1,555,240
That's a violation of the contract #1 The seller could cancel for the breach...unless you got the change approved in advance by the seller?
Never heard of the bank #2
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Doug Dawes
Topsfield, MA
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Anthony Acosta - ALLAT...
Atlanta, GA
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Susie Kay
Plano, TX
-
Michael Jacobs
Pasadena, CA
-
Ryan Huggins - Thousan...
Thousand Oaks, CA
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Nina Hollander, Broker
Charlotte, NC
-
Thomas J. Nelson, REAL...
La Jolla, CA
1,598,452
Never had any experience with this one.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Valeria Mola
Sunny Isles Beach, FL
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
-
Susie Kay
Plano, TX
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
5,117,798
I have no experience whatsoever with Ally Bank. Sorry.
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Doug Dawes
Topsfield, MA
-
Anthony Acosta - ALLAT...
Atlanta, GA
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Susie Kay
Plano, TX
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Ron and Alexandra Seigel
Carpinteria, CA
4,584,821
No experience with this bank. Lessons are learned every day. Is this an example or are there others you can share?
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
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Susie Kay
Plano, TX
-
Bob "RealMan" Timm
Minot, ND
-
Dan & Laurie Pittsenba...
Bellingham, WA
-
Ron and Alexandra Seigel
Carpinteria, CA
-
Nina Hollander, Broker
Charlotte, NC
1,848,031
None whatsoever. They just arrived here in my Midwest area only recently. They started out as internet only I think.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Susie Kay
Plano, TX
-
Bob "RealMan" Timm
Minot, ND
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Michael Jacobs
Pasadena, CA
-
Dan & Laurie Pittsenba...
Bellingham, WA
1,326,634
I am going to disagree with Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
The California contract sets down terms for a loan that will be obtained by the buyer. It does not mention a specific lender and does not obligate a buyer to use a specific lender. Sure, the loan approval comes from a specific lender but there is no contractual obligation to use that lender.
Changing lenders in mid-transaction can cause other problems as it is in the scenario set out by Russell Dunn. Now, the buyer may not be able to close on time which could lead to a demand by the seller to close and possible cancellation of the contract.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Susie Kay
Plano, TX
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Dan & Laurie Pittsenba...
Bellingham, WA
6,426,300
Sorry to hear this, hope it all works out well.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Susie Kay
Plano, TX
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
1,728,967
No experience, but would apprecciate a follow-up on your experience. Good luck!
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Susie Kay
Plano, TX
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
4,908,528
Never heard of them. I don't think they are in my area.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Dan & Laurie Pittsenba...
Bellingham, WA
5,773,392
Russell,
No experience, but the members have chimed in and given you great answers.All the best to you. A
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Dan & Laurie Pittsenba...
Bellingham, WA
1,712,876
Never heard of them.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
-
Dan & Laurie Pittsenba...
Bellingham, WA
2,071,025
I don't know that bank
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Valeria Mola
Sunny Isles Beach, FL
-
Evelina Tsigelnitskaya
Sunny Isles Beach, FL
509,449
No experience with Ally Bank here.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Susie Kay
Plano, TX
2,403,621
I never used them as a Realtor Russell Dunn but I think I had one closing as a mobile notary years ago. I believe all went well.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Susie Kay
Plano, TX
2,074,080
I have no experience with Ally Bank, but if all they need is an add'l 5 days, consider yourself fortunate.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
-
Bob "RealMan" Timm
Minot, ND
1,507,123
I've never experienced Ally bank, though I've seen their commercials. In California the buyer would be in breach of the contract. As a listing agent I would advise my clients to:
- Give them the 5 days but charge them $1,000 or something equally significant for it.
- I'd also put in a per diem for any days past the new 5 days.
Per diems are possible, so long as they're disclosed to the lender ahead of time. Since it's doubtful a CD has gone out yet, you should still be able to make it happen.
I did have a situation last month where we ended up doing both the fee and the per diem.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
469,510
Again - not much help here with Ally Bank. But in general switching lenders mid stream here w/o seller approval would put the seller in the driver's seat. If I were the listing agent I would be asking for release of EM or possibly even an increase of em and it's release to the seller. I would want the buyer to "buy" his extension. Since he decided to change lenders to save himself a few bucks - the seller should get some gingle is his pocket for going along with the change.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Bob "RealMan" Timm
Minot, ND
-
Michael Jacobs
Pasadena, CA
2,222,281
I have not had any experience with Ally Bank.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Anthony Acosta - ALLAT...
Atlanta, GA
420,003
You likely are dealing with call center in Utah or North Carolina. I would ask the buyer to pay per dium for late close. Is the CD out yet?
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
-
Michael Jacobs
Pasadena, CA
5,063,430
No experience at all and haven't heard of them.
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Doug Dawes
Topsfield, MA
-
Debe Maxwell, CRS
Charlotte, NC
1,202,842
3,350,774
1,153,794
Only one Ally closing under my belt, nothing remarkable to note Russell.
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Doug Dawes
Topsfield, MA
5,259,106
I've had great outcomes with Ally - always Close on time, without a hitch. I would say it may be the loan officer or, perhaps, the delay in getting started on the loan?
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Doug Dawes
Topsfield, MA
5,247,573
They were not a factor when I was active, so no experience
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Doug Dawes
Topsfield, MA
5,879,936
4,968,149