All Forum Posts by: Shaquetta Chittams

@John Casmon I'm not familiar with a mortgage contingency, could you explain it? Is that the same as financing? I'm researching now what the cost could be? The only negotiation was the inspection report. The solution the seller was offering wasn't going to fix the problem so we opted to release the contract. 

@Ned Carey @Ralph R. Thanks for your feedback. I'm disappointed because I didn't expect to make another mistake like this but I'm learning its apart of the business and we all have to pay our dues.... I'm hoping that this doesn't drag on forever. I spoke with a mediator the other day and she mentioned getting a demand letter and possibly filing a Lis Pendens. I'm looking for attorney's now to see how much a demand letter would cost. 

@Jay Hinrichs Wow! Your story sounds like a roller coaster. You're right there is a mandatory mediation clause and we have a free mediation option in Baltimore so I'm looking into that as well. This is definitely a lesson learned. I really thought I had everything accounted for but I see I've learned something else. I think the seller is only being strict because we decided not to move forward. When we were walking through the property with the inspector I started to get the feeling something might be wrong but we didn't terminate then because we didn't know how severe the problem could be and we thought the owner would fix it and if he didn't fix it we had a way out. 

Now what I am wondering is if they will include our inspection findings in their disclosures going forward because they can't say they don't know. A few weeks ago we had a pretty bad rain. There was major flooding in Ellicott City, MD. I'm sure after that rain it smells horrible in that basement. 

@Ray Slack Sent. 

Welcome! You've come to the right place. The BP community has been extremely helpful if I have a question and I've had many lol 

There is a lot of great information in the forums, on the blog and podcasts. 

@Russell Brazil Yea I've thought about that. I think just starting it feels like a lot especially when you thought everything was good to go. Thanks for all your feedback! 

@Scott Trench Thanks for the post. You mentioned collecting rent possibly for $0 online. Could you list some of these sites or are you simply referring to online bank transfers (which might be a fee)?

Hello @Ray Slack

1. Did your agent inform you that the deadline was approaching? She should have done that and requested and extension of time from the seller.

Yes, but because it was only a day she emailed the listing agent and the listing agent agreed it was ok. They seller even responded to the items he was willing to fix per the inspection report. Of course it wasn't until I opted to release the property because the repairs offered didn't satisfy the problem, the seller decided the one day mattered. I wasn't aware an extension needed to be filed. So that's really a lesson I've learned from this experience. 

2. Did the seller disclosure in the contract that the listing agent was related to the seller?

Yes and no, the disclosure statement is completed and signed but it doesn't include the selling agent's name. I asked the broker if that mattered and she said no. I think at this point I need to find a real estate attorney in my area. 

3. How much EMD are we talking about?

It's $1,000 which probably seems like nothing but I've already had a 203k inspector run off with my cash earlier this year. I had to go to court for that and I won but I don't know if I'll be able to collect the judgement. So this isn't helping much. 

@Ralph R. I would think they should have to disclose it but according to @Russell Brazil in MD they are not required which just seems so weird to me. What's the point of having disclosures if you don't have to use them? But at this point for us does it really matter whether they do or not? It's not going to get us our money back so for now we just wait. I'm starting to learn that what I thought was in place to protect me really doesn't so now that I have a little more insight on how I can protect myself I will move differently going forward. I appreciate everyone's feedback. It's been extremely helpful. 

Thanks everyone!

@Russell Brazil I spoke with the broker yesterday and according to her this is no fault of our agent. 

@Michael Noto I have to look at the contract. 

@Ralph R. @Matthew A. Thank you for your feedback! I will definitely incorporate these contingencies going forward.