Dual Agent


I am selling my brownstone in brooklyn currently. I have more than one bid on the house. One of the bidders has a buyers agent but the other does not. My broker tried to convince me to sign a dual agency agreement by implying I needed it for her to continue on the deal with the buyer who had no agent. When i showed the agreement to a lawyer they advised me against signing it. When the agent was confronted she backed off but I am now very nervous about her. I don’t trust her to negotiate on my behalf or that she is telling me everything she knows about the buyers. I feel its too far in the process to try to get another agent. What if anything can I do to ensure that she is keeping me informed of everything or that she is negotiating properly for me? Has anyone been in this situation?

TIA

Categories: Brokers
By mittens7922 | 02/11/2010 3:00 PM | Comment

Appraisal Question


Due to the drop in interest rates for conforming loans my husband and i want to refinance our mortgage on our brownstone. We have stellar credit and plenty of income to show but the problem we face is that we are currently in the midst of renovating our house. (doing one kitchen and one bathroom DIY). I was told by my bank that under fannie mae guidelines they can’t give us a conforming loan (the balance of our mortgage is just under the conforming limits for a 2 family) if the property has defects that cost 10k or more to cure. Our plan right now is to finish our bathroom (which should take about 2 weeks) and instead of trying to finish the kitchen just put up some sheet rock and maybe prime it. Logically this should work but does anyone know if in reality that will be enough? I guess the question is what state does a house need to be in to pass an appraisal done for a conforming loan? Any thought?

Categories: Appraisals
By mittens7922 | 01/24/2008 11:32 AM | Comment