B Mike West's Advice

To which score do you refer?  If you are talking about the five star rating system for Realtors, they are the result of reviews by past clients. Realtors ask their past clients to rate the services performed during a real estate transaction.  One is a poor rating and five is the best rating.  There are four categories and the average ratings show up when you see a Realtor's name and photo.This is Zillow's version of a Yelp rating. When selecting a Realtor in your area you can see which has done a good job for this clients.

ABSOLUTELY!  A frank discussion with a local loan consultant will get your questions answered quickly and will not cost you more than the $25 or so to run your credit score.  I have no idea where you are in the country.  In California, closing costs usually run about 3%  of the loan amount.  That will vary depending on your location.  So you will need the down payment amount and about 3% of the loan to cover the costs.  There may be other ways of completing a purchase where you will not need that much.  You loan consultant can discuss those with you.Once you are pre-approved, you will know the price range in which to look for a home.  Good luck.

I would suggest that you contact a local loan consultant and discuss your circumstances in detail.  If your score is too low they can suggest a course of action to make the needed improvements.  There are also loan programs available that are not credit score driven.  Eligibility is limited, but you may qualify.

Most experienced Realtors would not waste their time or yours showing homes if you are not qualified to purchase those homes.  It sounds like your agent is inexperienced.  If you have signed a broker/buyer agreement you could have a problem because you are likely obligated to use that broker to make your purchase for the period of time specified in that agreement.  If you have not signed a broker/buyer agreement you can move on.I would suggest that you have a frank talk with this individual.  Let them know that you feel that their error cost you the home you wanted. See how they respond.  Perhaps they can make up for that in some way you find acceptable. Of course, if you don't get you credit score into an acceptable range it is a moot point. You are not going to be able to buy any home.  I would focus on that before looking an any other homes.

You will have to select a local loan consultant and discuss the particulars of your financial situation.  In order to get loan approval, you will have to have enough income to make the payments on your existing home and the home you intend to buy.  Much depends on other aspects of your situation and the lender you try to gt the loan through.

I can't speak to how the funds are handled in MD.  I suspect the process is similar to what happens in California.  In California, once your funds are sent into escrow, the settlement agent can not do anything with them unless he or she receives instructions that have been approved.  The settlement agent is a neutral party following the written instructions agreed to by the buyer and seller.So the short answer is that you do not have control over those funds once they are in the hands of the escrow officer.  If something happens and you want to get the funds back, the seller will have to agree to release them.Remember that the seller has accepted your offer and removed their property from the market based on your promise to purchase that property.  If you were to decide to back out of the deal without an acceptable reason, you will be damaging the seller.  At the same time, the settlement agent is providing you protection by ensuring that the seller meets all of the terms of the contract that they have agreed to.Your buyer's agent should be able to guide you through this process, explain everything and help you avoid any problems.  Although it might not seem like it at this point, most buyers do survive the process unscathed.

Keep in mind that a vast majority of loans are sold on the secondary market.  You might be focused on an issue that is not going to be relevant a month or two after you close on your loan.  You might ask them what percentage of their loans that they sell.  If your loan is mainstream you are not going to have much say in who ends up doing the servicing.

That depends on many things.  (Loan servicer, investor, seller's hardship, how complete the short sale package is that the listing agent submitted, how good all parties are at communication, etc...) and this applies to each lender involved.  If there is a second and/or third loan, each lender goes through a similar process and you can run into a situation where there is a dispute between lein holders about who gets what.  It can take a few weeks or many, many months.  You might also get a counter offer from the lien holder(s), asking for you to increase your offer. When you make an offer on a short sale you have to be prepared to wait it out. Buyer's agents should explain this to their clients before an offer is submitted. Unfortunately, there is no guarantee that the short sale will be approved, so you can be waiting for a long time and not end up with the home. 

What does your buyer's agent think?  Appraisals are based on historical sales--short sales, foreclosures and regular sales--of similar homes in the same area, usually sales that took place in the last six months.  In markets with raising prices that can pose a problem. In a way this is an additional level of protection for you, the buyer.  If it does not appraise you can go back to the seller and negotiate a price that will allow you to get a loan.  The seller will have a difficult time trying to sell the home for more than the appraised value unless they can find a buyer who wants to pay the shortfall (the difference between the sales price and the appraised value) out of their own pocket.  Not many buyers are willing to do that.Of course, if it does not appraise, you always have the option to do that--if you have the cash to spare.

Where did you get the idea that when a buyer works with a listing agent they will save any money?  The listing agent is under contract with the seller and has an obligation to that seller to get THEM the best deal possible. What normally happens when a buyer works with the listing agent is that listing agent "double ends" the commission.  Did you discuss your wishes with this listing agent before you started the negotiation and did everyone sign a written agreement that spells out how the transaction is to be handled?  Without that, the listing agent has no reason to deviate from the norm.   Why are you so focused on the commission? It is being paid by the seller.Unless the listing agent and seller agree to let you get involved, it is none of your business.You should have had a buyer's agent representing you from the start.  If you had and you would not be in your present situation. Trying to get someone involved as your buyer's agent now would make things much worse. Your best course of action is to contact the listing agent's broker and explain what is going on.  That broker is resposible for the listing agent's actions and can ensure that nothing inappropriate happens.