Submitted by: Submitted by turnipgb
Views: 296
Words: 850
Pages: 4
Category: Science and Technology
Date Submitted: 02/26/2011 10:18 AM
Michael,
I certainly appreciate everything you have done while we worked together on the potential real estate deal at 411 Allison. You have always been someone I look up to and respect. Your advice and guidance in the process was priceless and very beneficial for a first time home buyer considering purchasing a short sale. I really do wish that before we ever made an offer, or spent a few months waiting on the bank's response that you had found the home eventually purchased. It would've saved time and effort. There are several reasons why I hesitated to include you in the correspondence and deal that eventually went through.
First, it was very disappointing that you had the conversation with Aunt Carol and the way it went down. Although most of the information eventually becomes public knowledge through tax records etc., it seemed to be somewhat disrespectful of the client-agent relationship to share the purchase price and down payment information to a non-involved, sometimes nosy family member. The context of the conversation included everything which had me hesitant to use family in any sort of real estate deal in the first place. Although this didn't affect the eventual decision on Allison, it certainly severed my loyalty to solely using you for future real estate deals.
Second, when we submitted the initial offer on Allison, it was always with the full intention of having an escape route. I honestly never loved the house, it just seemed like a good deal. So we decided to line the cards up and see what the bank would play with. If you recall, the only reason we went ahead and submitted was because we had that due diligence time, and were waiting for the bank to accept or not before making the final decision. I also never intended to put the offer price above the asking price. That was probably an err in judgment on my part to not correct that sooner. After the inspection which revealed a host of major repairs that were on top of my list of...