Re: What’s The Deal With Bank Owned Real Estate? - Posted by Jim IL
Posted by Jim IL on February 03, 2000 at 13:34:21:
I had a bank pull that trash on me, or should I say, the RE agent that was working for the lender.
We put in an offer and it was accepted. The agent called and told me, and asked for my “Earnest money check”, since the agreement stated that within THREE days of acceptance it was due.
So, I meet the RE agent at her office, get a copy of the agreement, and give her my check.
I get home and look at the contract, and it looks alright, there is a signature on the seller line saying, “So and so, agent for lender”.
Fine, seen that before, no big deal right?
Got a call the NEXT DAY, agent saying "come pick up your check, you were outbid, the seller took another offer this morning."
Well, to make a long story short, I blew a gasket, went and got my check, talked to the broker at the office about his agent, and tried to call the lender direct.
I did not get the home, because I gave up, but I did complain about this agent, and the broker to the state, and the agent was FIRED!
(not totally sure if it was from my complaint or a combination of things. She was an indiot.)
So, the deal was accepted, “in writing”, but that did not matter.
The lender was “AmeriQuest” by the way.
And, we were told that since the agent had signed the contract for the bank, then the contract was not official. Which was done the same way on the last two I did like this. Anyway…
So, it did happen to me, once,