Am in the process of purchasing a SFH that my agent had never once informed me any HOA fee involved, though he'd checked those boxes that said seller shall pay for HOA transfer fee and seller pay HOA document preparation fees on page 2 0f 8 from purchase contract; item 4 E.3) & 4) (which I later found out from my friend who‘s an agent also); where I'd let it slipped; just went by his verbalization when he'd went over the contract with me; he did told me none of those fees on page 2 concerned me and they're all paid by seller with the exception of 50/50 escrow fee; without further scoping into the itemizations which he should've had; so should I. In addition to I'd always asked if there's HOA upfront before I'll consider checked out any properties which answer he gave me was no; took his words for granted again…
Comes the escrow acceptance letter needed to be signed, the $45/mo HOA fee only then caught my eyes, I asked my agent what's it about since I wasn't at all aware of it up until this point, he then told me that's just the escrow's letter template, it doesn't apply on the purchasing property.
Nevertheless, I’d wrote “ N/A “ right next to that paragraph with his approval before I’d signed at the bottom of that page for the peace of mind.
A couple of days later, upon calling the escrow to confirm they've everything they needed from me. Only then found out from them that they're waiting on the HOA's info which they assured me its existence and will be included, despite I'd wrote " N/A " next to its mentioning paragraph on the escrow acceptance letter. Followed by a phone call to my agent with frustration; his reply was " Oops! Sorry about that, WE (meant me and him) both had missed it from the listing” (which I’ve never gotten one from him) and he rationalized it by tried to have me offsets the $45/mo by increasing the rent to my tenants to justify his negligent and inconsistence informing. He’d also told me the escrow is just going to bypass my dispute on the escrow acceptance letter and will go through its process as if I’d agreed to it completed.
Any fix to this twist at this point? Or I have to live with the $45/mo for my entire ownership? Though I didn’t read the signed contract that I should have for my bad.
Am I suppose to be informed what kind of services comes with the HOA before asking me to sign the contract's page 2? Let along the misled. I wouldn't have had offered such generous price for this house in order to ruled out my competitions; $13K above its REO listing price; only if the agent isn't seemingly tried to pulled a fast one on me to avoided most buyer's HOA syndrome, besides the seller's agent was manipulating the selling price as wellÃ¢ÂÂ¦ my agent is just now requesting the HOA service coverage from the escrow for meÃ¢ÂÂ¦
Any thoughts / advises would be appreciated.
Just what did you think happens to people who sign big contractrs without reading them?
I don't think you have any grounds to back out, because the HOA was mentioned in the escrow papers and you signed them.
Ditto, I don't think you have any legal grounds to go after the agent, because the HOA was mentioned in the paperwork, and you signed it.
My suggestion is that you take the whole mess to a lawyer and pay him to look over it and tell you exactly where you stand.
It's possible that if escrow hasn't closed, you might get your agent to take a small cut in his commission based upon the fact that he mislead you.
But the fact remains that you signed the contract.
At a minimum, learn a lesson and stop signing papers without reading them.
Thanks for all of your advises, it turns out this agent is in the middle of quitting (or being fired) from the current broker and getting in to another; he has been sitting on doc for over 3 weeks (mostly basic REO disclosures that needed to be signed and return to selling agent) that he didn't know how to pull them out of Windforms (Realtor Online Contract data base); asked seller's agent questions about them over and over; lack of REO knowledge (REO Specialist printed on his card) and couldn't care less for his last few clientsâ¦
Relayed the facts above (with a little help from the selling agent) in addition to the tangible misled evident to my agent's boss and got only 18 moths worth HOA fee ($810) credited.
Yes, another rookie's lesson learn; just didn't think he would be that much out of line for a major issue like such; considering he's a 72 year old guy with shallow ethic. Well, perhaps I can count on a some help from the HOA if my tenants decided to park their cars on the front lawn besides to let the weeds grown on it?
Just have to make sure I’m going to team up with a reputable agent with traceable success on his/her own for the upcoming property, let along an attorney to overlook the transaction; previous 2 Century 21 agents were young, inexperienced and lazy for my other house bought back in this January; one of those 2 Century 21 even got so many awards displayed by the fancy receptionist front. And just when I thought I’d found this much older / stable and experienced (falsely claimed) one…
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