The emotions of residential real estate can sometimes become overwhelming for a seller. It’s an extremely emotional process; to part with the home in which you’ve made lots of memories can be very difficult. Once your home is under contract with a new buyer, all the thoughts of moving on and moving into a new home become very emotional too. But if you’ve done enough real estate deals, you know that they don’t always work out. A buyer’s financing could fall through, the home inspection could come back with a lot of issues, and in Florida, there’s a buyer’s right of recession period in which a buyer can cancel the sale.
This is where the problem lies. It’s very easy to get really excited once your home goes under contract, but that’s just the start of the process. There are so many working parts to a successful closing that there are sure to be snafus along the way. In a contract, buyers are protected in several ways that allow for them to cancel the sale, especially if it’s early on in the deal. Don’t count your chickens until they’ve hatched? How about don’t count your cash until it’s in your hand? Especially with the economy the way it is, deals have become even more difficult to close. It’s better to have very low expectations and surprise yourself with a smooth transaction then to be disappointed if things unravel.
Every year I see a deal or two fall apart- that’s just part of the business. You hope it’s not going to be your house, but it’s very possible it could be. If you are selling, please wait until the major contingencies have passed before you start boxing everything up and putting deposits down on a new place to live. There are just too many things that could go wrong and it’s going to be very disappointing to you if it doesn’t work out perfectly.
It never seems like it at the time, but for some reason outside of ourselves, it’s usually meant to be. It seems like the deal should be going one way, but it doesn’t, and then, in my experience, I’ve found time passes and a better buyer comes along and makes an offer and everything goes smoothly. Don’t get frustrated or upset with the process, just allow it to unfold and you’ll be very happy with the ultimate result.
Gabe Mellein was voted a Top Real Estate Agent – Exceptional in Service and Overall Satisfaction by Gulfshore Life Magazine in 2012 and 2013. He is the broker of Gulf Pointe Properties, Inc and has over 9 years experience in the SW Florida Real Estate Market. He is a member of The Naples Area Board of Realtors, Bonita Springs – Estero Association of Realtors, Realtor Association of Greater Fort Myers and the Beach, The Florida Association of Realtors, The National Association of Realtors, and is nationally certified in Feng Shui for Real Estate. Need real estate help? Please contact Gabe at: 239.825.2234, Gabe@GulfPointeProperties.com or www.GulfPointeProperties.com
