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Is This Normal? Is This Really Happening? Now What Are We Going To Do?

By
Real Estate Broker/Owner with 1 Month Realty 49855-090

Is This Normal? Is This Really Happening?

Now What Are We Going To Do?  

A True Story in Real Estate

This is my second Entry for the March Challenge hosted by Patricia Feager, MBA, CRS, GRI,MRP and Kathleen Daniels, Probate & Trust Specialist 

Home Ownership

I listed a Kenosha house for sale and was working with a mentally unstable Mrs Seller who was going through a divorce (and Mr Seller did not want to sell).

Another agent brought us a buyer and they had the home inspected to meet the terms of their offer.  The inspector found a few items that needed work, but the sellers said they were not making any repairs, and if the buyer wanted the house, he would have to make all the repairs.  

Some of the repairs included putting on a new roof and removing a lean-too that was attached to the garage.  The buyer agreed to have the work done and chose to pay out of his pocket, and so we continued forward to close the deal.

At closing we were all in a room together; buyer, Mrs Seller (Mr Seller pre-signed), both Realtors, and the Closing Agent from the Title Company.

We all had a fun time around the table talking about the transaction and how everything ended up coming together, and thankful for the buyer going the extra mile so we could find ourselves at the closing table today.  

My client, Mrs Seller, was buying another house and would be closing on that purchase the following day, so a lot of excitement was happening around the closing room.

The Closing Agent came into the room and was flipping through some papers and getting ready to start our closing.  She handed me my closing folder so I could go through Seller docs while she worked with the buyer.

All of a sudden, Mr Buyer, a big burly man who was dressed like a Lumber Jack leaned back in his chair (I thought he was going to fall backwards!) and lets out a loud "Huh!"  Then proceeds to say, "Yeah!  I Lost my job today!" Silence filled the room.

Mic Drop!  Hearts Stopped!

Teamwork

Teamwork Needed ...

You could have heare a pin drop and then my Seller (who was to be my buyer tomorrow) says in a type of a whisper, "Is this normal?  Is this really happening? Now what?"  The closing agent calmly closed her folder and put her hands clasped on top of the folder and looking at the Buyer said, "Sir, as the closing agent of Knight Barry Title, I am also working for the Lender, your Lender, and we will not be closing today.  BOOM!  We all left the room in a sense of Shock!

patience needed

In Summary:

I quickly contacted the agent of tomorrow's closing and asked "if I was able to get this to close in the next few weeks, would her seller extend our closing?"  (She said YES!)

Buyer was able to procure a job and show 2 weeks of pay stubs and ... we were able to close!

And, we closed just a little over two (2) weeks later on my client's new house!

What could have ended in disaster -- or a Dead Deal -- was resurrected!

Everyone was satisfied and they all lived happily ever after. 

The End

Kathy Streib
Cypress, TX
Home Stager/Redesign

Oh my gosh, Diana!!! You're right, I'll bet you could hear a pin drop!!  Thank goodness  you kept your cool and were able to keep the deal together for everyone!!!

Mar 28, 2023 05:13 PM
Diana Dahlberg

Kathy Streib Silence is golden, but not in a situation like this! I am thankful I was able to keep my cool and just do what I thought best to do. Prayer sure helps!

Mar 28, 2023 05:37 PM
Scott Schulte
Scott Schulte LLC - Phoenix, AZ

That must have been a few days of stress seeing if the buyer could stay and obtain employment. Good job keeping the deal together! 

Mar 28, 2023 05:23 PM
Diana Dahlberg

Scott Schulte stressed for sure and if you could only have seen the face on the Lumber Jack when she closed the folder and stopped the closing.  He had already put a roof on the seller's house and done all that work -- for nothing!  He thought we were just having a FUN MOMENT and he was bragging about losing his job and buying a house on the same day!  Ouch!  I can tell you there were plenty of late night phone calls and negotiating along the way.

Mar 28, 2023 05:46 PM
Patricia Feager, ABR,CRS,GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

I had a closing once and Mrs Buyer announced she quit her job. Closing stopped. Mr Buyer was also shocked. She was able to get her job back and the closing date was extended.  

