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Updated over 5 years ago on . Most recent reply

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Mark Miles
  • Rental Property Investor
  • Philadelphia, PA
658
Votes |
503
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Is my agent on my side or not?

Mark Miles
  • Rental Property Investor
  • Philadelphia, PA
Posted

On this property that I'm buying, the sellers have caused a number of issues after we went to contract.

As an example, due to a few issues caused by the sellers, we were only able to partially complete the home inspection. Per the terms of the signed purchase contract, my buyer's deposit was due the day after the home inspection was COMPLETED. My agent was rather nonchalant about the fact that the home inspection was only partially completed (due to issues caused by the sellers), and told me to be sure I drop off my deposit the next day since the home inspection was performed. I was pretty annoyed by that (since, per terms of the contract, the home inspection is not yet COMPLETED).

I wanted an agent who would hold the sellers accountable and get them to make the entire home available for inspection before I provide the deposit. Am I being unreasonable here to expect that my buyer's agent would actually do what's best for me in this transaction, rather than being nonchalant about issues that the sellers cause, and trying to move me forward rather than holding the sellers' feet to the fire to properly perform per terms of the contract? I'm curious to hear how some experienced agents respond to this... Thanks in advance for your valuable input!

Most Popular Reply

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17,425
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,068
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17,425
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

You need to specifically say here what wasnt inspected and why, and whether state law dictates that the EMD be deposited at a certain time.

And to Dennis trashing of agents, take that to mean he likely doesnt know how to pick a good agent. Many of us agents that operate at the top levels are able to secure discounts that would blow your mind. I just earlier this year got about $300k off a list price for my buyer. Closing the deal at the highest price when you are on the buy side isnt the incentive. We sont care about the small amounts of money that we are leaving on the table for ourselves when we are able to secure hige savings for our clients.  We have businesses that are built on referrals and good will. Getting my buyer $300k off, which would be almost $10k less for me on the transaction will equate into many hundreds of thousands of dollars from referrals from that client.

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