Who’s Looking Out For the Home Owner?

20100430-3k-homeownersThe entire gang (Kevin, Fred and Coach) tell a crazy story about a buyer who pulled out but wants to get paid.

This caused Fred to pose the question: “Who is looking out for the homeowner?”

Remember you duty is to the client not the bank or potential buyers. 

4 replies
  1. Mark Bernard says:

    OK fellas this sounds somewhat familiar to the group I posed a question about a while back. If you know -what is the relationship between the seller and the agent? If this is the same group they are family. To me this is all a big scam. Don’t let people like this get away with degrading the process in the name of greed.

  2. Realtor Ron says:

    Guys, come on. You know exactly what this is. This is short sale flipping. Coach knows what this is, I know he does. This is exactly what I did in ’09 about a dozen times and it worked just fine.

    Yeah sure I had Realtors that called me up and weren’t happy with it. At the end of the day, just don’t put an offer in on it if you don’t like it. The investor was stupid to allow the multiple offers language in the contract. As far as the $3000 fee, I’m sure that is a negotiating fee, in so many words.

    When the investor “negotiates” the property and can’t get enough spread then he must step aside and allow the A-C transaction to take place. I don’t agree with the $3000 fee though. That is ridiculous. The “backup” offers where to go to the investor for his B-C side. With that being said, you guys are right. It just sounds like the so called “investor” didn’t know what he was doing.

  3. Broker H says:

    1) Did you guys say that the investor buyer stepped out of the deal by withdraing his contract?

    2)If is contract was withdrawn, did he later come back and say he needed a fee of 3k to release his contract?

    3) Did this investor base his position on the fact that he recorded a notice of contract against the property?

    Great show. thanks for the clarification.

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