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Peter Del Vecchio's Advice

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  • 14 Contributions
  • 0 Best Answers
  • 2 Helpful

Peter Del Vecchio wrote:

I am about to go into a contract on a house where the asking price seems unbelievable low.

Answer
Trust your instincts - BUT - also trust your Realtor! If you don't have a buyer's agent, I urge you to get one BEFORE you take any action or make any commitments.  Normally, the buyer's agent's fee is paid through the proceeds of sale, so you should not need to worry about extra expense.Your buyer's agent will guide you through the entire process. S/he can also get valuable information about the property, and can contact the seller's agent on an equal footing as peers. I hope this helps!
November 19 2012
(0)

credit score above seven hundred. Can I get financed on a home around sevenhundredk?

Answer
Your credit scores show just one aspect of your total financial picture.  I strongly urge you to contact a lending professional (mortgage lender, bank, credit union, etc.) right away.  They are trained to give you concrete answers to your specific situation. Realtors are neither trained nor licensed to give advice on lending matters - that is best left to the lending industry professionals! I hope this helps!
November 19 2012
(1)

What constitutes a "timely response" from real estate agents?

Answer
OUCH! You need a different agent!  Maybe she doesn't need your business, but most agents I know do - especially in this market!!! A responsible agent would get to work that SAME DAY if you told him/her to draft an offer, and would have it in the other agent's hands within 24 hours. My advice is to talk to a few other agents.  I think you will be shocked at how under-served you are. I hope this helps!
November 19 2012
(0)

Realistic expectations for buyer's agent?

Answer
What constitutes "realistic" is whether your agent's intensity to follow through matches your own.  If it does not, I suggest you move on immediately. We work for you, not the other way around! In a Buyer's Market such as we are in, any excellent agent will be grateful AND super attentive to a buyer who communicates as you have. A "hungry" agent would have responded immediately, cut class if need be, and tended to your needs, including submitting an offer within 24 hours or less, given the scenario you have described. I hope this helps!
November 19 2012
(0)

Closing date come and gone

Answer
Your agent should have kept track of the progress and kept you informed. It is highly unusual that you did not have to deposit any earnest money with your agent. Did you have a signed contract with your agent, that she was to serve as your exclusive Buyer's Agent?  If not, or if that (her fee being paid by you in the event of a failure of the seller to fulfill the terms of Contract) is not stipulated in the agreement you have with her, and the closing date is now 30 days past, my feeling is that you can be out of there, AND that she would be lucky if you did not file an official complaint against her with your state's Real Estate oversight/regulatory board, which is easy to find via Google, etc.. This is a very serious issue. I hope this helps!
November 19 2012
(0)

I have a contract with a closing date specified and that date has passed but closing never happened.

Response
Hi!  In Virginia, the closing date includes the words "on or about", because things often do not go according to an exact plan.If you have proof that your attorney and realtor have both caused this problem, you might wish to either consult another attorney on your options or call the real estate agent's broker and have a heart to heart chat about the situation (translation: light a fire under someone's posterior and hold them accountable). I hope this helps!
November 19 2012
(0)

I have a contract with a closing date specified and that date has passed but closing never happened.

Response
Hi!In Virginia, the closing date includes the words "on or about", because things often do not go according to an exact plan.If you have proof that your attorney and realtor have both caused this problem, you might wish to either consult another attorney on your options or call the real estate agent's broker and have a heart to heart chat about the situation (translation: light a fire under someone's posterior and hold them accountable).I hope this helps!  Feel free to contact me any time!Sincerely,Peter Del VecchioBuyer's Realtor ®RE/MAX Affinity Group [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
October 23 2012
(0)

Closing date come and gone

Answer
Hi!Your agent should have kept track of the progress and kept you informed. It is highly unusual that you did not have to deposit any earnest money with your agent.Did you have a signed contract with your agent, that she was to serve as your exclusive Buyer's Agent?  If not, or if that (her fee being paid by you in the event of a failure of the seller to fulfill the terms of Contract) is not stipulated in the agreement you have with her, and the closing date is now 30 days past, my feeling is that you can be out of there, AND that she would be lucky if you did not file an official complaint against her with your state's Real Estate oversight/regulatory board, which is easy to find ia Google, etc..  This is a very serious issue.I hope this helps!  Feel free to contact me any time!Sincerely,Peter Del VecchioBuyer's Realtor ®RE/MAX Affinity Group [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
October 23 2012
(0)

Realistic expectations for buyer's agent?

Answer
Hi!What constitutes "realistic" is whether your agent's intensity to follow through matches your own.  If it does not, I suggest you move on immediately. We work for you, not the other way around!In a Buyer's Market such as we are in, any excellent agent will be grateful AND super attentive to a buyer who communicates as you have.I would have responded immediately, cut my class if need be, and tended to your needs, including submitting an offer within 24 hours or less, given the scenario you have described.I hope this helps!  Feel free to contact me any time!Sincerely,Peter Del VecchioBuyer's Realtor ®RE/MAX Affinity Group [deleted by Zillow  moderator. Please see our Good Neighbor Policy for posting guidelines]
October 23 2012
(0)

What constitutes a "timely response" from real estate agents?

Answer
Hi!OUCH!You need a different agent!  Maybe she doesn't need your business, but I sure do, and most agents I know do - especially in this market!!!I would get to work that SAME DAY if you told me to draft an offer, and would have it in the other agent's hands within 24 hours.My advice is to talk to a few other agents.  I think you will be shocked at how under-served you are.I hope this helps!  Feel free to contact me any time!Sincerely,Peter Del VecchioBuyer's Realtor ®RE/MAX Affinity Group[deleted by Zillow  moderator. Please see our Good Neighbor Policy for posting guidelines]
October 23 2012
(0)