Uptick in Pre-Signings

Historically, the closing was when Buyers and Sellers put aside any hard feelings from their long-concluded sales negotiation, and wished each other well (and the Seller explained to the Buyer how that tricky basement light switch worked, amongst other things).

Is that tradition a casualty of today’s more contentious housing market?

The uptick in pre-signings — confirmed by several closers I work with — could certainly be evidence of that.

Multiple Explanations

Buyers and Sellers pre-sign — and therefore skip the closing — for all kinds of reasons: conflicting business appointments; long-planned vacations; day care issues; medical problems, etc.

Another big reason that many Sellers in particular pre-sign is that they have already moved out of state ” no doubt because their houses are taking longer to sell.

However, anecdotally, most active Realtors can report at least one or two closings recently where one (or both) of the parties absented themselves because of residual bad blood.

Closings and Closure

Which is too bad, in my opinion.

That’s because it’s preferable for Sellers who are moving on, to really move on.

Meanwhile, it’s always nice to see incoming Buyers feel good about the home that they’re about to occupy, hopefully, for years to come, and to receive their Sellers’ good wishes.

Fortunately, the vast majority of closings are still like that.

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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