Jump to content

Menu

For the Real Estate Agents and Other interested parties: Common in your area?


TranquilMind
 Share

Recommended Posts

Please do not quote. 

 

We have  a house under contract to a Buyer.  Buyer keeps requesting access over and over, after the official Inspection is done, and house has been accepted, removing Inspection contingency.   We have yet to receive loan approval, despite the short time to closing.

 

We allowed a couple of past requests, not realizing it was the Buyer's Agent, but expecting that it was others looking at the house, considering a back up offer in case this one fell through. That was fine.   Our showing service through the local MLS does not inform Sellers who is coming in, but merely that an appointment has been scheduled and requests permission to enter for a "showing"  (or Inspection, or Appraisal, whichever applies). 

I was driving by in my car after last appointment through the Showing service was supposed to have ended.  I have learned to go over after every appointment because people feel free to move things around, use restrooms, or change things, and I've even had a little damage in a couple of different transactions.  There were 5 or 6 vehicles outside the house, including a work van.  Hardly a "showing".   I contacted my Agent and sure enough, it is the same Agent representing the Buyer,, as well as Buyers and unknown others.   A small item that had been previously broken during a showing (to which no one fessed up, despite inquiries) had been repaired.   I guess I am not complaining that whoever was in there fixed something, instead of breaking something, but the point is that we own the house, and others should not be working on it outside our authorization. 

 

Now same agent is again requesting access with Buyers to "sketch a floor plan for the designer".  We are fine with that, so long as the Buyer is indeed closing in a few days, as scheduled.  Meanwhile, no loan approval has come through yet.  Obviously, I don't want unknown persons or contractors in my house without my approval.   I'd prefer the Buyer gain access after he owns the house - in a few short days, assuming he has the means to close, though I have yet to receive verification.

The Agent is very difficult and refuses to deal with me, and is snide and obnoxious with my Agent (who just laughs).    My Agent totally supports my concerns, and told me a horror story about some Agent in a nearby expensive town who was giving the code to anybody and everybody to come and go in a million dollar home.  The homeowner entered and found multiple unknown contractors working in her home.  My Agent says we are right to decline further access, especially since we haven't even received loan approval yet so close to the closing. 

 

Just curious how it works in other jurisdictions.  Do you allow Buyers continual access outside of the presence of the Owner?  That seems to open up a huge liability to me, should anything become damaged. 

Link to comment
Share on other sites

We did it as a buyer, but only for outside access. And that was because we needed to put a fence in within days of buying the house. HOWEVER, inside access was not needed AND we had put a line in the offer that it would be necessary to come out there with 2-3 contractors so they could measure and give us bids for the fencing.

Link to comment
Share on other sites

We did it as a buyer, but only for outside access. And that was because we needed to put a fence in within days of buying the house. HOWEVER, inside access was not needed AND we had put a line in the offer that it would be necessary to come out there with 2-3 contractors so they could measure and give us bids for the fencing.

Outside would be fine, assuming permission requested and individuals clearly indicated (not just unknown or multiple contractors).  But they are inside, and using things in the home, and perhaps tools too. Who knows?  Not cool, and permission was never requested. 

Link to comment
Share on other sites

Doing repairs on your home without permission, secretly, is such a boundary violation that I would be tempted to shut the door on any further access, ever.

 

The only way I would allow this is under the following stipulations:

 

--Some assurance of loan approval and closing date in writing

 

--SUPERVISED by you or your agent. Period. End of discussion. They cannot be trusted.

 

Frankly, though, I would likely just say no.

Link to comment
Share on other sites

NOT common in our area.  The only times it does happen is when:

1. House needs extensive work, is being sold "as is", and serious potential buyer (pre-approved for a loan, intending to buy in the next couple of months, sometimes has even put down earnest money) is getting bids from contractors.  No one here is going to buy a home with serious foundation issues without knowing how many $10,000 piers need to be put in, how much mudjacking, etc.

