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Hi All,

I closed another transaction yesterday and I awoke this morning with that Scarlett O'Hara morning after glow about me.  After a languid stretch and a considerable amount of humming to myself I sauntered into my living room only to find that my cellphone had already been far busier this A.M. than I had. 

Upon checking my voice mail I heard the harried voice of my Escrow officer admonishing me to check my email urgently as there was a document that she claimed my client had neglected to sign and without it they were not going to disperse my funds.  I hasten to point out here once again that the transaction was recorded yesterday so we are closed, finito, a done deal, that's all she wrote and ba-de-ba-de-ba-de "That's All Folks".  Or it should be. 

Popping up with a 13th hour document never before presented to my client or me which is not a lender requirement, escrow instruction, CAR form, or otherwise discussed, let alone negotiated item (and which says right there on the face in big, bold black ink that it is not to be presented prior to the close of escrow so it appears to be designed to be a "surprise"), amounts to strong-arming my client into signing away their rights after the fact, (something they don't want to do), while holding my paycheck over my head in order to use me as the muscle, (which is something I am not willing to do) is not just dirty pool, it is something akin to an attempted contractual rape.  But as usual, I digress...

As is the case with every transaction I have had the pleasure to participate in actively, observe passively, or read about objectively, I am reminded time and time again that in a real estate transaction despite every appearance to the contrary, each time is "The First Time" for all the players and after the deed is done, memories are erased and virginity is mystically restored. 

Alas, there seems to be an inability for all concerned to peruse any sort of real estate Kama Sutra in order to ensure that we all wind up satisfied and happy and that no one ends up getting an elbow in the eye.  Must we all really behave each and every time we are confronted with the opportunity to shepherd a client from contract to close as though this is the very first time we've ever "done it"?

Yes, I am aware that each client is different, and yes, I like to spice things up now and then too, but in real estate, much like other pursuits in life, there comes a point where you realize that there are only so many Slot "A's" your Tab "B" can go into before you begin to repeat yourself and things become at least vaguely familiar, somewhat smoother and a whole lot less painful. Or they should.

We all know what the minimum necessary elements for the successful consummation of a deal are.  And some of us (escrow officers, title companies, lender's, etc.) have been involved hundred's, if not thousands of transactions which you would expect would render them "pros".  And yet, each and every time we get into bed with each other we flail and fumble like Victorian maidens on our wedding night. 

It is not too much to ask that when we are working, instead of behaving like blushing brides we comport ourselves instead like old lovers.  Taking pleasure in the familiarity of the act, seeking comfort in its sameness and enjoying the surprises, but always making sure that our partners are able to be confident that we have been down this path before, will get them there safely and will do our level best to keep elbows from meeting eyelids.

Take care all, help lots of people and have a wonderful day!

Tisza

 

 
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26 Comments on Its The First Time EVERY Time In A Real Estate Transaction... But Should It Be?

MAR
13
2009
1,545,551 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

If the escrow is closed, it would appear that the county land records clerk was satisfied with the presentment of the deed and other filings. 

It would also appear that someone in the title office goofed in their doc prep for which they probably charged the buyer about $300. 

It would also appear that they have decided on the commission of extortion of the agent's time in order to get the agent to help them complete their paperwork. 

We had a similar case where the title company refused to give our buyers keys to a house after the deed was signed and the seller had their money simply because the bank/seller had not signed one unimportant doc. 

I suggested to our agent for that buyer that she suggest to the title company that a letter from the purchaser to the insurance commissioner (oversight for title companies in MD) would be hand delivered in one hour if the keys were not handed over. 

Sometimes you just have to say get out of my way and correct your own mistakes. 

Love it when you visit Tisza.

5:30am • #1
1 Featured Post

Hey Tisza,

  This post was great, I could not stop laughing.  It amazes me how no one ever takes responsibility for mistakes or blunders.  For seasoned veterans in the industry, it should not always seem like the 'first time', but it never seems to fail -- it always seems like that.  People lose their minds and go crazy and forget what in the world they are doing.  Everything which you stated in regards to the document popping up at the 13th hour is correct.  I cannot tell you how many times that has occurred and I am sitting here asking where in the world that came from (lol).  Nice post and very well written!

5:49am • #2
320,285 Points 5 Featured Posts Outside Blog

Most closing documents have a guarantee to correct and cooperate from your buyers. If a document was missed they have to go sign it. Holding keys and commissions hostage is the motivation to cover there butts!

5:49am • #3
848,742 Points 153 Featured Posts Localism Sponsor Outside Blog Hit Router Attended Rain Camp Called Shot Master

Tisza, we had clients closing in Ca for a home here. They called from the title company with a document they didn't understand, so I got the lender on the phone and we conferenced. I thought I knew every document. But, this was a new one and I couldn't explain it, neither could the lender.

Someone at the title  company in Ca said they knew what it meant but since they were only the closing company didn't want to explain it.

It was no biggy, finally someone there did.

In 14 years I had never seen this document.

6:42am • #4

Tisza - Great post!  Love your writing style and the fact that in addition to being fun to read it is also informative.  I agree wholeheartedly.  Our clients should feel they are dealing with an experienced professional and all involved in servicing the transaction should work as a team.  Teams support and help each other - they should not hinder the success of the team or the team's closing.  Thanks for sharing.

