Save The Drama For Your Mama
There’s no crying in real estate. At least there really shouldn’t be. Typically, all parties involved in the transaction have a common goal for real estate to change hands so what is it that makes it all go haywire?
So there everyone is, minding their own business when “exhibit A” rears its ugly head. We’ll call this generality “exhibit A” because most of the time these are legal matters and when a home owner or a home buyer is “not seeing things clearly” during the course of a transaction they’re fiddling with not performing to the terms of the contract. You know that contact, the legal, binding pile of paper that all parties have signed in an agreement to sell or purchase a home?
This so-called “exhibit A” can be anything from the buyers failing to apply for a mortgage in a timely fashion, failing to complete due diligence and inspections within the specified time line or not depositing earnest money in escrow. There are legal obligations on the seller’s side, too. They’re usually required to keep the property in condition in which the buyer previously viewed the property, keep the utilities on plus allow access for inspections and appraisals and close sale on a specific date.
Some folks simply thrive on drama. Maybe they live very dramatic lives because they just don’t feel alive unless there is a craptastic storm swirling around them. Sometimes when there is a breakdown in listening and communicating the reality of the contract doesn’t mesh with what’s going on in their mind’s eye and the difficulties begin.
When things start to get dicey, it’s important to not get emotional and to recognize the constants when dealing with the real estate transaction, especially when one of the participants starts to get dramatic.
What is the constant? The constant is the contract. It’s the instrument that dictates the who, what and when all things will take place. It’s the time frames and deadlines, the drop dead dates.
Even the most average transaction can get pulled into the circus of the dramatic buyer or seller. What generally compounds the issue is when others in the transaction start reacting to what is going on. That whole “you push me and I’ll push back” theory is counterproductive when trying to close a real estate transaction.
Recently, I overheard a disgruntled home owner say, “You’re making me do xyz.” The reality of the situation is that nobody is making anyone do anything; there is a contract that all parties agreed to and signed. The contract is telling all of us what to do and the timeframes in which to do it. The home owner looked at everything as a personal attack because they didn’t understand what they had signed.
The best reaction to most dramatic situations is to continue to perform under the terms of the executed contract and to always proceed to close. It might be beneficial for your real estate agent to go over the terms of the contract with the other party just to make sure there wasn’t a (finger quotes) misunderstanding and to help steward everyone back to the same page.
The overwhelming majority of the time emotionally charged transactions can and will work themselves out. Don’t become legally responsible for delays or for the transaction not closing because you allowed yourself to become distracted by drama and did not perform your portions contractual obligations.
Real Life in Bonita Springs is a project by Chris Griffith dedicated to writing useful blog posts for consumers about the Bonita Springs, Florida area. Find out what it is really like to live in Bonita Springs, Florida by reading about our fair city. You’ll get the latest in local real estate information, Bonita Springs real estate market reports and a little bit of humor. If you have topic ideas, feel free to request a story about the idea, after all, this site is just for you.
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