All Forum Posts by: Donna Drake

Oops, I forgot...I bought a small historic house in Clarkdale. I love it!

Read, you are the best! I can't thank you enough for your time and help.

Yes, I think buying the title insurance is the only way to go and worth the expense. You made me decide to do this without a doubt. I am printing your response and taking it with me.

Thank you so much!

Donna

Hi all, Hope this posts, I'll give it a try.

The house is in Arizona not Washington. In Arizona most auctions go through Bosco and Tiffany Trustees, for all counties.

I did my own lien search, and someone else told me to go through a title company to make sure. I was told it costs about $450, a lot for me right now, but I'm thinking I should do this. Thanks, Steve. I don't know what all of what you wrote means...But I'll write it down, and have it with me. Would it protect me from having to pay if there is a hidden lien?

Thank you all for your well wishes! Everything in the house is up and running and looking good!

Hi everyone,

I recently posted asking questions on how to purchase a house at auction. Every time I replied to your responses, they wouldn't post, so I'm starting a new thread to let you know the outcome.

I won the house. Two investors were there and dropped out early in the bidding. I was bidding against a couple who saw the house for the first time over the weekend, and they did bid me up, but I still got the house for a steal!

The house had a starting price of 118K less than what was owed. I could have won for a dollar over if I had been the only bidder. The starting price in my area is the starting price. I checked for lien's and taxes and all was good, and I thank you all for your great advice! You had a great discussion going in my previous thread, and I'm sorry I couldn't join in.

I plan on moving after the new year! I wanted to write and thank you all! This web-site has proven to have very caring and helpful people. I really appreciate your knowledge and the time you all take to help someone realize their dreams.

Sincerely,

Donna :D

Hi all,

For everyone who knows me, My second offer fell through!

My first offer is back on board. They are using a new bank, (Anyone but Chase,) with a VA loan.

Does anyone know the in's and out's involved with the process of loan's from the VA? Last time around, no one seemed to know what they were doing, and the VA loan became one big mess.

I'd love to be able to pass on information, or hear any stories, on how to smoothly obtain a VA loan.

Seems like one might need to know a Five Star General to do this!

Thank you all!

*I am thrilled to be working with these people again. They truly love and want the house, and this is how it should be.

Thank you Celine,

You were very clear and precise. To answer your question, my fist offer was a very good one. They just had to extend the closing to 60 days.

Before I took the second offer, we made sure her loan was in place and she would be able to close on Sept 23rd.

I really needed to have a heads up on what an inspection entails.

Realtor's need to teach their clients as the process proceeds. Mine did not. I was not prepared for an inspection because of this.

Many repairs are completed. I am giving my buyer money off the sale for the rest.

I was led to believe the only loan we needed to worry about was my buyers. Once it cleared we could proceed safely. I did not take her on until I knew this.

Then her buyers lack of cash came into the picture.

All of this over 10K? How weird is that?

I have done all I can. I can only hope my buyer takes care of this little 10k problem. I certainly am not going to pay it.

My sale is now less profit for me than from my first buyers. Not good.

Realtor's need to understand, as their clients, we don't know the business and need to be taught, not left in the dark.

I cannot stress this enough! We need to understand what is going on before we make these very important decisions!

My buyers extension is up today. Last minute? Of course. But it's time to close or get off the pot!

Thanks again all of you. I know it's clear that I am bitter, but I don't work in this business. I see it through virgin eyes, and there as been a lot of mistakes, screw ups, incompetence.

More than I've ever seen. It has left me stressed and astounded.

Hopefully we'll close soon.

You're right Joel, that is how it went down.

I'm very much in the dark as to what really happened.

Why would I care about by buyers, buyers, buyer. They have very little to do with me, yet they were the ones with the cash.

I would not have taken my buyers offer if I had known this.

Now I'm being asked to call the gas company and "lie" to them and say that I smell gas so that we can be sure the gasline has a sleeve.

More lies, The buyer can hire a private contractor if she wants. These are old and newer homes on this street. The gasline has been what it is for years.

Or she can call and lie....

This won't kill my sale, and my point is here come more lies.

I said "no" to this.

Anyway, clearly all that is going on is typical of selling, and time to go with the flow and see what happens.

She either wants the house or she doesn't comes into play as I can only do what I can do at this point.

I'll keep you posted.

Thank you all,

It brings tears to my eyes having such great help from strangers.

All very good advice. This Contract is very vague. This is a "Back-up Contract- contingent upon cancellation of prior contract. Giving my buyer time to close her home. Till the 29th Sept.

I have taken care of many of the stupid requests myself. This was very lazy on her Realtors part. They just said they wanted everything fixed by a licensed contractor that was in the inspection, and you all know how the inspections read, fix every little crack. By the way, no cracks on my home....

I was advised to give up my first buyer, who waved an inspection for this? Yes, I was.

I have been dealing with selling this house for close to a year. My Realtor has 30 years experience. If I were a Realtor I would never advice a buyer to walk away from a sale that offered no inspection. Everyone involved needs to go back to real estate school.

I plan on fixing things to my buyers satisfaction. I must.

I'm now getting her mail as of yesterday. Thats a good thing.

The bottom line of all of this is that the only reason I let my first buyers go and take her on was that I was told she had a cash sale on her home, and she didn't, and her buyers are short 10K.

Heads should roll for this. This was not true, and in the land of real estate this is ok? Lie and do what you must to get the commission?

I agree at this point to focus on closing, but honestly, I will never forget this, and I find it horrific that something can't be done about it.

No, this lie isn't in writing, so I guess it didn't happen.

I'll keep you posted and let you all know how things turn out.

Kudo's to you all that work in this business. I hope each and everyone of you are strong in your values. It's needed.

I promise to move ahead and let this go and focus on making her happy and closing this deal.

You've all helped me get my heals out of the ground.

Must go now and e-mail my Realtor and tell her what to do next. By the way, she didn't even remember we were told my buyer had a cash sale. She remembers nothing.

Ok, now I'm just venting.

Thank you all again,

Donna

Ok, thank you,

The contract doesn't say anything about it being a cash offer. Just says 2000K down in EM, and 86K buyer's additional down payent for buyer's funds. 92K Balance of purchase price from my buyers new loan.

Nothing about cash. I guess if she walks since the inspection scared her, and she is not here so I can show all is well I get nothing. Right?

Thanks for your answers. I would love to keep the EM if we get to that point from the BS presented. I'm learning.

She wanted everything fixed on the inspection. Some truly stupid things I will not do. I won't fix what ain't broke.

Important things are done.

Thanks for your reply's.

Hi, all,

My closing date has been extended to the 29th of September as my buyers buyer is shy 10K on their loan.

I had two offers, and chose the second offer because she was supposed to be a CASH sale.

This is not true. The Realtors lied to get me to go with the second offer. Harsh words, but true.

The inspection scared my buyer to death, although these are minor issues already taken care of, and to be expected in a older home.

Back to my problem. I may not close because my buyer is still in Colorado waiting to see if her buyers complete their loan process.

There wasn't supposed to be any loan! I let perfectly great buyers go as I was LIED to about this being a cash sale.

Who do I turn to to report this falsehood? This is unacceptable, and no Realtor should get away with this.

When confronted all they said was, "sorry."

What do I do about this? If anyone knows, it will be you all on this forum.

I am not going to sit back and let this go. I may lose my sale because of this.

HELP!

Thanks,

Donna