It ain’t closed til it’s closed!
Some might judge me as being a pessimistic naysayer . . . I’d rather be known as real and truthful.
In the current Real Estate Market climate, the unexpected seems to happen more than its fair share of the time.
The Buyer crafts a MAGNIFICENT offer with NO contingencies to close on the day of the seller’s choosing AND $25,000 ABOVE the lisintg price. She evens writes a very heartwarming letter to the seller all about how lovely the house is and how wonderful it will be for her to live there for years and raise her kids and and and . . .
SURELY this will be the winning offer.
Next morning . . . The seller’s agent calls with the news that . . . The Seller has accepted . . . another offer . . . that had “better terms.”
On the flip side, the seller is ecstatic to have the PERFECT contract. Elation runs rampant as reality sets in that the house sold for $30,000 OVER the listing price . . . AND they get to stay in the house until they find another house.
The home inspection happens . . . and the report isn’t good . . . Standing water and fungus in the crawl space, suspicion that the fance encroaches on the neighbors’ property (That MEAN Neighbor on the left), and the HVAC system will likely need to be replaced immediately, active termites, radon level is 18.3 . . . The good news is that the buyer still wants the house but only if the Seller agrees to reduce the purchase price $35,000.
These are real scenarios we REALTORS see play out more than we like. Unfortunately, we have LOTS of experience dealing with these things, and we have an “app” for just about any issue that surfaces during a transaction. These “apps” come in the form of a vast database of specialists from attorneys to contractors.
Based on all of the above – If you are in the mood to buy or sell a house, I have 2 STRONG recommendations:
- Hire a REALTOR to represent you EXCLUSIVELY with designated agency (This must be done with a WRITTEN agreement BEFORE any real estate services happen)
- Don’t count your chickens til they hatch
Of course, I would be remiss if I didn’t mention that if you are in Middle Tennessee, connecting with Pareto Realty will be a great start 🙂