Mooers Realty Maine Real Estate Blog
What Went Wrong |The Post Mortem Of A Real Estate Sale.
Real estate listings that don't make it to the property closing happen for lots of reasons.
Failed attempts to actually close on a sale despite the best efforts. Why causes a real estate sale to fail? Sometimes caused by man, other times by circumstances that become just too great to keep the sale going.
There comes a time when pulling up the white sheet and toe tagging a real estate sale has to happen.
So the efforts to sell are not just bogged down with a sale kept alive only by artificial means. The quicker the red flags are seen, counted up and decisions made to change directions, the better for the buyer and seller in the long run.
We like to be positive and showcase the right steps to take along the way. But sometimes what to avoid seems to be taken more serious. So nothing gets glossed over.
Nothing is made to look so easy that the blog post reader figures ninety nine percent of real estate listings become property sales with big bold SOLD's riders topping the lawn signs out front.So who has a part in the success or failure of the real estate sale? Starting with the seller. What mistakes do real estate sellers make? It starts at the listing and how the property is priced.
The expectations of the seller if unrealistic have to be discussed. But if the agent, broker spends days going in to attract the listing, hours at the property to get a property written up to sell, it is hard to throw in the towel.
But when the seller starts to holler "I'm not going to give the property away" when the value for it has to be reflected in the listing pricing, that is a big red flag.
Should I stay or should I go? Can I help this seller? Because an over priced property listing won't sell. No matter how stellar the marketing, staging, imagery or video, the descriptive efforts.
Sellers want to know "how long does it take to sell property".
Specifically this particular piece of real estate needing to be sold.
So the seller can make decisions, to get on with his life that involves real estate transactions.
The buyer has a role in the rise or fall of the real estate sale too.
Or or seller's remorse in real estate sales.
And the property owner of the Maine home takes his face in both hands. Moans "what am I doing, now that I have a Maine home real estate home buyer and just can not pass them the house keys after all".
Thought I could but went taken up to the edge of the closing later this week, just can not do it.
Calls come into the agent or broker with a curt "come get your real estate sign, we're done and simply can not follow thru with the Maine home sale" are made.
Then unraveling, untying the knot that binds the deal that has blown apart is the new housekeeping chore begins. Which is so the opposite of doing whatever it takes to keep the real estate sale alive and on track for the closing.
Fighting over a property deposit, seller does not want to pay the lawyer fees for paperwork generated when he signed the purchase and sale agereement.
Caused because he signed a listing on the real estate before that to kick all this hoopla, razzle dazzle into gear. When the decision make to list and sell the place seemed like the right thing to do in his head.
But his heart got involved. The two apparently were not in tuned. To get it sold quickly, to get this property sale closed. And put on record at the local registry of deeds where the Maine home is located.
Hot to trot but just not ready. So the now comes the buyer not ready, not qualified to buy the real estate.
Means getting pre-qualified for a real estate sale is critical. Making sure the property is ready to sell on the seller's part is too. Removing clutter, cleaning up and making the place presentable. Just like when company is coming over for a party Saturday night.
And fixtures in real estate, what is personal property? Making sure that something removed does not up end the property sale. Because the buyer thinks the place is being stripped. Or things promised in the sale are suddenly disappearing.
I have seen an heirloom lap in the dining room that was not mentioned during listing, not addressed on the purchase and sale agreement cause a major shift in which way the wind blows in the real estate sale.
Legal, title problems besides a low appraisal figure can weigh in and cause damage to the odds of a real estate sale actually happening. Encroachments, easements in the real estate sale never are easy to swallow and digest.
Death, and another big "D" ... one more big factor that can throw a series of wrenches into the real estate sale.
Divorce in a real estate sale can cause everyone to throw in the towel.
And to head to the corners for the legal spiraling that involves splitting assets, custody battles and lots more in the tug of war to rip and pull the partnership apart.
The matchmaking of a real estate buyer and seller is a wonderful experience.
When with hard work and everyone knowing their roles works together.
The real estate professional has to know the dance steps and be able to think on his feet.
To change the tempo, move to the side to avoid obstacles or to learn how to avoid them before they arrive on the real estate scene.
Real estate is highly emotionally, involves people of all types and temperaments. The process has major deadlines and reality television series that makes it look easy, everything wrapped up in a half hour show, is not helping.
Shooting yourself in both feet. What killed the sale, caused the post motem autopsy report with your name, your property in it? Knowing enough to be dangerous happens in the list and sell because someone's cousin has a mom who is a retired real estate agent many states away.
Look out, be aware and everyone keep their eyes on their own paper.
Needless energy put into areas that should not be coming up. "He said she said" when conversations are no all funneled through the real estate agent or broker hurt the process too. Avoid being in the post mortem of a real estate sale discussion. Stay close to the real estate agent, broker, REALTOR who guides the process from listing to property closing.
MOOERS REALTY 69 North Street Houlton Maine 04730