A little while ago, some clients of mine made an offer on an REO. Everything seemed to be proceeding according to plan.
So, after a week went by I wasn’t too concerned. After almost two weeks went by, I became alarmed. I called and emailed the listing agent two or three times a day for three days without receiving a response. I finally had to call his broker and demand that someone who was competent be put in charge of the deal. I was given an assistant who seemed to have some idea of how things worked.
Finally after a long and drawn out two weeks, I received a notice giving me an extension due to the bank opening the escrow with the wrong company. How is it even possible to not be aware of what company you are dealing with? Thank goodness I decided to give the broker a call, otherwise the selling agent would have just coasted along and not have been able to put a stop to the madness.
I’ve also been fortunate enough to experience dealings that were completely opposite from this situation. I had sold a property not to long ago for an agent listed in Lake Arrowhead. It wasn’t a surprise when it took awhile for the bank to finally open the escrow, but the rest of the closing process was very successful. This agent was very good at keeping me updated, as well was her assistant. I was then able to complete all of my paperwork correctly and in a timely fashion.
Because of this, I was able to deliver excellent customer service to my client. Please be aware when you are hiring an agent, and make sure you are asking plenty of questions to make sure they are on the up and up. It is important to make sure that your Realtor is a fulltime agent and can devote all his time to you. Always make sure they are knowledgeable about how the of your local housing market.
If you do plan on buying a property in the Big Bear area, I would not suggest hiring an agent from L.A or Orange County. If your intentions are to purchase a bank owned property, it is very beneficial to hire an agent that is familiar in that field. It is a sad fact how differently banks can operate, and if you don’t have an agent that is proficient in the bank owned property, they could cost you lots of money, and even possibly the property.
Author A.Combs has much experience researching single-family homes for sale plus realty overall. Check out her other articles on the internet.
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