Later, the brokerage informed the agent that the proof-of-funds letter had a forged signature. The would-be buyers vanished, but the agent reported their extended family verbally abused her, the sellers, and the buyers’ agent. The agent now makes sure she verifies every proof of funds and
pre-qualification letter. Homes Not Researched
In a transaction without the involvement of real estate agents, a woman purchased a rural home. She found out two years later, at the time she went to list the home, that it had once belonged to a person who was in jail for producing methamphetamine onsite! The revelation also obligated the homeowner to take the necessary steps of decontaminating the home and ensuring it was fit for resale, costing her a whopping $16,000 in the process. Pressure to Sell from Your Own Agent A single mom needed to sell a home near Forest Hills where she had raised her family. She had delayed the decision that she realized she should have made much earlier and expenses were mounting. On impulse and without researching, she called an agent who had signs around town and a reputation for selling quickly. The mom realized too late that she sold her home for well under the market and sadly impacted her standard of living for her older years. “In hindsight, I felt that I’d been negotiating against three people—the buyer, his agent, and my own agent,” said the seller. This is no way for a seller to feel. Pre Closing Error: Large Bank Deposit Causing Delay A couple buying a seller’s home in an affluent neighborhood in Columbia County deposited $9,300 in cash into their checking
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