swisha Posted June 18, 2009 Share Posted June 18, 2009 So...I need some advice. I am in contract to buy a short sale home and in the process of waiting for the seller's lender to approve the sale. My real estate agent has just emailed me without any prior knowledge that he is going to out of the country in a week and won't be back for a month and his handing me off to his co-agent! I am outraged. Now, let me say that I absolutely agree that he has his rights to take a vacation. However, the possibility of him leaving the country for a month should have disclosed to me before we conducted any business. Please tell me what options I have. I do want to purchase the house, but this unprofessional service is unacceptable. Do I have the right to void my contract with my agent? What can I do? Thanks. Link to comment Share on other sites More sharing options...
fullnelson9999 Posted June 18, 2009 Share Posted June 18, 2009 As long as the co-agent knows what hes doing i dont see a problem. Is it unprofessional to go on vacation? Probably. But as long as the co agent is getting the commission instead i say go for it. Link to comment Share on other sites More sharing options...
LaxBuddy21 Posted June 18, 2009 Share Posted June 18, 2009 Honestly, it may take a month or more for the sellers lender to approve the short sale. I waited 2 months for a short sale until I finally gave up. I really wanted that place too but I couldnt keep waiting any longer. The banks really are in no hurry to process those. At least your lender had a backup plan for while he was on vacation. Im sure the other person is just as capable so there should be no real worries. Good luck! Link to comment Share on other sites More sharing options...
Midnight Judges Posted June 18, 2009 Share Posted June 18, 2009 There was probably a condition in your original contract that says he can do this. Link to comment Share on other sites More sharing options...
IbleedBnG83 Posted June 18, 2009 Share Posted June 18, 2009 Short sales take a WHILE before they get approved. And whatever price the seller has posted is NOT the actual price. Its usually so under value that it is inticing, but the bank in no way will agree on it. It has to go through soooo much red tape. I gaurantee that your agent will be back before you are close to closing on the home. But, I do think you are entitled to get out of your contract with your agent since he is not completely fullfilling his side. Link to comment Share on other sites More sharing options...
TMK9973 Posted June 18, 2009 Share Posted June 18, 2009 As others have said, you will be waiting a long time (In fact, I continue to say that the first step to fix the housing crisis should be to pass a law that says banks have to respond to a short sale within 14 days, and a rejection has to come back with a counter offer). I would meet with the other guy, if you like him, no problem. If you don't, void your contract. Link to comment Share on other sites More sharing options...
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