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#239525 - 07/22/08 06:52 PM No C.O. foreclosed property
smiling jack Offline
Member

Registered: 02/07/08
Posts: 77
Loc: georgia
made an offer that was accepted on a property with no CO. I found out when I tried to get the info to have the electric meter installed. I terminated the contract as I can't get it financed with out a CO.
The lsiting agent is about as nasty as he can get. Not once have they confirmed receipt of anything, not one realtor courtesy what so ever from the begining.
Now they are really pissed...they can't believe there is no CO. The city attorney told me if they sold it to anyone, they better disclose and who ever buys it is going to get evicted. with out one.
It was built in 2006 and sold in 2006 with a mortgage. It was foreclosed on in 2007.
Best I can figure, they operated off a temporary power hookup.
The owner, LASALLE bank is evidently going after the title co.
Why in the heck don't they just go and get a C.O.
My client has inspected it and wants it if they would get one.
Why is the listing agent's attitude such a pain? I just did my job and now he has to do his.
Actually, I have never spoken to this person; he has an assistant who does not let agents talk to him. He only speaks to brokers. My broker is about to fry his but for being a jerk because we also found out they had been summoned regarding the yard maintenance and at that time they were told it did not have a C.O.
I will PM you his name if you know him, stay the heck away from him. He is absolutely a problem and just looking to make a fast buck no matter who he hurts.

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#239590 - 07/23/08 12:58 AM Re: No C.O. foreclosed property [Re: smiling jack]
super realtor Offline
Major Contributor

Registered: 05/01/05
Posts: 5330
Loc: georgia
Well obviously the bank doesn't want to incure more costs.

There will be alot of finger pointing. I say just move on it's not worth it.

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#245551 - 08/21/08 12:22 PM Re: No C.O. foreclosed property [Re: super realtor]
Ryan O'Neill Offline
Member

Registered: 06/16/08
Posts: 100
Loc: Minneapolis, Minnesota
Smiling Jack...thanks so much for your post. Yes, there is no doubt whatsoever that these bank owned transactions can often be extremely complicated and a pain. Our team here in Minnesota has also found that most of the top REO listing agents are overly swamped with their hundreds of MLS listings on the market...

I do agree with Super Realtor. That is the voice of experience there I can tell. It may make the most sense to just move on and call it a day. The joys of being a real estate agent some days!?! Hang in there!
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