Everything is good and the listing for sale in Maine has a sale pending rider screwed to the top of the silent real estate salesman.
The MLS shows the property is under contract and headed its way to a sit down, long table with all the cushy chairs for the final transfer paperwork.
You are not out of the woods.
Just because a deposit to buy has been put down as earnest money.
And all the pages of the purchase and sales agreement contract are initialed and signed the right way.
There are many steps in the real estate candy land game.
To get to the finish line.
More in the property listing sales that involve a bank.
And the pickiest programs for mortgage loans are the no or low down payment ones.
So it is not negative thinking or failing to be a positive half full glass approach to the matter. That causes the concern. All along the way.
Often the real estate sales that seem to be going the smoothest are the ones that worry an agent or broker most. Because we are expecting the roll up your sleeves and hard work from listing, marketing, selling. To continue all the way to the closing finish line.
Because the back and forth dickering, negotiating to find out how much real estate price wiggle room there is has everyone tired, maybe irritable and bloodied.
From the tug of war, back and forth. To put together the real estate sale that actually closes. And all the paperwork gets recorded in the local registry of deeds in Maine where the property is located on the planet.
Cash sales have few layers of players like the Maine bank real estate loans.
But like any operation, time is critical. And the longer the sale pending lingers, lots of complications can happen. Like the three "D"'s. Death, disease, divorce.
Maybe the property listing buyer decided to buy a new vehicle, take an expensive trip with too many plastic swipes of the magnetic strip.
So now their debt ratios flip flop severly.
And what they did qualify to buy last week is no dice this following one.
Or the dreaded pink slip gets dropped onto the center of the table.
Which now means no money to pick up the tab at the Maine real estate closing.
Double shifting gears and the loud blat of a engine jake brake heard as the pending sale blows apart. Hops back onto the MLS real estate property listing carousel. Once the "I do" changes to "not going to happen... NEXT!".
Owner financing Maine real estate sales are easier than the ones where a combination to the big vault is needed. To release the funds needed to get the seller of the property listing to let go.
For the sliding of the keys please.
The check showing the bottom line of the HUD-1 settlement statement figure that the former property owner gets to leave the closing with as he or she, they head to the parking lot. And on with their life. Or to another real estate closing when it is property listing dominoes.
Title problems, disputes over the boundary lines or right of ways to the property listing can raise their ugly head.
Causing delay, sale derailment of real estate that was under contract. But not anymore and before a new buyer for the property is located, hold your horses.
No one is going to buy.
Especially if a bank lending mortgage maker is involved in a deal with a title.
That has a black cloud over it.
Or several of those title issue clouds causing dark days and a very slim chance or odds of ever closing.
Unless someone buys it in a fire sale low to the ground price legal steal. Because of the risk attached to the property purchase.That most would not touch with a pole even longer than ten feet.
Or when title insurance coverage is not available because just too chancy, too severe. Or flood insurance too pricey and forget the sale now Mister Seller. Unless you want to pay the hefty annual coverage premium for the buyer year after year.
People are involved in the real estate property sale process. And we are all different, all emotional to divering degrees.
And the chemistry like any relationship can be good or bad. Or somewhere inbetween.It can be pleasant or like herding cats.
Past history and bad blood in estate sales with feuding family members can all turn up the volume to a very high painful pitch for all in the real estate sale to experience.
The elderly property owner who wants to sell one day. Second guesses that decision the next. Added that to the mix with a buyer who is barely able to swing the loan.
Just doing it by the skin of their teeth and no extra funds or time to pitch in when something extra crops up.
And their sleepless night worry causes the demands barked for the other side to do this, this and that. The pressure, expectations can be all wrong. The real estate sale can start to wobble.
Because both parties who don't do this real estate sale hokey pokey everyday are getting upset.
Taking details, the development personally. Blaming the other for the added list of repairs, etc. When it's just the bank appraiser that is doing his or her job. Just following, listing the mortgage program requirements for the property being used as collateral for the home loan.
Pointing out the peeling paint, the missing step raising, GFI in the bath and kitchen, septic too close to the well, encroachments with zoning set backs, etc.
Compliance with the game rules of mortgaging today has to happen. Someone has to do the chores, updates. And when no money on the buyer side, the seller saying I am already doing too much and having to move out too fast.
The process can bleed out like folks that find themselves wearing an oxygen mask.
Flat, laying on the operating table patients, their medical personnel always have to be concerned about the precious seconds ticking by.
Break down does happens if cool heads don't prevail. Confusion without communication causes damage too. And the real estate closing looks more and more unlikely if the information is wrong or outdated.
Up to date details and what everyone is doing next, where we are in the sale now is critical.
To keep everyone in the boat.
The one heading to the real estate closing.
Until the last real estate straw is dropped that breaks the camel's back.
And time for the white toe tag and clean sheet to cover and deep six this particular deal. Nice try, just not going to happen. We don't give up easy. And the longer, more time involved the harder it is to throw in the towel.
But someone has to let the parties know stop the real estate CPR.
The got some bad news part of my job. It is dead, been dead and the healing has to start in accepting it. Or trying new methods now or at a later time when that is the only option. Unless Mom and Dad step in to co-borrow or ante up the cash to make it all better.
Some property title attorney lawyers are faster than others.
Many bank's have processing centers far away from the town, county, state and that delays the request for service providers. That work hardest for the close to home, bulk of their business.
Here is a list of Maine banks we use in mortgage lending on houses, other types of real estate property listings.
We run the interference, see the real estate playing field.
To keep all the pieces where they need to be. Everyone as much of a team player as possible and reminding.
Let's tackle, stay focused on the real estate problem solving and not attacking people involved in the process. Of the listing to closing the Maine real estate property sale.
MOOERS REALTY 69 North Street Houlton ME 04730