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RE/MAX Affiliates
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It Ain't Over Until...
Dec 11, 2009 | 
You are Walking Away from the Closing Table with The Paycheck in Your Hand.
Yes, I know the phrase is "The Fat Lady Sings"; but, I find my saying a bit more applicable to what I do and a bit more socially acceptable.
I normally have used that phrase as a joke to make light of a really serious subject matter of the purchase contract; but, yesterday, that phrase became reality.
My client due to unforseen circumstances could not perform on a contract. It was pretty much an eleventh hour situation when everyone in the situation is feeling safe, comfortable, preparing to transfer the property, and CLOSE. This is a no win situation. Everyone gets hurt in this type of situation. There are varying degrees of hurt; but, everyone comes out of this with scars.
No matter how often you try to prepare clients (buyers or sellers) to the riggers of going through a contract; there are things that you cannot prepare people for until you face the situation head on. There is no way to sit down and run simulations and prep them on disaster and the ramifications.
I only hope that this blog will give prospective buyers and sellers the sense of the seriousness that entering into a contract really means. I do want to point out that there are outs in the contract and they are pointed out at the appropriate times as we are going through the process. Real Estate is a serious business and it involves many people so do not take lightly the decision to sell or buy a home. The decision to walk away is like looking at a bomb site with an epicenter and the rippling effects of the bomb radiating outward. No one within the circle of the bomb's radius is safe; but the difference are the people closest to the epicenter with the most to loose suffer the worst damage. It just not a pretty sight.
Picture from StockXpert.com.
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