Unfortunately, the inspection failed due to some repairs and improvements the home needed that was required by the VA but the seller refused to pay for and/or make the repairs. The buyer subsequently agreed to make the repairs at their cost. An agreement was drafted and all parties agreed to allow the buyer to proceeded with making the repairs before closing. The buyer was given a key to gain access to the home while the repairs were being completed. Days and then weeks went by with little of repairs completed. Upon inspection it was discovered the buyer had allowed the person they hired to do the repairs to move into the home while the repairs were being completed. The buyer was contacted and told this was not part of the agreement but the repairman refused to leave until the repairs were completed. To make a long story short, the repairman took 3 months to complete about a weeks' worth of repairs. He was not motivated to work diligently and was living in a home rent-free. The repairs were finally completed and the transaction was closed having learned a good lesson. That being, never give access to a buyer prior to closing.
Fraudulent Buyers
A real estate agent was working for sellers whose house had sat unsold for several months. They were thrilled to get a cash offer for the $400,000 house from a couple. The buyers offered a proof- of-funds letter from a brokerage firm. The buyers’ extended family turned out for the home inspection. It was like a holiday open house. 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 that their extended family verbally abused her,
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