Thank you for your second entry 

Mar 28, 2023 05:33 PM
Diana Dahlberg

Patricia Feager, MBA, CRS, GRI,MRP OMG!  It amazes me that buyers don't know that you should not buy big items, or miss payments or quit a job before closing.  I actually have two different emails I send to every buyer once we get an accepted offer ... and i make them initial it to state they read it ... so this never happens under my watch!  It's called due diligence.

Mar 28, 2023 05:49 PM
Diana Dahlberg

Patricia Feager, MBA, CRS, GRI,MRP Wow! You are right about that.  We can talk til we are blue in the face and some buyers (and some sellers) never seem to hear a word we say or follow our good advise!

Well guess what?  I saw your message to me, and I took your advise.  I wrote a third one! Whew!  These took me all day.  Ha Ha

Mar 28, 2023 08:37 PM
Patricia Feager, ABR,CRS,GRI,MRP

Diana Dahlberg - in my closing, I had already told the buyers not to buy any big items like appliances, cars, furniture, etc. Also, we went over everything they needed to avoid and if there was any status changes to their marital status or jobs, to let me and their lender know. Mrs. Buyer quit her job that morning before closing and did not even tell her husband. He was furious with her.

We just can't tell them enough, by every type of communication we can to both parties, if they are a couple. 

I am glad glad things worked out for your clients too!

 

Mar 28, 2023 07:29 PM
Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Wow Diana, what a relief that the buyer was able to get another job and ONLY a 2 week delay.  That is why they always say a SALE is not a SALE until the money changes hands or "The FAT LADY SINGS".  Great post. Jeff

Mar 28, 2023 06:15 PM
Diana Dahlberg

Ha Ha Ha ... til the Fat Lady Sings!  Love that Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI Yes!  I think it was a relief for all of us -- agents, buyer and sellers ... and the seller of the house my buyer was buying -- that the seller was able to extend to make it all come together!  Whew!

Mar 28, 2023 06:25 PM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Diana - Yikes!  Pin-dropping, heart-racing and all sorts of mind-wandering occurred while reading your post.  

Mar 29, 2023 05:01 AM
Diana Dahlberg

@Michael Jacobs I'm glad! That means it was like reading a short story.  Thank you for your always positive comments. Have a great week!

Mar 29, 2023 09:21 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

Phew! is right! I thought you were going to say he was kidding! Geez...

Mar 29, 2023 05:23 AM
Diana Dahlberg

Kat Palmiotti Unfortunately this was NOT an April Fool's joke.  But now as I look back and how it all came together, it has become a story I have relayed over and over to new clients so that they know the importance of keeping your job!

Mar 29, 2023 09:22 AM
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I can only imagine the energy in the room when the buyer announced he lost his job on the day of closing.  Thankfully, he was able to gain employment and close with a little over 2 weeks' delay.  Wonderful that the sellers agreed to extend the close. 

Mar 29, 2023 07:19 AM
Diana Dahlberg

Kathleen Daniels, Probate & Trust Specialist In many ways i think of this one as a Miracle from God -- the chances that everything worked out AND the seller of my client (buyer and seller) who was buying a house AFTER this closing ... whoever would have thought this could work out!  I Thank the Good Lord that seller did not have a fixed date for what she was doing, but in that case I believe she already had procured a home, so it was just a matter of waiting a few more weeks to close.

Mar 29, 2023 09:25 AM
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Wow! Mic drop!  Good thing you handled that extension quickly.  Excellent work!

Mar 29, 2023 07:29 PM
Diana Dahlberg

Thanks!  It was of those Aha moments and I acted accordingly. So glad I did. Hope you are having a bang-up Spring there in AZ 

Jan Green - Scottsdale, AZ 

Mar 29, 2023 07:38 PM
Kathy Streib
Cypress, TX
Home Stager/Redesign

Apr 01, 2023 06:54 PM
Diana Dahlberg

Thank you Kathy Streib  -- sorry for the delay in respondng, I was on a Caribbean Cruise with my daughter and was UNPLUGGED!  Best thing I've ever done!  Appreciate the featured post!  "Just For You"

Apr 12, 2023 02:16 PM
Nick Vandekar, 610-203-4543
Realty ONE Group Advocates 484-237-2055 - Downingtown, PA
Selling the Main Line & Chester County

Wow, that is a great story and showed cool heads are needed to make things come together.

