After the Purchase Agreement is Signed,
But Before Closing

Loose lips may not sink (housing) ships — but they can cost a Seller money.

That’s especially true if their home’s ultimate sales price was lips(well) below the last asking (list) price, and the deal subsequently doesn’t close.

Funny how, in that rare-but-unhappy scenario, the discounted price effectively becomes the ceiling on what the Seller is likely to fetch from a subsequent Buyer.

Less is More; Quiet Period

Which is why my standard counsel to Sellers whose home is “Pending” (under contract and past inspection but not yet closed) is to be circumspect with their friends and neighbors.

So, I usually suggest some variation of the following:  ‘our home’s under contract, and everything looks good, but the closing is still 3 weeks away.’


Meanwhile, what should their Realtor say to anyone who inquires about the sales price, pre-closing?

That one’s easy:  nothing.

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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