Getting to Closing....Never Easy but Always Worth the Effort

By
Real Estate Broker/Owner with Heart Realty Group, Inc.. IL-471.002355

It was the best of times, it was the worse of times, it was closing time!  I was lucky to have 2 closings last week that actually closed.

One of my short sales that I have blogged about before closed.  It was rescheduled several times due to buyer's lender not giving a clear to close.  It finally closed but it was not easy.  Up until the las minute the short sale approval letter was revised with last minute demands from the 1st lien holder that could have dismantled the whole deal.  Without the hard facts and figures from monthly market closings the lender would have forced another foreclosure instead of getting a majority of their money upfront.

The buyer got a great deal, lawyers,and two lenders made money, two realtors and local, state governments will get new tax revenue from property taxes and transfer fees.  Another successful closing, another house off the market.

My next closing was with a 1st time home buyer and an investor who had rehabbed the property.  This one almost didn't meet the lender's lock deadline because the earnest money was not deposited by the seller's attorney in a timely matter.  Small details can really make a difference.  Even a last minute lender request almost stopped the funding and release of funds due to a lender requirement that the homeowner's policy receipt be typewritten paid versus stamped paid.  Are lenders getting picky???  Now that the horse has not only left the barn but closed the door and run off to the neighbor's pasture lender's are coming up with unreasonable demands that have nothing to do with the credit worthiness of the borrower.

But despite the small bumps in the road we were able to get funding and make another set of players happy.  Lenders, lawyers, title company, state and local government, loan officers, sellers, buyers and finally 2 realtors.

Here is the happy buyers - getting the key to their new home:

 

Happy Buyers at Closing!

 

Making buyers and sellers happy is well worth the effort of getting them to the closing table.

 

 

 

Posted by

Evelyn Santiago

Managing Broker/Owner - 630-251-0059

Heart Realty Group, Inc.

We are Passionate About Real Estate!

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Rainer
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Rancho Mirage, CA

Congratulations and we love to hear success stories when there is so much negative publicity out there.

Nov 09, 2009 03:40 AM #1
Rainmaker
722,453
Pat Champion
John Roberts Realty - Eustis, FL
Call the "CHAMPION" for all your real estate needs

I love to hear stories like this-it seems those that are never easy are the ones that make your time more worthwhile. Congrats to having 2 closings in 1 week may you have many more.

Nov 09, 2009 03:46 AM #2
Rainmaker
324,247
Evelyn Santiago, Managing Broker Heart Realty Group, Inc.
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!

Thank you so much for your kind words.  We definitely have to focus on the reason why we are in the business and blog on more positive experiences. 

May all of us continue finding new buyers and sellers and getting more homes off the books and back to being performing assets for lenders, sources of taxes to communities and homes for our fellow citizens to enjoy and use as tax write-offs.

Nov 09, 2009 03:50 AM #3
Rainmaker
2,948,820
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Evelyn - Those of us who have made the long trek to a closing understand the pride in being instrumental in making it all happen. At the end of the day ... it's about creating happy clients.  Great Job!!!!!

Nov 09, 2009 03:53 AM #4
Rainmaker
1,524,868
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

Evelyn, good going, your persistence paid off!  I have a closing on Friday but for the last week we have been fighting a major title issue.  The fence in the back yard was encroaching onto the POA common area by almost 40 feet. It had taken a lot of time and persistence to work through this issue.  My buyer commented to me that I was really going to earn my commission on this sale.  I told him that I earn my commission on every sale.

Nov 09, 2009 03:56 AM #5
Rainmaker
324,247
Evelyn Santiago, Managing Broker Heart Realty Group, Inc.
Heart Realty Group, Inc.. - Oswego, IL
Passionate About Real Estate & Our Clients!

Kathleen & Sybil

Thanks for your comments.  I am sure both of you are working just as hard or harder to bring transactions to the closing table.  We always earn our commissions and at the same time meet our buyers and sellers expectations and even exceed them.

Let's keep the positive outlook on what is a situation that hopefully will be a "once in our lifetime" event and we can have an even better future in the housing industry.

Nov 09, 2009 04:09 AM #6
Rainer
150,619
Ed Macias
Real Estate Teammates - Miami, FL
Miami FL-REO Property Management Multifamily

Great story. I love success stories like these because they are happening more and more every day.

May 18, 2010 08:59 AM #7
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Rainmaker
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Evelyn Santiago, Managing Broker Heart Realty Group, Inc.

Passionate About Real Estate & Our Clients!
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