Today I wrote a letter to Senator Murray
Last month I wrote up a real estate purchase and sales agreement for a home that was on its way to auction. I had a very strong buyer and no contingencies. After three weeks, the current lien holder still had not decided if they would allow the sellers to sell their home or not and my buyers walked.
The sellers were hurt, their home was off the market for three weeks. The listing agent and myself were hurt because after working hard for three weeks to get this done, we will not get paid. The new lender who got financing lined up will not get paid and it is unclear if the appraiser will get paid or not.
Their are no restrictions on these lien holders that helped to cause this housing crises, they can take as long as they like to give the seller permission to sell their home. While they take their time, they continue to add more and more fees to the already struggling sellers.
I have asked Senator Murray to take a look at this unfair practice and to please come to the table for the sellers and the people in our industry.
The lien holders say they are swamped with purchase and sales agreements but I have done many in the past and it ALWAYS takes them a long time to answer. If they are swamped why not hire more people. Why penalize the seller while the lien holders continue to thrive.
If you want to get on this band wagon please e mail Senator Murray at 'Senator@murray.senate.gov'

