No home sale is the same, but here are some common scenarios you may run into along your home selling journey.
In a perfect world the closing date identified on the purchase agreement you sign with the buyer will turn out to be the actual closing date. And, the timeframe used in the purchase agreement for the inspections that must be performed will not be extended. However, it is not uncommon for dates to change due to many variables that are often outside the control of both the buyer and seller. Amending the contract is common as long as both the buyer and seller are agreeable to doing it. At the end of the day the most important thing is to work together to get the transaction closed which will allow you to move on to the next exciting chapter of your life!
Unfortunately, this can happen more often than you think. Appraisers use historical SOLD data of homes selling in the neighborhood. In a fast-paced market where there is limited inventory which can cause multiple offers and overbidding for homes, sale prices may not be recorded in a timely manner thus leaving only older data available for appraisers to use. And, occasionally, you just end up with an appraiser who is completely unfamiliar with the market and just blows the appraisal. There are remedies I follow to try to get the appraiser to amend the appraisal. If that doesn't work then there can be another negotiation that could take place.
Like all professions there are very good people working hard to maintain professional protocols in the conduct of business activities. And, there are also a few people who don't subscribe to that same level of professionalism. Selling a home can be an anxious time. So, I work to minimize those anxieties for you. However, on rare occasions you may be inconvenienced needlessly. Fortunately, this is very rare.
Kidding, of course. But, as I mentioned earlier, some agents are more professional than others.
This can happen when a buyer's schedule changes at the last minute and the agent has no control over the change. Or, the buyer found a home before viewing yours that they wish to pursue immediately and don't wish to see anymore properties. Again, this is something out of the agent's control. Or, the buyer has lost interest in the home, or neighborhood.
There may be a day when my office calls you and says someone wants to see your home. You are going to ask when they want to see your home. And the response you will get is "Pull back the curtains, they are sitting outside now."
DO NOT let ANYONE in your home without having an approved appointment through our system.
Buyers are often encouraged to do this to start negotiations.
They will negotiate the purchase price and initial terms, the inspection(s), potentially the appraisal and the final walk-thru.