Communication Raises its Head Again-Why Is It So Hard? Blog 5 of 30!

Hi Mike- I am thinking about those poor buyers having to make that drive. We've driven 13 hours on some of our trips but they were for fun!!!  What a story!  Congratulations on the feature! Certainly a reminder to everyone to ask questions and keep asking until you know that all of the "i's" are dotted. 

My heart aches for everyone.  This is a crazy story. You would think this doesn't still happen with all the interstate and internet banking - but obviously it does....  I had a client who was paying cash for a 1.2M house and I kept telling him to wire the money ahead of time.  He waiting until the morning of closing - and then discovered that his laptop - which was from his bank employer in Beijing - was not being recognized by his bank in the US - fortunately his bank was where we were so he had to go to the bank in person to wire the money - 

I feel like the dynamic is the most important part and especially in this case. There’s no replacement for getting along well!

Hello Mike - real estate and everyday life continues to teach us lessons.  Such glitches (for lack of a more appropriate word) seem unnecessary but unfortunately are a part of ineffective communication.  

PS - congratulations and good luck to all involved on the closing.  

How beyond stressful for the buyers. Banks are becoming less and less customer service friendly. I am sure the buyers and sellers appreciated you staying on top of this transaction.

Oh my, it's so frustrating in today's environment when things have to be done in person and can't be done electronically. Those poor buyers are going to be exhausted! And probably cranky. I hope everything the rest of the transaction goes smoothly.

Good morning Mike,

What a heart breaking story. Sometimes the right questions are just not asked and a frustrating lesson ensues. We have people wire transfer all the time and they don't have to go in person! They should be glad as I hope they have better friendly banking policies where they are moving. 

Hi Mike,  what a story, and what a drive for the Buyers? How could the Buyers possibly know that wire transfers have to be made in person? Is it something banks advise when people are opening accounts with them?

I like to get the consumer to deal directly with the Title Co and to go into their Bank to set up the wiring with a Bank Employee . There is just too much Fraud where people are losing thousands of dollars ……..

Ouch! That smarts. I live in a big city and can't imagine requiring in-person wirings. It's always something.

What a mess! This entire story just galls me in that the bank can make these kinds of demands. How is this in the best interest of the bank's clients?

I read 6 before reading this so I already know the end of the out-of-town buyers story.

Asking the right questions ahead of time is prudent.

My bank here in Homer make me come to the back in person to wire any money including just gifts to family. I have several accounts in the bank They recognize my voice when I call in, but they will not wire without me being there in person. It really is ridiculous 

I better go read # 6!  Glad it all worked out for you and your clients!

What a crazy story, Mike. It is too bad that the buyers and their bank were not on the same page. In fact, it seems like that were not even on the same book.

Buyers and most sellers don't wire money on a daily basis. With all the wire fraud news we get hit with, no surprise the procedure has tightened up. Local banks and local attorneys, no matter if you are the buyer, seller or only agent/broker driving the bus to the closing.

Get the layers of players on board communicating and following up early on. Wire transfer should be on the check off list if needed from day one, not "what's going on confusion" in last few days delay because it was not addressed. 

Hi Mike:

That is a crazy story! I see from your comment that closing happened  - thank goodness, but what a trial to have to go through to buy a house.

Jeff