This situation would not normally happen but the seller, who is represented by another broker, is in a assisted living situation and the home they were selling is empty and ready for the next buyer. My client, the buyer, is a young couple looking to buy their first home.
We are all the way through the offer with all contingencies removed from the offer. We are waiting for the fink walk through and closing only. The story isn't very exciting or full of tension till we find out that Mr Seller is turning very ill and could possibly die. Concerned for the seller and what they are going through but in the other hand my clients could not close on their house if Mr Seller passes away before the closing is complete.
I did not want to make my clients feel stressed out or worry about the seller, but they needed to know as much as possible to make a good decision. As I knew his true health situation but I had to notify them that his health has dropped and he is not getting better. The conversation between myself and the buyer started with concern for the seller and then it focused on their options and what they should do to help their situation. Both buyers didn't really understand the potential for tragedy that could happen if he passes away before they close on the home. This is where I used my experience and understanding of what could happen if he dies.
After several attempts to make it clear what I would like them to do to make sure they close sooner than later, the seller's agent called me and indicated that the seller slipped into urgent care and was getting worse. This was not what the buyer or seller needed but the buyer had to know that they need to change their work schedule and make adjustments or they could close much later than planned. This would not be an issue but the buyer subleased their apartment and didn't have more time to close later. The buyer had a moment that it made sense why I was more forceful about what the should do with this new situation.
As soon as the buyer gave me the go ahead to move everything and close ASAP, I went into go mode and called the title company to see what they needed from both sides in order to move the closing and make sure this closed. With coordination efforts from the lender, title company and seller's agent, we were able to get the final walk through completed, get money from the bank and have the seller's attorney draft a POA( power of attorney) agreement for the wife to take control of signing for the husband at closing.
The more I think more about his situation and what was happening, imagine someone selling their home by themselves( FSBO) and coordinating this from work or another arena, would they have known what to do and how to connect all parties to make sure it closed on time and with as little of effort on the buyer or seller? I don't think it would have worked out professionals like the realtors, lender, attorney and title company working like a well oiled machine.
The buyer closed on their home and the seller was able to transfer the sale to them and accept the proceeds of the sale. I have not heard the status of Mr Seller and whether he is doing ok. I can not imagine seeing my wife in that state of health and then having to deal with something important, but not as dire as death, at the same time. I am so impressed with the focus and gentle heart that Mrs Seller had for,the buyer of their home. She wished them many years of happiness and hope they love the home like they did. I was blown away. This act of kindness was noticed by everyone in the room. It makes me really enjoy what I do.
We are in the business of human capital as well as real estate capital. I am happy this was all possible for my clients. I know we would have figured out a solution if it didn't go the way it did but I stress the importance of professionals being able to coordinate and handle the stressful situation and make sure everyone was taken care of as best as possible.
I love my job!
A huge Thank You to Preferred Title, Don Griffin(Summit Credit Union) and Ben Anton. With out their efforts and great communication this doesn't happen.
- Posted using BlogPress from my iPad
Location:Madison,United States
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