Turbulence and the Real Estate Transaction!

By
Real Estate Broker/Owner with HomeRome Realty 410-530-2400 311291

Pen

You might call them potholes or bumps in the road or detours; I call them turbulence. All those things that can happen between the time you sign a contract to buy or sell a house, and the day the keys change hands at settlement.

While talking on the Radio show this past Sunday, I started talking about challenges in a transaction. Many of you know that we fly a great deal. I am very fortunate that my husband is a pilot and we have the luxury of using our plane when I speak in places like New England. And when you fly, it is not unusual to encounter turbulence.

So what is turbulence? It might be a contract with contingencies: You agree to sell your house to someone who has to sell their house in order to buy yours. That means your sale is contingent on their sale. What happens if your buyer is not able to sell? Oops - turbulence.

 Turbulence

You find a house you love, that you just have to have. At first look you know it's a stretch for you financially, but it's the perfect house. Then you go back and crunch the numbers, adding in all the costs you didn't think about at first - closing costs, moving, new appliances, etc. Uh-oh - that house you love just became unreachable.

contract model houseOr you are selling your home and have a buyer who looks perfect. They want your home, they offer full price, and sign a contract. Sounds great, but are they qualified, can they get the mortgage they need, do they have "bruised" credit? There's another pot hole for you.

How do you handle these bumps? It's up to me to prepare you for them. My job as your Realtor® is to be honest with you from the start, to let you know that there will be turbulence. When you are prepared and encounter these bumps, they are much easier to ride out.

shake hands

Turbulence bounces you around, but a top professional Realtor will help you get through the rough spots and on to a smooth settlement.

www.HomeRome.com

Baltimore,Md

 


Comments (9)

Anonymous
Gail
This is so true, and I know you are there for your clients.  That's what makes you so special.  I hope in the years to come, I can learn from you and your experiences.  Love, Gail  Great radio show by the way. :)
Dec 26, 2006 06:35 AM
#1
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

I am so excited about your being a Rainer. You are welcome to learn from all my experiences and I look forward to sharing with you! It was great having you call in on the radio show. Now if only we can get a buyer for your wonderful home in Alexandria.

Dec 26, 2006 06:46 AM
Carole Cohen
Howard Hanna Cleveland City Office - Cleveland, OH
Realtor, ePRO

Margaret, I love the graphic! I could stare at it, but then I did finally read what you wrote :-)  One of these days I am going to be home or available to listen when you are on the radio I am so bummed that I missed you twice now.

Your clients are very lucky to have you; it's so much about us as consultants, communicating information so surprises are fewer and the path to getting the keys to the home (or giving them to someone else!) is less bumpy. Great post!

Dec 26, 2006 07:47 AM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Hey Carole, did you sell another house instead of listening to me again? :-)

And I love that graphic also.

Dec 26, 2006 07:51 AM
Carole Cohen
Howard Hanna Cleveland City Office - Cleveland, OH
Realtor, ePRO
Hi Margaret, I was actually showing one that MIGHT sell lol   And Happy New Year!
Dec 26, 2006 12:37 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Carole,

You do make me smile! Gosh I hope it sells!! I am sure we will talk before the New Year!

Dec 26, 2006 01:35 PM
Colleen Irwin
Retired - Irondequoit, NY
Creative Real Estate Solutions...
Margaret -- great post!  I also enjoyed you speaking about it on the radio show on Sunday....   
Dec 26, 2006 02:43 PM
Sharon Simms
Coastal Properties Group International - Christie's International - Saint Petersburg, FL
St. Petersburg FL - CRS CIPS CLHMS RSPS
Margaret - one of the nice things about getting up in the morning is knowing I'll find you with a new comment. Thanks for sharing coffee with me each day.
Dec 26, 2006 10:26 PM
Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome
Sharon, Sharing with you has always been a pleasure. Loved talking with you this morning. Happy New Year! I will miss you guys in SA.
Dec 27, 2006 03:07 PM