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  • July 18, 2007 at 2:47 PM #9537
    SD Realtor
    Participant

    My client is currently in escrow and are due to close in two days. The buyer is represented by Prudential and they came in with an all cash deal for purchase. We verified funds within the time period specified on the RPA. Escrow has called me to tell me that when they called to get the wire from the buyer for funds, that the buyer informed them that the funds will come from a 1031 transaction and that escrow will need to contact the accomodator. Of course not only was none of this specified in the contract, there was never any mention of it from the Prudential agent. To top it all off the accomodator does not even have the funds yet from the sale of the 1031 property! Good old Prudential…

    July 18, 2007 at 4:56 PM #66351
    Critter
    Participant

    Sounds like a name change is in order – Imprudential, or perhaps Rudential.

    July 18, 2007 at 4:56 PM #66416
    Critter
    Participant

    Sounds like a name change is in order – Imprudential, or perhaps Rudential.

    July 18, 2007 at 5:03 PM #66418
    waiting hawk
    Participant

    That’s why you only want to do foreclosures. You only deal with those investors that invite you over for blow (cocaine for u non street smart people), cash on the table wrapped with a rubberband, and firearms for that fantastic deal signing event.

    Damn I need help.

    July 18, 2007 at 5:03 PM #66353
    waiting hawk
    Participant

    That’s why you only want to do foreclosures. You only deal with those investors that invite you over for blow (cocaine for u non street smart people), cash on the table wrapped with a rubberband, and firearms for that fantastic deal signing event.

    Damn I need help.

    July 18, 2007 at 5:08 PM #66357
    SD Realtor
    Participant

    I reached the agent… She gave me the biggest steamer I have smelled in awhile…about how they told us it was a 1031… but of course didn’t write it in the contract…blah blah blah… then she told me her TC forgot to send an ammendment to escrow…Then she played the apologetic card…how her clients really love the place… yeah okay… Anyways her clients escrow will close the same day and the money can go straight from escrow to escrow and not even have to hit the accomodator. Her broker called me an apologized as well…

    Next time I will send them to waiting hawk. I like his deals better.

    SD Realtor

    July 18, 2007 at 5:08 PM #66422
    SD Realtor
    Participant

    I reached the agent… She gave me the biggest steamer I have smelled in awhile…about how they told us it was a 1031… but of course didn’t write it in the contract…blah blah blah… then she told me her TC forgot to send an ammendment to escrow…Then she played the apologetic card…how her clients really love the place… yeah okay… Anyways her clients escrow will close the same day and the money can go straight from escrow to escrow and not even have to hit the accomodator. Her broker called me an apologized as well…

    Next time I will send them to waiting hawk. I like his deals better.

    SD Realtor

    July 18, 2007 at 5:15 PM #66359
    waiting hawk
    Participant

    Hope you close that thing. People will buy all through this “cycle” and I wish all the RE people on this board the best of success and to wait out the tons of RE people leaving every day.

    July 18, 2007 at 5:15 PM #66424
    waiting hawk
    Participant

    Hope you close that thing. People will buy all through this “cycle” and I wish all the RE people on this board the best of success and to wait out the tons of RE people leaving every day.

    July 18, 2007 at 5:29 PM #66365
    JJGittes
    Participant

    Lovely. Hope your client doesn’t have a purchase deal that depends on the sale happening on time. Also, how about movers, and utilities, and mail and and and…? Funny how the dominos need to be lined up.

    Lord, if nothing else, let this downturn cull the realtor herd, please.

    July 18, 2007 at 5:29 PM #66430
    JJGittes
    Participant

    Lovely. Hope your client doesn’t have a purchase deal that depends on the sale happening on time. Also, how about movers, and utilities, and mail and and and…? Funny how the dominos need to be lined up.

    Lord, if nothing else, let this downturn cull the realtor herd, please.

    July 18, 2007 at 5:41 PM #66369
    (former)FormerSanDiegan
    Participant

    whether it’s an undisclosed 1031, a set back in loan underwriting, a lender request for second appraisal, or whatever, isn’t there always something late in the game that throws a monkey wrench into the works ?

    July 18, 2007 at 5:41 PM #66434
    (former)FormerSanDiegan
    Participant

    whether it’s an undisclosed 1031, a set back in loan underwriting, a lender request for second appraisal, or whatever, isn’t there always something late in the game that throws a monkey wrench into the works ?

    July 18, 2007 at 5:51 PM #66373
    NotCranky
    Participant

    “whether it’s an undisclosed 1031, a set back in loan underwriting, a lender request for second appraisal, or whatever, isn’t there always something late in the game that throws a monkey wrench into the works ?”

    Yeah one of those things…or…Buyer’s remorse.

    July 18, 2007 at 5:51 PM #66438
    NotCranky
    Participant

    “whether it’s an undisclosed 1031, a set back in loan underwriting, a lender request for second appraisal, or whatever, isn’t there always something late in the game that throws a monkey wrench into the works ?”

    Yeah one of those things…or…Buyer’s remorse.

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