I have been guilty of making a deal seem easy. I've had clients claim they would like to go into real estate because it looks so easy. Most times, I am a skilled troubleshooter that keeps a cool head in a sticky situation.
As agents well know, there is a lot of turmoil that goes on behind the scenes. You have to be quick on your feet to come up with a plan when all hell breaks loose.
Things need to look calm on the surface to keep the contract alive.
On a recent deal, the appraiser needed to come back to see if a door frame and deck had been painted.
There had been a bit of flaky paint here and there. It was an FHA loan.
The seller's agent and I figured out a way to get a painter to paint it fast and both parties divide the costs.
All seemed fine after that until the final walk through.
An hour before closing, I met with the buyers to see if everything was finished.
As I flipped on some of the lights, I could see that not all would turn on, the heat pump was acting strange and nothing in the kitchen and master bath turned on. The garbage disposal was supposed to have been newly installed and that wouldn't turn on at all.
I called the seller's agent and he stopped by. He couldn't figure it out either. We actually thought that lighting had hit the house the night before. Everything was fine in the fuse box. No circuit breakers turned off.
As we went over to meet the attorney for closing, a last minute plan was to hold all the checks until the seller could make things right. It was too late to escrow funds for repairs.
All papers were signed and by the next day it was discovered that the electric company was at fault. The seller had put in an order to turn off the electric too soon and they had not correctly turned it completely off. Some juice was still flowing to the house.
I was blessed to have buyer clients that were so patient and understanding. The lender and title attorney were seasoned pros that kept everyone calm. The seller and his agent were helpful and willing to see that everything would be taken care of.
It's not always this way. We deal with personalities, egos and crazy situations. Every deal is different. Not every deal makes it to a successful closing. Sometimes, I just feel lucky to be alive at the end.
Right after it's over, it's time to start all over again with a new client. The thrill of a new deal keeps me going.
Lizette Fitzpatrick - Principal Broker at Lizette Realty.
859.979.2834
For more information on Kentucky Horse Farms, Richmond and Lexington KY real estate click on Lizette.us.
Copyright © 2010 By Lizette Fitzpatrick, All Rights Reserved
*Miracles That Happen To Keep A Deal A Deal*
Great job! It sounds like you kept your cool throughout the most hair raising part of it all.....
Lizette:
Just when you think you have seen everything... There are so many things that can derail a closing. They are certainly not all within our control. It is good to work with cool heads who exercise patience under these circumstances.
Dagney - It was freaky for awhile there to figure out how to keep my buyers protected and still let them get the house on time.
Claudette - Isn't that the truth!! ANYTHING can happen and it does!
Lizette - Only if people really knew what went on behind the scenes. I've often told clients the hard part doesn't start until we're under contract, which most of them think the hard part is finding the house or finding a buyer, that's the easy part.
Michelle - You are so right. Driving around and touring houses is pretty easy. All the hidden defects, inspections, financing, repairs (or lack of),etc. can kill a deal quick.
Lizette,
Sounds like you handle situations wisely. To keep all the deals alive, it seems to zap your energy over time. I'm always trying to balance these tensions.
here is a lot we do fr buyers and sellers that we help that too many other do not know about. Great Job.
HI Lizette
No matter how long you've been in the business, you never know when and what will arise. Keeping a check list of past experiences like this added to your list will alleviate some of the stress that can come with the territory.Not enough to notify parties to turn the electric off, we now add the date this should take place...new entry, new column.
A strong team in place makes the challenge more rewarding. Congrats
It always seems like each new day brings a new situation or development, but you take it on like the pro you are. More fuel for a book. :)