Q: I am under contract on a foreclosure and can’t get in contact with the listing agent, and I need to close soon to receive the tax credit. My agent has been unable to talk to the listing agent since the contract was submitted. What can I do?
Per the contract, I had seven days to conduct an inspection. The bank (or listing agent — whoever was responsible) never turned on the utilities, and there are some obvious electric, HVAC and plumbing issues that we need to have inspected. We filed an addendum to extend the inspection date for seven more days, because the utilities were not on, but never received any word back from the listing agent.
We believe that the listing agent is withholding information from the bank or simply not submitting our paperwork to the bank in a timely order. We have notified the listing agent’s broker-in-charge (BIC) once about his failure to respond to us (in a timely manner), and that magically got our offer accepted.