Skip to main content

My realtor decided without informing me for the escrow funds

I bought a out of state multi family. The closing last 4 months due to the seller not performing the repairs per our initial agreement. we agreed on foundation repairs to be done by the seller. However, because the seller wanted to close quick, he got a quote from a company ($16k) I got mine from another contractor to avoid any potential collaboration between the seller and the company, they quote at $18k but the seller refuse to go with my contractor, to save $2k. I was ok with that as the funds ($16k) would be withhold in the escrow account and will be released only if I have a reinspection report that attest they did the job correctly.

The work has been completed since September 8th and I wasn't notified. I called the title company and they told me my realtor agent informed them to wire the funds to the contractor which they did without informing me.

I contacted my realtor agent yesterday (3 weeks later) to understand his approach and why he proceed without event informing me the work has been completed. He told me the seller agent was pressuring him to release, without even acknowledge this is appropriate.

Now I am very confused. I don't know what incentive the seller agent could have and I suspect they are all working together and trafficking something off.

Besides that, throughout the 4 months process, I noticed a crucial lack of communication from my realtor agent and fell like he is by the seller side and not defending my interest (the seller agent is his friend)

Am I overreacting? Any thoughts? Should I report my realtor agent for such unprofessionalism? If yes how?

submitted by /u/cococpa
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/16ucer1/my_realtor_decided_without_informing_me_for_the/
Labels:

Comments

Post a Comment

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...
Post a Comment
Read more

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more