The broker does not take a clear stance on financing. How to behave?

  • Erstellt am 2020-10-24 10:06:02

Nina343434

2020-10-24 10:06:02
  • #1
Hello everyone,

I hope someone has advice, we are really despairing...
My boyfriend and I can only live in a specific area due to family reasons, but unfortunately house prices are very high there at the moment. (decent houses cost from €500,000, if you can even find one)
We have been looking for houses there on the side for several years.
He himself is employed full-time as his main job and works part-time as an electrical master/carpenter and is very skilled in handiwork. (he has already almost completely renovated several houses)
Recently, a house was offered through an agent that exactly matched our wishes and is right next to our little son's elementary school.
Location + size was perfect and we fell in love immediately. The purchase price was €140,000 -> the house basically needs to be fully renovated.
At first, there were almost 40 applicants, but since the agent was unsure about the renovation status and noticed during the phone call that my boyfriend knows his stuff, we were able to view it first. We immediately said we would take it, but the agent said he first had to see how to handle it, as there were so many interested parties.
We then “pestered” regularly and therefore also got the land register extract first. And we submitted the financing very promptly.
At the second viewing appointment, we cautiously asked, and the agent said something along the lines of: “the community of heirs wants to get rid of it, whoever gets the financing first should get it”…
On Wednesday afternoon we received the confirmation from the bank, called the agent, and he said:
“You are the first, send me the confirmation and I will forward it to the owner for a decision and we’ll talk when there is a decision. There are still 2 competitors who are almost ready and the neighbor, who has submitted a letter of intent, as I already told you.”
(but we knew nothing about that)

On Wednesday evening we sent him the confirmation immediately. The bank wrote that they confirm financing of €270,000 for us.
That Wednesday evening we became concerned about the neighbor and wrote to the agent asking if he had received the confirmation, that we would also submit a letter of intent if that helps, we really want the house… (We are also concerned that the agent might think we underestimate the modernization costs, but we do still have money in the bank to use, we just stupidly didn’t mention that in the email…)
Unfortunately, he did not answer.
It is now Saturday morning.
We would love to get the house. Should we call the agent again over the weekend? We could also say we are willing to pay a bit more, or pay the agent something. Is that allowed? Or how should we best behave?
Or maybe should we better not bother him?
Are we perhaps worrying too much?

We are happy about any tip.
Thank you very much,
Nina
 

pagoni2020

2020-10-24 11:29:48
  • #2
I would call the broker directly and use friendly but clear language. We are buying the house at this price, financially everything is already settled, please give us NOW a commitment or binding reservation confirmation for which we can, if necessary, provide a market-standard deposit. The thing with the different applicants means in my opinion only the - understandable - attempt at price manipulation in order to ultimately sell to the highest bidder. I wouldn't want to be pushed back and forth there. The broker offered the house as is and at that price and you accept his offer. I would say that to him clearly and demand an immediate and binding commitment, for which the broker can then have the necessary security on your side. We have had a similarly strange experience behind us, so I would want to have that clear right from the start; irrevocable!
 

Nina343434

2020-10-24 11:48:53
  • #3
Would you also call on the weekend? Or wait until Monday?
 

Martial.white

2020-10-24 11:58:18
  • #4
Call. He doesn't have to answer the phone. He won't let himself be pressured anyway...
 

nordanney

2020-10-24 11:58:58
  • #5
With the house I just bought, I had a similar problem. Several interested parties in the end, all wanting the house (after half a day the ad was deleted and there were 50 applicants). Also a sale from a community of heirs. The result was that it ended up being a bidding war. You can only annoy the realtor and you have to consider what the house is actually worth to you.

What writes sounds good. But unfortunately, it completely misses the reality. Such behavior is usually not allowed because you are immediately out.

Call the realtor, no matter what day, no matter what time of day. For example, also feel free to offer him a slightly increased commission. That worked for me alongside a slightly increased purchase price.
 

pagoni2020

2020-10-24 12:47:30
  • #6

NOW!
MY house purchase is IMPORTANT to ME.
No worries, if the real estate agent saw a deal disappearing, he wouldn't necessarily look at the clock before calling.
Calling too late + committing can also mean that you were late.......
What should happen.....?
 

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