This morning at 08:30 I had a client close on his new home and his previous home without any problems on out end. The buyer of my clients home was scheduled to close at the some time but at a different title company. My client is receiving a large sum of money from the sale of his property, it will be wired to him. At 2:00 p.m 5 hours after all of our paperwork was signed, I called the title company at his request to find out why the wire transfer hadn't happened.
It turns out that the buyer of his home had a home that they were selling, surprise, surprise.
My clients home was in a multiple offer situation, and the reason this buyer won was that their agent told me that they didn't have a home to sell. Nothing on the offer said our transaction was contingent upon the sale of another property, and the mortgage approval letter also had no mention of another property.
Here we are at the end of the day, and the first domino in the chain of closings has not closed.
I know not to trust this realtor next time.
his posting and the contents written here are the intellectual property and opinions of Larry Brewer of Benchmark Realty. Providing real estate services to clients in Nashville, Brentwood, Franklin, Spring Hill, Green Hills, and the middle Tennessee area
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