Real Estate Sales In Maine, What Is Not Talked About Much.
Real estate sales are a delicate operation and many smaller not talked about so much topics don’t get the black ink they should.
And equal treatment with real estate seller blunders done with or without knowledge of the severe consequences affecting whether a property listing gets to the closing conference room table or not.
But besides the clean it up, price it right and be ready to show at the drop of the hat, on a moment’s notice.
There is much more to add to the real estate buying and selling discussion.
Way way more. Enough for a series of posts on just this topic of what red flags to look out for and the ones you just don’t see. Even the real estate professional learns new tricks each day. In the passion, some call jealous addiction of property listing buy, sell, trading.
So skip the staging, the realistic pricing and all out marketing do’s and don’t and let’s toss up for all to see a few more situations that can raise their ugly head.
In listing, selling real estate in Maine, anywhere on the planet or solar system.
First and foremost, real estate does not get bought and sold without a lot of people involved. With bank financing especially, more layers of players have something to say. They are all gatekeepers.
When the guys and gals with the combination to the bank vault, holding the purse strings raise a concern and their eyebrows one by one get hoisted. And some new wrinkle is introduced in the real estate sale to add to the woes and concerns.
Like in life, you can not please everyone and there are limits to patience and resources of time and money in a real estate sale.
People sit down, give up.
Get up and
walk if they don’t get what they want.
What they think they deserve or expected. If their needs are not met in a timely, efficient and pleasant manner.
Tempers flare big time.
And the finger pointing to blame others starts to become a big part of the damage control, the communication to keep everyone on the same page.
Setting expectations of this is where we are now and what we have for options to move forward. To keep moving toward the coveted real estate closing that may have a lot of bloodied players in the room but we made it.
The real estate marathon of setbacks and twists, turns is finally over. And a closing finally happened to get the property listing off the current inventory or pending rolls.
So little things, the not so obvious to the casual observer of a real estate sale that come up.
The list most generally concerns people. Renters who are supposed to move and don’t . So the bank says no dice. Stop the show.The lawyers too because to close on a property with a renter in possession, even if the tenant is the owner who says they need till the weekend to high tail it.
No one wants to take the chance of a long drawn out eviction process that is costly. Ties up the property. Whether the buyer stays onboard or not.
Tenants in possession that are suppose to pay the rent to subsidize the place for sale if not totally carry a property with a mortgage on it being sold.
That tenant is not so hot on moving again and can be a road block to showings. Keeping the condition of the property poor. Making sure on purpose it is unpresentable and lacking appeal with foul smells.
They can squeeze and exploit the situation and flex their muscles as if they own the place. They kinda do with tenant landlord relaxed laws that are off kilter and pro renter.
And his dog(s) sniffing, barking and scaring buyers that worry about being bit by the dog, not smitten with the house. That dog that is on the list of five that insurance companies spell out as a no no and cause a cancellation notice to be mailed out. No insurance binder, no financing.
The loose ends with the property like no GFI outlet in the bath or kitchen. No railing to the cellar or at the front and back door steps. Who is going to put the rain gutter back up, replace the missing drain spout that makes water head straight into the cellar and giving it a moldly smell?
The real estate buyer can say don’t look at me, no money in my pocket beyond closing costs that most already came from the seller. The seller of the property listings responds “I’ve already bent over too far backwards and enough is enough”.
When the appraisal report comes in low and / or the list of fix this, this and that is just too long.
Too expensive. But needed to be complete for the appraiser of the property listing under contract with a sale pending that has to have no loose ends.
For the clear to close and the memo of a time and date and where the real estate paperwork shuffling is going to take place.
The loss of a job in the works and causing the relocation and thus the sale of the property takes it’s toll. When the seller retreats and decides to stay in the home sweet home he already is making mortgage payments on.
Divorce papers served also can put a wrench in the works when the property sale is bogged down in the negotiations. And when one of the parties is not letting go and needs a place to stay with suddenly half the resources in the family budget cut in half to manage all the obligations.
Sickness is another area you don’t plan on and because the focus is on making sure the property buyer is found, the place appraises if bank financed.
The sticks and bricks are not the only item needing attention. So do the buyer, seller when life situations present a new challenge.
Title problems, those come in all shapes and sizes and often are lurking in the examination at the registry.
As they come out in the light of day when the big heavy books of real estate history are hefted, opened, and what is discovered is shared for all involved in the property listing pending transfer.
How many other homes like your for sale is another factor you the seller can not control. The plant shut down and sudden exodus of property buyers from the local pool also changes the atmosphere of a real estate property sale.
A better place comes along and a home inspection loop hole makes it easy to cut and run. That happens too and folks take care of themselves.
The days of what about others and looking after number one are shifting. At least in the circles I travel and from what I see happening in the two sides of a real estate property sale teeter totter experience.
Fighting over personal property that was suppose to stay is one of the biggest culprits of real estate sales gone bad.
That suddenly starts disappearing, walking away with the help of every Tom, Dick and Harry that calls in favors and the seller says help yourself.
That sours the relationship between buyer and seller and can cause the under contract sign rider to be removed and the real estate property to be re-listed as currently available. Again.
MOOERS REALTY 69 North Street Houlton Maine 04730