Resetting status and releasing NACA realtor

Home Forums Purchase Program Resetting status and releasing NACA realtor

Viewing 6 posts - 1 through 6 (of 6 total)
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  • #67499
    marvb
    Participant

    How’s it going everyone blessings and prayers to you guys process no matter the phase you are in. We received the clear to close a little late and lost the house we were under contract for. We will not be defeated will get back to drawing board and continue to find our dream home.

    What’s the process on resetting our status as well as severing ties with our NACA realtor?

    Thanks in advance

    #67500
    Nelsont
    Member

    You probably will not reset your status. It will take a new contract to be uploaded and start the credit access over again (and based on my experience of needing to back out of a contract due to the seller not disclosing he was under foreclosure even to the listing agent this will cause a little bit of confusion at first but can be cleared up with a LOE).

    As far as releasing your agent it should be the same as any agent. Just tell them you don’t want to work with them anymore. You likely signed an exclusive rights form. You just need to sign the release.

    #67501
    marvb
    Participant

    @nelsont Thanks! your a god send to this forum continue what you do fraternally thankful.

    #67535
    MovingInMass
    Participant

    Hi, MarvB,

    We also lost a house, though not at that stage. We thought we had to wait to look again. That wasn’t so — we could have kept looking. But when it came to going into Credit Access again, we DID have to provide a release from the original seller’s agent, acknowledging that there was no outstanding agreement between us. So I would make sure that I get that from the seller’s agent before too much time has passed — and if you get back your earnest money deposit (I hope!), document that as well. Depending on when you go into Credit Access again, that documentation could be required.

    Best of luck on the new search!

    #67547
    marvb
    Participant

    @MovinginMass Thanks! Im starting back up trying this again blessing to you and your process.

    #67553
    djcwill09
    Member

    @marvb, good luck! Hope you find another property and you get your EMD back without having to go through court.

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