We are already 14 days into the New
Year and I am pleased to report that there appears to be a little real estate
action in Grand
2010. We are receiving inquiries on our
web site from buyers, our sales agents are showing property and buyers are
making offers again. It is by no means a
robust real estate market but there are positive signs that we are on the road
to recovery. It is still a buyers market
and there are not that many deals around so if you are a seller or a buyer and
you are involved in a deal and getting ready to close the transaction
remember what the Baseball Great Yogi
Berra said “It ain’t over till its over.” He wasn’t talking about the real
estate closing table but he could have been.
closing table is the ideal place to sign papers, trade keys and drink a toast
to the new homeowners.
that setting is filled with tension and pressure as each side tries to work out
important details of the transaction at the last minute.
can you help make your closing a relaxed and happy one? First, try to get the
details worked out ahead of time with your realtor.
There may be a few unresolved issues,
such as repairs that were not completed, a disappearing dining room chandelier
or an occupancy agreement.
The atmosphere doesn’t need to become adversarial, and a minor upset
should not threaten the inspection.
If you anticipate a problem no matter how minor it may seem you should
be able to communicate the situation to your realtor in advance, so that it can
be handled before it goes to settlement.
Some buyers and sellers arrive to the closing feeling terrific about the
transactions- they like each other, they like their new home, their realtor,
and even the lender. Others feel stressed out and concerned.
Weather you are the buyer or the seller, you will play an important part
in determining which of these scenarios characterizes your settlement.
The professionals who are involved in real estate transactions work hard
to make things go as smoothly as possible, but quality of the transaction often
depends not so much on what happens, but how you react to what happens.
If you communicate confidence in the professionals who are helping you,
the atmosphere will remain positive even if there are complications.
Real estate transactions are inherently complex. One of a Realtor’s most
important responsibilities is to complete the sale even if there are obstacles
Both buyers and sellers should be aware of the deadlines in their
You could lose your right to ask a seller to pay for needed repairs if
you miss the deadline. There may be a limit on the time the seller has to
respond to the buyer’s request to complete repairs that are not required by the
Failure to apply for your mortgage on time may place your deposit at
risk if the loan is denied. In many cases the agreement can be declared null
and void by the seller if financing is not approved within the time frame set
forth in the contract.
A delayed closing can cost the seller money, and they may ask the buyer
to reimburse these expenses.
Remember that closing dates are not set in stone. Lenders appraisers,
attorneys, and anyone else who is involved in the transactions can cause a
delay in the closing.
If you keep this in mind while you are making your arrangements you can
minimize the possible cost and inconveniences due to a delay.
As the closing approaches a good realtor will stay on top of the
situation and keep in touch with everyone involved in the transaction to
prevent any unnecessary delays.
If there are any problems speak to your realtor and let them try to work
out the problems before they turn into deal breakers because no matter how
close a deal may be “It ain’t over till … Until next week.