I have always said that during a real estate transaction, you either see people at their best or their worst.
It is a stressful thing to do. So many details. Such a big change in the lives of both the buyer and seller. It is something most people do 4-5 times in their life so it isn’t like this is anything anybody will ever get used to doing.
I’ve got two deals right now where I am seeing somebody at their best and at their worst.
I have a listing where the buyer is clearly at their worst. They are making things a little difficult for their own realtor, the seller and me as the listing realtor. The funny thing is that I don’t know why? Due to the slowdown in the market last fall, there were not enough comparable sales for this higher priced home in a small town outside of Lexington. The house appraised for $14k less than the contract price. My seller agreed to lower their price. Then the buyer hit us with a pretty big repair list. We agreed to all but one item which happened to be the easiest one on the whole list. They threw a fit. One of the items was to repair a roof leak around the chimney. This was perfectly acceptable to ask for and the seller committed to getting it done. My seller turned it into his insurance. While the insurance company rejected the claim, they did agree to replace the whole roof at a cost of over $24k. He has to pay out of pocket for the chimney repair however. We asked the buyer to chip in a little bit towards the new roof (which my seller had no obligation to do) and they threatened to walk away from the sale. While they were under no obligation to help, one would have thought that having gotten the house for $14k less than the price they offered AND getting a whole brand new roof worth $24k would have made any buyer feel like they had won the lottery. It appears this buyer somehow feels like it was all owed to them.
The other deal is a property some long time good friends are buying. We were set to close today after waiting for the seller to get a new hvac part installed. It got installed and we all thought things were good. The person who installed this part went back yesterday to check on it and turns out that the gas furnace is now producing too much carbon monoxide. When faced with the choice of not telling us and closing today as planned or disclosing this, they chose to let the us know. Their HVAC person’s solution was to install a new furnace. They seller offered to split the cost with the buyers, who immediately said yes because who wouldn’t want a brand new furnace for half price, right? We decided to postpone the closing until the new furnace is installed and the carbon monoxide level is checked again. Had this seller chose the option of not letting us know, it would have cost my buyers more money and could have cost them even more since they would be sleeping in a house with high carbon monoxide levels. This seller did the right thing. I told the seller’s realtor how much I appreciated their honesty and that I was definitely seeing the sellers at their very best.
I am always inspired when I see a buyer or seller at their best, I just wish it happened every time.