“What if the roof leaks?” “What if there are termites?” “What if the home underappraises?” There are so many things that can go wrong with a real estate contract. We, as Realtors, need to be problem solvers to help buyers and sellers achieve their goals, right? That’s our job.
Today I had a situation with an almost-signed HAP contract near Navarre, Florida. The seller and buyer had negotiated back and forth, through their agents, and finally had a meeting of the minds. I was readying the last changes to the contract, when I got a call from the buyer’s agent.
“The buyer is concerned there is a stain on the ceiling. He thinks the VA appraiser might require the roof to be replaced.” Whoah! We haven’t even finished signing the contract yet, and the buyer had jumped ahead to “maybe”, “what if” and “new roof”. He really wanted the house, but feared the sale could not be consummated since this was an “as is” purchase. Apparently, the buyer had run into a situation where he tried to buy a home before, and had this very issue. So, the stain became “new roof”. (Usually, an odd concern is the result of some past incident, by the way).
The agent was calling me looking for solutons, as her buyer might not sign the contract. Click, whir, buzz. (That’s how my mind works when presented with a real estate problem.) After I read the property disclosure to the agent, describing how the leak occurred years ago, and not since, I told her the following:
1. The buyer could make repairs himself prior to closing if necessary.
2. The buyer would not have to buy the house if his inspection was unacceptable.
3. Even though the sale was “as is”, the buyer could still “ask” the seller for help with the roof.
4. The buyer could spend a couple hundred dollars on a roof inspection, and ease his concerns.
5. The seller could ask HAP to assist with repairs, even though that was not likely.
I am sure there are more solutions, but these just spun out. Whew. Relieved the buyer’s agent went back to the buyer and thought she could work it out.
When a problem happens with your real estate sales – don’t panic. Calm down, and turn on your computer. That’s when the fun begins- using our brains to come up with solutions. See how many you can find, present them to your client, and don’t let “what if’s” stop your sales.
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: [email protected]