Apr 02, 2023 09:05 AM
Diana Dahlberg

Nick Vandekar, 610-203-4543 Cool heads are always the way to keep things together ... not a guarantee but truly a blessing for all involved -- in the end.

Apr 12, 2023 02:16 PM
Mimi Foster
Falcon Property Company - Colorado Springs, CO
Voted Colorado Springs Best Realtor

That's one of those "Please say it isn't so" moments. I can only imagine the shock reverberating in that previously-joyful room. Good on you for not kicking the Buyer in the teeth and having the presence of mind to secure the other deal right away. And it takes years of experience to handle situations like that with grace. Great (but nauseating) story.

Apr 02, 2023 09:06 AM
Diana Dahlberg

Ha Ha Mimi Foster ... I have to totally agree -- this was a bit nauseating -- to say the least.  Glad you enjoyed the story.

Apr 12, 2023 02:18 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Diana Dahlberg  OMG  what a horrid situation, Quick thinking on your part. So glad you were able to salvage the sale. The high was high the low was low and back to full steam ahead. So glad Kathy Streib  featured this as I missed this

Apr 02, 2023 09:16 AM
Diana Dahlberg

Thanks Hannah Williams for your comments.  I am glad you got a chance to read about this story ... an unforgettable experience for sure!

Apr 12, 2023 02:19 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Oh that could have been a disaster but cool heads a the right contacts allowed it to go forward, albeit a little later than originally anticipated.

Apr 02, 2023 10:12 AM
Diana Dahlberg

Exactly -- and well spoken @Ed Silva.  Thank you for your comments.

Apr 12, 2023 02:19 PM
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

You have just reminded me of a very similar situation - I had that buyer, Diana!! 

Glad your seller on the other transaction agreed to wait. As I told the other agent when my buyer was going through this, "Let them know 2 weeks is better than starting all over!" Thankfully for both of us, it worked out but, it could have been a disaster. 

Congratulations on getting this one done!

Apr 02, 2023 12:22 PM
Diana Dahlberg

Thank you Debe Maxwell, CRS for your comments and reminder of your own similar situation.  I believe, every person who has been a Realtor for any length of time could probably be qualified to write a book.  And what an interesting read huh?

Apr 12, 2023 02:21 PM
Wayne Martin
Wayne M Martin - Oswego, IL
Real Estate Broker - Retired

Good afternoon Diana. WOW is the appropriate response here. And all is well that ends well. Enjoy your day.

Apr 02, 2023 02:52 PM
Diana Dahlberg

You took the words right out of my mouth Wayne Martin 

Apr 12, 2023 02:21 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Oh my, and he had already put the new roof on the house. I'm glad you were able to turn their nightmare into a dream come true for all!

Apr 02, 2023 04:23 PM
Diana Dahlberg

Me too!  Marte Cliff .... this really could have been quite the disaster.  But a challenge is always well worth it when in the end it all comes together as a win/win for all parties involved.

Apr 12, 2023 02:22 PM
Kevin Vitali
EXIT Realty Beatrice Associates - Middleton, MA
Helping Massachusetts Home Buyers and Home Sellers

Great job holding the deal together.  I do have to say the past few years many closing have there own set of challenges.

 

Apr 03, 2023 10:44 AM
Diana Dahlberg

So true Kevin Vitali ... we will always remember these past few years!

Apr 12, 2023 02:22 PM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

What a shocker...at the last possible minute!  At least he was honest about the job loss! Glad your story had a happy ending.

Apr 03, 2023 01:53 PM
Diana Dahlberg

All is well that ends well Mary Hutchison, SRES, ABR ... Thank you!

Apr 12, 2023 02:13 PM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Diana, and THAT is why you get paid the big bucks!   Good job in making it all happen and CLOSE, you rock!

Apr 23, 2023 10:02 AM
Diana Dahlberg

Thank you Joan Cox -- I always appreciate your kind comments!  

Apr 24, 2023 06:10 AM
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

I think I would have stepped outside and cried for a minute, then composed myself and gone to work. Wow! File that under "Now you tell us???"

Great job on the recovery!

Apr 26, 2023 05:36 PM
Diana Dahlberg

Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets I had my private moments of "reflection"

Thank you for reading my story!  Appreciate all your comments.

Apr 26, 2023 06:38 PM