7/20/09 - One of my first sales as an agent was one for cash ($100+K). The buyers were engaged to be married, one in their 40's and never married, another in their 50's working on union #2. We found the house they wanted, negotiated price and agreements and were moving forward to closing. The property was an estate where the owner had recently passed away. No earnest money was required.
Couple gets married and wants to put a rush on the closing date, moving it up a little earlier. Heirs of the deceased property owner (who lived out of town and in other states) juggled their schedule and cleared the house of all personal property trying to accommodate the new buyers.
Now newlywed buyers have a big fight and they do not want to live with each other or proceed with buying the house. I remind them they have a signed purchase agreement and would need to seek legal counsel if they were not going to fulfill their agreement. Then the buyers played the disappearing money trick. He said he had given all the cash to her to hold until closing day, she said he never gave her any money. Then he disappears and shortly thereafter she disappears. Neither can be reached by phone for a week.
Finally I was able to contact them and they had made peace and was heading for closing. That lasted for only a couple of days then they had another big fight and was not closing on the property and disappeared again. We were only a few days from the closing date; the heirs was threatening to sue the buyers because they had gone through so much effort to clear the property for an early closing. I called every contact number I had for the buyers and left messages reminding them of the closing date, place and time. Then on the day of closing I went to the closing office not knowing whether either would show or not. The blushing bride showed up for the closing with a cashier's check! I have never been so grateful for a closing!
Judy Steele Horn
ABR GREEN GRI MBA REALTOR
Virginia Licensed Managing Real Estate Broker
7/13/09 - Time is of the Essence
It goes back 10 years ago. We were living at 1 East Scott. The building was under major tuck-pointing renovation and the sound of the jack hammers digging away at the concrete building was deafening. I was working from home most of the time. My office was 2 blocks away but I was nearing the 9 month of the birth of my first child.
I noticed around noon that my contractions were on a regular every 20 minutes apart. I alerted my husband who was working in Joliet at the time. He was going to have a 45 min drive home. Then I called my doctor who stated that this was pre-labor, but that I will most likely be coming to the hospital within the next 24 hours. So I begin packing my bag to take to the hospital.
Then the phone rang. My buyer who had been looking at property for the last 3 weeks, decided he wanted to make an offer on a place we had seen earlier that week. Not wanting to tell him that I was in labor, I agreed to meet him in the lobby of our building at 4pm. As I reviewed the contract, my client couldn't help to notice that was having some very uncomfortable moments.
The pressure and labor had continued to grow more intense. The doorman, asked if I was o.k. I said, "Oh, yes, I am fine. My Doctor said I am in pre-labor and I won't deliver until tomorrow." Johnny, the doorman, replied, "I have my hand on the phone, ready to dial for an ambulance." Johnny got real nervous. Like an expectant Father, he started pacing, asking if I was o.k. every time I seemed like I was having a contraction. My client shook his head in disbelief. He asked why I had agreed to meet him to write a contract when this could have waited. I replied, "Time is of the essence. "
My son was born at 12:45pm the next day.
7/6/09 - Jen and I had a closing in June that was CRAZY!
A family was due to close on their home at 10:00 a.m. Monday morning. I talked to them the week before and they were making arrangements for moving. The walk-thru was scheduled for 9:00 a.m. Monday.
At 7:00 Monday morning I get up and look at my phone, 4 missed calls from the wife starting at 6:00 a.m....I'm thinking this cannot be good. I call her back and she tells me that there is no way she will be ready for the walk-thru at 9:00. I ask what is left and she says some clothes and a few kitchen items and stuff in the garage. She has not slept all night working on packing/moving. At least the furniture is out!!!
So, I call Jen and we decide that I will go over and checkout the situation and she will call the agent and tell her that we have a delay. I go over and there is much more than she told me, the ENITRE Kitchen needs to be packed, there is stuff in every room and the Garage is full!
I added up all the hours that Jen, me, my boys, the homeowners and their boy worked that day - it was over 57!!!! There is NO WAY they would have been out of that house by 5:00 without us.
That's the Jen and Lisa Team Crazy Sales Story for June!!!
Lisa Kenny, Realtor, The Jen & Lisa Team, Cindy Wingo Realtors, Inc.
7/6/09 - A couple of years ago, I was trying very hard to sell an REO property that wasn't fit to live in, and overpriced. The only thing going for it was the location. It was very close to a major local highway, yet almost invisible from the road and there were almost 6 acres. The outbuildings were better than the house, and they were falling down!
I showed it to so many people who were thinking of fixing it, and after seeing the condition, they walked away. Then, one of the young neighboring farmers expressed interest. He farmed the land around it and would bulldoze it anyway. I had this place listed for almost 5 months and I thought this would be the perfect solution! About a month later, he finally put in a cash offer, close to what they were asking and they accepted. We were scheduled to close 30 days later on October 20.
This farmer decided that he needed to do this as a corporation, and so he hustled off to his attorney to get the paperwork filed. I don't believe the attorney was as thrilled about all this as the farmer, because suddenly neither would return my phone calls for about 10 days. I finally caught the attorney, who said the farmer no longer wanted it and didn't care if he lost the $1000 earnest money. But he did tell me they had filed the paperwork with the State.
Now I "camped" in the driveway of the farmer until I caught him coming home one evening and carefully explained things to him. He said he'd think about what I'd said, but he had to have the corporation number back from the state first. I had told the seller of all this at the start of the problems and quickly notified them there were still issues, but also a glimmer of hope! They said we had until EOB, October 30.
The 30th came and the farmer said he did still want it but the attorney told him no sale without the corporation number. I called the attorney to see if he had received the number and he said no. Okay! I called the Secretary of State and explained why I was calling. The person told me it had been mailed, but was also accessible on the state web page. I logged on, printed it off and faxed it to the attorney, not knowing he'd left early for the day!
I notified the seller and pleaded for one more day, until end of business -- what was one more day, after all!
At 4:45 pm the following day, the buyer called me and said he'd spoke with the attorney earlier, so now he was ready, however, this was a really busy time. They were still in the fields trying to harvest the crops before snow, and he had no idea when he could get into town. I told him we had to close that day or the seller said the deal was dead and he would lose his earnest money. Silence. Then I asked him if I could come to wherever he was at, because since it was a cash deal, the location of closing didn't matter. He laughed and gave me directions. I quickly called the seller and explained what was going on and I promised I would wire them the money first thing in the morning. The lady on the line remarked to someone else, "I don't believe it! She pulled it off after all!"
I quickly grabbed all the paperwork and hopped in my car. My husband asked if I needed him to come along (safety) and I said no, I'd be fine. I was familiar with all the roads, but it was eerie outside because it was after dark with thick fog and no stars. Upon arrival at his location, I pulled in the driveway and drove up by where some empty vehicles were sitting. The farmer would stop to unload the grain when the combine hopper was full.
The things we will do to close a sale! -- I had parked in the middle of an Iowa cornfield, about 10 miles from the closest town, across the road from an old rarely visited cemetery, bordered by tall trees with hoot owls, waiting for a farmer driving a huge 20 ft tall and 30 ft long machine, with oddly blinking red and orange lights everywhere, at a dark 7:00 pm on an eerie, foggy, ghostly Halloween eve!
Jane Pagel, Broker, ABR, CBR, CSP, A-1 Real Estate Services, LLC
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