Foreclosing before closing!

**Hasbro** · 10-06-2009, 04:58 PM

I recently made an offer on a home and a negotiated price was agreed upon. Using my VA loan, an appraisal was done, which came in $20K under the agreed price. I was told that the seller would have to bring $10K to the table (?) to close and could not so the house is going into foreclosure. My realtor claims not to have known anything about this and says there is nothing I can do. What recourse do I have? Also my realtor lost my earnest money check, I have out a stop order on the check and do not intend to provide another until the realtor does something!

**Invest with Rosch** · 10-06-2009, 04:59 PM

That is terrible.

I would contact your realtors Broker since the realtor doesnt seem to know what is going on.

**dognponyshow** · 10-07-2009, 05:36 AM

Originally Posted by Hasbro

Also my realtor lost my earnest money check, I have out a stop order on the check and do not intend to provide another until the realtor does something!

Wait, what? Why would you "provide another" when the deal is dead? As far as the check itself is concerned -- this is the sort of issue that needs to be brought to the attention of the broker/office manager and perhaps the Real Estate Commission.

If you're really interested in pursuing this property, now might be the time to terminate your agency agreement with the current agent (if you signed such an agreement) and find one that can help you.

And just to nit-pick the term "my realtor": if you did not sign a buyer's representation agreement with this agent, he or she is not "your" agent but the seller's; if the agent is not a member of the local and national boards of Realtors