Special offer

Buyer's Expectations in a Transaction

By
Real Estate Broker/Owner with House to Home, Inc. - Denver Real Estate - 720-231-6373 DRE# ER40011786

 

 

 


Today's real estate environment is much different than years past and the needSetting expectations to counsel your buyers and sellers as to reasonable expectations is critical.    This seems to be even more important when they have purchased or sold homes prior to 2008.   The loan process has changed dramatically.    There are usually some bumps in the road prior to closings, and if expectations are explained, the transaction will be smoother.    



Buyers always ask what condition the seller is required to leave the property, Leaving a property in broom clean conditionand in Colorado -- it is "broom clean".    Usually if you show a property and it is immaculate, most likely that is how the buyers will find their new home upon possession.      If it is messy and dirty during the initial showing, that too is how they will find the home when they take  possession.



Many times during the transaction, buyers make additional appointments to measure areas of the homes for furniture or window coverings, or meet contractors.     This can become troublesome if it happens too many times, as the sellers are busy packing and taking care of possible inspection issues.     If I have a buyer that loves to visit once a week, (unless it is vacant) I try to explain some of these items can be done after taking possession.



The week of closing where the file is at the lender and in underwriting, there is a very good chance a buyer will need to produce extra documentation.     Underwriters seem to want to have every piece of information on you since birth , and if a buyer plans time away and will be unavailable, it is a good idea to schedule a closing a week after they return.



I recommend to all buyers to have time to clean their new property prior to moving kitchen and bathroom items in or have a professional cleaning company especially if I know they area neat freaks!      This sets a level of expectation, and usually has a better ending!

 

Posted by

Joan Cox
Broker/Owner, REALTOR®
House to Home, Inc.

Serving the Denver Metro area including all suburbs


Helping Buyers and Sellers achieve their real estate dreams, one house at a time!

LinkedIn  |  Facebook  |  YouTube
About Me  |   My Blog
       My Website

720-231-6373  
Call or Text Me!

Email Me!

 

Comments(24)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I have a buyer closing next month that is a complete neat freak, and the home she is buying would never be clean enough.

May 26, 2014 11:50 PM
Adrian Willanger
206 909-7536 AdrianWillanger-broker.com - Seattle, WA
Profit from my two decades of experience

Hi  Joan, setting and managing client expectations during the closing process can make a huge difference between a smooth and a not so smooth closing.

May 26, 2014 11:57 PM
John McCormack, CRS
Albuquerque Homes Realty - Albuquerque, NM
Honesty, Integrity, Results, Experienced. HIRE Me!

Good morning Joan Cox.  I wrote an offer for my buyers last night.  One the request was the home be professionally cleaned before closing.  My buyers weren't aware they could request such a thing but the for the price and area the home really needed to be cleaned well before my buyers pick up the keys.

May 27, 2014 12:04 AM
Lottie Kendall
Compass - San Francisco, CA
Helping make your real estate dreams a reality

Great way to set expectations, Joan.

May 27, 2014 12:34 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

most States are about the same when it comes to cleaning...I personally think it should default to professional cleaning unless otherwise agreed to.

May 27, 2014 01:40 AM
Debb Janes
Nature As Neighbors - Camas, WA
Put My Love of Nature At Work for You

Hi Joan, good blog and you're so right "setting expectations" is so critical.  It would be nice if all sellers were polite enough to leave the home in ship shape condition, but I think they get worn out from moving - and some literally leave a mess for the new buyers. If that's the case, the only right thing to do is have it professionally cleaned.

May 27, 2014 01:58 AM
Jeanne Dufort
Coldwell Banker Lake Country - Madison, GA
Madison and Lake Oconee GA

Excellent blog - meeting expectations can be tricky if all the parties are working from a different set of assumptions!

May 27, 2014 03:09 AM
Wayne Johnson
Coldwell Banker D'Ann Harper REALTORS® - San Antonio, TX
San Antonio REALTOR, San Antonio Homes For Sale

Joan-I did not appreciate the real value in setting expectations early in my career in real estate. That can go a long way toward making the experience easier for the principals.

May 27, 2014 03:56 AM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Joan, Good information for home buyers and sellers. I had buyers who wanted me to write in the agreement of sale that the house should be professionally cleaned but later changed their mind when they realized it was a multiple offer situation

May 27, 2014 03:58 AM
Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Great recommendations Joan!  It is always so true that buyers expectations for a 'clean' house do not match a sellers.

May 27, 2014 04:17 AM
Tina Parker
EXP Realty Canada Inc. - Halifax, NS
Managing Associate Broker

This reminded me to have a conversation with my neat freak buyers who arebuying a family home that wasn't to her high standard of clean on viewing. I can't imagine what it will look like on closing. Thanks.

May 27, 2014 04:32 AM
Will Nesbitt
Nesbitt Realty at Condo Alexandria - Alexandria, VA
Nesbitt Realty is a family-run brokerage.

Joan Cox, there is no doubt about your insider Real Estate knowledge. I hope you continue to deliver these informational posts.

May 27, 2014 05:31 AM
Rob Thomas
Prestige Homes of The Tri Cities, Inc. CALL....423-341-6954 - Bristol, TN
Bristol TN-VA & Tri Cities Agent, ABR, GRI, e-Pro

Joan ...Great information for everyone involved! Have a great day in Denver!

May 27, 2014 06:54 AM
Anita Clark
Coldwell Banker Access Realty ~ 478.960.8055 - Warner Robins, GA
Realtor - Homes for Sale in Warner Robins GA

Joan: Making sure our buyers and/or sellers know what to expect is a great way to ensure their expectations are at the appropriate level.

May 27, 2014 07:50 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Joan prepare our clients and creating realistic expectations as you do from the very beginning makes the road to closing a whole lot easier.

May 27, 2014 10:47 AM
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Joan, great strategy, people are much happier and take things in stride when they have been prepared properly!  

May 27, 2014 11:52 AM
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Hi Joan, counseling will help buyers and sellers have better understand the procedure in a transaction before closing.

May 27, 2014 12:59 PM
Lawrence "Larry" & Sheila Agranoff. Cell: 631-805-4400
The Top Team @ Charles Rutenberg Realty 255 Executive Dr, Plainview NY 11803 - Plainview, NY
Long Island Condo and Home Specialists

I had a buyer that even though the kitchen stove and refrigerator were only 2 years old, replaced them all because she couldn't use those that someone else used..

May 27, 2014 07:28 PM
Maria Gilda Racelis
Home Buyers Realty, LLC-Manchester, Bolton. Vernon,Ellington - Manchester, CT
Home Ownership is w/in Reach. We Make it Happen!

Hi Joan: Buyers who bought prior to 2008 will find the new process too tasking and overwhelming.

May 27, 2014 09:16 PM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Joan, yes the loan process these days can be very trying for the buyers.  It's best to try to prepare them for this right from the beginning.

May 27, 2014 09:52 PM