Real estate sales in Maine, the roadway from listings to closings has delays, detours, problems to work through.
That going in you expect could happen but hope they don't just the same. It is never fun, good news to deliver, to let the seller of a Maine property listing know we have a title problem. Or a surveying issue has come up from the title search.
The line problem you bring up where the seller says "Oh yeah. Forgot to mention during the listing that situation existed with a bordering property owner dispute years ago. And about those two right of ways not mentioned in my deed too."
You groan, dust yourself off. Work through it together. Sometimes when neither the seller or the neighbor know the true location of a line.
Because the hedge row, rock wall or gravel pit esker, horse back is long gone, removed. Then we try the how about this is the line and each side sign, notarizes a release deed for anything they own on the other side. To define the line best.
Then a surveyor shoots, marks the coordinates of that agreed, crystal clear line location. The paperwork is all recorded, put in the archives of the local Maine registry of deeds.
Or the old never used, parties that had those original right of ways in the Maine real estate deed long gone, six feet under. Not likely to be used again from forty year title growth, vegetations, disrepair. Since new easier access roads from the other side of the property are all in place.
Old right of ways still on record, but from during an earlier time they needed them.
Well maintained. Back when not hibernating, in use. So maybe exploring getting those old defunct roadways easements criss crossing the Maine land signed off. To revert back to the current Maine land owner if someone just asks. Or waves, flashes a little cash for gentle persuasion.
Often the news to share is the Maine real estate property did not appraise for enough to please a bank.
To match the figure on the purchase and sale agreement.
Or the list of repairs to fit a finnicky Maine housing loan program is just too large, expansive, expensive. For the buyer who can barely afford the Maine real estate closing costs, property tax and fuel heating oil proration.
For the seller who says don't look at me. I am selling the property "as is where is". If it had all those improvements, renovations the appraiser asked for, wants to see in place before closing, it would not be in this Maine house price range.
Working through obstacles, kinks in the housing, whatever property type is being sold hose.
Wrinkles in the behind the scenes with the people and problems that go hand and hand with Maine real estate sales. That is the most challenging part of our operation. Because the clock is ticking, time is money.
Buyers and sellers only have so much of a sense of humor, patience, time to waste.
And better situations for buying, selling come along. Life event setbacks like divorce, death, lay offs all start causing derailments to happen. If the problems can not be solved to everyone satisfaction in the Maine real estate sale triangle.
With the tempers building, getting short. As frustrations escalate because everything in life has been put on hold. No one likes to wait.
Some folks less than others. With shorter fuses. And it's what makes trying to hold it all together in a Maine real estate sale a challenge. People skills help. Setting expectations, communication is everything.
When a title problem kills a bank financed home sale, it does not mean no one would buy the property with the legal loose ends.
These kind of titles where just not worth hiring lawyers, trotting up and down court house steps for both sides of the court case defense become good candidates for multiple buyers.
Buying in a pool, usually family or sporting friends that each chip in a small amount. And justify the risk with if I use the place, the property with the hunting camp three or four times, I have what I would have shelled out for motel or lodge cabin renting. Am breaking even or further ahead.
And knowing the other side of the legal action teeter totter has to belly up to the BAR to fund, fuel the litigation.
Kinda like two spiraling cats. In time, folks die, property owners next door change and life continues. But opening up new possibilities to eventually fix the title, boundary disputes, right of ways, the whole nine yards.
Cheaper, easier and without so many billable hours for an attorney and litigation costs with no guarantee how the chips will land when it is all said and you announce "I'm done".
Maine real estate problems, glitches happen. But property listing, selling experience helps see them clearly. And avoid them all together. Or provide the best real estate maneuver work arounds for the task at hand in how to handle them best.