Types of Turbulence |
Being a Real Estate Agent is similar to being an airline
pilot.
We, clients and agents, will experience some
turbulence, but we will adjust our course and return to smooth
sailing and clear skies. 33 years of successful sales
and marketing experience at the national, regional, and
local levels have reassured me that any turbulence experienced
is only temporary!
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| The Buyer / Borrower: |
- Recent late payments on credit report
- Borrower loses job
- Overtime income not allowed by underwriter
- Applicant makes large purchase on credit before closing
- Lacks motivation
- Borrower switches from salary to 100% commission income
- Family members or friends do not like the home chosen
- Buyer is too picky about property in price range they can
afford
- Buyer does not properly "paper trail" additional money from
gifts
- Buyer does not bring cashiers check to Attorney's office for
closing costs
|
| The Seller: |
- Cannot find a suitable replacement property
- Will not allow inspectors inside the home in a timely manner
- Did not own 100% of property as previously disclosed
- Encounters problems getting partners signatures
- Leaves town without giving anyone power of attorney
- Delays the projected move-out date
- Did not complete the repairs agreed to in contract
- Builder miscalculates completion date of new home
- Builder has too many cost overruns
- Final inspection on new house does not pass
|
| The Property: |
- Termite report reveals substantial damage and seller not
willing to fix
- Home not structurally sound
- Portion of home sits on neighbors property
- Unique home and comparable properties for appraisal
difficult to find
|
| The Appraiser: |
- Is not local and misunderstands the market
- Is too busy to complete the appraisal on schedule
- No comparable sales are available
- Is not on the Lender's "approved list"
- Makes important mistakes on appraisal and brings value too
low
- Lender requires a second or "review" appraisal
|
| The Inspectors: |
- Pest inspector too picky about condition of property
- Inspection reports alarm buyer and sale is cancelled
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