In the season of giving, I have noticed some people who are going too far. They maybe do not know better or maybe just were not thinking. I know here in the Manchester area sometimes it is harder to get a bank owned home, foreclosure or short sale to close than it is to find a buyer willing to make an offer. This shows our market is showing a strong recovery, unemployment is down, listing inventory is way down and sales are way up. What else is up is human error.
BUYERS are not immune as I had a buyer purchase a new car for him and his wife prior to closing. Their debt ratio is now too high and they cant purchase the home we have worked on for the last 3 months.
LOAN OFFICERS are not immune as I had a buyer putting down 20% on a bank owned home, It needed too much work to go FHA. They have excellent credit and they have the 20% in savings to go conventional. The Loan Officer decided he could save the couple money and changed then to a FHA loan on his own, he did not tell me and got the buyer all excited to save some money. The appraisal comes back and their FHA Loan gets denied but he does not tell anyone. We are supposed to close Friday and it was not until i started to push him for closing details he came clean.
SELLERS are not immune as in the case where after the final walk through, they went back in and decided to take all the ceiling fans that were included in the sale. Closing is off but Negotiation is still on how to come to an agreement.
APPRAISERS are not immune as in teh case when they are appraising a short sale the value comes in above market value killing the sale. The home gets foreclosed on, it actually gets some repairs and put back on the market for teh same price. The same appraiser gets the order and appraises it much lower than the sales price which was almost identical as the short sale price 8 weeks ago when they appraised it much higher. The moral of the story is why are the appraisng short sales so high and purchase so low?
AGENTS are not immune as the price of a short sale was half of what all other homes in this subdivision are listed for or have sold, the buyers puts in an offer, it is accepted. 3 months later it gets denied by the sellers bank becuase the price is too low. The moral of this story, pricing a short sale too low attracts buyers, but causes short sale denials.
And LASTLY a home listed in a vacation area, is being sold as furnished including all plates, pots, pans and utensils. The buyer asks for all items in the house, the seller agrees, we show up for a walk through just before closing, the glasses, the utensils and the 1980's TV's all gone. The wife has a meltdown, she will not closet. The seller swears they did not take them and will not pay her for the missing items. I come to the rescue, offering to go to Walmart and purchase her new utensils, new drinking glass set and a new small TV so we can close. At the end of the closing Mrs Buyer asks the seller for the key, the seller says she gave the key to Mr Seller last Saturday, They were their cleaning and he stopped by so she gave him the key early. Mrs Buyer had no idea. Mr Buyer confesses to removing the items as the TV which he said was too old and he would not eat or drink out of someone elses kitchenware. Buyers literally sprinted to their car, everyone else shaking their heads.
Now everything does not always go wrong, it just takes a little thought and common sense for things to go right. Whether a Listing Agent or Buyer Broker I work hard to guide my clients through each step of the selling or buying process to avoid such follies. It is the items I have no control over that I stress over. which makes it so important for everyone in the process to communicate and do what they are supposed to. The result is often a quick closing where everyone is happy. Lately i find myself fixing what others are not doing correctly.
It does not take magic to turn your "For Sale" sign to a "Sold" sign. it takes a full time Local Agent who specializes in Listing homes like yours.
If you need to sell a home in New Hampshire I can be that agent for you. I strive to provide the best personal and professional service through each step of the selling process.
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Scott Godzyk is the Owner/Broker of The Godzyk Real Estate Services located in Manchester NH. With 25 years of Real Estate experience Scott specializes in Listing and Selling Bank Owned Homes, Short Ssles, Residential Properties, Condominiums, New Construction and Investment Properties. Scott services the counties of Hillsborough, Merrimack, Rockingham and Belknap. To contact Scott Godzyk please call 603-661-2121 or email firstname.lastname@example.org. his website is www.ScottSellsNH.com.