Hey everyone,


Before I begin my story I am a pretty new agent so here is my story.I have a friend of mine who I have been talking to her forever about selling her home. When she got ready to sell her home she wanted to find a home first to buy but she wanted a contigency on her house selling which I advised against and told her MOST sellers would not go for that.
Of course she did not listen AND found a home by a builder in this area that is ready to move in. They decided to go ahead and purchase the home and Said they would list their home with me shortly after.
They signed the contract and the builders agent KNEW that I was to be listing their home soon.
Well the contract was CTG on their financing and SURPRISE SURPRISE THe mortgage company said that they must have proof of their home sold before they will finance them.
Builder was not willing to but a contigency on her house selling for purchase of their new home. He then proceeded to tell them about some OTHER real estate company that GUARANTEES they will sell their home by the time they move into the new home or they will purchase the home. IF she goes with these people the builder said they will put a contigency on the contract .
My question is this... If she goes with this realtor in selling her home is there anyway I can get at least a referral fee on her home??

Not unless your friend allows you to write a referral to the new agent.

Welcome to the wonderful world of real estate. Most builders are either married to an agent or use a family member to list. This is a real world lesson, the other agent will cut your throat if given half a chance.

Make sure your Sellers know that there are probably million conditions in the offer to ell it or buy it. I doubt the other real estate company will buy it for market value.

Have they tried to find a lender that deals with Bridge loans? Meaning that they will finance the new home with the conditions that they place the other home up for sale. The only drawback with that is if the home does not sell in 6 months or so, they will have to make both mortgage payments. I have someone here that also does Florida loans in this fashion. If you need their name just pop me an email, and I will forward it to you.

Hoe long before they need to close on the new home?

I'm in Jax too so there are some areas, price ranges that are a guaranteed sale in which case you could take the listing with no worries.

But yes, these "we will buy your house" companies will probably give your friends 85% of the list price (I may know which one you're talking about). If that's the case it may not net enough to put a downpayment or have enough money for closing costs (since most sellers use the equity for a downpayment, closing costs etc)

And yes, I would think you could get the name of the the "GUARANTEE" company & refer it to them for a referral fee.

Feel free to email me & we can discuss the companies involved. I may be able to better help you knowing which companies you are talking about.