Advise on cash only,contract returned.

**hounddog** · 01-24-2009, 05:58 AM

I found a new home in foreclosure.$54,900. I submitted a earnest money check and a contract.A not very nice agent informed me it was a 'cash'only deal with a 10 day or less closing once contract submitted.He returned my check etc.I now have the ability to pay 'cash'(about 10 days later) and now I find out a contract has been excepted on the property with a 3/30/09 closing date! I am furious to say the least. I am going to contact the not so nice person I dealt with 10 days or so ago and ask them to correct their 'mistake' I am prepared to close at anytime now.What would/should I say or do or threaten him/them with.Thanks Hounddog

**Codythebest** · 01-24-2009, 12:19 PM

Get your docs handy and sue him/her...
You may also go here if (s)he's a real estate agent in GA.

**hounddog** · 01-24-2009, 08:44 PM

Thanks.I want to force the agents hand to step up and do the right thing.I nor the realtor I'm using have been able to make contact with REO SOUTH whom is handling the property.Hopefully Monday.Trying to also figure out whom the BROKER is for REO SOUTH.They are not forward with info.Any more advise out there?

**donrock** · 01-24-2009, 10:33 PM

Make sure you have all your ducks in a row before you start talking about suing someone. Have you talked to the agents manager? Are you sure your offer was valid in all respects. You might want to consult a RE attorney with the info you have. Go slow with the suing because that's one of this countries problems. Every time something doesn't go just right someone is ready to sue.
Good luck,
donrock

**hounddog** · 01-25-2009, 05:49 AM

Agent and whomever in REO SOUTH is next to impossible to get info from like whom is the broker.Lots of BLOCKERS on their end.Monday(tomorrow) my agent and a someone else I know will be trying to find out whom the broker is.Yes all of my ducks were in a row when offer was made/rejected. I hate the word sue also.BUT I'll get in real trouble breaking a nose with a good piece of Hickory.Some folks know they can do and say things and its hard for anyone to do anything about their actions.First I need to track the son of a gun down and ASK what they will do to rectify the issue.THEN if no joy I'll get the suing/realtor board involved.I mean read me the riot act about a 10 day closing/cash only and then show a contract on it with a MARCH 31 closing.I'm no in the postion to close it out in ONE day if they so choose.

**markbrian** · 01-25-2009, 07:19 AM

Hounddog, I hope you stay on their trail like a bloodhound! Make them explain themselves, acoount for their actions, etc.

But one bad thing is it may turn out to be a case of he said/she said. Unless the contract or other paperwork you submitted has something written on it to the effect of what the other agent said & did, it may get to be hard to prove. But by no means am I suggesting that you not follow up on holding this agent accountable.

I am, in fact, begging you to hold this agent accountable for their behavior. Please let us know how it turns out.

**Greg** · 01-25-2009, 07:19 AM

It is beyond the power of this agent to change the contract in already place. So you will not win there.

You did not lose any money so you have no damages to win.

To sue you will have to give some lawyer a minimum of $5-10,000 up front.

Even if you win you will lose.

Now that you have your funds lined up forget about this loser agent, move on and find another property. There are plenty of them out there.

**hounddog** · 01-25-2009, 07:49 AM

Not ready to move on.Even if I lose the property I'll do more then nothing with REO SOUTH and agent at Wells Fargo.If REO SOUTH agent and their one and only agent with Wells Fargo can change the tables on me like he/they did they can give a big effort to rectify the situation.If not I'll at least get the real estate board or commission involved.This could have been a win/win for both parties if it had been handled in a business like manor instead of curt,rushed somewhat frantic attitude by Reo South/Wells Fargo agents.My agent was told the same thing as I.It might be a whom said but their is two of us told and handled the same way.Agent and myself.I am prepared to close this property on Monday if they so choose.Not March 30 like whom evers contract reads.If the accepted contract was a Jan 30 or Feb.5 date I would not be doing this.But March 30 is hickey.

**markbrian** · 01-25-2009, 09:23 AM

I think Hounddog needs to pursue this not because of money but because of the principle involved. Until all agents understand they can and will be held accountable for their actions, this type of behavior will continue.

This about more than money I think. It is about people in a postion of trust doing the right thing.

Whether or not Hounddog wins or loses, if he brings attention to the behavior of the agent, he has accomplished something worthwhile.

**donrock** · 01-25-2009, 10:55 PM

Probably the best thing to do at this point is to put your information in letter form and send to the realty board and whoever ministers real estate in your state. When you've done that forget it and move on. Don't let it get in your way of making money in real estate. Put the energy you're putting into this into finding more deals. Satisfaction often costs a lot of money. Don't be pushed into pursuing this by other people who won't have any money involved. It's easy to say sue them when it isn't going to cost any time or money.

Good luck,
donrock