Hi Everyone,
I live in a city where I am using a state backed program for first time homeowners. Working with my realtor, I found a condo I thought I liked. We put in an offer and it was accepted.
Immediately after, I felt I had made a mistake. The location I live in provides 15 days from the time of a contract being ratified on a new condo building for the buyer to back out scott free. This is known as the condo doc review period.
I expressed concerns to my realtor, who I have regretted using ever since the contract was ratified. The first hiccup was him not disclosing to me that he had done transactions involving the loan program I am using. I asked a question, he didn't respond. I find out he has contacted the lender to get the lender to answer and I only found out because the lender told me.
I expressed my concerns on the condo and said I wanted to see other units.
He kept discouraging me from looking at other properties while locked in on this one and when I pushed back on repairs I wanted to have done on a new construction (all cosmetic due to sloppy worksmanship) my realtor pushed back. I told him "Tell them to accept all repairs or i'll back out using the condo doc review period as reasoning."
He tried to convince me I couldn't do this. I read the lines to him where it said I could back out and he said "Oh, yeah you can until x date." Everyone kept encouraging me to just keep going. Regardless of how I felt in this. I genuinely am not comfortable living in the place and don't want it at this point. My threat ended up being the only way to get the seller to agree to my repairs, as they have been having trouble selling units in the building.
Today, I find out the realtor isn't even coming to my final inspection. Another realtor on his team is because he "is out of town." However, I am not even sure we should have the final inspection.
The real estate contract addendum for the program I am using has a clause stating that if I do not secure a loan, including the loan for the program I am doing, the contract is void and I get my deposit back. This was signed by both myself and the seller as a get out of jail free card that the government requires.
My closing date is supposed to be May 6. The government loan program has not yet cleared, despire my lender calling multiple times a day to get it pushed through. Given my feelings and not even wanting the place at this point, I am debating calling the government office that handles this loan and sabotaging my own mortgage by saying that I think my assets are not being accurately represented by the lender. In turn, this would easily delay the transaction and prevent me from securing financing, prevent me from closing on the 6th of May and would allow me to void the deal (I would just decline to ask for an extension).
Thoughts on this? Dual agency was involved and this whole transaction feels like a cabal to me.
Program Realty 