When you were a child I'm sure your mother said to you all the time "Don't count your chickens before they hatch". I bet you never thought she was teaching you about business at the time!
It seems like in this industry no one can help "counting their chickens". All the time I hear realtors and loan officers talking about deals like its already done. We all no until the deal is recorded pretty much anything can happen. There are so many factors that can push a deal south. Especially at this time in the month it is really important to keep everything in perspective. Yes, we are pushing as hard as we can to get everything in and yes everyone wants the deals to go, but there are so many pieces of the deal that have to come together, isnpections, appraisals, loan approvals, assets, insurance etc. Things can go awry at any turn without any notice its coming.
Here are some recent examples of wrong turns that have seriously put off deals I have in the works:
1. a purchase where the seller never mentioned to the buyer or the buyers agent anything about the property needing to go through probate. All of a sudden the deal is cleared to close, we are drawing a package and just need to verify the conservators right to sell the prop. Woops!
2. the USDA takes 2 weeks to provide a payoff. Turns out those 2 weeks were jsut for instructions for the payoff, still need 5 more days for the payoff.
3. pmi companies revise acceptable ratios, so even though we can get the loan approved, and do, there is not PMI company to insure the loan
Just a couple. How many of us have deals that all of a sudden get pushed back or fall apart out of left field. Just when you think its done, that seems to be when the surprises seem to pop up. If you count those chickens before they hatch, there may be no chicken on the table tonight!!
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