Shady Agent or is it just me?

Shady Agent or is it just me?

Pittsburgh · Member since 2019 · 3 posts · 3 votes

While out riding around the neighborhood I wanted to invest in I ran into an open house and met with the agent. The house was overpriced (she even said it that day) I decided to try and network, she was nice enough to give me her time a couple days later in which we sat for about 2 hours talking about my plans in real estate and how she could help. A few days later she showed me some properties that i asked to see and then she told me about a listing that she had. We went to see it, a 2/1 house that was "turn-key". It was listed for $39,900 but her listing paperwork from BH said it was valued at $28,000 and Zillows Zestimate was $40k. I offered $20k and we ended up at $25k. I was excited, ready to have my first real investment property. I am new to this so i messed everything up, I somewhat read and signed the documents (in which she included a contract between her and I that i didn't notice until afterwards, i thought it was for this unit) and deposited the earnest money before i was supposed to. the sale was contingent on a satisfactory inspection. After i had deposited the money she sent me the disclosures that she "had just received from the seller", leak in the roof, leak in the basement and "other areas". I was bummed about this because she had not mentioned any of this beforehand. I was able to pull the offer before the inspection because the seller had not signed the agreed upon offer. After further thought and talking to the seller I was told that the leak in the roof is a small one that can be fixed and the one in the basement is because of the door, not the walls. i figure I'd give it another shot because rents in this area are between $650-900 for a 2/1, 960 sqft. and if the inspection shows that this is correct it could probably be fixed for a reasonable amount. I re-submitted my offer but she said she was not going to submit it until the next day or so because she is supposed to be getting another offer in that night. In the meantime i requested a showing of another house that was already occupied and was about the same price but listed with someone else. Overall i just feel like she is in control instead of myself or the seller. She "snuck" in that contract with the documentation of the offer, she held on to my offer and the lingo in the new offer says i have like a week or so to get the inspection done which is difficult because the ones i spoke are busy, even the ones she sent me. Am i being paranoid or should i just move on? i like the potential of the property but not the feeling i get from the agent.

1Reply
71 views

Most Popular Reply

Russell BrazilBusiness Member
Moderator
Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
7y

At those price points you should expect lots of problems eith the property.

And nothing sounds shady, you just sound paranoid.

See this reply in the discussion

29 Replies

Jump to latestLatest
  • Real Estate Investor · Unionville, CT · Member since 2016 · 260 posts · 167 votes
    7y

    @Ruben Vega you signed a Buyer Broker Agreement which you have to sign when working with an Agent for them to represent you. It’s the Norma process. Just ready your dates next time because now your bound to them.

  • Real Estate Agent · Gainesville, FL · Member since 2019 · 63 posts · 52 votes
    7y

    Buyer-Broker Agreements are not standard in every market. They’re not that common in mine, for example. If an agent is giving that contract to a buyer client, it’s supposed to be given upon commencing the relationship, not upon making an offer on a property, mixed in with other paperwork. Likewise, if this is the listing agent, she can’t represent him in a single agency relationship if she is already representing the seller. (All the above applies in my state - different states have different laws and customs so it’s worth familiarizing yourself with the law in your state, at the very least.) Either way, representation isn’t supposed to be agreed to on the sly, so that is just one reason I do think this agent is shady.

  • Investor · Baldwin, MD · Member since 2016 · 2 posts · 1 vote
    7y

    Doing the right thing when no one is looking. That is what integrity is. In my view, this agent doesn’t have it.

Join the conversationCreate a free account to reply, vote on answers and follow this thread.