I think it's over

[DrPizza]

Called the broker today.

He's out for the day taking care of personal matters
Talked to the president of the brokerage...

"I don't know how the other bank (that owns the property) got the idea we'd be closing today" (I do... my broker told them)
"We're just waiting for the underwriter to sign it"
I called the branch, asked for the underwriter "you're going to have to talk to your broker about this one"
"If it's not done by the end of today, we're just going to close the books on this one"

So, he knows, but is waiting til the end of the day?
Suddenly the broker we've been dealing with daily for weeks is "gone on personal matters"?

From what I can tell, our broker was fired today.
And, as a result of his incompetence, we lost out on the chance to by our dream.

 

[PanzerIV]

That royally sucks, DrP.

 

[Platypus]

life sucks dude, didn't you get the memo?

 

[Kyteland]

 

[bradruth]

Any way to start the process over?

 

[DrPizza]

To say that I'm more pissed than ever in my life is an understatement.

Next step for us:
Contact NYS Department of Banking and Finance
Contact BBB

See what can be done to resolve this

Also, I have a lawyer in mind if it's an actionable situation.

 

[ggavinmoss]

Man, I've read your other thread about this -- it really sucks. But take some small solace in the fact that the guy who screwed you won't screw anyone else.

-geoff

 

[DrPizza]

Originally posted by: bradruth
Any way to start the process over?

Apparently the bank that's selling the property is pissed at us because our broker has been lying to them. They're going to officially say "deal's over" any moment now.

Also, there's another purchase offer out there on the property.

 

[VictorLazlo]

Yea, they probably had a backup contract.

Don't worry, you'll find something better.

 

[bradruth]

Originally posted by: DrPizza

Originally posted by: bradruth
Any way to start the process over?

Apparently the bank that's selling the property is pissed at us because our broker has been lying to them. They're going to officially say "deal's over" any moment now.

Also, there's another purchase offer out there on the property.

Sorry to hear that.

 

[300MDemon]

Sorry to hear that man

 

[maziwanka]

Originally posted by: DrPizza
To say that I'm more pissed than ever in my life is an understatement.

Next step for us:
Contact NYS Department of Banking and Finance
Contact BBB

See what can be done to resolve this

Also, I have a lawyer in mind if it's an actionable situation.

i would definately contact a lawyer about this and think about taking legal action towards the brokerage house.

i firmly believe that something better will come of this. i never use emoticons, but here's a :beer: for you. im sure things will improve.

 

[Ogg]

sorry bro

Im :| too

 

[DrPizza]

Originally posted by: VictorLazlo
Yea, they probably had a backup contract.

Don't worry, you'll find something better.

Are you suggesting I'll find 111 acres - the closest house to me is 1/4 of a mile away.
A huge old barn (in good shape)
4 bedroom house, 2 full baths
living room/dining room/newly remodeled kitchen
very large addition on back as a family room 20x24 (IIRC) with vaulted ceilings, all tongue and groove
garage large enough that I can probably fit almost anyone else's garage in the forum into
40 of the acres are wooded

... I can go on and on...
For 90K.

My wife and I have always dreamed of fixing up an old farm. Now, we're screwed.

 

[rahvin]

Originally posted by: DrPizza

Originally posted by: VictorLazlo
Yea, they probably had a backup contract.

Don't worry, you'll find something better.

Are you suggesting I'll find 111 acres - the closest house to me is 1/4 of a mile away.
A huge old barn (in good shape)
4 bedroom house, 2 full baths
living room/dining room/newly remodeled kitchen
very large addition on back as a family room 20x24 (IIRC) with vaulted ceilings, all tongue and groove
garage large enough that I can probably fit almost anyone else's garage in the forum into
40 of the acres are wooded

... I can go on and on...
For 90K.

My wife and I have always dreamed of fixing up an old farm. Now, we're screwed.

Have you tried talking to the forclosure dept. at the bank you are buying from and possibly increasing your offer to get them to hold off rejecting you? It really is your only choice if you want to hold out hope, you need to talk to the people in charge of the property and explain what has happened, hell get the loan through them if it will help your chances.

 

[slag]

Originally posted by: DrPizza

Originally posted by: VictorLazlo
Yea, they probably had a backup contract.

