Putting the cart before the horse never seemed to work very well on the farm.
Once the horses are out of the barn, closing the doors is pointless.
After the cat’s out of the bag, there’s NO WAY you’ll get’m back in there.
When the contract is binding, it says what it says . . .
It’s too late to renegotiate with after-thoughts and 20/20 Hindsight.
You can’t dismiss what’s in writing by saying: “What I meant it to say was . . . ”
It doesn’t say that and WON’T unless all parties to the contract agree to an amendment.
This is the 2nd post I’ve written on this topic for reasons that baffle me.
SMH (shaking my head)!
In the past 7 days, I’ve encountered a veritable avalanche of Faux Pas.
– Agent wrote in a 2 day inspection period but couldn’t get an inspector schedule until 5 days after the Binding agreement Date . . . . OOPS!
– Property has tenants whom the Buyer and Buyer’s agent MET – EVERYONE knew there were tenants in the property – agent submits offer with absolutely ZERO reference to the tenants and a 9 day closing . . . What they meant to say is that they do not want the tenants to stay – Really?
– Multiple offers – Very well defined “Rules” defined in an “Highest and Best Notification” . . . all Buyer agents were SURPRISED at every deadline.
We have a form for ANYTHING and EVERYTHING you want to do contractually.
If you goofed and didn’t give yourself enough time to get the inspection done, call the listing agent and have a conversation – Then prepare an “Amendment to the agreement” that says: “Buyer has 10 days to complete the inspection and present a release to the Seller”
Don’t EVER assume that ANYONE is going to be OK with changing ANY terms in the Binding Agreement . . . When you or your client screw up and miss an important detail, ask yourself the following questions:
What’s the problem?
What’s the contract say about this?
What are the possible solutions?
Which of those solutions is best for your client?
Which solution is most likely to be OK with the other party?
Put it in writing on an Amendment to the contract.
Present to the other agent with humility and compassion.
Don’t EVER confront ANYONE with a problem that you haven’t conjured up a couple of viable solutions to rectify.
Always always always be truthful and authentic, and don’t forget the goal . . .
CLOSING ON TIME!