There’s an old adage in the real estate business that no two deals ever go wrong the same way twice. Another truism is that money solves almost every problem that you will encounter. The issue is negotiating who will have to pay out of pocket to make that happen. In the following, I'll chronicle how to save a deal by sharing some of my experiences both professionally and personally. Inventory is at record lows, prices are still increasing in many areas, and interest rates have dropped when the predictions were that they would increase. When this happened in the past, buyers would purchase almost anything. Today, that is not the case. Buyers expect properties to be close to perfect, and if not, they either expect the seller to fix the issues, or they walk away from the deal. Unexpected wildcards Unexpected surprises are a major reason transactions fall apart, especially when those surprises require big dollars to fix. When things go wrong, you need strong escrow, mortga...
- Unexpected surprises are a major reason transactions fall apart.
- Sometimes you have to go to great lengths to find the right answer -- and sometimes the right people -- to solve the problem.
- Navigating through costly unexpected transaction issues requires a top-notch team of professionals.