Pre-Closing Jitters First, a caveat (actually, two): 1) most residential real estate deals close on time with no — or small — last-minute issues; 2) good agents proactively work to anticipate and resolve any such issues. That said, you still worry — albeit Sellers typically more than Buyers, especially in today’s housing market and economy. One potential...Read More
Avoiding Cliches What do you tell a client who just sold their home, but pre-signed the closing documents and therefore wasn’t at closing to collect their proceeds check? Unfortunately, it just doesn’t sound right to tell someone that “their check is in the mail.” Instead, I told them that “Edina Title had mailed the check and...Read More
Every field has its most and least favorite activities. As a Realtor with a decade of experience, here are mine: Agent Favorites –Closings (Yeah!!). –Getting a call from a former client who relocated elsewhere but who’s passing through town. –Hosting a Broker Open (the first time). –Multiple offers (representing the Seller). –Full-price offers with hefty downpayments...Read More
Deal Hurdles and “Closing Clean-Up” The last couple deals I’ve handled, it’s been a challenge getting everyone on the same page. Strong personalities? Sure. Market conditions? Absolutely. But I actually meant logistics: it’s been a challenge lately getting all the parties to the transaction on the same page — literally. Deal Logistics That’s the case...Read More
Contrary to popular perception, cash deals are not without their perils for Sellers. Issue #1? (and #2 and #3): Where is the Buyer’s cash parked — and will it still be there at closing? However, assuming that the Buyer’s proof of funds is from a reputable bank or broker, and the Buyer doesn’t suffer any sudden...Read More
Pre-Closing Clean-Up — or, “Can’t Get No (Mortgage) Satisfaction” It could just be a consequence of handling more estate sales lately, but it does seem that I — and my clients’ closers — have been running into more issues with what I’ll call “financial ghosts.” The typical scenario involves a sale being handled by the (adult) surviving...Read More
