Quote:
Originally Posted by Randall55
Sorry to point this out.You must not have been a good buyer's agent if you allowed $4,000,000 of your client's money to be embezzled. How did the closing agent know he had that kind of money? How did they gain access? It was your responsibility to make certain that information was not divulged.
I am only a contractor. When I deal with a buyer direct, I remind him not to share his financial situation. Even with me! As the seller, I only need a letter from a financial institution that states the buyer has the funds.
IMHO, real estate transactions go bad because the buyers agent is not equipped to handle or give advice on situations. Does a buyers agent see a problem with a home BEFORE the home inspection? Do they see a possible termite infestation? Can they handle changes that need to be made in contracts? etc.etc. No! They are ordinary salesmen.To state anything different is a lie. Your mishandling of your client's funds proves this point.
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My wife as a buyers agent finds issues with homes before inspection all the time. She knows what a house will be worth after renovations (for the flipper clients). She finds errors in the purchase and sale contracts that lawyers missed more than you could imagine. She knows the loan limits for VA or FHA loans. She knows what lenders are good and which ones will have crazy requirements. She makes sure contract dates are met so the buyer doesn’t lose their deposit. So yeah.