Im really really bummed

[Sunshine]

:(

[Big Muddy]

Sunny, under contract, it's hard to get rid of a realtor just because you don't like him or he went on vacation.

He may let you out of the contract, if you ask nicely, but unless he's done something really illegal, he is not....just depends on his attitude about the whole deal....also, if like here in MS, they have to report cancelled contracts to the state realtor's assn., and they have to explain the circumstances and reason for cancellation....gives them a bad reputation, if it happens frequently.

Being the devil's advocate here, but it sounds like you are regretting, not ponying up to the bank's $144K counter offer.

Hope you find something even bigger, better, and within your budget.

Do you know who the buyer was???....it would be interesting to know, if it was one of those "under-the-table" bank deals for a friend of the banker, like I mentioned, happening down here....if so, you might be able to still get that land, and at a greatly reduced price, or even FREE!!!....you are good at investigating that sort of stuff....heck, remember the water-meter man??? ;)

[Thumper]

Ya' never know Sunny. I bought a house about 10-12 years ago (investment property) and did the same dance back and forth with the bank. Same deal, the bank owned it. I gave them a final offer and they came back with a "cash buyer" who outbid me. I walked. About a week or so later, they contacted me and said the buyer backed out of the deal (some silliness about needed pool repairs or sumpin') and they accepted my previous offer. I wish I'd have told them to kiss my ass (just for principle), but I REALLY wanted the property and bought it anyway. I may have called their bluff, but I never did find out if that other buyer really existed or not.

[Thumper]

Well, "supposedly" the other buyer was a CASH buyer ... so the bank may have figured a bird in the bush ... well, you know.

With all the kinks in that property deal with no permits, inspections, etc. ... they were probably willing to take a lower cash offer over a financed deal that could possibly have fallen through anyway. Banks are in the banking business ... they really don't want to be in the real estate business.

[BarryBobPosthole]

Bird in hand Thumper......HAND, bushbrain.

Sunny keep a stiff upper lip and soldier on! You'll find an even better place for a better price. And I had to laugh about your realtor description. 'when our realtor decided he couldn't make a living selling property'. sounds like a realtor I'd get. That guy needed firin'!

BKB

[Big Muddy]

What do you mean, he was dropped in your lap???....was he suggested or hired by the bank???....if you didn't have a signed contract, you don't owe anyone any explanations....and, if you didn't have any sort of fee arrangement with him, I guarantee you that he had one with SOMEBODY !!!
Something stinks about this entire deal!!!

[Thumper]

Bird in hand Thumper......HAND, bushbrain. BKB

Ha ha ha! Oh yeah! I guess I was still hung up on the other thread regarding "natural blondedness". :D

[Niner]

Sunny, I don't know how "The Real Estate Game" works there in Washington State.
Pretty much everywhere, there are "Seller's Agents". These agents list a house/property, and then take the client around looking at properties to purchase. Also there are agents, like the one you are (were) using that takes folks around looking at houses/properties but they don't have a listing with the client. In EITHER case, the SELLER of the house/property is the one that PAYS the agent. He (she) is working for the SELLER, and has the SELLER'S best interests at heart.

Down here (again I don't know about there), there is a thing called a BUYERS AGENT. With this agent, you sign a contract with them that you will use them exclusivly in the purchase of the house/property you are looking for. They are STILL payed by the seller....but they are working for YOU. They will look out for YOUR best interest in the purchase.

When we bought our current house, back in 2000 we used a buyer's agent. See if there is such a thing as the Buyer's Agent in your area. If so, look for one that has a good reputation, and interview them.

[Thumper]

I've never dealt with a buyer's agent ... but in all my house buying experience, there's been a "Listing Agent" and a "Selling Agent". If the Listing Agent lists the house AND sells it, he/she gets the total commission. If a different Selling Agent sells the house, the Listing Agent and Selling Agent split the commission. In this instance, I'm not sure what the difference would be between a Selling Agent and a "Buyer's Agent" as either one would be independent of the bank.

[BarryBobPosthole]

Who says you can't make money buying and selling real estate?
BKB

[DeputyDog]

The only way the agent you were working with is going to make anything out of this sale is if she was also representing the buyer of the property as long as she also wasn't the agent working for the seller of the property.

Like was said before, the agent listing the property gets a commission, usually 6%, and if the buyer is working with a different agent, the agents split the commission. At least that's the way it works around here. My mom just sold her house and the agent she listed it with and the agent that the buyers were working with split the 6% commission.

[DeputyDog]

Feel bad for ya. :( But you can't second guess yourself on this, you have to believe that you made that decision with your heads and now that it didn't work out, it's your hearts that are telling you that you should have went higher.

I'm kinda doing the same thing now about my mom's house. I could have bought it, but my wife and I talked about it and decided it just wouldn't work for us. It's smaller than the one we live in now, is farther away from my wife's work, and the kids would have to change schools so we decided we didn't want it. The only pro for us was that it was on the lake. Now that it's sold, I think it's emotion pulling at us that we should have bought it. It doesn't help that the neighbors are telling us they wished we would have.

[Thumper]

...... we should have bought it. It doesn't help that the neighbors are telling us they wished we would have.

Are those your PRESENT neighbors telling you they wish you'd have moved? :D

[DeputyDog]

No, my mom's present neighbors telling us they wished my wife and I had bought it and moved next to them. Although at least one of my present neighbor's might not be too upset if I'd move. :)

[Thumper]

Why? He runs a meth lab out of the house? ;)