Location: California
Submitted 08/27/12 04:59 PM

Q. Need advice on how to advise my attorney buyer/client about HOA's- My client is an attorney and incredibly intelligent however EVERY document given to her she accesses in a long, bullet pointed email. She was even given a 9A report to review and wanted to have it revised! My issue is we have released inspection contingencies and I got her an 8,000 credit towards her closing costs, great news right? Well now she is reviewing the HOA Docs and it seems that the building may proceed with termite eradication at the end of the year and that some of the washer/dryer hook ups are unpermitted. In addition, the former developer and management company has an office in the foyer of the building and the HOA Board is working with an attorney for him to cease and desist and they may go into litigation if he doesn't cooperate. So now my client wants to have the sellers responsible(the sellers are home flippers and a corporation) and credit her another 3,000 for "potential" termite assessment and 6,000 for "potential" litigation assessment. The HOA has strong reserves and I have in writing there will not be any future assessments. Additionally, this was a multiple offer situation and came in 54K over asking(we got it by 4K), so she is exeriencing come buyers remorse though she loves the condo. So I feel like she's doing anything to get more credit, however the sellers are reluctant to credit her more. How do I advise her? Any advise helps!

 

Answer #1
Submitted 08/27/12 10:31 PM
Michelle Carr-Crowe 408-252-8900 Silicon Valley Homes,San Jose,Saratoga,Cupertino, Michelle Carr-Crowe Sells Lynbrook High Homes (Just Call 408-252-8900 San Jose Luxury Homes Cupertino KW): Agent in San Jose, CA Michelle Carr-Crowe 408-252-8900 Silicon Valley Homes,San Jose,Saratoga,Cupertino, Michelle Carr-Crowe Sells Lynbrook High Homes (Just Call 408-252-8900 San Jose Luxury Homes Cupertino KW)
Agent
San Jose, CA

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A.

Did you do a buyer consultation with her? What are her 7 reasons for buying this home? You need to review how well it meets her needs to keep her connected to the home.

It sounds as if she is a data driven person and when stressed, looks for more data. Has she already removed contingencies? If yes, she just needs you to remind her why she loves it. If not, you need to ask her "What's important to you about  x?" then listen until she stop talking.

Then remind her of your search, how hard you had to fight to get this one, is she wanting to start all over?

Unless she wants to back out and start all over she needs to realize that sellers are under no obligation to credit her for "potential" anything. She wants to buy the home or not. She may just be "searcing the sofa cushions" for any more money!

Some people are always looking for the worst case scenario - OK, she found it and it totals maybe $3K and $6K-or maybe not. Can she live with it?

Answer #2
Submitted 08/29/12 08:08 PM
Vedana Freitas (RE/MAX Synergy): Agent in Hollister, CA Vedana Freitas (RE/MAX Synergy)
Agent
Hollister, CA

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A.

Wow, Michelle has given you great advice.  I would follow up with that it is important for you not to be attached to whether she stays in the deal or not - this will give you the objectivity to work throufh Michelle's questions and advice - and, it will also give the client the comfort that you aren't just saying anything to close the deal.  Sometimes, when you offer them a way out, they come back around and want to stay in. 

Good luck!
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