2. House is close to closing. The stars are in alignment--buyer has been pre-approved, closing date has been set, no bad blood has happened between the parties, and a specific special need has arisen, with specific window of date/time specified, and every party is comfortable. Examples: house needs to have radon abatement system put in, buyer is paying for it, and the system is needed for the loan to close.

Link to comment
Share on other sites

Definitely decline further access. It's not the norm around here and I can't imagine doing this without the loan approval. The liability alone would cause me to refuse.

Exactly.  It is the liability issue that concerns me.  I do not know who is in there or why.  That's not ok.  I think we are going to change the code. 

Link to comment
Share on other sites

We asked for access to get quotes on work we needed done immediately after closing (refinishing hardwoods, painting, etc.), but our agent accompanied the contractors and we told them why. We also tried to schedule it at the seller's convenience because the family still lived at the home. It wasn't a whole parade of people--just the contractor, our agent, and DH. Our loan approval dragged on as well even though we had a preapproval for more than the house cost.

Link to comment
Share on other sites

I'm sure it's not common. We let our buyers store some furniture and personal items in our home prior to closing because they had to move out of their apartment prior to close. But this was up front request by them and approval by us. I cleared it with our insurance agent before I agreed.

 

Does your agent know who is handling the loan paperwork? Is this type of delay typical with that company/in that area?

 

Changing the pass code, and allowing access only with supervision by your agent, sounds reasonable to me. On the plus side, they must be pretty sure the loan is going through, given they had work done (so very strange, though).

 

 

Link to comment
Share on other sites

We got repeated access to our home, but it wasn't occupied. It was a full flip, so it felt like "ours" from the moment our offer was accepted.

 

But I can't even imagine being as brazen with people still living in the house!

With permission, that's fine,but the liability for any damage is still on the Seller until the deed transfers to you.  That's why I wouldn't allow access.

 

That said, a Seller once just handed me the keys to get some repairs done, and I was flabbergasted.    I am an honest person and did not abuse that privilege, but I thought it was very lazy of that agent, and certainly did not represent her Seller's best interest.  Fortunately, all went well, but it could as easily have tanked after I discovered further small things to deal with in the house.  In my day of being a buyer, we didn't expect absolute perfection though, like today. 

Link to comment
Share on other sites

Definitely NOT the norm around here. Tell them they can see the house again at the walk-through on closing day.

 

I'd just say no. When I sold the condo in WA we had not had the trust-breaking issue you had, but within a week of closing the gal wanted in to measure cabinets and start getting ready for ownership. The place was a WRECK because we were packing busily. I just told the agent I could not accomodate and that was the end of it. But I fretted over it, fearful it would ruin the deal, for the whole rest of the week until the documents were signed!

Link to comment
Share on other sites

Not common, and I agree it is a bad idea. The designer is welcome to come over after closing.

 

As far as loan commitment, how long ago did the application go in? The market is very busy here this month, companies are operating with fewer underwriters, and commitments are being sent late. That said, the delay should be questioned and would make me even more certain they should not be back in the house. Is there an issue with income, assets or credit they could be working to resolve to obtain the commitment? The initial commitment is done upon first approval. Final verification that there have been no major changes to their financial status occurs later, 24-48 hours before settlement, to get the loan clear to close.

 

How close to closing are you? Have they missed the commitment date illustrated in the contract? That would be reason enough to tell the realtor to keep them out.

Link to comment
Share on other sites

I returned to the house once with a contractor to look before closing. That was to show contractor what I wanted him to do starting the day after closing. He needed to look to do his estimate. We walked through, looked, and left. We were in the house 20 minutes. The seller was present, but did not follow us. I thought it was very courteous for her to allow this. I wanted work done before we moved in because it would be easier and cheaper, but I was on a timeline to get out of my current house which was also under contract.

Link to comment
Share on other sites

That sounds odd to me.  I wouldn't allow anything further without loan approval. 

 

Our house has been on the market for 2 weeks.  We have had three people just knock on our door and ask to see the house, one person at 8:15 in the morning.  I am in awe over this.

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...