Tahoe home-selling tips: Importance of cooperating with your agent
Special to the Sun-Bonanza
Your real estate Agent provides a variety of services to you, and their other clients. A busy Agent will have an astonishing amount of things to handle during the course of a work day, days that often extend into the night.
It is important for your well being that you cooperate with your Agent when presented with a task or decision. Delays can cause you to miss out on the property you want, or lose your position in the priority line for getting things done.
Much of real estate is time-driven. Things must be accomplished within a given time frame. Accepting the offer, depositing the earnest money deposit check, competing inspections, etc. all must be done per the terms of the contract.
Missing a deadline may be of no consequence, or it could cause the cancellation of the escrow. The easiest way to avoid such problems is to abide by the time table. Your Agent can make you a timeline for the escrow process if you like so you know what dates things will be due by.
It is important that you assess the time frames provided for in the contract when you are contemplating signing the contract. Will everything work with you and your circumstances? Do you have any trips already planned for the escrow period? Major events such as a wedding, reunion, etc.?
Such things take planning, stir emotion and will take time away from packing. Make sure things can get done within the time allotted. Asking for something to be done in 10 days that will take 20 doesn’t make sense, but it happens all the time as details get lost in the big picture.
The time to pay attention is when the agreement is being made. If it won’t work at the beginning it certainly won’t work during the course of escrow without adjustments. If the needed adjustments were prohibitive from a cost or time perspective up front, they will remain that way later unless someone makes a decision under duress that isn’t in their best interest.
Take your attention away from price and focus on the timing of each item. Can it be done and will it work for you? It is amazing how things that seem simple can be a problem, and vice versa.
If you make changes along the way be sure to get them memorialized in writing. If you make an offer and they can’t/don’t respond within the time you gave them be sure to get a written extension.
If they are countering it may not be so important, but it is always good to keep the chain unbroken. If you miss a time frame the contract may be considered a breach by one or both parties depending on the item and the contract.
It doesn’t mean you are automatically done, but you could be. If you are looking to keep things moving, but want them to perform you can use a 24 Hour Notice To Either Satisfy or Waive the Contingency to give them notice and time to act. You will be in a better position if you need to cancel the escrow.
Our Advice: It is important to make the time frames work up front, at the beginning of the transaction. Like a marriage, everything is peachy keen going in, but when it goes bad look out! Reasonable time frames and expectations can make for a smooth escrow.
Once in awhile something will come up necessitating a change. If things are going well it usually is not a problem for the parties to adjust. Make sure things are going as planned. There are many components to an escrow creating many opportunities to throw off the timing, i.e. a sick appraiser, inclement weather and power outages, etc., ad nauseum.
Anything can happen at any time until the escrow is closed and recorded. Take the time to stay on time and you’ll have a good time celebrating the close.
Don’t watch everything work out right, be involved in making it right all along. You will be rewarded for your efforts.
Lisa Wetzel & Jim Valentine, CDPE, SFR, work for RE/MAX Realty Affiliates in the Carson Valley. Visit carsonvalleyland.com or call 775-781-5472 for information.