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Another major mistake is to sign exclusive agreement for 6 months. Even though we did not feel comfortable with that, we went ahead to sign the document.
Thanks for all your suggestions.. hopefully our nightmare will be over soon... it's been a pretty rough ride for us - first time homebuyers that was hoping the agent will help us in the process..
Our buyer's agent have been putting pressure on us to rent the house to the seller after closing. We have moved the closing date a month from the closing date in our offer per seller's request (more than 2 months from binding agrement). Can we get into our home at all after going through this process? This is not a short sale nor foreclosure.
We are confused now on what is the role of a buyer's agent....Even though commission is paid through seller, this is built in the price of the home.. I would think effectively, we paid the buyer's agent?
It's a shame that an agent was dishonest to you. That nearly always means being fired in my book.
Thanks for all your replies. We are okay to do all the house search ourselves, drive around, do the comps and just get our agent to open up the MLS electronic key.
The real disappointment was when we found out that our agent has not been truthful when she told us there is multiple offers and convinced us to offer a higher price on top of what we have decided.
We will keep the agent but I hope other homebuyers can learn from our mistake.
Since December 2009
With regards to your most current question, it can depend on both your jurisdiction and the agent. What state are you in? State laws may vary on agent duty.
The agent may be more or less hands on with a transaction as a matter of choice as well. Some agents babysit contracts more than others. How much oversight I give usually depends on buyer preferences (some buyers want the matter to be primarily handled by a lawyer or themselves beyond the purchase).
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Can we release a buyer's agent after binding agreement
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We have been doing much of the work for buyer's agent since day 2 and giving up contingencies as we missed the deadlines for contingencies. After the binding agreement, agent is not doing anything except for calling us every other day to show her documents to prove that we have secured our financing. Basic questions posted to her all redirected to lender or attorney or the standard answer "I will get back to you".
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