Good morning /r/RealEstate! How you doin?
Last night I got a call from an out of town "relative" who excitedly told me he "bought a house today" and "would be busy for a few days." Well he means he "won a bid" and "needs to talk to his credit union," and stuff like that. I reminded him to get that inspection scheduled and suggested he'd actually be busy for a few weeks. He was very excited so I'm not sure what I said sunk in.
It was clear to me that he has no idea how many things can fall apart at this point. The inspection could go badly. The credit union might decide he's not as credit worthy as they thought he was months ago when I told him to find a mortgage broker. Interest rate might be higher than he anticipated resulting in a higher payment than he anticipated. There might be stuff that does not pass muster with the VA appraisal -- I have no idea if the agent understands VA property condition requirements, and the seller might throw a fit about how he's not going to fix anything. It's an area of Texas with plenty of small suburbs that used to be exurbs where City Hall still acts like it's the old west, and at least one of them requires Certificate of Occupancy on apartments for pity sake so who the heck knows about SFR. And then there's the inevitable Last Week of Escrow Snafu. And since a) I know apartment law in Texas a lot better than general real estate law and b) I'm not actually his agent with his contract in hand, there's a limit to what I can do to be helpful.
There's a reason I did not ask for his new address last night. It's not a done deal until it's done. And if you think you're his agent, would you mind pinging me?
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source https://www.reddit.com/r/RealEstate/comments/13qn85l/agents_please_educate_your_clients/
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