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An Observation About Real Estate Transactions

I had a settlement this afternoon that went like butter. It was flawless.

This is the one that started off with a seller in the jungles of Sri Lanka with iffy email and spotty electrical power even if the email was working. It took forever to get the thing ratified.

Then the buyers' insurance company wanted the details of a fire that showed up in their database. Um. There was no fire. That took some interesting back and forth with the insurance agent.

And today, less than two weeks after ratification, we had the smoothest settlement you can imagine.

Hud-1 sent out a day ahead of time, so it was totally corrected.
Papers arrived a day early from the lender
Papers emailed to the buyers (wife was a "reader" so she got to go over everything and called the attorney yesterday with her questions)
Seller in Sri Lanka, and his power of attorney was there to sign everything
Appraisal came in $25,000 over the asking price
Smiles all around!

It seems like the messiest contract negotiations seem to make for the easiest settlements! Of course, a good lender and a terrific title company (Federal Title) helped.

Posted by Patricia Kennedy on 11/21/2007 10:19 PM

Comments (14)

14 Comments on An Observation About Real Estate Transactions

You got lucky! Congratulations! I didn't realize my deals were so complicated, through no fault of my own, until my closing coordinator told me that pretty much all of my deals were weird! I've got a cash deal with no contingencies closing shortly - maybe that will break the streak? Fingers crossed....

11/21/2007 10:27 PM

by Susan Walters (Keller Williams Realty, Ann Arbor, MI)

Happy Thanksgiving to you!! I love it when a plan comes together...

11/21/2007 10:34 PM

by Linda Scanlan (A Fan of AR)

Doesn't it feel great when at least one transcation goes smoothly! Have a wonderful Thanksgiving!

11/21/2007 10:49 PM

by Lisa Ryan~Selling Princeton,West Windsor and Montgomery Township New Jersey (Prudential NJ Properties)

Patricia, maybe it was the luck of the day before Thanksgiving and everyone thought no closing, no turkey!

Happy Thanksgiving to you and yours!

11/21/2007 11:03 PM

by Gary Woltal - REALTOR® Dallas Ft. Worth (Keller Williams Realty)

test

11/21/2007 11:09 PM

by tester

Patricia, don't you love it when a plan comes together.

11/21/2007 11:29 PM

by Danny Thornton (Home America Mortgage, INC.)

Congratulations on getting the deal done. Good job.

11/21/2007 11:44 PM

by Bob & Carolin Benjamin - E Phoenix Arizona Real Estate (The Benjamin Team - Keller Williams Integrity First Realty )

yeah! That is always good news and I'm glad it ended up going so smoothly after some of the stories we were hearing early in this transaction.

11/22/2007 12:57 AM

by Todd Clark (Realtor), GRI (Washington Co, Beaverton Oregon) (Kastings & Associates, Beaverton Oregon Real Estate)

Congrats on it working out. Some are more complicated than others. You did well.

11/22/2007 05:34 AM

by Kay Perry (Classic Realty/GMAC)

You go girl! That is the way to start the Holiday Season!!!! By the way, Happy Thanksgiving to you and yours!

11/22/2007 09:40 AM

by Barbara-Jo & Bill - - Florida Realty Professional - AHWD (Charles Rutenberg Realty)

Happy Thanksgiving Pat! Seems like just yesterday you were saying the seller was in Sri Lanka and was having problems responding....I, in my usual negative attitude, thought it wouldn't work....good for you for hanging on!

11/22/2007 11:29 AM

by Mary Warren, Las Vegas Real Estate (Keller Williams Southern Nevada)

Good for you Patricia, thanks for sharing the end of the story.

11/22/2007 11:57 AM

by Keith Perry - REALTOR® -West Metro Atlanta (Coldwell Banker)

Patricia-Congrats on your smooth closing! I love those smooth closings! Have Happy Thanksgiving! Katerina

11/22/2007 09:07 PM

by Nestor & Katerina Gasset Realtors® Wellington Florida Luxury Homes (International Properties and Investments, Inc.)

Oh I LOVE the easy ones!!!! They do not happen enough! I have 2 this week and I just have the "feeling" in the pit of my gut. I have a feeling I will be earning my money this week!

11/24/2007 08:04 PM

by James Downing - REALTOR® - Washington DC Real Estate (Coldwell Banker Residential Brokerage)

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