Mooers Realty Maine Real Estate Blog
One More Reason The Real Estate Sales Failed.
As a Maine real estate professional, our office does everything humanly possible to get the listing to the very long closing table.
The reason for all our dog and pony is to get to the real estate closing for the property listing transfer. That needs to happen as quickly, easily and the least costly way possible for both buyers and sellers of real estate.
Time is money in a property sale and it is not a pretend play game for kids.
The costs associated with real estate sales hit the wallet or purse hard too.
Have to be paid whether a sale happens or not. Ouch!
So blog posts, videos on pricing, marketing the real estate is so important have been hunt and pecked on this channel.
Lots of blog posts on what can go wrong in real estate listing, selling and how to see the red flags, avoid the quicksand too.
But one topic is often overlooked in another leading cause of a real estate sale derailment. Making the transfer like a house of cards.
Possession of the premises, the property by a tenant, an owner that just won't go. Says they will, knows they won't.
Sometimes because of seller's remorse. Not just buyer's have remorse and develop cold feet don't ya know. Tenants can be a family member which is even worse.
Because in many cases they don't pay rent or stopped long ago and the subject of moving them along is a touchy one with other family members.
Like missing the opportunity for anything in life because the window to take the steps was not taken. Folks let you treat them the way you enable them to manipulate you.
Especially if on the other side of the family and resentment about you never liked my half of the brood. It happens a lot.
The son or daughter who are living rent free, with other costs of water and sewerage or heat or power are living the life of Riley. They get used to not paying rent. Use the money for something else more entertaining.
They can justify being at the premises because they plan to inherit it someday anyway.
Grew up here and it can feel like home sweet home.
So please don't rock their house boat.
Their animals all settled in and look at the stuff in that packed garage.
The thought of moving it all and where makes L3 and L4 hurt.
Like a mental hernia happens.
If the place is being heated by the tenant, lawns mowed and the insurance company is happier with someone there to turn on and off the lights, hold up.
Over a Maine winter, the tenant that may pay a reduced rate or none but that is carrying the place, keeping it heated, paying for lights, snow removal and generally keeping an eye on the sticks and bricks is a good thing.
They become like a Mister Green Jeans, handy man sort of Red Green kinda guy on the premises full time.
They subsized the carrying the mortgage or financial burden of the real estate in question.
Also if the tenant is willing to let the property be shown with reasonable notice, that is listed for sale and if they keep it up to snuff, neat and clean. Then this can be a good arrangment. Win win happens. Especially if they want a short term arrangement and don't want to hang around long.
But the time to go, when the sale starts to teeter because they dig in and plan to stay until the time is right to move for them, not the owner. Now we have a real estate problem. A big headache that is not solved easily.
Cash for keys and everyone goes along cool, calm and collected is one incentive. Often they don't have the money to make the move. To pay the security deposit, first and / or last month's rent on the new digs.
And when they look around at all the stuff they have accumulated, it is easier to just not think about it.
To sit on their hands and say wait a minute.
I have rights, they can't just boot me out and make me scoot without court house steps.
And crank up the due process of law process for an eviction judgement and then the return to the court room when they don't move and stronger measures are taken to enfoce the order to vacant the premises. Do it now.
(Sound of tear gas cannister lobbed inside an open window with a hissing sound of the eye stinking cloudy release.)
The tenant with cable or dish all hooked in, eveything moved in does not just flit unless they want to, have to and that is why underestimating the rights and resolve of a renter that digs in is foolish.
Had one house where a stubborn tenants that heck know I won't go happened did when a chain saw was used as a little incentive. But that is a blog post topic for another day. Highly effective, totally illegal though. But highly persuasive.
So the dear old Dad that tells me the listing agent that he can not make his grown kids leave the nest.
Is afraid they will hate him. Never speak to them again. I explain that hold the phone.
Don't bother entering into a real estate property listing unless the gumption to make them move, all the measures available are going to one by one be put into play if they don't. If there is hesitation and flat out statements that they won't move without a battle.
The listing sale now is the least of your seller's worries.
Move it on over, getting the place empty and repairing damage, carrying the place until it is marketable becomes the new worry.
I tell them about tough love, to help them get started along the path outside the comfy nest.
And that in the long run they could let them stay, not sell until they are good and ready to move. As the property goes down hill from lack of repairs unless he continues to foot the bill.
But listing the property in Maine when the real estate tenant in possession is not going to move. That is one expensive situation that does not end well.
No sale, all the cost of marketing, getting a buyer enthused and watching them come and go on to another property listing that is available for possession. Without the rigamarole and hassle of costly delays and holding up the real estate house show.
Don't ever assume the tenant will move and always consider what if they don't in your real estate sale.
If the person in possession is not paying rent, using the property hard, why would you continue to let that happen and not move on to an eviction if they don't go away from the property peacefully?
So a new buyer can make the move back into the real estate listing needing a property sale for the pass the keys please.
MOOERS REALTY 69 North Street Houlton Maine 04730