6:50am • #5
327,553 Points 9 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Hi Tisza ~ You make some great points but the delivery - out of the park! I still have tear in my eyes! And I love your profile too - the mashed potato dive is unforgettable - and how many of us can say that about our profiles?

Liz

7:09am • #6
253,278 Points 58 Featured Posts Called Shot Master

Hi Tisza,

I love this post! You are very creative. I have found over eight years of selling that every transaction is different. They shouldn't hold your check over your head. Once it has been recorded that's it. Finito. Finished.

-Lisa

7:17am • #7

You withold my paycheck hostage today, you've got me (today).

I make sure I never close again with you (and maybe I mention what happened to others) and the closing company loses future earnings.

Who really has the power in this situation?

Its uncanny how the companies that piss me off seem to go out of business.

Treat others as you want to be treated.

consumer
7:31am • #8
360,757 Points 36 Featured Posts Called Shot Master

Hello Tisza.  Good to meet you.  I love the way you use words and metaphors.  And you're right, nothing is ever the same and we have to stay on top of things every minute.  Good job and good luck.

7:33am • #9
159,160 Points 5 Featured Posts

Great metaphors and wonderful reading. Have you ever written a book? I would buy a copy.  Your message is so true. Every once in a while, there is a smooth transaction, but nowadays, they are few and far between.

7:43am • #10
145,354 Points 2 Featured Posts Localism Sponsor

Tisza, the title companies I work with have the buyers and sellers sign a paper that says if they missed a needed document that they will cooperate and agree to comply with needed doc!

8:13am • #11
548,980 Points 110 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Tisza...

Good to see you around :)

Excellent post as usual. There aren't too many people in our neck of the woods that would consider an attempt at holding our paycheck hostage. They've seen what I can do with my gun :)

TLW...ROAR!

8:22am • #12
125,689 Points

Caren, it is the same here. You sign a paper that says you agree to come back if one signature is missing.  I sort of understand this because of all the paper work involved.  However, I do like it when people admit that the mistake was theirs.

8:32am • #13
260,424 Points 10 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp Called Shot Master

Funds aren't disbursed here until the document is recorded, which is different than DC/MD/VA where funds are disbursed at settlement. I always liked that better - a wet settlement is much more fun, and then they couldn't hold your commission check over your head, because you'd already have it!

8:33am • #14
749,816 Points 99 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Tisza, I so miss your writing----thanks for showing up here in the rain again:)

8:39am • #15
291,720 Points 5 Featured Posts

Thank you, Tisza. I would argue that when we lose that first-time feeling we're in potential trouble. Passion is key and that is what a first-timer has in abundance!

9:13am • #16
1,545,551 Points 416 Featured Posts Localism Sponsor Attended Rain Camp Called Shot Master

Virginia doesn't disburse until title is recorded.  MD usually does. 

10:00am • #17
751,907 Points 7 Featured Posts Localism Sponsor Outside Blog Called Shot Master

Great post it was funny and informative, well deserving of the gold star.

10:28am • #18
Localism Sponsor

What a great read. I loved your post and how true it is.

10:50am • #19
Localism Sponsor

What a great read. I loved your post and how true it is.

10:50am • #20
12 Featured Posts

Hi All,

Thank you for all the wonderful comments.  It is nice to touch base with my friends again.  And a feature is totally icing on an already very rich cake :-)

I am off to collect my check from escrow (Yippee!) but I don't want to neglect responding to everyone.  I will be back soon and will be parked before the laptop in a few hours.  I am looking forward to seeing who else will stop by.

Take care, help lots of people and have a great day!

Tisza

11:35am • #21
147,462 Points 3 Featured Posts Localism Sponsor Outside Blog

Tisza - Such a well written post!  I hope that it has all sorted itself out - have a great day!

1:10pm • #22

Great read. Thank you

 

Best,

Sandy

Sandy
3:20pm • #23
MAR
14
2009
1,304,164 Points 313 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Tisza - good to see you here again, and with a feature! Intriguing story, and actions which I suspect may be a violation on the part of the escrow company. But I'm no attorney. Shame on that escrow officer for holding your fee hostage when it appears someone did not do their job. I don't think payment of the commission per the contract is dependent on this sort of thing but, rather, on the close of escrow which had occurred. But what do I know.

So is your bank account a bit richer now?

Jeff

9:56am • #24
MAR
15
2009
149,166 Points 7 Featured Posts Outside Blog

Ha! Love every senntence youwrite girl! Heres one for ya...

thanks for stopping in the rain..vistit more often!

http://www.youtube.com/watch?v=NpeahgdzYp4

12:51pm • #25
705,305 Points 38 Featured Posts Called Shot Master

Tisza - Don't you just hate how those little "must have" documents show up from nowhere, immediately after closing escrow?  I always feel so unprofessional having to meet with my client to get those "post mortem" papers signed!

7:18pm • #26

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Tisza Major-Posner, DRE#01784679

Claremont, CA

More about me…

I.V.P.G. - Inland Valley Professional Group

Address: 555 N. Benson Avenue, Suite N, Upland, CA, 91786

Office Phone: (909) 581-6444

Cell Phone: (909) 837-8922

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