Situations Change;we were supposed to close two weeks ago however, the situation changed at the last minute!
Everything ; was going along as planned( it was my buyer), and the afternoon before we were to close she was let go from the job she had, due to lack of work.
We, the Buyer and I , had had a tough time finding the property that fit her criteria. We had tough negotiations, and the Seller was an agent who was playing hard ball!
Being a First-Time Home-buyer; she had given notice at the apartment she was renting and had to be out within a week. We were in a Time Crunch situation.
Even though she could not Buy, (at the moment), we negotiated a Lease Purchase on the property, with the down payment going toward the sale when she closes. She has a year, but is hoping to close before the incentive runs out!
She is very Blessed, she got to move in the house she will buy and is looking for a job so she can Close before the end of November!
I had a Tough Close this week, I'm really thankful for the close! My client was great to work with! Let me just tell the story.
The Client, let's call her Gina, is a lady who actually knew where she wanted to live and we made an offer after seeing the condo twice. The offer was very straight-forward with no contingences, and no closing costs! It was easy negotiating it out and we got the price we wanted and they were supposed to have the close date they wanted!
However, we had a close date of the 29th of May, and they had over a month to get it ready to Close.
Gina, owns a house already, outright, and has a car, hardly any bills, and works. I don't know for sure but I would bet since she is widowed she has some Life Insurance money! The bank she was using for the Mortagage, was the one she banks at, and has a relationship with.
The week before the 29th, I was in contact with the mortagage person at the Bank and everything seemed to be in order, he gave me no cause for concern, that we would close on time. I spoke with him and the Title People the first of the week that the 29th fell in, and was not told anything about any delay for any reason.
As far as I know, the appraisal was done in a timely manner, and everything was in line!
THEN: The day of the 28th, I found out that the change of the Title Co. had not taken place and the first Title Co. had not been notified of the close that we were supposed to have there and were not ready for it, which, why would they be when I had told them we were changeing due to a request by the Buyer! I had even spoken to the other Title person also! Nobody, had the payoff, and it was with a mortagage co. none of us had ever heard of and was only contacted by FAX. Needless to say, we were frantic.
Believe it or Not, The payoff was received on the morning of the 29th, after a restless night on my part, they had pulled off a miracle!
The processor was informed, however, the title company was told that the close was not ready on their end because, get this, the Appraiser, had put a PUD appraisal, on a CONDO form and the underwriting would not approve it until it was on the corrected form!
No Close on the 29th!
Then there was the Weekend!
On Mon. we were all on standby, and it came and went! On Tues. we were all on standby and it came and went! Finally, on Weds. we closed late in the Day, with a POA, for the selling Realtor, and an uncomfortable start to the Sellers Vacation.
Thankfully, the Buyer, did not have a packed van sitting in her driveway, but a lot of people do! It would have been all the same if she had planned to move that day and over the weekend! The Sellers, had already moved and things worked out!
I Just Read Missy's Blog post on Freedom. She did a great job reminding us of the Truth that Freedom is not Free, it comes with a terrible price!
My Dad was a Navy man for Twenty years. The Funeral was a Military Funeral with a twenty-one gun sulute and taps, but most of all, an older gentleman spoke on behalf of the military, and it was so moving, and uplifting!
I Hope Everyone Out there , has a chance to go to a Military Funeral at some time in life! It certainally is a reminder of the Bravery that has come from George Washington, all the way until now!
Our Freedom is Blood Bought, and cannot be kept without the shedding of Blood!
Last week was rough, but I have to go back to work.
Working with an Investor, as her Realtor is rewarding. The last close I had was for one of her properties, in the Halls community.
The market changed just as she had finished the house What else can you say when houses go from selling within three to six months, to longer. The house was priced right for the 2007 market, however 2008 and 9' certainly, have proved to be tough. Actually, we had three contracts on it , the first had a contingency, of selling their home, the second fell through due to financing, and the third closed!
The House has good bones, the all- Brick, basement-rancher, is a good house, it has almost 2000 sq ft. and is in good condition, has been updated, and has a large lot, in a convenient location!
A Young Lady bought it. I think she made a smart purchase, even without any changes she could stay in the house from now on, however, with a few changes I think she could increase the homes value. The one-car garage, could be made into a dining room, with the wall between the kitchen and garage opened up, there is room in the back to add a two -car garage on. The bedrooms and baths are pretty good size and the other rooms are too!
I wish Her Well! I'm sure we, as Realtors, whether you are working with the Seller or the Buyer, always, wish the Buyer well with the home they have chosen! Being sensible, about the home you purchase, as a first time home buyer can make a huge difference in your future!
It is a beautiful but sad day for me, here in Knoxville, Tn. At 7:30 last night on the 19th I got the call that my dad, Richard Grubb, had passed away. I know that this has nothing to do with Real Estate, however, it will or has come into everyones life. This fact of Death.
My mom, Hazel, is almost 80 and Dad had turned 80 in March of this year! He had suffered from strokes and heart trouble for over 10 years but had only been in the Veterans Home for a little over two years. It is peaceful because being almost blind and not able to do anything for himself except eat, it has been hard to watch! The strokes had taken a toll on him and he has not been himself for a long time!
My brother and sister, and I are helping make arrangements since they were not pre-arranged, (wish they had been). This is a hard thing to do!
I am writing about this because, nobody talkes about death and it is really a part of life. My husband of Thirty years was killed in a car wreak, my nephew, at 28 was also, so our family is not imune from tradgedy.
I'm Glad I can say;" O Death where is your sting, O Grave where is your Victory" I hope you can too!
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Connie is a Realtor and has been for over Five years. Working with Platinum Realty Group in Knoxville, Tn. She continues her Education, to better serve you. How can I Serve U?
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