Real Estate 1, 2, 3

By
Real Estate Broker/Owner with Riede Real Estate, Lic. 01310792

Real Estate 1 2 3This morning I received a counter in response to an offer for my FHA home buyer. This REO agent crossed off an item I had typed on the Purchase Order.

This is a BIG NO, NO!!

Real Estate Agents, if you are not aware, please become aware that you NEVER change or cross off items on a Purchase Contract.

That is why we have Counters!!

Please learn to use them. Counters are used to indicate what the Seller will NOT cover nor accept.

I am continually surprised at the lack of knowledge out there in the Real Estate world. We have rules for a reason, we have forms for a reason. Please learn to use them properly.

While I'm at it, One of my pet peeves is to read agents who continually write that if a home buyer's offer is not accepted that the buyer needs to get another agent. Or if a bank has not responded on a Short Sale in a timely manner, that the Seller should get a "qualified" agent.

These are blanket statements which in my humble opinion should NEVER be used. It is only the agents who are so unaware and lack experience that make such claims. Unless and until you, as an agent are aware of every buyer's situation, all the ins and outs of their loan terms, whether or not the buyer needs funds back from the bank for closing costs, etc. you have no business making such claims.

Not all banks handle Short Sales the same...

As an experienced Realtor knows, no two deals are alike, nor are buyers or their needs. Loan terms differ. Let's learn to stop making claims such as I have read right here on Active Rain by a limited few. If a home buyer was not  selected by a Seller or if a bank has taken an exorbitant amount of time to respond it is not necessarily due to the agent representing the parties in question. Let's not assume and make statements that the agent is not doing a good job and should get themselves another agent.

You do yourself and others an injustice by making such rash claims. It only shows your lack of experience in making these ridiculous statements!

Brought to you respectfully in hopes to reach those who don't seem to know any better.

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Comments 12 New Comment

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Rainer
56,130
Laura Karambelas
Realtor - Downers Grove
Baird & Warner Downers Grove

I've never had an agent cross anything out, but added things in after it was signed.  That is also a big No No.  Thanks for posting.

January 28, 2009 12:41 PM
Rainmaker
227,385
Troy Erickson
Your Chandler, Ahwatukee, and East Valley Realtor
Terra Solis Realty, LLC www.ChandlerRealEstate.weebly.com

Wow, these things are a definate no, no.  I have a feeling that either those agents will learn the right way to do things, or eventually they will leave the industry. 

January 28, 2009 01:04 PM
Rainmaker
246,143
Gena Riede
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Riede Real Estate, Lic. 01310792

Laura, you've got to be kidding! WOW!! I'd love to know how you handled that. It would be a good learning experience for those reading. Thanks for sharing that...I would have never thought anyone would have done such a thing.  It takes all kinds!

January 28, 2009 08:42 PM
Rainmaker
246,143
Gena Riede
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Riede Real Estate, Lic. 01310792

Troy, let's hope! You might want to add that they also might get fined or sued to that list.  Hard to believe that anyone would do these things. I guess they don't realize the consequences of their actions...and boy are there ever consequences!!

January 28, 2009 08:44 PM
Rainmaker
536,368
Lynda Eisenmann
Broker-Owner,CRS,CDPE,GRI,SRES, Brea,CA, Orange Co
Preferred Home Brokers

Hi Gena,

Oh great, CHANGING the contract "ABOVE"  the buyer's sig!  Like that's o.k.? NOT for one minute, and just try to explain that to the Judge once you're in court

I teach newbie REALTORS in my assoc. and I explain that it's important to be sure any "judge" can read and understand the intent. If the consumer doesn't completely understand how do you think a judge will look at the same situation?

January 28, 2009 11:40 PM
Rainer
54,190
Barbara Delaney
Park Place REALTORS, Inc.

Dear Gena,

Practices are different in different areas. We do counters with initialed changes all the time. I am in Roanoke Virginia. When a contract gets too messy. I will re-write it with clarifications to supersede the previous contract.

We also do a lot of contracts in counterparts. The buyer signs one set. The seller the another. If the documents are identical, we put them together to spell contract. Counterpart phraseology is part of our standard contract.

Appreciate your comments on my "gloom and Doom" post.

Thanks,

Barbara

January 29, 2009 12:32 AM
Rainmaker
476,374
Barb Szabo, CRS
E-pro Realtor, Cleveland Ohio Homes
RE/MAX Trinity Brecksville Ohio

Gena, We do business more like Barbara above. If I present a written offer and not all the terms are acceptable to the seller (how often does that happen?) LOL then the seller's agent will make the changes (on my original purchase offer) and then we can either accept or reject. If accepted the buyer initials all the changes made by the seller.

January 29, 2009 07:26 AM
Ambassador
1,028,438
Celeste "SALLY" Cheeseman
RA, CRS, Hawaii Mililani Oahu Real Estate
Century 21 Liberty Homes

I agree with you totally about those statements...it IS the ones who do not have great knowledge...are the ones making those claims.

January 29, 2009 12:17 PM
Rainmaker
246,143
Gena Riede
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Riede Real Estate, Lic. 01310792

Lynda, absolutely.  It's hard for me to wrap my arms around other States crossing off and changing the buyers Purchase Contract. Maybe this REO agent in Sacramento CA was from a State that does that sort of thing. All I know is WE don't do that, here.

Keep on teaching the new people here the right way!

January 29, 2009 11:29 PM
Rainmaker
246,143
Gena Riede
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Riede Real Estate, Lic. 01310792

Barbara, WOW, I had no idea your State does that. I would think that would possibly bring about quite a few errors. Obviously, those agents who are very prudent in their effort to proof read would do fine but my guess is that not everyone is like that.

If I'm not mistaken, don't you also have attorney's representing each party out there as well? If so, perhaps that is part of their job to make sure that no one has missed some of these counterparts.

This just seems like an accident waiting to happen but then again, I'm just not use to it so if it works for all of you, that's great.

FYI, no problem. I enjoyed reading your post.

January 29, 2009 11:35 PM
Rainmaker
246,143
Gena Riede
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Riede Real Estate, Lic. 01310792

Barb, sounds like a mess! Do you have counters? And can you explain why you don't use them?  I'm really trying to wrap my arms around this.

By the way, how many pages is your Purchase Contract?

January 29, 2009 11:37 PM
Rainmaker
246,143
Gena Riede
Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
Riede Real Estate, Lic. 01310792

Sally, it really gets me when I see agents make those rash statements and they seem to have absolutely no idea that not everyone and every deal is the same.  I get a real kick out of reading those statements.

Thank heavens we don't have a bunch of them here on Active Rain. I've only seen a case of it here and there.

January 29, 2009 11:40 PM
Show All Comments
Rainmaker
246,143

Gena Riede

Real Estate Broker - Sacramento CA Real Estate (916) 417-2699
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