Realtor screwed up my check
Hi Guys/Gals,
I have a wholesale deal in place on a bank reo. I got the property under contract at $54,500 and I'm going to wholesale it to my end buyer for 59k all cash using a simultaneous close. My escrow company has no problem doing the simultaneous close and neither does the banks escrow company as long as I pay the owners title policy. Slam dunk right? NOPE. Read below the email the listing agent sent me as to why I can't do the simultaneous close.
Email: *The issue is not seasoning. The issue is that the original agreement was as-is, cash, non-contingent sale. You provided a proof of funds from one source, and now you want to change the source of your funds to have them come from the proceeds of another sale. In essence, you are making the sale contingent on the close of the other sale. The original agreement also says closing for the seller, at least, will take place at their designated closing company. You are now trying to change that part of the agreement also and have them close with another company they did not choose.*
So that's the email she sent me. She obviously has no idea what a simultaneous close is and that the deal is still going to be all cash, as- is, no contingency. But I'm tired of going back and forward with her about this deal. My agent is so passive that I have to defend myself with the listing agent ..Smh..So Now to close this deal I have to do a double close which is about to eat away at the profits. Talk about a bummer..Anyway, I'll just be happy to close this deal and I've sworn to never buy from that listing agent or her company ever again....