Until It's A Deal

Overconfidence and complacency are two sister evils that can ruin any real estate transaction.

The old saying that a deal is not a deal until it’s a deal is true today stronger than ever before. Most real estate transactions are only as strong as the ink on the deposit receipt the teller hands the seller at the bank.

In all seriousness, today’s climate is making for stressful real estate transactions. Banks are no longer handing out money like they used to and financing guidelines are making it more difficult to obtain a home mortgage.

If that hurdle is crossed then there is the home inspection. Most buyers today are aware that they are getting a deal, however, some have decided to upgrade to a property a little higher in their budget than what they originally wanted. This is due to the fact prices are low. But, due to this, the buyer’s sense of caution is heightened and the home inspection becomes an all new important measure that is no longer just another step toward closing. Small issues now become major problems. Large items can ruin a deal. A skilled realtor, compromising seller and patient buyer are all need to make a deal happen today.

If all obstacles are overcome and the purchase and sale agreement is signed, there can still be problems that can sideline a transaction. The point here is to be very cautious on both sides and truly listen to what is being communicated. Only then, with diligence and intellect can both parties walk away from the closing table with smiles.

Otherwise, to use a sports analogy, with one minute left in the big game, don’t think you have a deal because you’ve gone undefeated all season. Otherwise you could end up being upset. Buyers and seller should now be keeping their eyes on the ball for the entire game until it’s officially over.