REAL ESTATE DEAL KILLERS!

So You THINK You’re Closing and Moving Into Your New Home Next Week?

Well, Maybe You Are…

and MAYBE YOU’RE NOT!

If your Realtor hasn’t dealt with several common DEAL KILLERS…

YOU WON’T!!!

Many people think that purchasing a new home is just a matter of selecting a home, making an offer and hoping the seller accepts that offer. However, in reality, the real work only begins when a seller accepts a buyer’s offer to purchase.

The fact is there are typically 12-15 primary parties involved in a typical home sale. Additionally, there are many other parties from which information must be obtained in order to actually bring a real estate transaction to the closing table. PROPER COORDINATION & MANAGEMENT OF THESE PRINCIPALS, AGENTS AND 3RD PARTY COMPANIES IS CRUCIAL TO HAVING A TIMELY AND SUCCESSFUL CLOSING ON YOUR NEW HOME!

This is EXACTLY why over 30% For Sale By Owner (FSBO) sales transactions fail to close…The parties don’t have an experienced professional who knows what needs to be done, or how to coordinate in a timely manner all the activities required to bring a real estate transaction to a successful closing.

Unfortunately, there are also many sales facilitated by inexperienced, or unknowledgeable real estate agents who lack diligence and attention to the detail which will inevitably result in unnecessary frustration for both the home buyer and the seller. However, a home buyer will ultimately get over the stress and frustration if the sale gets to the closing table. It’s the real estate transactions which end with the buyer being unable to purchase the property that can be DEVASTATING to all parties involved!

Can you imagine how you would feel if after weeks of answering lender questions, providing them document after document, and spending hundreds of dollars on appraisals and inspections; after weeks of packing up your old place, registering your children in the new school, arranging for utilities to be transferred or turned on, and maybe even picking out new carpet, paint, furnishings and appliances for your new home. THEN…You get a call from your lender saying “We’re sorry, but we cannot write a loan on the home you are purchasing.” “The house does not appraise for the amount of the Purchase Agreement!”

Or, they say “We cannot approve your loan because we just received a report (that should have been obtained four weeks ago) that will cause an increase in your expenses. So now, you no longer debt-qualify for the loan!”

Do you think this doesn’t happen? I assure you it happens EVERYDAY! But how? The fact is, home buyer and sellers are not experienced in the ins and outs of coordinating the many different rules, requirements and guidelines of transferring real estate. Let alone, the complex jungle of guidelines required by lenders to write a mortgage these days! Even a short delay in requesting any one of the reports, or certifications required by the lender or Title Company can EASILY result in you experiencing the scenario described above.

Think about what would happen if you have already given up your lease; or your current home is under contract to be sold next week. What are you going to do?

You might think “I don’t have to worry about this. I am not buying a For Sale by Owner property. I HAVE A REAL ESTATE AGENT!”

Well, that was a good decision. But, so did all the people who are reflected in this graph put out by the National Association of Realtors!

So what happened? Well, quite frankly, the simple failure of an incompetent, lazy or inexperienced agent happened! A few simple reports that Smart Move Agents prepare in advance of, or shortly after receiving an accepted Purchase Agreement on behalf of their clients may have stopped 90% of these contract failures – and the resulting nightmare that may have resulted from them!

The fact of the matter is that there are many obstacles that can hinder a real estate closing which cannot be known until a specific report is obtained. An unknown lien or Minor’s Mortgage against property may not be known until the title search is completed, a termite problem or bad wiring may not be known until the termite inspection and home inspections are completed. A higher than expected payoff of the seller’s mortgage may not be known until a payoff request is received. However, how your agent handles and remedies these situations will set them apart as a true professional!

A professional Listing Agent will preemptively obtain many of these items in advance of ever accepting a buyer’s offer to purchase!… SMART MOVE DOES!

Smart Move agents are consummate real estate professionals! They is also highly trained in Smart Move Real Estate’s SMART MOVE SELLING SYSTEM. If you don’t choose to use a Smart Agent to handle your real estate transaction; at least make sure you are hiring another experienced and knowledgeable professional!

HAVE YOU BEEN TURNED DOWN FOR A MORTGAGE? The fact is NO does not necessarily mean NO! It just means that the lender you applied with will not write your loan! Smart Move Real Estate works with lenders that can turn a NO into a YES!