Margaret Rome's Blog

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Why Didn't It Close?

 

 

 

 

 

It is not pleasant when a transaction fails to close.

Thank goodness this does not happen often.

In real estate there are many reasons that settlement may not happen.

Here are a few...

 

=Financing 

=Appraisals

=Condo and association issues

=Contingencies

=Home inspection

=Natural disaster-earthquake, hurricane

=Personal crisis -illness, death, divorce

=Title issues

=Code violations

=Buyer and seller remorse

=Change in employment or transfer

=Analysis Paralysis 

 

As  professionals, we need to manage the contingency dates and the inspections. We need to stay in close contact with our buyers, sellers, co-op agent, contractors, appraisers, title company, lender and anyone else involved. As professionals, we need to recognize when the deal is no longer viable and say NEXT and... if possible, get the house back on the market.

 

Questions about selling a home...

Call Margaret Rome

 

Margaret Rome

 

 

 

 

 

 

 

 

 

 

 

 

 

 Search All Active Listings

 

Sell Your Home With Margaret Rome

Broker-Owner HomeRome Realty 

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Author of Real Estate the Rome Way

mrome@HomeRome.com

410.530.2400

Margaret Rome on Zillow

Comment balloon 6 commentsMargaret Rome, Baltimore Maryland • December 21 2017 11:41PM
Why Didn't It Close?
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It is not pleasant when a transaction fails to close. Thank goodness this does not happen often. In real estate there are many reasons that settlement may not happen. Here are a few… =Financing =Appraisals =Condo and association i… more
Happiness Is Closing Day
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It is Sunday and at noon I host a live radio show. ALL ABOUT REAL ESTATE is a weekly live talk show. Being December I chose to talk about a different kind of giving… the gift of time The original purpose of my show… Getting my… more
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The making of a holiday memory. I have clients selling a family home. The stress is showing. Just overwhelmed with too much to do and not enough time… it is even affecting their health. They asked for extra time.. a closing extension. I had… more
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Staying In Touch Is Easy
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There is a simple way to stay in touch with your past clients at the end of the year. Just pick up the phone and ask if they need any of their closing papers. Yes.. I do know they received them at the settlement but they may not remember or cannot… more