One Tip To Avoid Real Estate Crisis At Closing

We should always be looking out for our clients best interest.  Keeping their goals in mind throughout the transaction.  We are hired to help with the transaction as well as to protect them from potential problems.  As I engage REALTORS® each day, I pick up on a common mistake that can be avoided by creating 1 rule for yourself.

Don’t put your clients in a situation where they can’t get in touch with some help quickly.  In other words…

 

Never Close On A Friday!

This simple rule solves many potential problems for them.  Just imagine that they are scheduled to receive their property on a Friday, only to find out that the something has gone wrong with their financing.  The property can’t close now and you can’t get a hold of your lawyer because it’s past 5 o’clock.  Everything will have to be dealt with on Monday now, which could leave your clients in a hotel all weekend.  They will be upset and more likely, they will be upset with you, the REALTOR®.

Sometimes this can’t be helped, but it’s a great rule to live by as a real estate professional.

The other factor is that many moving companies are quite booked up for weekend moves.  This leads them to charge higher rates during the busy times. If the property doesn’t close on time, the Buyers will have to move their belongings into storage for the weekend.  They will likely get charged for another move whenever the problems with closing are resolved.

Again this can be avoided by not closing on a Friday.  Having access to your lawyer the following morning, could speed up getting the problem resolved so that you can go ahead and get in the property the following day.

This is just a simple idea that can save you and your clients lots of headaches with some easy planning.  Although many clients prefer to close on a Friday so that they don’t miss many work days, It really puts them in a tough situation should anything go wrong and they need access to their lawyer quickly.  It will likely save them quite a lot of money as well!

Please comment below on any situation that has happened to you that you feel could have been avoided.

Thank you for sharing!

Marty Green Marty Green

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