Complications at Closing and How to Avoid Them
Complications at Closing (And How to Avoid Them)
June 7, 2017
You know the saying, “What can go wrong, will?” Well real estate closings can be a lot like that. There’s a lot of moving parts to buying and selling a home. Complications can arise from any number of things. For example, last minute financing, inspection or legal concerns can all hold up and even put a stop to closing on your new home or the home you’re selling.
Here’s an example of a situation we were faced with not long ago.
During an estate sale, in which the home owner had already moved into assisted living, we had to take care of some household chores. You see, great agents aren’t afraid to get their hands a little dirty in order to help get a home in tip top shape so that it sells. We rolled up our sleeves and took care of some vacuuming and extermination projects that were necessary. We also removed some items from the home on behalf of the seller. These tasks fell on us because we wanted to get the home sold as quickly as possible and because we were raised to always respect and help out our elders!
But that’s not all. Prior to closing it was discovered a small portion of the home wasn’t completely within the property boundaries. Again, a true professional will have a network or a team of other professionals they can call on for help. In this case, we called a surveyor out to the home. He was able to redraw the property line so that it extended an extra 15 feet on the back side of the home. Problem solved.
But. As you may have guessed. That’s not all! Just a mere four hours prior to closing, it was discovered one of the items on the home inspection had been missed. Again, we called upon our trusted network of professionals and we were able to get an electrician out to the property and we ended up closing on time!
Later, we got this voicemail from the buyer’s agent. “I just wanted to thank you for the deal [that just] went through…Frankly, I just didn’t think it was going to happen and I’m amazed that you could get it done. Thanks very much, I think you did a great job and I hope to work with you again.”
Real estate can be tricky business. There’s a number of reasons a transaction may fall through. Don’t let an inexperienced agent be the cause. You can lessen your chances for catastrophe by partnering with professional, dedicated agents who work around the clock to make closings happen.