Sometimes succeeding in real estate is pure tenacity. I often do feel like the "Little Engine Who Could" as it is nothing but sheer perseverance and determination that gets some sales to close.
Today I celebrate the closing of a home that was on life support for the past 43 days. No bank problems, no appraisal problems, no inspection problems - what's left? A title problem of all title problems!
In this case, it was because the owner died after we went under contract. I had been hired by the conservator for the owner, who was terminally ill and in hospice care. The conservator was his grand daughter, and was very motivated, but was handling multiple complicated issues with her grandfather's estate and graduate school finals, and really wanted to get this house sold. It was once a lovely home in a very nice neighborhood, but had been vacant for 5 years, and before that had been poorly remodeled by some less than honorable contractor/real estate agent who left the home in pretty bad shape. Not as bad as some REO's: walls were good, newer (5 year old) appliances, roof was good, no MAJOR issues, but a lot of little ones such as the electrical was amateurish, paint over the bathroom tiles, and the floors were coated with 5 years of drywall dust and stale, musty air.
So on the distressed property Richter scale of 1-10, 10 being catastrophic, this was about a 5, but bad enough to put it in the "handyman special," and "below market value," categories.
We got 3 super lowball investor offers, that were below below market value and then one owner occupant offer that was really good. One of the investor agents threw a little tantrum over text message when the conservator did not respond within 48 hours (even though I explained her circumstances and did not prepare him for a rapid response). The "winning" buyer had a class act of an agent and they were amazing people themselves. They were former Tibetan refugees who had been in the U.S for 4 years saving up and were about to get their piece of the American dream! We all wanted them to get this house.
We negotiated, ratified and waited to close. There was no inspection because the seller had already paid for one, that was given to the buyer before they made an offer. We had it inspected after being on the market for a couple of weeks and not being able to answer the questions people had, offered it up to let them know exactly what they were getting in this "as-is" sale.
Then, the owner died, intestate (meaning without a will), and put the contract in limbo. The conservator was not the heir, rather her mother who was suffering from myriad health problems. The death certificate was delayed due to an autopsy, and that was our first closing delay. Then we discovered that the estate had to go through probate in "Apple" county where the house was located, even though the seller died in "Orange" county, and they had already done so there. So the conservator and the heir who were named co-administrators by one county, then lined up to sign the probate papers in "Apple" county.
Fortunately, the sole heir, mother of the conservator DID want to sell. If that had not of been the case, I have no idea of what would have happened to the validity of this contract. Lawyers were consulted and said the contract was valid even though the conservator was not the legal heir, but the conservator was unable to sign after he died - only the mother, the sole heir and now owner of the house, could actually sell.
But then, the mother's health took a turn for the worse, and she had to be put in the hospital - for 10 days.
But amazingly, she got better, and they made it out and made it to "Apple" county to sign the probate papers a week later.
I feel like this closing is worthy of an award acceptance speech. The buyers and their agent, his assistant, the title company and the bank (a credit union) should all be sainted for the patience they exhibited during this process. No one got bent out of shape, threatening to walk. Obviously these delays were no ones fault and heart wrenching for the seller family. The circumstances cost the seller a little bit more money as the buyers had to extend their rent by two months, and asked the seller to pay, but that was the least of the seller's worries.
A sale like this really puts life into perspective, and makes me wonder how and why people do throw tantrums and get so worked up about the little things such as "the inspector says the toilet doesn't flush fast enough," or when sellers threaten default due to bank delays.
Last but at all not least, the person in this transaction who deserves major kudos is this original seller/conservator/granddaughter who shouldered graduate school finals, the death of her grandfather, the hospitalization of her mother, incessant check ins by me, and then multiple trips to a far away county, the notary at the bank, and of course, the Office Depot fax machine to get this done. She's the real little engine who could. And yes, she graduated too.
Coral Gundlach, CRS
Realtor serving Arlington, Fairfax and Loudoun Counties in Virginia
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Coral, congratulations! it sounds like your tenacity paid off in a final settlement but with alot of pushing and thinking you can!
Good post.... Thomas the Train, Woo Woo!!
Wow, great story. The strongest people overcome adversity and succeed in ways others cant, and I'm sure that girl will do very well in her endeavors. I'm glad you got your deal closed!
