John Meussner, #MortgageMadeEasy Fair Oaks, CA 484-680-4852 (Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI)

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Rainmaker
707,682
Lynnea Miller
Bend Premier Real Estate - Bend, OR
Premier Real Estate Service in Central Oregon

This seems illogical.  What starts poorly ends poorly we often say. 

Jan 27, 2021 03:18 PM
Ambassador
3,100,710
Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate (435) 632-9374 - St. George, UT
St. George Utah Area Residential Sales Agent

Uh, no. The answer is absolutely not! Agents need to breathe life back into the contract, with a signed commitment to extend and then GO!

Jan 27, 2021 05:00 PM
Rainmaker
503,895
Joseph Domino 480-390-6011
HomeSmart - Scottsdale, AZ
Real Estate Made Easy

Sounds like you inherited a deal that was falling out. Does working miracles appeal to you? You could be a hero. If you pull it off.

Jan 27, 2021 06:32 PM
Ambassador
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

Need more facts here.  "next to no notice"  "could not meet the closing date"

Define what you mean in this situation as "out of contract" 

In my mind, there is conflicting information here.  If the contract is not performed per the timeline and no extension granted - then it would not make much sense to work it without an extension.

Jan 27, 2021 05:02 PM
Ambassador
3,582,634
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

Sounds like somebody's lost a few screws regarding contract law.  Just get it back under contract (or not) and then move forward. Why would you do all the work for a basically worthless contract?

Jan 27, 2021 03:57 PM
Rainmaker
1,840,606
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

No, not if I were you. Collect all the fees now before it blows up. Seems like that's not the best way to do business.

Jan 27, 2021 03:23 PM
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Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Sometimes we work on trust and faith that others will get the needed extension, do you trust this agent to get it done?

Jan 28, 2021 01:56 AM
Rainmaker
1,499,068
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Sounds like lender 1 couldn't perform at the 11th hour and they had to switch lenders with a few days left.  Been there (thankfully had the listing).  Buyer paid a per-diem for the extension, loan broker screwed up and ended up paying it for them.  Took an extra two weeks.  Sometimes what the buyer side is needs to be able to say before asking for an extension is "It's with a new lender and they're working as hard as they can to make it happen"

Jan 27, 2021 10:37 PM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

 Get the parties to sign an extension.   If they don't, then no I wouldn't spend any time on it.

Jan 27, 2021 06:49 PM
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Chris Ann Cleland
Long and Foster Real Estate - Gainesville, VA
Associate Broker, Bristow, VA

Hmm.  That's certainly a rough situation for a lender, but I have certainly put a lender in that situation myself as a listing agent.  Of course, in so doing, the seller knew we would have to extend closing.  It was a matter of deal or no deal.

Jan 27, 2021 04:26 PM
Rainmaker
691,947
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I help clients all the time without a contract.  For me, it helps build good will.  I have never had a client working with me, for example, getting their home ready to list, and then not use me as the listing agent.  In fact, the last time I did it, when it came time to talk commissions, my clients both sat back and said, "that is not enough."  I didn't follow their generous advise, but I have clients that will be my advocate for years.

Jan 28, 2021 06:02 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

The question, 'Would you expect someont to work on a dal that's not under contract?"
My answer is, "IT is done ALL THE TIME."
Now we need to create clarity regarding "work on a deal."
However, threats and ultimatiums typicly result in the backup getting a chance to grab at the gold ring.
Protecting the homeowner who hired a REALTOR often requires courage and a bit of non-conformance.

Jan 28, 2021 05:57 AM
Rainmaker
5,096,666
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

No... you can't misrepresent what you can or can't do. As a buyer's agent I wouldn't pin hopes on anything a seller might or might not agree to in future.

Jan 28, 2021 05:54 AM
Rainmaker
849,841
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Our job is to manage the expectations and, as you've noted, this isn't reasonable.  If you support it and "just go with it", you'll be the one criticized in the end and your sellers will be super frustrated. Stay strong! 

Jan 28, 2021 04:58 AM
Rainmaker
1,153,744
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

"Someone" might John, not me.

Jan 28, 2021 04:01 AM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

Kind of vauge on circumstances, if there is a way to continue working a deal with a positive outcome for my client I would continue with caution and be ready with another plan of action.

Jan 27, 2021 06:51 PM
Rainmaker
803,039
Steve Higgins
RE/MAX Kelowna - Kelowna, BC

Your question is vague, pretty hard to answer without all the facts.

Jan 27, 2021 06:23 PM
Rainmaker
1,047,335
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Noooooo! Get the extension so the critical dates can be met . . . lack of planning on their part does not constitute emergency or futility on yours! And banking on the possibility of an extension is like falling in love with someone's potential. LOL

Jan 28, 2021 07:56 AM
Rainmaker
3,415,644
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

I will tell you i am seeing this more and more. Buyer agents trying to get their buyers offer accepted by putting a quick closing and they are no where able to close that quick. As a listing agent i try to catch that. When i have a buyer and see other listing agents getting taken, it is a lack of expereince that hurts their sellers

Jan 28, 2021 05:55 AM
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I have and I probably will again.  Generally if a timeline can be given parties will sign an extension, but sometimes you gotta "see where you are" before you know where the end is to give people an educated answer.  So would I continue on and on with no contract, nope, but would I do enough to get the answers for a true timeline,  you bet I would.

Jan 27, 2021 09:10 PM
Rainmaker
1,297,196
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

I closed a purchase last week. The lender did not meet the original date so we extended, John Meussner 

I have a close set for the 1st that was supposed to close last week...again...lender problem.

Yes, I think you should work on the transaction. However, after reading your additional comments, it appears that is more drama involved than just a date problem.

Jan 28, 2021 12:37 PM
Rainmaker
2,776,431
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I make exceptions to every rule if found to be reasonable & prudent to do so

Jan 28, 2021 10:43 AM
Rainmaker
909,068
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

If sellers can't meet the closing date, counter. No sense in agreeing to something that you know won't happen.

Jan 28, 2021 03:59 PM
Rainer
415,047
Caroline Gerardo
Licensed in 20 states - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

I'll assume they went to their buddy/relative/newby/onlinelowball and it didn't work out? Here is what I would do: in email sent to listing agent, buyer's agent, buyer, title and gods of the deal: I can close this deal in fifteen days if buyer gives me xyz and seller lets appraiser in tomorrow morning before ten AM. Although your contract says you need to close in five days, I will not commit to that miracle.  Everyone must open email daily and respond in an hour. I communicate daily on our website for this deal and by email. You can look on the website and see every step we take- when we called hazard insurance agent, when we called the HOA... You may call me from 6 AM to 9 PM but if you are calling during 8-5 hours  you are take me away from the deal. I'm a wizard and a sweet handler of all paperwork, trust my team to carry you to the finish line.  I would not turn the deal away, everyone deserves my whole soulful effort to buy a home but expectations are set. I close a day before the time line and a little cheaper than I said.   Take pie when pie is passed, even if you don't like strawberry rhubarb.

Jan 28, 2021 03:51 PM