Saturday, October 31, 2009

Can you have recourse on a Real Estate Broker?

In December we got a pre-approval letter. That say we needed an appraisal of the property, hazard insurance letter, clear title checked.



Then we got a contract for X amount of the loan and that we were to close on January 30, 2007, then it was February 8, 2007, then it was move to the 28.



At this time we had to have gas lines tested, land service, plus Ernest money, and time off from jobs.



Then March 8, we found out that we had a problem with some credit, and he said he could take care of it for us.



Now we have not heard from him. We looked in to what he was suppose to working on and he had not done anything. We have gotten it fix.



Can we do anything to him and can we go to another broker ?



Can you have recourse on a Real Estate Broker?

Huh? If you were pre-approved for a loan, fine. However, if YOU are buying (or were buying) a property, then YOU are not the one who needs the appraisal. What do you mean you have %26quot;gotten it fix?%26quot; What fixed? Ar eyou BUYING or SELLING a property? Your question is UNCLEAR! An appraisal is something the SELLER has to deal with NOT the BUYER! Yes, you do need a letter or some proof that you have taken out homeowner%26#039;s insurance on the property YOU wish to purchase, but that only comes after the loan has gone through and you are close to closing. This would be necessary to have at the actual closing of the home. And YOU don%26#039;t check the title, that is up to the Title Insurance Company. Earnest money is put down when you put in a bid on a home. I think you need to clarify whether you are BUYING or SELLING. Your statements are confusing, and I think you are a bit confused.

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