We sold an inherited farm at auction, and it went for 50% less than it should have, but we had to sell it. We dealt with that insult - the farm needed 20k of septic work, new roof, continual exterminators, has a wet dirt basement, exorbitant fuel oil heat, no curb appeal, no cupboards or appliances, rotten floor plan, needs completely overhauled throughout, and needs windows and 1888 plaster walls replaced...but it was on 15+ acres, and we hoped it would go for more. But, again, none of us wanted to live there, so it had to be sold before the insurance went to vacancy rates and winter hit us again.
Then came the closing. Cash buyers, looked like an easy close. Unfortunately, the buyers started driving everyone crazy...let's close early, where are my keys, can we start excavating, where are my keys, we didn't take down the for sale sign, where are my keys...they bugged the auctionneer incessantly.
They bugged my family ad nauseum. When can we get in, when do we get the keys, we will lose our deposit if you change your mind, when can we excavate, can we write you a check now and get our keys?
They bugged the title company. When can we close, when do you give us our keys, when do we close, when do we get our keys, etc.
All the pushing paid off for them. We closed two weeks early. They were the squeaky wheel and they got greased.
I never got a chance to get the title company our escrow letter or get all the necessary paperwork our closing department needed. I did get a call saying we had recorded. I never got my questions answered fully. I never got a preliminary HUD that was completed correctly. I never heard what was going on from the title company, and we had last minute issues that hit us like a steamroller.
I felt railroaded. Shoved. Cheated...but I couldn't put my finger on what was really bugging me.
Was it the pushy buyers who called and called and would never shut up?
Was it the obnoxious lawyer who told me I must have a family problem because I was slowing down the close and preventing people from getting their money, all because I was trying to get questions answered?
Was it the fact that I didn't have control/information about the closing?
Or was it just that I felt we had allowed the property to be stolen from under our noses, letting down my father-in-law?
It was everything. I hope my clients never feel this way, but I will be more sensitive in all my future closings, that's for sure.
Dawn: I think your Buyers realized that they were getting a steal and Closed before you changed your minds! I'm sorry to hear that you had to go through all of the pressure but, you're a better agent for it--you'll be more protective of both your Buyers and their Sellers and will never allow others to have to go through what you have. (You know there's ALWAYS a silver lining...)!