Navigating the Neighbor ~ Part II

If you followed my first blog post on the topic of navigating an interesting neighbor situation, this is a follow-up to that story. Buckle up, friends, as this is going to be a bumpy ride! Real estate is never boring!

The neighbor did reach out directly to me yesterday, letting me know that she was interested in purchasing her neighbor's home, which happens to be my listing. While typically this could be an ideal situation, there are many "red flags" to navigate.

🚩 While I would never pre-judge someone on the phone regarding "competency", it was immediately evident due to slurred speech, erratic comments, and repetitive questions. Of course, each of these situations cannot be confirmed from a phone call.

🚩 The neighbor let me know numerous times on the call that she is on serious pain medications from a previous surgery! This admission alone causes me to be on high alert as there is no way I will be a part of a transaction with her without her attorney or another agent who will represent her.

🚩 She asked me to come by her house the next day. After contacting my sellers and letting them know the current situation, I agreed to meet her today. However, I am going into this appointment with an open mind, well-prepared, and with an attitude of compassion and care.

🚩 I have let her know clearly that I ONLY represent the Sellers. If she desires representation, that is her decision, of course. She let me know that she has an attorney she works closely with. My goal today will be to get the attorney's contact information and discuss the possible purchase with him directly.

🚩 In Texas, we are allowed to represent both sides of a transaction with proper paperwork and disclosures; however, this is not an area of my practice that I will engage in. When I take a listing, I explain to my sellers that I represent THEM. My reasons are clear - we live in a very litigious world.

🚩 I will provide the neighbor with a customer printout of the listing and include an Information About Brokerage Services form. My sellers have given me permission to let her know that they will certainly look at and consider an offer from her.

Stay tuned as this story continues to evolve. In representing my clients, it is important that the correct steps are taken. If this does result in a successful sale, this is great for both parties. However, in order to get there, this situation calls for every aspect of this transaction to be completed properly and with great care. 

Of course, all of our transactions should be executed in the highest of standards. Every now and then, a very unique situation comes around that requires everyone to sharpen their pencil and stay alert to potential issues. Bottom line, never lead any transaction with dollar signs in your eyes.