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Well, here we go again! I just had an inspection on an REO property - I verified with the listing agent that all utilities were on - the inspection was scheduled and even the inspector called the listing company and was told that all utilities were on. My buyer, inspector & I arrived as scheduled and the gas was not on! Now my buyer will have to pay an additional $100 for a trip fee since the inspector was not able to complete the inspection. This happens so often and is so unnecessary. So to all asset managers and banks (especially Fannie Mae) will you please list your properties with agents who will do their job instead of playing a numbers game on how many listings they can get! This is very frustrating and wastes everyone's time as now I have to submit an addendum to extend our inspection time so that we are within contract, make another trip to the property to make sure gas is on before I call the inspector back out so we don't have any surprises again. OK, I have vented again!

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Comment by Lori Hawkins on January 9, 2010 at 9:59pm
Cindy, I have sold many REO properties representing the buyers. I think a handful of them were listed by agents who were dedicated professional agents, in my opinion. On the last transaction, I pretty much handled the entire transaction... had the home de-winterized, then winterized again, had the gas turned on in the agent's name, etc, etc. I get so frustrated with AM's that allow an agent to continue to handle properties for them when we as agents know these agents do not know what they are doing. Do you think it is a good idea to find out who the AM is on a property listed by one of these unskilled agents and try to get one's foot in the door by emailing the AM with photo's on some aspect of the property that has not been properly taken care of, offering your services if they decide to make a change? I see too many REO properties that are on the market for over 120 days. Why are the AM's putting up with these agents? I guess these are my pet peeves.
Comment by Cindy Billman, CDPE, SFR, HAFA on December 23, 2009 at 5:42pm
Update - after numerous phone calls and emails I finally had someone call me to tell me the problem was that the gas couldn't be turned on because there was a leak and they were waiting for bank to approve the repair (I should have been told this up front) the asset mgrs were changed & the new one had to be updated. So, maybe next week my buyer can complete his inspection - we are due to close on Jan 8th - anybody want to bet that this will be met?!!
Comment by Victoria Frieberg on December 15, 2009 at 9:30pm
I closed with a listing agent last month who went so above and beyond, we all hugged at the closing. His lender rekeyed and locked us all all twice..did not get water on as promised..he put electric in his name to get us through inspections..amazing..this guy cared so much about my buyer as a young person he bent over backwards. He invested himself for us..and also quit his successful career after we closed. Said he could not take it anymore...the good guys are out there..just don't know how many are going his way..
Comment by Jan Baron, RDCPro, CSP, BPOR on December 14, 2009 at 9:30pm
Cindy, I have been dealing with the same thing for the past week! The listing agent insisted that all the utilities were on according to her "records". A week later, we are still waiting for confirmation of the water being turned on. Same thing, I have to write another extension addendum, my buyer is furious that he has to make another trip to the property and take off work, I have to write an addendum asking the bank to pay the extra $100 return trip cost. If I were the asset manager the agency would be fired due to all the delays, loss revenue, and incompetency of the staff.
Comment by Richard Lawler on December 14, 2009 at 8:01pm
I had the happen to me once and it was in a condo complex! First the locks were changed on us yet we go in. Then when we were going over the report the inspector informed us that he could not check the plumbing because the water was off. I called the listing agent and told her to get there now that the water was off. She showed up just before we were leaving. This is the first complex I have ever seen the water was on individual meters. I will never miss that one again!
Asking the other agent to pay the extra as in your case $100 is a waste of breathe. Even though we was not able to check the plumbing we requested the AM be held liable for any and all damage that may be caused by the plumbing and got a home warranty thrown in!
Since then I check myself before having the property inspected. The key is to put it in writing for the AM to approve or disapprove any damage related to the utilities not being on at time of inspection. Remember document, document document!
Comment by Johnny Huang on December 14, 2009 at 4:09pm
Will the REO agent care to pay for it? Probably not...many reasons why they won't shell out that $100 for the buyer.
Comment by Namneet Dhaliwal on December 14, 2009 at 1:57pm
Ask you REO listing agent to at least pay $100 for the trip fee as it is not your's or your buyer's fault.

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