selling their homes. In fact, he believed it was his duty to do just that — as it should be. So, when a buyer’s agent called him to let him know that he had a buyer interested in Trumm’s listing, but were willing to pay the full asking price, despite the buyers’ offer for $6,000 less, Trumm was taken aback, shocked. “Of course, the reason this agent told me this was because he wanted to make sure that the offer got accepted, so that he would get paid. He knew he was backstabbing his clients by putting his own interests above theirs,” Trumm is reported to have said. Thank goodness that his listing received a higher offer from buyers who could afford it, before the backstabbing agent’s deal could move to closing. “The agent had gained nothing from his evil ways,” Trumm added.
Key Takeaway:
Do your research before hiring a buyer’s agent to avoid being the victim of backstabbing. Reread Chapter 2 to learn how to do this.
THE CASE OF THE DISAPPEARING LENDER
Alex was excited to make her first home purchase in 2016. However, as she lived in the Washington, D.C., area, her pricing options were limited, with homes on the lower end still costing $250,000. She did some shopping around to find out the amount that banks and other lenders would lend her, as well as their variable interest rates, and got preapproved for several. When she found her dream condo, she wanted to be able to afford it, so she went with the lowest rate (4%) a bank offered her. They were also friendly, communicative, and seemingly professional, so she felt at ease.
But suddenly her lending institution seemed to disappear — like
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