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
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 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!
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.
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!