The post-sale process. What is that all about?
We recently sold two homes that involved Real Estate ADD and BDD. What are these? How do you handle the post-sale process? Read on…….
ADD is Agent Driven Drama-
defined as an agent who creates drama when none is necessary. This agent caused us to have to jump through many hoops and combat lots of challenges to allow the deal to move forward. Which it did. What’s my point here? That we will do whatever it takes to make sure your deal closes no matter what.
Next is BDD- Buyer Driven Drama. Defined as a buyer who will throw up every road block possible thus making it impossible to ever decide on just that ‘perfect’ house. How do we handle this type of buyer? Through careful coaching, showing homes, and helping them to understand that no home will ever score 100%. And of course, the buyer’s spouse will help by proper and gentle placement of an electrical prod……
Now on to a few notes about the Post Sale Process. Escrow is divided into 3 major steps.
The first is to open escrow and establishing a working relationship with all parties.
The 2nd major step is at the end of 17 days. You are required to release all your contingencies. Inspection, and loan are the 2 major ones. (if the seller’s offer gets accepted they will only be a few days behind your escrow making it very easy to monitor how long they will need to be in the house.
Third major step is the finalizing of the loan and signing the documents.
Lets relax, Remind yourselves of how hard you worked to buy or sell your home. Know that we are here to help you, answer your questions, and ensure the transaction closes on time. It’s what we do.
We like to establish a good sold link of communication during this very stressful time. That is where you come in. Usually the most efficient and helpful way to communicate is through as few of people as possible. My goal is to find out what needs to get done and get it done as fast and as simple as possible. (We have learned, “keep it simple stupid” really works in the business.)
We have seen that it never works to presume the worst. Buyers like to be trusted as do Sellers. We do not believe in assuming the worst and then not being flexible during a simple negotiation based upon fear. The key is; open the escrow and serve it each day with that days needs.
Ron and I get together each morning and summarize the transactions. We evaluate what we believe is the best strategy needed to achieve that days goals. We then send out emails to the appropriate parties, (emails being the best recall/record). It is so very important that you read the entire email before making a phone call or texting one of us. At the end of an email, we try to make sure that clients and associates know what it is that we need.
We have experienced all types of Sellers and Buyers, most if not all want to be fair and considerate.
A few key ideas that will help you during the post-sale process.
1. Have one person in charge of communicating to Escrow, Title, the loan officer and to Ron and I. You will find all parties including us prefer to talk with the one who is putting his or her name on the line. Nothing is worse than for any one of these companies to receive 2 or 3 phone calls or emails from a household regarding the same subject.
2. When working on a document or part of the transaction. First discuss your concerns and then when making the phone call or writing the email allow the primary buyer or seller to do the communicating.
We hope this will help you understand our way of doing business. If you need more information, call us 760-413-2871.