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The Perfect Settlement!

By
Real Estate Agent with RLAH@properties AB95346

This morning, I scooped up a favorite buyer and we were off to Federal Title, where we were finalizing the sale of the new condo he and his wife are buying.

These buyers are major foodies.  And I found them a beautiful place with an amazing kitchen, and the Georgetown Whole Foods is only a block away!  The place is even pet friendly and welcomed their little dog with open arms!

Not only was the condo perfect, but the listing agent, Judy Ross of Coldwell Banker Residential Properties, and her sellers were wonderful!  There was a lot of give and take during the negotiations, and I felt like I was working with a crew of professional diplomats!  And by the time we reached the settlement table, every single detail had been handled perfectly - on both sides of the transaction.

Then, to my surprise, Todd Ewing, the attorney (Federal Title also gave a flawless performance) came with a little memory stick with all of the paperwork on it!  I'd never seen that done, but it's certainly a good way to save trees - there are usually mounds of paper spend on a DC real estate transaction.

I think for me, the most important bench mark for a quality transaction is the settlement.

  • Did the agents do their jobs?
  • Did the lender and title company do their jobs?
  • Were all of the inspection issues handled?
  • Did the agents like and respect each other at the end of the transaction?
  • Did the buyers and sellers leave the settlement table with good feelings about each other and the deal itself?

They don't all go smoothly.  But today, I could answer each of these questions with a resounding "Yes!" 

And it feels really, really good!

Norma Toering Broker for Palos Verdes and Beach Cities
Charlemagne International Properties - Rancho Palos Verdes, CA
Palos Verdes Luxury Homes in L.A.

The stars must be properly aligned in real estate heaven, as I had two closings this week and it was smooth sailing all the way!  Congrats to you--I'm sure you played an important role in the 'flawless' finish.

Sep 05, 2008 12:18 PM
Ken Montville
RE/MAX United Real Estate - College Park, MD
The MD Suburbs of DC

I like the paperwork on the flash drive.  Nice touch. I did one settlement at Federal many moons ago but I remeber that went well, too.  Some title companies just have it down pat (pardon the pun, there!).

Sep 05, 2008 01:33 PM
Elaine Hanson
Coldwell Banker Realty - Malibu | Topanga - Malibu, CA
REALTOR - Topanga, CA Real Estate Agent

You are awesome to give kudos to all those involved in this great transaction!  I love hearing when things go right!  It's just too bad that we usually hear about the screw ups.

Congratulations to all parties involved -- may your clients sing your praises to the consumer public!

Sep 05, 2008 01:42 PM
Fran Gaspari
Patriot Land Transfer, Inc. - Limerick, PA
"The Title Man" - Title Insurance - PA & NJ

Patricia,

Good checklist for a good settlement!!! Thanks,   Fran

Sep 05, 2008 01:54 PM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Lenn, it was a rush!  During the negotiations, I had a conversation with my buyer about "setting the tone for the entire transaction," which meant he needed to give in on a small thing that meant a lot to the sellers.  He reminded me of that conversaion - and that I was right.  Real rush!

Carol, I know!  And it's such fun when one is!

Sharon, my buyers are coming in from out of town, and the sellers are staying in the area.  Both couples are really neat, smart and interesting, and I think tey will become great friends!

Cindy, oh!  And I got some totally amazing face cream this week, too!

Craig, yes!  With copies of all the papers they signed!  These guys are way cool!

Norma, I bet you are really good at this!

Ken, no,they have it down Pat!

Elaine, they are the parents of one of my oldest client's ( a law professor) law students!  It's so cool!  The son will need a place soon, too!

And Fran, I bet a lot of yor settlements are just like this one!  The title attorney here is one of my local heroes.  He is just terrific.

 

Sep 05, 2008 02:38 PM
Elaine Hanson
Coldwell Banker Realty - Malibu | Topanga - Malibu, CA
REALTOR - Topanga, CA Real Estate Agent

So, we will get a blog about the face cream, right?  Do tell!

Sep 05, 2008 04:25 PM
Thesa Chambers
West + Main - Bend, OR
Principal Broker - Licensed in Oregon

I have seen it on cds but not on these - great idea       

Sep 05, 2008 05:35 PM
Kathy McGraw
CELLing Realty - White Water, CA
Riverside County CA Real Estate

Patricia- Oh it's so nice when we have one of these transactions :)  Congratulations!

Sep 05, 2008 06:25 PM
Lanre-"THE REAL ESTATE FARMER" Folayan
Samson Properties - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Congratulations on your settlement Pat. And it was nice for Federal Title to give out little memory stick at closing. That was a great way to save paper. Great post.

Sep 05, 2008 08:00 PM
James Downing - Metro DC Houses Team REALTORS®, CRS, GRI, ABR,MRP, MilRes
Real Living | At Home - Washington, DC
When Looking to Buy or Sell - Make the Right Move

You know Pat, if it wasn't for the good/fun deals - we would all go batty after a time.  These are the welcome transactions we all love!

Also; I love the Memory stick idea for the paperwork.  Great idea!

Sep 06, 2008 06:16 AM
Debi Ernst
St. Charles County, Missouri - Prudential Alliance Realtors - O'Fallon, MO
GRI, e-PRO, Broker/Sales Associate

Patricia - I've had great experiences like that.  It is so rewarding... I'm happy for you!  :)

Sep 06, 2008 06:29 AM
John Bethell
John Bethell Title Company, Inc. - Bloomington, IN

Flash drive! Brilliant idea! I'm going to steal it!

John Bethell

Sep 06, 2008 07:23 AM
Scott Hoen
Carson City, NV
Carson City Clerk Recorder / Public Administrator

congratulations -- a lot of the title companies provide their transaction management platforms with the ability to burn all the closing documents that you can even give to the buyer. 

Sep 06, 2008 07:27 AM
Christopher Webster
EXP Realty, LLC - Columbia, SC
Columbia South Carolina Real Estate For Sale

Congrats on a smooth transaction!

Sep 07, 2008 01:24 PM
Brian Block
RE/MAX Allegiance, Managing Broker/Branch Vice President - McLean, VA
Northern Virginia & D.C. Real Estate

Pat, while most transactions and settlements have some hiccups along he way, it's always great to have a perfect one!  I've got one of those coming up tomorrow.

Sep 07, 2008 11:34 PM
Pippa Mac
Chevaux Group Realtor, The Woodlands and Spring - The Woodlands, TX
The Woodlands TX Real Estate

Patricia ... wow, it sounds like a dream come true!

Oct 02, 2008 04:49 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

Good for you! It is nice to have an easy one once in a while.

Oct 02, 2008 05:02 PM
Brien Berard
Remax Professionals Laurel MD - Laurel, MD
Maryland Real Estate Agents - Laurel Real Estate

Wow!  That is so cool!  A memory stick?!  Why does that seem so obvious now when before I never woudl have thought about it?  Yea, those smooth transactions are great.  Love them.  One of the great things about sales is the wonderful people you meet.  Wonderful in the sense that they give you a new perspective on life and business.  And ofcourse, I love hearing about great new ideas, like a memory stick.  I think I am gonna mention that to the title company I use......but I will make them think it was my idea!  Shhhhhhhhhhh!  LOL!!!

Thanks again.

Oct 03, 2008 02:03 AM
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Patricia, good for you on the smooth transaction.  I wish I had a few more like yours.  Lately, it seems like nothing is going smooth and it's one struggle after another.  But your article gives me some hope!

Oct 03, 2008 12:22 PM
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Patricia, Congratulations on the perfect settlement. Hope you have many more of these in 2008 .Good luck.

Oct 04, 2008 10:24 PM