Thankfully, this is not a horror story! Rather, one about professional heroes and everyone doing their job to get a happy ending! Let me give you the short version:
- Closing day arrives—seller has already moved out and signed their closing docs.
- Lender package had arrived just shy of the witching hour, HUD approved
- Escrow Agent/Closer present and ready to go.
- Buyer and her agent arrive and ….
The last minute walk through that morning revealed a potential problem not discovered during previous inspections.
You can imagine the conversations that followed with heated arguments of both sides accusing the other of fabrication, deception and greed. Minutes turned into hours with experts consulted; estimates given, and discussions back and forth. The closing was threatened to be terminated several times by both parties.
But the professionals saved the day!
- The buyer’s agent and the seller’s agent stuck it out, put their personal opinions aside and did the right thing for both of their clients. Professional agents have the knowledge and experience to weather these situations. A Seller or Buyer representing themselves would not.
- The lender stayed and offered advice for any questions that arose about funding. Not all lenders attend their own closings and therefore are present to deal with last minute loan issues.
- The escrow officer stayed and offered the closing options if the deal changed or terminated. Not all title companies send the actual escrow officer/closer to the table, but rather a mobile notary that probably would not have stayed and had the ability to make any doc changes if they did.
The real estate transaction process is changing. All-in-one or do-it-yourself agencies are popping up, and FSBO applications are available online to everyone. As much as I support change in the industry, I am gratified/humbled/validated by this professional closing where everyone did their job and the clients can look back and say, “thank goodness we had professionals”
Title Company of Denver prides itself on taking personal responsibility and attention to every closing and every party involved to make sure the deal gets done! Let us be your professional in the deal and make sure everyone gets a “Job Well Done!”