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Trouble with seller/broker/realtor

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Blinded

Guest
What is the name of your state? Wisconsin

I am having trouble with the seller of a property that I was suppose to close on by 1/2/04. I tried posting all of the "issues" here in the forum, but my message was too long. I'll shorten it up and start with the fact that the seller has not completed the contingencies (outside painting & renovate landscaping to name a couple). Because of the weather they can no longer complete them and mentioned something about an escrow account to finish the items up next year. How does that work? Also, they can't seem to show us a back lot line. They have shown us two, none of which agree with the lot depth submitted to the city on their plat for the new subdivision adjacent to this property.

I'll start with these and hopefully be able to bring in some of the other issues in additional postings.

Thanks so much for your help!

SS
 


HomeGuru

Senior Member
Blinded said:
What is the name of your state? Wisconsin

I am having trouble with the seller of a property that I was suppose to close on by 1/2/04. I tried posting all of the "issues" here in the forum, but my message was too long. I'll shorten it up and start with the fact that the seller has not completed the contingencies (outside painting & renovate landscaping to name a couple). Because of the weather they can no longer complete them and mentioned something about an escrow account to finish the items up next year. How does that work? Also, they can't seem to show us a back lot line. They have shown us two, none of which agree with the lot depth submitted to the city on their plat for the new subdivision adjacent to this property.

I'll start with these and hopefully be able to bring in some of the other issues in additional postings.

Thanks so much for your help!

SS
**A: where is your Realtor? You should have ordered a survey map. Escrow account- monies to complete repairs etc, in the amount of 150% of the estimated cost should be set aside in escrow and used to pay for the painting etc. even after closing.
 
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B

Blinded

Guest
The realtor is in a partnership with the developer....she handles the property sales and he the development. They told us we couldn't get a survey (at our own expense) until after the city approved the plat.

They also haven't had the well tests done, that in the contingency stated they were suppose to be done by 11/27. We've gotten two excuses: #1, she's been too upset since her mother passed away in October, and #2, they can't have them done until they have title to the property (they purchased it in late summer). Does the title part sound right? I told her she isn't doing her job and she took great offense and got irritated at me.

Thanks again for anyones input.

SS
 
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Blinded

Guest
Hello Again! I guess I don't quite understand your question? My realtor is here in Wisconsin. Did you mean what realty do they work for? If so, they are a private entity working for themselves. I have found information online regarding her being licensed in Wisconsin and no prior complaints. I originally checked into her "licenseship" because I found it odd that her business card did not indicate any business address and no business phone. She uses a cell phone only. I hope this answers your question!

Thanks again!
 

HomeGuru

Senior Member
So let's get this straight. You have a Realtor and the Seller/Developer has a Realtor correct? There were 2 separate Realtors in the transaction.
 
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JETX

Senior Member
Blinded..... YOU should have either your own realtor or your own attorney to protect YOUR interests in this. Do NOT rely on the statements by the seller of THEIR realtor..... at least unless they are in writing!!
 
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Blinded

Guest
Ummnn...no, we don't have our own realtor. We're going through the realtor that listed this property, just as any other property we have purchased in the past. This was not an MLS property, so no realtor of our own to participate in the transaction.....

So, do we hire an attorney & have him/her present at the closing, or do we have that (3) day rule to cancel a sale, and give the paperwork to an attorney to review within the (3) day timeframe? We already have the $$ because we took a mortgage out on the property we currently live in (we will not be living at this new property, a relative will be occupying the house/property).

Thanks much!
 

JETX

Senior Member
Clearly, if you are having these problems BEFORE you close, what other problems might you have???
And with the seller so obviously reluctant to comply with what would normally be fairly simple issues, your not having YOUR attorney to protect you would not be wise.
Spend the few hundred dollars to get yourself protected.... now, before you close.
 
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advicesucks

Guest
#1 you dont have your own realtor
#2 you didnt have an atty assist you with this transaction...

its not surprising you are having the problems you are having.


Hiring an atty for the closing is useless, they should have been handling the whole transaction! Just becuase your prior deals may have worked well, is no indication you can safely do this on your own.
 

jimmler

Member
First of all, if the adjacent plat is not approved and recorded yet, the back lot line does not even exist yet.

Second of all, after the subdivision is recorded only a licensed surveyor in WI can mark the property line. What the realtor shows you means nothing.

There is no way I would settle until the lots are recorded, they don't exist until the plat is approved and recorded.

Hire a real estate attorney NOW to review all documents, this sounds really fishy to me.

Disclaimer:
I am not a lawyer, I have worked in land surveying for 13 years.
 

JETX

Senior Member
"Hiring an atty for the closing is useless, they should have been handling the whole transaction!"
*** Only partly true. Granted, you should have had an attorney involved to protect YOUR interests long ago, hiring one now to review your obligations and advise you would not be 'useless'. In fact, it could protect you from LOTS of potential long-term (and expensive) issues in the future.
Get one involved NOW!!
 
B

Blinded

Guest
Whew! We didn't think an attorney was necessary to put in an offer to purchase. You go to any open house and if you want to put in an offer you write one up without an attorney present!

We don't plan on closing until after the property/plat/subdivision is recorded...sometime after mid January. The seller/developer is ticked at us because we noticed the setbacks on "our" property weren't correct, so it had to go back to the city for revision and be resubmitted, thus pushing off the sale of their lots at least a month.

So if we hire an attorney, what do we have him/her do at this point? Part of our plan is that we DO NOT want to set up an escrow for contingent items the seller did not complete. We'd rather just have them reduce the selling price to cover those future costs so we don't have to have ANY contact with these people once the sale is final.

Its a shame ya just can't trust people for the most simplest of items...

Thanks again, and again, and again!

SS
 

JETX

Senior Member
"We don't plan on closing until after the property/plat/subdivision is recorded...sometime after mid January."
*** Okay, lets 'play' this without your having the benefit of an attorney. Since your contract date of closing ("I was suppose to close on by 1/2/04"), contradicts your above statement, what are you going to do if the seller claims you are in breach of your contract when you don't close ON OR BEFORE 1/2/04?? Have you gotten a written extension??

"We'd rather just have them reduce the selling price to cover those future costs"
*** And what if the seller is not agreeable to your 'wishes'??
 

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