1,054,288
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good luck with your studies 

May 22, 2019 12:28 PM
Rainmaker
3,243,261
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Personal property versus a fixture! Each party has a different opinion. If you think it is going to be a problem put it in writing in the contract!

Dec 08, 2016 06:30 AM
Rainmaker
3,052,041
Tony and Suzanne Marriott, Associate Brokers
Haven Express @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Probably best asked of miscreant Buyer Agents for some of our Short Sale listings!

Dec 08, 2016 05:23 AM
Rainmaker
3,060,499
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Have not had any such disputes.

Dec 08, 2016 04:21 AM
Ambassador
4,169,222
Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Not going there, will be focusing on the positive.

Dec 07, 2016 07:38 PM
Ambassador
3,982,889
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Contract delays that don't close on time cause problems especially if interest rates are rising. If the seller is reason for the delay the buyer may ask that they pay the interest rate increase penalty or lock extension.

Dec 07, 2016 06:29 PM
Rainmaker
2,976,475
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

There was a typo instead of $395,000 it read $95,000 and the buyer insisted to buy at 95k ad not the 395k price. It went to court where the judge ruled against the buyer and tolld her to be ashamed of herself for trying to take advanatge where all other communication said 395k. 

Dec 07, 2016 04:05 PM
Rainmaker
396,624
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

Arbitration which we won, but after many sleepness nights and lots of weight loss. Avoid this at all cost!

Dec 07, 2016 02:02 PM
Rainmaker
756,766
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Seana,

This year my worst expedience with real estate transaction contract dispute centered around the heirs coming to agreement on the value of the pots, pans and table settings. One came up with $42,000 while the other was willing to pay to have the place cleaned out. 

They did the American thing and each called in their attorney's. Buyer bailed out at the first mention of attorney.

The court appointed a trustee assigned the sale to another real estate professional. 

Each paid $60,000 in legal fees and turned simple into a real mess.

My investment added up to a total loss.

Dec 07, 2016 11:16 AM
Rainmaker
2,446,686
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

When there is an impasse, its serious and things breakdown. The cure? Give in some and the other will too. Of course the best way is preventative

Dec 07, 2016 10:22 AM