Florida Househunting

[rapmarks Moderator Find all posts View Profile Close rapmarks]

is it the house in Englewood on the canel or the house on country Barn? I am so excited! Remember when i was looking, and posting every day. the market was different, we would line up three houses to see and two were sold while we drove to them. prices were escalating daily. we would look at a new subdivision all the good lots would be gone , and three weeks later some "flipper" would put them back on the market for $50 thousand more.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Canal house in Englewood.

We're not counting our chickens yet. I don't trust auction.com.

The lenders that do the financing for homepath and auction.com are a pain in the - - - - too.

[chriskre Super Moderator Find all posts View Profile Close chriskre]

Canal house in Englewood.

We're not counting our chickens yet. I don't trust auction.com.

The lenders that do the financing for homepath and auction.com are a pain in the - - - - too.

Don't tell me you're giving up already.

Can't you be a bit positive about this?
Maybe the SW Florida gods will smile on you for a change if you don't jinx it.

[bevvy5 Moderator Find all posts View Profile Close bevvy5]

Just took a look a the pictures. Looks like a very nice little home away from home.

Congrats - I hope it works out for you.


Bev

[chriskre Super Moderator Find all posts View Profile Close chriskre]

JLB,
Does the boat in the front yard come with the house?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Just took a look a the pictures. Looks like a very nice little home away from home.

Congrats - I hope it works out for you.


Bev

Thanks.

If it doesn't, it's like the bus, another one will be by before too long.

Still waiting for a phone call or email.

While I've been waiting, I got an email with more Englewood listings.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Still no word.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I finally spoke to a real person at auction.com, and it is as I suspected, all they are doing is soliciting offers to present to the seller (Fannie Mae).

We could have done that, in person, with the listing agent, and not have to pay a buyer's premium.

The house we bought has an open house this Saturday and Sunday, so while we are messing around with all the crap auction.com requires, the listing agent could solicit an offer, which may get presented and accepted before ours is even presented.

Sometimes things are what you suspect they are.

bummer

[chriskre Super Moderator Find all posts View Profile Close chriskre]

So why didn't you use the listing agent to present your offer.

How did you end up on auction.com anyway if an agent showed you the house or are you buying this sight unseen?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

One step closer . . . printed the 33 pages that will constitute our contract/offer.

[longtimer Senior Member Find all posts View Profile Close longtimer]

Keeping my fingers crossed for you. Hope all works out with the new home purchase!

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Having read through the 33 pages, I know we cannot execute the contract until a few questions are answered. I cannot get through by phone and so far they have not replied to email.

In the mean time, we are required to excecute the contract and forward earnest money within 24 hours, or face rejection of our winning bid, and damages.

I do not know of many banks that can guarantee wiring of funds with-in 24 hours. I do that fairly often and it is normally tomorrow or the next day service.

Also, for those using financing, it requires a pre-qualification letter as part of the contract, and that is pretty hard to do in 24 hours when lenders require a specific property, and you don't have a specific property until you win an auction.

[Pat H Senior Member Find all posts View Profile Close Pat H]

Having read through the 33 pages, I know we cannot execute the contract until a few questions are answered. I cannot get through by phone and so far they have not replied to email.

In the mean time, we are required to excecute the contract and forward earnest money within 24 hours, or face rejection of our winning bid, and damages.

I do not know of many banks that can guarantee wiring of funds with-in 24 hours. I do that fairly often and it is normally tomorrow or the next day service.

Also, for those using financing, it requires a pre-qualification letter as part of the contract, and that is pretty hard to do in 24 hours when lenders require a specific property, and you don't have a specific property until you win an auction.

You mean you didn't check out the requirements BEFORE you bid?

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

Oooh. A finger-scolding. I'm pretty sure you were my first-grade teacher.

Sure, I have saved the pre-auction pdf file. And I have been studying this, on homepath and auction.com for a year. As you know, we went to Florida, viewed properties in person, and went to all the County offices and asked all the right questions.

Very few would have done the amount of due diligence we have done.

This is 33-pages of totally new stuff that you don't get to see until if and when you win an auction. Not your standard RE contract either. And you have 24 hours to execute it and wire your funds, with no one to talk to.

I've been at this most of the day and it's after 4:00 PM.

I called the closing agent, auction.com, and was on chat, when someone from online contracts finally answered the phone. Her answer to me wanting answers in writing (just reply to my email) was, "That's not gonna happen."

Her answers to the deficiencies in the contract were pretty much, "I know, I wrote it, so what?"

So, once DW gets home, it's time to proceed, execute a faulty contract, saying stuff happened that has not, and wire earnest money, or not.

But, we are into now, so . . .

The or not would lead to damages.

But, I appreciate your concern.

[JLB Please excuse me, I'm a Dick. Not a moron just a Dick Find all posts View Profile Close JLB]

I finally spoke to a real person at auction.com, and it is as I suspected, all they are doing is soliciting offers to present to the seller (Fannie Mae).

We could have done that, in person, with the listing agent, and not have to pay a buyer's premium.

The house we bought has an open house this Saturday and Sunday, so while we are messing around with all the crap auction.com requires, the listing agent could solicit an offer, which may get presented and accepted before ours is even presented.

Sometimes things are what you suspect they are.

bummer

Hmmm! This email from auction.com says the same thing:

You currently are the winning bidder on this property. DoesNOT mean you have bought this property. The bank will still need to approveyour bid and property will need to go to escrow. You will be contacted if thebank accepts your offer. Thank you!

Like I said, isn't that the same thing a RE agent does, without all the hassle?

We made an offer on one here at home, through an agent and without hassle, and found out the results the next day.