Real Estate News and Advice
July 10, 2009
Let Webcast City webcast your message.
Today's Insider REALTOR Secret


Search Realty Times
 





The fastest way to get a signature.









NEED HELP?

Click for Live Support


Call: 214-353-6980





Ultimate Real Estate Success SuperConference


Saving The Day After The Closing

Even if your client has an inspection performed, some details can still slip through the cracks, causing your deal to fall through. What can you do?

According to Colorado broker John G. Johnston, whatever can go wrong will go wrong.

"You’ve showed all the properties to your clients, helped them narrow the search, discussed offers, presented, countered, accepted, and been through the inspections, appraisals, loan commitments and closing," he says. "After a nice lunch with your new buyers, you're off to the next client. Yes, you were professional and did it by the book, but, did you do it all?"

Johnston lives in Westcliffe, Colorado, southwest of Colorado Springs, a community of only 3,500 people in the whole county. He calls it paradise, with a town population of about 800, but despite being on a first-name basis with most everyone, a deal can still fall through if certain items don't make the checklist.

For example, suggests Johnston, "You had a home inspector perform a thorough inspection, and they found the usual things. But, did you check anything for yourself? In this part of the world…electricity, water, septic, plumbing are regular checks on the inspection sheet. But, there’s more. Are there tap fees for any of the connections? Are they paid? Can they be assumed by the new buyer, or do they have to be paid out of closing? It’s a simple phone call to verify services and fees. Asking for written reports to present to the buyers is a courtesy they will appreciate and remember.

He says in his part of the world it's common for agents to check items such as the electric tap fee the sellers agreed to pay off at closing and whether phones are working.

"You got the well report and even suggested the buyers retest the well because the well was drilled five years ago," and you had the septic tank pumped and the inspection passed all the plumbing and wiring in the house," says Johnston, "but you're still not done."

"Did you check the telephone company for service?" he asks, "The inspection revealed wiring to the house and the house had telephone jacks in every room. The house was vacant so there was no way to check the outlets. In this part of the world, the phone company contracts services for laying phone lines to subdivisions and houses. But that doesn’t mean they provide service! Buyers can even get a new phone number for their new home. But that doesn’t mean they have service!"

The moral of the story? Inspections, even if they are done properly, don't cover all the little things that can upset buyers after the closing. As an agent, it's up to you to make sure your buyer doesn't have any moving day surprises.

Published: December 23, 2002

Use of this article without permission is a violation of federal copyright laws.




Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68.


Order Now
Review - Honors

In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.

     

Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans.


Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR

"The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors

Coverage from WSMV, Nashville - 8-14-2007

That Interview Guy - Get Inside The Head Of Today's Generation
2007 AE Institute Session - To purchase
2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9
HouseValues Mastermind call - Parts 1 2

Blanche's fireside chat with Jeremy Conaway, HAR - Click here.

For more articles by Blanche, click here.







Real Estate News Network

You must enable Javascript to view the Video content and Navigation on this site.






Spotlight

Ultimate Real Estate Success SuperConference

Today's Headlines



Agent Publicity | Market Conditions Interview | Local Market Conditions | Video Newsletter | Article Index | Terms & Conditions | Privacy | Contact Us

Copyright © 2002 Realty Times®. All Rights Reserved.