Tuesday, January 21, 2014

A Tale Of No Surrender!

A new escrow for a repeat client. Short time period for physical inspection. We live up to our end, get it done in 3 days.

The listing agent is in the home for the entire inspection and listens to the summary that is provided by the man that performed the inspection when he is complete.

While we had been waiting for him to finish, she and I chatted. She says her seller won't do any repairs and that she felt her home was worth 30k more than our current contract.

Something comes up of concern to the inspector, myself, and the buyer. A fire/safety hazard. An electrical panel that is known for tripping and causing that same hazard.

Outside, I ask my inspector what he thinks the replacement cost might be. 'Ball park? Maybe $1500.' I take a picture of the photo he took and send it to my personal electrician. He concurs about the brand being problematic and quotes 1500-2000.

I get a text from agent a couple days later saying that she just knows the seller won't do any repairs. She is sure the seller is looking for a way to cancel since she thinks her home is worth more.

Now mind you, the first escrow cancelled. We are the 2nd, and the winner among 2 other offers.....supposedly. We gave seller her full list price. 30k under what she supposedly thinks it's worth.

There is a trust factor in Real Estate. We try to trust each other.....sometimes we just don't though.

Once the report is reviewed by myself and all buyers we prepare a Request for Repairs. Remember I touched on that recently in this blog!

We ask for a $2000.00 credit. The microwave is broken, the flooring in the hallway was installed incorrectly, there is a GFCI need in the kitchen.....and that electrical panel known for problems! We tell her she can keep her lace curtains as part of the Request for Repairs negotiations.

Agent again says she just knows the seller won't agree. I say please present and reiterate our concerns.

So I get this text last night: "I don't know how or why, but seller has agreed".

I laughed out loud and said: Hell yes she agreed! To myself first, and then to my buyers!

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