Property Review: R for Answer

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Last week I wrote about questions and how important it is for sellers and buyers to be fully informed, and that the best way to do this is by asking questions. So what about the answers? How should a seller or buyer react when asked a question or find themselves in an unexpected situation?

My mind works in a funny way. It almost never turns off, and songs, yes songs, often come to my mind when life happens. Mostly great songs like “Morning Has Broken” when I see a beautiful sunrise in Fallbrook or when

Rocky escrow closes: “Oh happy days.” But the song “You Don’t Mess With Jim” came to my mind after a week of madness that led me to this response topic. Hope you enjoy my humor. This is what I refer to regularly during my real estate week.

The lyrics go like this:

“You don’t pull on Superman’s cloak,

you won’t spit on the wind,

You don’t take the mask off this old lone ranger

and you don’t mess with Jim, ”which my husband Chris quickly replaced with Kim.

Sellers and buyers often do all of this when they begin to believe more in their controlling position than in the trajectory of the transaction. What exactly did I mean? Imagine this; you are a seller and you are in escrow 5% more than you originally wanted. The buyer has all the cash, does not require any appraisal, and is willing to give you extra time to find your replacement property. Sounds like a surprisingly good deal.

But then you, the salesperson, decide that you don’t want to do many of the requested minor repairs, the microwave breaks down, and you decide to replace the old one from your garage and it doesn’t even fit. properly, and then, one final blow, when a buyer asks to see his sister see the house for which he is in escrow, you say no. This salesman just jerked, spat and pulled on the mask, and then guess what? The buyer went. Guess what? Karma intervened and this seller is not showing up now.

How about this: you are a salesperson and you get a cash quote without prior evaluation. The buyer asks the seller to pay for the $ 520 home warranty. Seller counter offers to pay only half

Home Warranty Cost. What kind? Let’s talk over $ 260 worth of spitting in the wind. You cannot come up with this.

The last seller’s story is truly incredible. The seller bought his house nine years ago. He lists his house in the hopes of more than doubling his money and almost tripling his investment, as the sale price is significantly higher than

expected. Competing with multiple bids, the winning buyer is offering free rent back so that the seller can check out one week after the close of the escrow, and without the contingency of an evaluation. But wait, then the buyer will cancel because he gets

divorce.

I don’t know about you, but I don’t think I’m thinking about buying a house if I’m also thinking about divorcing my wife. Can’t think of it. The first customer cancels, so we call all other agents who had customers who submitted offers that were not selected. One of these buyers still wants a home. The price is the same, quick closing, no renovation. The seller is excited, but before he signs the contract, he thinks that perhaps he would like to rent out the house instead of selling it. The only problem is that he has a contract that explicitly states that if he chooses not to sell the house, he owes a commission. You don’t take the mask off this old lone ranger.

It is clear that salespeople are not alone in this song. Buyers do their best to screw things up.

Imagine: a buyer wins a house. The buyer wins because he is in cash, no evaluation. Home is a 1970s vintage reworked from bow to stern. The floors are tiled with Saltillo tiles, some of which have cracks reported by the seller. Agent pointed

to the buyer when he first saw the house. The buyer returned a second time to visit the house and again pointed to cracks. The buyer inspects the home and then submits a repair request, which includes

request nearly $ 10,000 to replace cracked tiles and redecorate the entire floor in the entire home except bedrooms.

Speaking of pulling on a superman’s cloak and spitting into the wind, this request could derail the whole deal. Fortunately, calmer heads prevailed and the deal closed … “Oh, happy days.”

Another great customer story goes like this. A buyer competes with five other buyers to obtain a flawless property. This buyer is doing everything they can to win the deal. The offer is all cash, the price is $ 100,000 higher than the price the sellers wanted, and all contingencies, including pricing, are excluded. The information was sent to the buyer on the day the seller accepted the offer.

Just five days before the closing of the escrow, a buyer asks for a lower purchase price for a 29-year-old roof, a fact that has been known since day one. Call it what you want, these are all three phrases. Fortunately, a simple “no” on the part of the sellers ended the discussion and the buyers purchased the home in accordance with the terms of an agreed sales contract.

So what’s the moral of this story? These texts are the truth of life. I ask myself every day, why do people try their luck? Why are they poking the bear? Why are they pulling on Superman’s cloak, spitting in the wind, or removing the mask from that old lone ranger? Because if you do, you might have to tinker with Kim.

Kim Murphy can be contacted at [email protected] or 760-415-9292 or 130 N Main Avenue, Fallbrook. Her brokerage license is # 01229921 and she sits on the board of directors of the California Association of Realtors.

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