Why real estate agreements fall through

Posted by on Tuesday, August 8th, 2017 at 12:09pm.

Marketing your home, finding the buyer, and negotiating a satisfying price and terms are the preliminary tasks before getting down to the real work of putting a SOLD sign in your front yard.

Unless we've located a rare cash buyer who wants to close without inspections or an appraisal, the next steps will determine the outcome. Unfortunately, this is where inexperienced or unprofessional real estate agents drop the ball. They wrongly assume that the buyer's agent, lender, and title company will attend to the details.

One of the first hurdles comes with the inspection. As your agent, I will have advised you to set a limit on repairs in the purchase and sale agreement. But sometimes inspectors find something unexpected and buyers want it fixed, even though it costs more than the agreed amount. I'll be at your side, helping you hold the transaction together as you negotiate.

Title issues can also appear, and if they aren't handled quickly and efficiently, the transaction will fall through. Left to lenders and title agents, these issues spell death to your sale. My work on your behalf could involve everything from tracking down unrecorded documents to getting new signatures on a corrected deed that was originally executed 15 years ago. Until we read the title insurance commitment, we never know what it might reveal.

Occasionally, buyer loan issues crop up, and can be solved through further negotiations. But if you don't have a strong agent on your side, the transaction will simply fail.

Even after the agreement is signed, buyers and sellers should not communicate directly. Personality issues, frayed nerves, and anxiety can create animosity that causes one party to terminate the agreement. I'll continue to act as your buffer, preventing high emotions from destroying your plans, and preventing mistakes that can come back to haunt you.

If you want to get together later and create a friendship, that's good. But now, with the closing of your home at risk, is not the time.

When I list your house for sale, I work for you from that day until we sign the final closing papers and the money is headed toward your bank. I'll be there at every step to answer your questions, address your concerns, and advise you through the sometimes confusing and frustrating process of selling your home.

We can't start until we get acquainted, so why not call me today?

Looking forward to our meeting.

P.S. The second step is preparation of an up-to-date market analysis. I'll be glad to do that for you, with no obligation.

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