Just some thoughts…part tres

Posted: March 28, 2008 in General
Tags: , ,

I learned a HUGE lesson today. I’m about to tell on myself.

Ok, so I received a contract from the listing agent. Per my normal routine, I went through the contract to see what was missing (something always is). I noticed that there were no HOA Addendums. The Buyer’s agent did his buyer a huge injustice and did not fill anything out. Our clients home was in a mandatory HOA – 3, in fact.

So I called the listing agent and let him know. He asked if I could draw up the forms in Zip Forms. AS A FAVOR I did so. I drew up the 3 forms and sent them to our seller. Our seller filled them out and then faxed them back to us. As soon as I received them I faxed them over to this other agent (Who was truly pathetic, by the way. He scheduled his buyers to close a day after the contractual closing date. When I brought this up to him, he says “Oh, well I thought it was supposed to be that day. My buyers won’t be in town until that day.” Unbelievable! But I digress…).

After a week passed, I realized that I had no HOA Addendum back. And, as you all know, KW won’t give us the DA without all the necessary forms. So I called this other agent who should be selling movies at Blockbuster instead of houses for trusting clients.

Nooooooooooooo He informs me that he’s not going to give us the forms until we deliver the HOA docs. I couldn’t believe it. After I explained to him what good real estate was, and what it was to be fiduciary, he said he would send the forms over. I got one.

After another few days I called him back. He lied and said he would send them. He didn’t. I called back later that day. He wouldn’t answer. Suddenly, a few days before closing, I get a call from his “assistant” asking me where the HOA docs were. I explained to her the whole situation and then, rudely, she says, “We already sent you those forms sir.” I politely informed her that she did not, and neither did el stupido agent. After doing a minute or two of research she got back on the phone and apologize for having to assist el stupido. She informed that she would send the addendums over immediately. She did. All is well…not!

Ok…and? Ok, so the day of closing I get a call from the Title Company. I love the girls there. They are super sweet. They like me too because I make their job easier and I make them laugh. I’m really an amazing…dork. So, they say to me, “Dustin, the buyers agent is asking why the transfer fee is on the buyers side on the HUD.” I sit at my desk with a look like what you see above. I say, “Because the transfer fee is always on the buyers side. Our Seller paid for the hidden management fees AND the resale docs.” Which we all know is pretty much a kids college fund.

So then my agent, the listing agent, calls me and says that the buyers agent is throwing a fit about the transfer fee. I ask him if he negotiated the transfer fee when they negotiated the contract. He pointed out that this really was a moot point since in the HOA Addendum I DID NOT put the transfer fee being paid by the buyer.

Oh Lord, please give me strength This was me at my desk. Had I had one of those punching bags that went to the floor and then bounced back up, I would have destroyed it. As angry as I was, the listing agent was right. So what needed to happen? In my opinion (as much as I hated it) I needed to eat that cost. So that’s what I decided to do.

Guess what the cost was – $436. No, you didn’t see that wrong.

Lesson learned!

Dustin Curlee

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Comments
  1. don santucci says:

    Dustin,
    If it was the bald guy, don’t blame him, he’s an AGGIE ya know(LOL)

  2. Renee Rogers says:

    Dustin,
    I know it was a hard lesson, however I had know doubt YOU would to the RIGHT thing. Just know SUSIE is singing your good deed toour KING of KINGS..
    LUV RR

  3. I bet you wont make that mistake again! =)
    Trent

  4. Dustin Curlee says:

    Yes, it was a hard lesson that I won’t make again. I have a feeling that I’ll lose my car before I ever forget that stupid transfer fee.

    Want to know the real irony in the whole thing? Jennifer teaches this very thing in her Sold to Close class. Maybe I need to take it.

    Dustin…

  5. Mary Solis says:

    The HOA management companies are taking big advantage of both parties (sellers and buyers) at the time of closing . They would come up with the “$500.00 enhancement fee or $200.00 one time fee at closing “. What I’ve learned is to include the total amount of the transfer fee plus the hidden fees in all our listings and make the buyer’s agent aware of it when the offer is made.

  6. Dustin Curlee says:

    Mary,

    You are correct. You should read the blog I wrote last week (I think) on the one off of Stone Oak. Hank and some others have approached NAR about this. They are ripping off clients left and right. It’s, literally, robbery.

    Dustin…

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