URGENT: Can a buyer real estate agent be changed before closing?

[Olga Kostrova]

Hi guys,

I need some urgent advise. 

I am experiencing something that I didn't think could be the case.

I am about to close on a condominium in Virginia Beach and am completely out of sync with my buyer side agent. I don't know if I will be able to close unless I change my representative.

As much as I am not feeling good about doing it, I cannot see the alternative.  And I know for sure, I am not going to work with her on further transactions.

So, the question is, how can it be done with least pain?

I still want her to get at least a portion of commission and would hope that a new agent will share it with her as practically all the leg work is done.

We just need to submit closing extension (today) because there is no way I can close on Monday, logistically.

Now, I don't know how the seller could view the agent change at the same time as I am requesting a closing extension. He might grant it, he might not.

My offer was cash, no inspection, 10 days closing. I don't believe it should be as hard as it's been so far with this deal.

I really need help with this.

[Ben Zimmerman]

Originally posted by @Olga Kostrova:

I wanted to do it at the pace that makes since for me.

A 10 day closing isn't the time to do things at your pace, a 10 day closing is peddle to the metal while you engage the afterburner.

You mention some HOA stuff, but later go on to say that ultimately you are ok with the HOA stuff, except you don't like the manner in which it was presented, and instead the real problem is that your agent is pushing you to close when you aren't ready to close due to funding. Why would you try to fire your agent for pushing for you to get your finances in order like you said you would when you put an offer on a 10 day closing.

If you're making quick close, cash offers, you need to have your finances already lined up, the fact that you aren't ready isn't your agents fault.

The investment account should have been liquidated the day your offer was accepted, that way the funds could transfer and settle and be ready to go on closing date. Trying to leave the funds in the account for an extra few days trying to squeak out a few extra cents in interest while you 'qualify' the house seems silly. If I was the agent and my clients money wasn't ready to go after we had offered quick cash close then I would be losing my mind right about now.

A 10 day no inspection, quick close, with cash offer should only be used when you know you want the house no matter what. It's not the time to be picky about subsections of an HOA agreement nor is it the time to slowly start getting your finances in order.

I'm genuinely not trying to be mean here, we've all made mistakes in our investing careers, myself included.  Making mistakes is how we learn and improve ourselves.  However I think it's important that we first acknowledge that a mistake was made, as we can't learn from our mistakes until we recognize that we have made a mistake in the first place.  Not having funds available on the date of closing on a cash deal is a pretty big mistake.