All Forum Posts by: Huso Akaratovic

I sure will. Thank you. 

@Wayne Brooks, Hey Wayne, you got it. That is exactly what occurred. Someone that has 30 plus years of experience should know better then that. The only problem is her commission will not cover all my loses since it was a flat fee that I’m paying her.  Also, I wanna make sure she doesn’t effect other people when doing transactions that is why I wanna take actions. I would rather take a loss and address this issue so others don’t have to experience this nightmare. I think she’s reckless and negligent and only cares about her commission. No interest In protecting clients whatsoever. 

@Charlie MacPherson @David Lichtenstadter  thank you  both for your input. 

I Will write an email to my agent to confirm that she has done her part in order for me to move forward with the closing. She is very unprofessional and should not be an agent/broker. After she had disconnected the phone line on me twice, back to back. I did not contact her anymore. I'm avoiding unnecessary drama. I don't want her to accuse me of harassment or anything similar. I will be meeting with my attorney today to see if they have been in contact with her. We are supposed to close on coming up Wednesday. As far as I am concerned, this will be impossible since at this point I don't even know if the agent had order the HOA book and the pest control inspection as she was supposed to well in advance. I trusted her and I feel like she had screw This up all around. I just don't want to be sued for something I didn't do!!!

@David Lichtenstadter I’ve reached out to an attorney that’s doing my closing. Waiting on him to get back with me. I just wanted to also get an opinion on here what my rights are now  and how I should handle the agent. 

she is the broker and only agent in her company! 

Hello BP family. My name is Huso Akaratovic and I am from Newport News, Virginia. As I am not new to BP, however, this is my first time doing an official introduction in the forum. I have been reading a lot of posts and have learned plenty from all of you and I appreciate it a lot! I have a full time job, and invest on the side. I purchased my first property January-2015 and since then acquired a total of 8 up to date. Prior to making my first purchase, I spent time reading and learning and surrounded myself with likeminded people. I like investing into rentals, flips, and I’m slowly transitioning into small apartment buildings and commercial properties. I currently have my first flip house under contract and have encountered an issue with my agent. I am struck and in need of guidance. Any assistance is much appreciated. There were discrepancies between the listing agent and I. The property we were selling was listed at $84 900. The offer came in at $80 000 with a request to pay for the buyers closing cost up to 3% and no more than $2400. I have agreed to these terms. Once the inspection was completed the seller sent a Property Inspection Contingency Removal Addendum (PICRA). I reviewed the PICRA and have agreed to repair the items on that list, but I counter offered them stating that I will not pay the closing cost. My listing agent prepared an additional addendum and indicated that I was not going to pay the closing cost. She forwarded the PICRA and the separate addendum to the buyer's agent. Several days went by and the buyer's have advised that they will sue me for the breach of contract if I do not comply with paying their closing cost. At this point I was not aware that I was in violation. Once i completed review of the contract, it was determined that my listing agent made a mistake by submitting a separate addendum. Instead she was supposed counter my offer on the PICRA form for it to be valid. I immediately contacted my listing agent and explained to her what I have discovered. I also advised her that the mistake was made on her end and as a result of that I am going to loose $2400. She responded to me saying that "I have been doing this for 30 years and I do not think that I made a mistake. Furthermore, she indicated you have told me to this counter and I've always done it like this. She also indicated to me that she will waive her commission fee, but does not want to speak to me again and do anymore deals". After making that statement she disconnected the line. At this point I was concerned and I did not know what to do since I wanted this deal to go through and make sure the buyers were aware that I was going to honor this contact. I called my listing agent back and asked her what needs to happen next and that I was concerned about this deal. She responded to me stating " I will do the 3 things that i have to do in order for you to close, but I do not want to speak to you again and do anymore deals. I will also waive my commission fee". She then disconnected again leaving me in a situation that I am not sure how to handle.

Joint local PREIA group. They have a lot of information. Good luck.

Hello all, I'm considering purchasing my first flip home with a partner, however, for both of us this is a new experience. We are considering doing 1 or 2 deals together and then branching of individually. What's the right way to make this purchase, in our names or LLC? Any input is appreciated, sorry if I'm being vague. Thank you