About Conveying Bad News to Home Sellers and Buyers

By
Real Estate Agent with Lyon Real Estate BRE #00697006

Although it has been decades since I've had a concurrent closing that did not close on schedule, all it takes is that one lone wolf to mess up everybody's lives. Even when you double check with all involved in the transaction to make sure nothing can go wrong, some wiggly thing can cause all havoc to break loose.

In our situation, it was a receipt for a wire. The transaction involved a gift letter for the buyer and the individual wiring the funds sent the wire from a different account than the account noted as proof of funds for the gift letter. Oops. The lender did not notice this until the day we were supposed to close, 3 days after the wire was sent.

Now, as a Sacramento listing agent, you know you have to relay this information to the seller. And you know how it will be received. You can read more in my personal blog today at this link: When You Have to Break Bad News in Sacramento Real Estate.

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Certified HAFA Specialistelizabeth weintraub

 

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Elizabeth Weintraub is an author, home buying expert for About.com, a Land Park resident, and a veteran real estate agent who specializes in older, classic homes in Land Park, Curtis Park, Midtown and East Sacramento, as well as tract homes in Elk Grove, Natomas, Roseville and Lincoln. Weintraub is also a Sacramento Short Sale agent who lists and successfully sells short sales throughout the four-county Sacramento area with an emphasis on Elk Grove. Call Elizabeth Weintraub at 916.233.6759. Put 40 years of real estate experience to work for you. Broker-Associate at Lyon Real Estate. BRE License # 00697006.

The Short Sale Savior, by Elizabeth Weintraub, available with free shipping.

Photo: Unless otherwise noted in this blog, the photo is copyrighted by Big Stock Photo and used with permission.The views expressed herein are Weintraub's personal views and do not reflect the views of Lyon Real Estate. Disclaimer: If this post contains a listing, information is deemed reliable as of the date it was written. After that date, the listing may be sold, listed by another brokerage, canceled, pending or taken temporarily off the market, and the price could change without notice; it could blow up, explode or vanish. To find out the present status of any listing, please go to elizabethweintraub.com.

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Topic:
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Ambassador
1,606,603
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Good for you Elizabeth. It's the only way to deliver bad news - and sadly the buck does stop here, even if it's not our screw-up.  This too shall pass.  I have an eye exam coming up, now I'm dreading it. 

Aug 04, 2018 09:48 AM #1
Rainmaker
2,032,760
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

Debb Janes EcoBroker and Bernie Stea JD Well, just don't have a transaction about to blow up when you're walking in the door of your eye doctor so you can put away your cellphone, and you'll be fine, LOL. You won't be like me saying, let's just pretend I read that last line because now I have to look at my phone. And then my Apple Watch rings. Quick cover with hand. Oops.

Aug 04, 2018 09:52 AM #2
Rainmaker
1,504,419
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

iI keep thinking things will be easy on any given day - but the opposite is generally tru

Aug 04, 2018 06:42 PM #4
Rainmaker
2,204,085
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Like you, I prefer to deliver any bad news in person.  Concurrent closing can be a little frightening at times, because as you say, it only takes one lone wolf to mess things up.  

Aug 05, 2018 02:11 AM #5
Rainmaker
3,612,154
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Elizabeth, UGH, hate it when those pesky items show up at the 11th hour.   Had one a few years back, my listing - the buyer's property was not closing on time, and affected 3 other families.   Never will use Chase again, they never answered the phone.

Aug 05, 2018 01:05 PM #6
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