Counseling Excitable Sellers
Especially after a flurry of initial showings, it’s easy for Sellers to get ahead of themselves, and assume that the sales process will be faster and simpler than it often is.
So, I like to remind my clients to expect a marathon, not a sprint, and that it’s a “done deal” when . . . they leave closing with a valid check for the sales proceeds, correctly calculated.
Or, in the case of Sellers who’ve already left town: the wire transfer is properly credited to their account.
Errant Wire Transfer
Task #1 on my “To Do” list this morning was tracing an errant wire transfer from a pre-Memorial Day (Friday) closing.
It turns out that that the other title company’s transmittal instructions correctly identified my client’s bank, but not their account.
As a result, the bank didn’t post the proceeds to their account until we caught the transposed digits this morning.
Not making matters any simpler: the two numbers showing that a wire transfer was properly sent — the reference number and the wire confirmation number — are each an alphabet soup combination of 20-plus letters and numbers.
P.S.: Want a slightly less conservative definition of a “done deal?”
It’s when the Buyer’s Inspection Contingency Addendum is removed.
At that point, that odds are something like 85% that the deal will go through (the remaining risks are the home appraising, and the Buyer’s credit passing final muster).