AboutDennis Herman Expertise I can answer questions on Real Estate such as question on writing an Offer to Purchase. What can go wrong after an offer is written? What is Buyer Agency and what will it do for me? What is a foreclosure? What is the difference between a foreclosure, a bank owned property and a short sale? What is the best way to locate a property? What steps can be taken to avoid foreclosure? How do Real Estate Agents get paid? How can I quickly build equity in a home? How do I view homes? What types of homes will have the best prices? How do I choose an agent? What types of financing are available?
Experience Residential and commercial real estate. New home purchases. Buyer Agency. First time home buyers. Foreclosures, bank owned properties, estate sales and short sales.
Organizations Greater Milwaukee Realtors Association
Wisconsin Realtors Association
National Association of Realtors
Publications http://activerain.com/bloghome
Education/Credentials State of Wisconsin Licensed Real Estate Sales Agent
Accredited Buyer Agency Training
Relocation Training
Certified Senior Citizen Representative
Wisconsin Real Estate Continuing Education
Question I am ready to close, loan docs (80/20 loan) signed with lock exp in 9 days. But their is a hold up, 3 weeks ago a very large tree fell over onto the neighbor's property. My realtor and i issued an addendum requiring seller to take full responsability for clean-up, repairs and liabilities...No action, other than their realtor saying they are taking care of it. They have not signed the adendum and We keep naging her, but get push back, 'Banks take a long time' My lender wrote a letter expressing concern as well as the crucial time line constraints. We extended the close of escrow 1 week and of course if nothing happens, I can write an addendum requesting the purchase price be adjusted to compensate me for the change to my interest rates due to the delay on their part. But so far I am guessing their answer will be No if i get to that, and I will be angry, but not likely enough to walk away from a good deal. It is very agrivating. I obviously want the house, it is unique in that it is on the water with a boat dock (not common). I will not buy the home without a release of liability from the tree, but i can't even seem to get that. Don't they want to get rid of the house? This is the third time in Escrow and I am paying 20K over the asking price already. I am on the verge of writing e-mails to the selling agent, her broker, anyone associated with her, the bank or at least any contacts i can get, including the president, etc etc. What if anything do i have as leverage or can i use to push things along. Any advice you can provide is appreciated.
Answer The State of Wisconsin has standard provisions in the fine print on the back pages of the option to purchase to cover damage between the offer and the closing. It basically says.
If the damage is less than 5% of the purchase price, the seller takes care of the cost of the damage. If more than 5% the insurance company covers the cost.
The contract will explain what the proper steps to follow.
If your agent can not explain this, try calling the office manager for help.
