Sellers - Don't Spend Proceeds You Don't Have Yet

Real Estate Agent with Keller Williams Capital Partners Realty 277320

This is an excellent post with great information. Thanks for sharing it.

Have a super fantastic week!
Joe Jackson, Realtor-KWCP

Original content by Joan Cox DRE# ER40011786

The lenders always remind Buyers not to buy items prior to closing or change their credit situation, but the same can be said for the Seller.    Our Sellers are seeing HUGE bottom lines from the equity increases over the last few years.


Even though a Seller knows they will see a giant wire transfer in 30 days, don't go on a spending spree and put everything on credit, thinking you will pay it off when the property closes.    Even if a transaction looks smooth, there can be last-minute snafus that can delay or eliminate a closing. 

Some items that derail a transaction - 


Big-ticket inspection items - roof, sewer, or a furnace that the Seller was not aware had issues.

The appraisal may come in low, and the buyer is not willing to bridge the gap.

Buyers may have items in their credit show up and lenders cannot approve the loan.

Buyer may lose their job, or get a pay cut and then don't qualify for the home.

We are seeing Buyers having "buyer's remorse", and terminating contracts.


Until the transaction goes to closing, all documentation is signed AND FUNDED, a Seller should not spend those proceeds!    Wait until the "fat lady sings".    When you see the wire in your bank account, then go and spend to your heart's content!   


Joan Cox
Broker/Owner, REALTOR®
House to Home, Inc.

Serving the Denver Metro area including all suburbs

Helping Buyers and Sellers achieve their real estate dreams, one house at a time!

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Comments (2)

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Thanks for the reblog Joe, and happy Monday to you, and hope the week is good.

Mar 27, 2023 05:37 AM
Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great post!  Thanks for sharing and enjoy your day!

Mar 27, 2023 06:38 AM