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).

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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