I have had several of my properties sold on auction websites, as well as have a ton of calls from buyers who bought a home through zilla etc. There is more to closing a transaction then just calling the title company to do the title work. Our work starts when we get an accepted offer. Who works with the loan officer to make sure they are on top of your loan and making them actually work on it instead of putting it on the bottom of their pile of work? Who actually checks the title work to make sure it was done correctly? Who make sure all of the paperwork is done propertys? Who make sure all inspections are done in the time frame alloted for them? Who answers the millions of quetions most buyers have? Our market is mostly a second home market and nearly every single buyer who bought on a auction site or used an online lender had problems after the closing and then called me to straighten them out. I told them to call the website and let them handle the problems, but of course they never get an answer from online sites. The most common error is that when checking the box on whether the buyer is going to occupy the property or not they check no because it is going to be used as a second home. Wrong answer. They should have answered yes because they do own the home no matter when they will be staying there. So by answering wrong it is assumed since they are not going to be occupying the property that it is going to be a rental property so now they have to fill out the DILHR paperwork and get an inspection done within a year and do all repairs to the property to make sure it is weatherized properly for the "renters". If this isn't done the buyers will not be able to sell the property in the future because this unfinished DILHR work will be recorded against the deed, and you can't sell a property without a clear title. This is just one of the mistakes that happen. So for the sellers, and others, who think we only list a property and then charge a commission have no idea all the work that goes into getting a property closed after the offer is accpeted. I know because I get about 40 calls a month from buyers asking for my help on a closing gone wrong off the "net".
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I have had several of my properties sold on auction websites, as well as have a ton of calls from buyers who bought a home through zilla etc. There is more to closing a transaction then just calling the title company to do the title work. Our work starts when we get an accepted offer. Who works with the loan officer to make sure they are on top of your loan and making them actually work on it instead of putting it on the bottom of their pile of work? Who actually checks the title work to make sure it was done correctly? Who make sure all of the paperwork is done propertys? Who make sure all inspections are done in the time frame alloted for them? Who answers the millions of quetions most buyers have? Our market is mostly a second home market and nearly every single buyer who bought on a auction site or used an online lender had problems after the closing and then called me to straighten them out. I told them to call the website and let them handle the problems, but of course they never get an answer from online sites. The most common error is that when checking the box on whether the buyer is going to occupy the property or not they check no because it is going to be used as a second home. Wrong answer. They should have answered yes because they do own the home no matter when they will be staying there. So by answering wrong it is assumed since they are not going to be occupying the property that it is going to be a rental property so now they have to fill out the DILHR paperwork and get an inspection done within a year and do all repairs to the property to make sure it is weatherized properly for the "renters". If this isn't done the buyers will not be able to sell the property in the future because this unfinished DILHR work will be recorded against the deed, and you can't sell a property without a clear title. This is just one of the mistakes that happen. So for the sellers, and others, who think we only list a property and then charge a commission have no idea all the work that goes into getting a property closed after the offer is accpeted. I know because I get about 40 calls a month from buyers asking for my help on a closing gone wrong off the "net".