Real Estate 101 – When Things Go Wrong

There is no question- buying or selling a home is big move and can be full of unknowns. From the financial investment to the time finding the right fit, the process is anything but comfortable. This summer has been full of closings, helping my clients navigate a very intense real estate market. Through it all, I’ve learned a few tips about when things go wrong that I’d love to share with you.

First of all, don’t panic! As a homebuyer or seller, you have entrusted your journey to a real estate professional that will walk with you through this process. Trust the professionals around you to guide you. If there is a delay, or more paperwork needed, take heart that the professionals are the experts in the process, and they are doing all they can to help you. Just because something happens that is unexpected, it doesn’t mean its something that can’t be fixed. The agent, the title company, and the lender are professionals with a wealth of experience. Their goal is get you through the buying or selling process, this is your opportunity to let them!

I’d also encourage you to trust the process. As an agent, I have worked with so many clients who become concerned with something that is already outlined in the contract. The beauty of a purchase contract is that it is binding. Agents with their attorneys have worked years to develop the purchase contract so that it protects all parties.  A written contract specifies each persons obligations and responsibilities so that it is clear to all. We have a written contract for a reason and its always available to fall back on!

My last piece of advice when things go wrong- Understand the loan process. Lenders are under new, stricter guidelines regarding lending since the market downturn. More paperwork is required on the front end to qualify for a loan, and it often takes longer to get the appropriate requirements to the lender. This doesn’t mean your loan is falling through, it simply means there are more hoops to jump through in order to borrow money.  Trust that the lender is going to get the loan through, even if there are delays along the way.

When things go wrong in real estate, remember these tips.  Your trusted agent helps people buy and sell homes all of the time.  A good agent is a professional that you can rely on to get the deal done.