Don't worry, you'll find something better.

Are you suggesting I'll find 111 acres - the closest house to me is 1/4 of a mile away.
A huge old barn (in good shape)
4 bedroom house, 2 full baths
living room/dining room/newly remodeled kitchen
very large addition on back as a family room 20x24 (IIRC) with vaulted ceilings, all tongue and groove
garage large enough that I can probably fit almost anyone else's garage in the forum into
40 of the acres are wooded

... I can go on and on...
For 90K.

My wife and I have always dreamed of fixing up an old farm. Now, we're screwed.

Well, you found it once, what makes you think you wont find it again?

 

[ericb]

True...have you talked to the other bank and the other seller. Explain to them that your broker screwed up and not you and express how much you truly want this property. And do it before they call the deal off and offer it elsewhere. Offer to use a broker of their choice, raise the price, whatever it takes if you truly want this.

 

[BooGiMaN]

what seems weird is that you describe the property as a dream opportunity yet you have also stated it sat around for a long time with no offers...


you got to wonder why no one else ever bid on it

 

[DrPizza]

Originally posted by: slag

Originally posted by: DrPizza

Originally posted by: VictorLazlo
Yea, they probably had a backup contract.

Don't worry, you'll find something better.

Are you suggesting I'll find 111 acres - the closest house to me is 1/4 of a mile away.
A huge old barn (in good shape)
4 bedroom house, 2 full baths
living room/dining room/newly remodeled kitchen
very large addition on back as a family room 20x24 (IIRC) with vaulted ceilings, all tongue and groove
garage large enough that I can probably fit almost anyone else's garage in the forum into
40 of the acres are wooded

... I can go on and on...
For 90K.

My wife and I have always dreamed of fixing up an old farm. Now, we're screwed.

Well, you found it once, what makes you think you wont find it again?

because it took 15 years to find it.

 

[OutHouse]

Originally posted by: DrPizza

Originally posted by: VictorLazlo
Yea, they probably had a backup contract.

Don't worry, you'll find something better.

Are you suggesting I'll find 111 acres - the closest house to me is 1/4 of a mile away.
A huge old barn (in good shape)
4 bedroom house, 2 full baths
living room/dining room/newly remodeled kitchen
very large addition on back as a family room 20x24 (IIRC) with vaulted ceilings, all tongue and groove
garage large enough that I can probably fit almost anyone else's garage in the forum into
40 of the acres are wooded

... I can go on and on...
For 90K.

My wife and I have always dreamed of fixing up an old farm. Now, we're screwed.

holy crap only 90K for all that? what would your property taxes be?

 

[DrPizza]

around 3k per year.

 

[JetsFanatic]

Originally posted by: DrPizza
Are you suggesting I'll find 111 acres - the closest house to me is 1/4 of a mile away.
A huge old barn (in good shape)
4 bedroom house, 2 full baths
living room/dining room/newly remodeled kitchen
very large addition on back as a family room 20x24 (IIRC) with vaulted ceilings, all tongue and groove
garage large enough that I can probably fit almost anyone else's garage in the forum into
40 of the acres are wooded

... I can go on and on...
For 90K.

My wife and I have always dreamed of fixing up an old farm. Now, we're screwed.

:camera:
PICS?

 

[Goosemaster]

I say you make good use of communication. It seems that you are set on having the place, so make sure all the important parties know what happened. Perhaps the bank might view you as just another schlep because of the brokers presentation, but that could be remidied if you personally plead your case.

If this is truely your dream, you will not stop until the bitter or gracious end.

 

[Stark]

doesn't your broker have a boss? raise cain until someone from his office contacts the seller's bank!

 

[psiu]

Originally posted by: DrPizza

Originally posted by: bradruth
Any way to start the process over?

Apparently the bank that's selling the property is pissed at us because our broker has been lying to them. They're going to officially say "deal's over" any moment now.

Also, there's another purchase offer out there on the property.

Any chance of:

you personally contacting the other bank to express your apology for your broker being an ass, and the fact your are also pissed at him?

or

shouldn't the president of the brokerage you talked to be taking care of this stuff this instant for you?

Raise hell. Good luck, hope it works out.

If you don't get it, make sure that brokerage gets what is coming to them.