Can I fire my realtor at this point?

Question

I have a really crummy realtor. He didn't point out any houses to me, I had to find them all, then ask to be shown them. He didn't really answer our questions very well. He took a long time to return our calls, and when he did, we got a lot of double talk.

Unfortunately, we didn't really figure all this out until AFTER we made an offer and it was accepted. We are at the point where we need to get a home inspection done and send back our loan package.

One of the many lies our realtor told us was that we wouldn't have to make our first mortgage payment until October 1st. When we got our loan package, it showed our closing date as July 31st and our first payment due on September 1st. This means we will be paying our last month of rent, our first mortgage payment, down payment, and closing costs all at the same time (we can't afford that!)! We were relying on the assumption that, by telling him when our lease ended and when we wanted to move, he'd choose a closing date that satisfied that.

Answer 1

Maybe you can go to him or his boss (maybe a company he is associated with) and negotiate a reasonable deal.  

Be careful about complaining abouty every little thing, some may be your own fault. You will want to weed these complaints out. You will sound like you are trying to get something for nothing.

You mortgage payment question, for example, should have been asked to you loan offficer.

Answer 2

Read your contract.  This is the document you signed that you have to follow.  Also in the contract is what his obligations are.  If he is not living up to his end of the contract, then you have grounds to get out of it.

Answer 3

Your Realtor doesn't control your financing unless he had set you up with a mortgage company that he was connected with - so I am not sure why he would make that claim about the first payment.

That being said, your question was can you fire your realtor. Yes, you can. You are not committed to this realtor. Unless he is a broker, he will not get paid by the sale of this property. His broker will. You can complain to the realtors broker about the way you were mislead about the property, and the fact that you don't want this realtor to receive the commission, or that you want another realtor assigned to this case.

You are not committed to the offer either. There is normally an inspection period in which you can back out of an offer for any fault you find in the property. Also, you can normally back out do to financing. Read your contract and find out what is stated under "early termination" clause.

If you are committed to buying this property, then talk to the sellers about extending the closing date so that it will meet your needs. Its an easy one page form to make this happen.