It is good to see others that will work so hard to get to the goal line. It is motivating to me when I hear about not giving up. Thanks
You went way above and beyond on this one. Kudos to everyone who helped you get through this sale.
Carol, good for you for recognizing everyone, especially the granddaughter. Glad you had a happy ending.
Congrats on your tenacity, Coral.
Many agents would have turned it over to a Real Estate Attorney and walked away.
Hats off also to the other players in the transaction.
Coral - Holy cow, that is the title of all title problems. I have had them before, but they got resolved. You do deserve an award. Congratulations to you, the seller/conservator/granddaughter that was lucky enough to have you as her agent. Great job!
Amazing--I bet the notes that you have on this transaction are lengthy, and fill several binders. Glad that this closed for you and the other agent, and the families involved.
Great persistence with this one Coral. Oftentimes with the death, the whole transaction grinds to a stop.
Several Oscars deserved to be awarded here. THIS IS WHAT REALTOR'S DO! I wish more consumers understood what we go through to keep things moving forward. No doubt you earned every penny of this commission and the gratitude of new American Dream owners.
Wow, kudos to all of you. This story truly is a testament to the fact that any sale can work and all the parties work together. Much success to you...
My very first broker emphasized the fact that every listing, every sale, every closiing is unique. You hit the trifecta. Congratulations on hanging in there.
Barbara - thank you.
Fred - I find that book still to be so inspiring, with a little determination, we can do wonders.
Phil - you are right, she will. She's clearly a very strong woman.
Jim - glad it's motivating. This was a very protracted sale and at times I wondered if it would ever close. It's a great reminder to never give up.
David - thank you. I did not even blog about many other details, it would have taken up way too much space!
Mary Kay - thanks, me too. Everyone was so well behaved, and that is what made this all possible. Happy endings are what I strive for!
Fred - I definitely consulted a few, but really the grand daughter and I just plugged away and made it happen.
Judy - Title issues can be very tricky. My 2nd transaction ever as a new agent was also a doosie. Each sale makes us stronger and wiser, doesn't it?
Lorraine/Loretta - yes, a tome, and everyone is relieved and pleased it got done.
Gary - I know, hard to believe you can still sell when the seller dies, but it can be done.
Randy - Yes indeed! it is why we are here and why we need to be trained, sharp and on top of our game.
Kaera - Thank you, when everyone stays cool, houses sell.
Michael - They are aren't they? We think we've been through some stuff and then - wham, a brand new set of circumstances comes around!
Yes, Kudos to all in those involved in the transactions - especially to the granddaughter for going through all that she went through and sticking it out. Great job and thanks for sharing such a great testament of dedication and service.
Wow Coral...this one should go down in the history books. This random set of circumstances is just rare. It showed the true character of all involved and is a kudo for all involved as it did indeed close.
WOWSERS! That is quite the list of hurdles and a definite trial for everyone involved. How wonderful when the parties all pitch in and do their best. Congratulations on getting 'er done!
Coral: What a terrifc effort in perseverance you have shown here. Congratulations on this major success!
Coral,
Congrats on the feature! I love old trains, and I appreciate your post.
Mike in Tucson
Coral,
I had one like this where 5 other estranged siblings came out of nowhere and contesed everything, Finally got it done though.
Coral,
It is 11:45 p.m. as I write this. It has been a long day working on this "holiday weekend".
Thank you for the great post that put things in perspective for me and brought me back to reality.
You really did a great job for that seller. But it is really sellers - plural - in this case...owner, conservator, heir/executor. Wow!
This also shows what can be accomplished when everyone in on the same page...trying to get the transaction closed in a reasonable manner without hysterics, accusations, and other contretempts.
You go, girl!
Congratulations on getting to the finish line with this one. It sounds like all participants were cooperative and had great staying power.
Sue of Robin and Sue
That's quite a story, Coral! Good job on your part and amazing job on the part of the grand daughter - truly a GRAND DAUGHTER!
Sounds like you did give an award speech, and it was well deserved. Your clients were lucky to have such a great team working together to accomplish the same goals.
I can so relate. I closed on Friday on a home that went under contract LAST OCTOBER.
Seriously.
It took everyone working together nonstop for the past 10+ months, 2 lenders, to get this done.
They were very lucky to have you as their agent. I love success stories, especially ones that take determination.
Rule #1: Don't sweat the small stuff. Rule #2: It's all small stuff. Keep on keepin' on!