Do I really have to follow what it states in the purchase contract?

By
Real Estate Agent with Godzyk Real Estate Services

Do I really have to follow what it states in the purchase contract? asked the buyer. Maybe it was the puzzled look on my face for a Buyer to be asking me this question or It could have been the even bigger face I was probabily making because this Buyer has their own buyer broker. I am the Listing Agent and therefore represent the seller in this transaction so why are they asking me?

 

MR. BUYER it seems decides now that they do no want or can not follow the items in the contract in which they signed therefore agreeing to. Now my first questions is did you read the contract before signing it? My second question is if you did not understand anything in the contract you should have first asked and second not just signed it therefore agreeing to it. 

The answer that followed was even more jaw dropping then them asking me the initial question.

"Our agent said not to worry about what the contract states as it was more important to get our offer accepted and then make changes after they accepted it."

WHOA..... You put in a cash offer with no contingincies, now you are stating you are getting a private mortgage and want a home inspection becuase you plan on asking the seller to either fix everything or credit you money so you can fix it?

"Well Yes" the buyer reples....

UUUGGGGHHHH... is my first word before I educate them on how buying a bank owned home really works.

1. With a Bank Owned Home you can not renegotiate after your contract is accepted and signed.

2. Your purchase is AS IS, meaning the seller will not be fixing or credititing you for anything.

3. You can have an inspection for your own knowledge, but can not renegotiate after it is completed for anything found.

4. Your offer was for cash with no contingincies. You can not add contingincies after the contract is agree dto and signed.

5. If you do complete the purchase as you agreed to in the contract you made, you agreed to and you signed, you could be held for breach. You should consult your agent and more an attorney for further questions.

What did Mrs. Buyer Broker say about this? I don't know... she never returned a call.....

The moral of the story is that whether you are a Buyer or a Seller, you have a choice in agents. You have to choose one that is full time, full service and is well expereinced in not only the area you are buying in but the type of home. All agents are not expereinced in buying or selling Bank Owned Homes. Choose one that is.

Here in NH you can choose me to assist you in buying a Bank Owned Home and use my experience as your advantage.

 

Please call for a FREE MARKET ANALYSIS to let you know what the value of your home is.

If you need to sell your home and you owe more than your house is worth, i may be able to help. I specialize in working with home owners to get your home sold. There are many options such as a short sale whcih may be able to help you.

Please try and avoid out of state or out of town agents and companies that make "out of this world promises". We are local agents with experience who never charge any up front fees. WE GET RESULTS!!!

We stand by you through every step in selling your home.

PLEASE SEE MY "SPOT LIGHT" Series for differnt neighborhoods in NH

1.
Spotlight on FOX HOLLOW CONDOMINIUMS in Manchester NH
2. Spotlight on ROSECLIFF in Manchester NH
3. Spotlight on ROSEGATE FARM in Manchester NH
4. Spotlight on NEWTONS MEADOW Condominiums in Manchester NH
5. Spotlight on EAST MEADOW Condominiums in Manchester NH
6. Spotlight on SunView Condominiums in Derry NH
7. Spotlight on the Trolley Crossing Neighborhood in MANCHESTER NH
8. Spotlight for STONE TERRACE CONDOMINIUMS in Manchester NH

PLEASE SEE MY "TOP" TIPS FOR BUYING A HOME

PLEASE SEE MY "TOP" TIPS FOR SELLING A HOME

SUPPORT LOCAL BUSINESS!!!

ONE OF NEW HAMPSHIRE'S LEADING AGENTS FOR SHORT SALES AND BANK OWNED HOMES...

If you are Looking for a Real Estate Agent you have come to the right place. Scott Godzyk is a Full Time and Local agent ready to serve all of your Real Estate needs through each step of the buying or selling process. We are proud to be locally owned and operated.

If you owe more than your house is worth, If you are behind in your payments, I may be able to help. Call me to find out how you may be able to sell your home at no additional cost to you.

Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email sctprop@aol.com. his website is www.ScottSellsNH.com.

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Re-Blogged 1 time:

Re-Blogged By Re-Blogged At
  1. Roy Kelley 07/27/2012 08:54 AM
Topic:
Home Buying
Location:
New Hampshire Hillsborough County Manchester
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Show All Comments
Rainmaker
1,101,333
Lisa Von Domek
Lisa Von Domek & Associates LLC, Real Estate Broker/Associate with Real Living Real Estate Group www.LisaVon.com - Dallas, TX
....Experience Isn't Expensive.... It's Priceless!

Good morning Scott,

I wish I could say I hadn't heard this before, but....

Jul 27, 2012 06:12 AM #1
Rainmaker
1,920,138
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Thanks for the post. It is important to work with an agent who knows the job.

Jul 27, 2012 06:15 AM #2
Rainmaker
1,103,438
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

LISA I sure hope this is not a trend to come, buyers will soon find losing their deposits is not as fun of a game as they try to play with the sellers of these bank owned homes.

Jul 27, 2012 06:16 AM #3
Rainmaker
1,103,438
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

GITA it sure is, it can mean the difference between getting your dream home and losing it.

Jul 27, 2012 06:17 AM #4
Ambassador
1,190,004
Dick Greenberg
New Paradigm Partners LLC - Fort Collins, CO
Northern Colorado Residential Real Estate

Hi Scott - It looks like there is plenty of work for attorneys up in your neck of the woods. Might be some potential for a real estate school, too.

Jul 27, 2012 06:56 AM #5
Rainmaker
1,103,438
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

Dick I agree on both fronts. Some days I really wonder.... thanks for the comment

Jul 27, 2012 07:00 AM #6
Rainmaker
2,005,293
Roy Kelley
Realty Group Referrals - Gaithersburg, MD
Roy and Dolores Kelley Photographs

Very good advice for home buyers.  I is a very good idea to understand the obligations of a contract.


Have a great day and an outstanding weekend.


Jul 27, 2012 08:48 AM #7
Rainmaker
801,336
Al Raymondi
Ocean View Realty Group in Ormond By The Sea Florida - Ormond Beach, FL
Ormond By The Sea Florida - Home and Condo Sales a

Another example of an agent that has no clue what they are doing Scott.

Jul 27, 2012 09:56 AM #8
Rainmaker
569,853
Rene Brin
Brin Realty Amherst & Bedford Offices - Amherst, NH
Amherst NH homes and Southern NH real estate

Yes sir, so true Scott. Buyers need to understand, buying a bank owned can be a good deal, but they need to be guided by an experienced local agent to get them through it.

Jul 27, 2012 10:33 AM #9
Rainmaker
1,103,438
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

ROY it certainly is a good idea to understand the contract BEFORE signing it.

Jul 27, 2012 12:33 PM #10
Rainmaker
1,103,438
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

AL I think you are on to something. Some times I really wonder...

Jul 27, 2012 12:34 PM #11
Rainmaker
1,103,438
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

RENE well said, it can be a great experience and a real bargain when done right, but it takes an experienced agent to make it work

Jul 27, 2012 12:35 PM #12
Rainmaker
1,486,630
Lawrence "Larry" & Sheila Agranoff. Call 631-805-4400 (c)
Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo & Home Sale Specialists

Scott, Do you use attorney's for the closings in your area? Would imagine that would be the first one to go to for advice, after the non-experienced agent gives the wrong information...gotta wonder how these agents get the business????

Jul 28, 2012 04:29 AM #13
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Rainmaker
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Scott Godzyk

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