I can’t make this stuff up. This happened today.
Agent: “Please send me the HUD when you have it ready.”
Escrow: “Sure, no problem.”
A short time later…..
Agent: “I got your e-mail and I want to know how much my buyer needs to bring to close.”
Escrow: “Did you review the HUD?”
Agent: “Yes, I have it right here, but I want to know how much my buyer needs to bring to close?”
Escrow: dead silence….a moment goes by, then…”It’s on the HUD.”
Agent: “But, I want to hear you say it.”
How much was it?
Reminds me of the joke where the client calls and finds out his attorney has died, but I don’t get the punch line on this one.
Maybe they like your voice 🙂 Was it a guy?
Ardell,
Not a guy.
Kary,
We don’t understand it either. It is beyond us. The amount is right in front of the agent’s nose on the HUD.
Also today, we had another contract submitted where the owner of record did not match what was on the purchase & sale agreement and the legal description was of a completely different parcel.
Was it a lot?
I think it’s one of those “risk reduction” policies as in “escrow should TELL you what the client should bring to escrow”. Some people are very literal and risk conscious.
Maybe they lost their reading glasses? 😉
Lynlee,
Speaking as a Realtor I get the punch line! We’ve received Purchase & Sales Agreements from agents that haven’t actually been legal P&S. There are so many agents out there that don’t have a clue what they are doing all the way around, not just know how to read a HUD. But thank goodness there are a lot of Realtors that do know what they are doing. You know way back when, when homes were $35,000 and there weren’t multiple offers bidding up the price and you went to your local bank to get a 30 year mortgage and all the bank mortgage programs were pretty much the same it was rather simple. Now those same homes are costing $700,000 and there are 70 or 80 different (well there used to be anyway) mortgage programs out there and buyers were bidding prices up by 10% to 30% in some cases…do you want a real estate agent representing you that doesn’t know how to read the HUD? Well, trying to keep a positive attitude here at least they knew there was a HUD!
No offense to agents in genral as the industry has some very good agents.
A box of cabbage can pass the state real estate licensing exam. the barrier to entry into the industry is abysmally low.
I saw a P&S agreement from eastern Washington where it didn’t have an address, legal description, or description of the yet to be built house, but it had a price! Oh, and once the builder showed you the plans, you gave up 10% of that price as a non-refundable fee.
The worst I’ve ever seen is someone who sold the wrong vacant lot 🙂 The buyer wanted the one next to it. Luckily it was the same owner and they fixed it after closing. Selling the wrong house is a little harder.
I saw an agent “sell” the wrong condo! Everybody was surprised.
Michael L: Yes, except a box of cabbage creates less gas than the average agent …
I have an escrow friend that would love to move to Seattle; she is in Beverly HIlls now. But she says your escrow fees (salarys) are quite a bit less than Los Angeles Escrow fees which run approximately $2.00 per thousand