Expect the unexpected

When you choose an agent, be aware that how the agent manages all the ups and downs of the selling process will determine the final sales result.

You need an experienced agent who understands the risks and manages them to a successful outcome.

Some of the unexpected obstacles that could present themselves might create some tension, possibly some arguments and even some tears. However, a great agent with a clear head and experience will work for you to deliver the very best result, whatever happens.

WHAT COULD GO WRONG?

Where do we start?  Below are some examples of unexpected things that can occur during a real estate transaction:

Yes, it does happen from time to time, either as the result of an accident or if it’s just their time. Although this will be a very stressful event, remain calm and be sensitive to individuals’ needs and worries; you can expect your agent to do the same.

Sometimes this happens. Stay logical and work through the process to ensure both sides have what they need to proceed. There is no point blaming anyone; just focus on the end goal and let your professional support team do their job.

These can occur on either side. Sometimes people are travelling and not physically able to sign a document or attend a meeting, or they’re waiting on a report from a third-party that’s not forthcoming. Sometimes it is nothing more than a delay. Everyone is still on side but they are just being held up, so take a deep breath and imagine you’re in their shoes.

Lawyers like to insist buyers have a pest and building inspection as part of their due diligence. Building inspectors are entrusted with reporting back if they find anything that isn’t quite right. It can be an emotional rollercoaster for a seller to be told that the home is less than perfect and an equally emotional ride for a buyer to be given a list of defects.

Different suburbs and states have different rules about disclosure but, generally speaking, sellers and their agents have an obligation to disclose anything that may adversely affect the buyer’s desire to buy the home.

Even with the best intentions and checklists, sometimes something isn’t discovered until it’s almost too late, so be aware that buyers have rights. Withholding knowledge can be a very costly decision for many reasons.

Any damage caused by bad weather such as broken windows and water inundation are the responsibility of the seller to rectify before settlement because until settlement is finalised, it’s important to remember that the property is still the legal responsibility of the seller. They must maintain the property to be able to hand it over as good as when the buyer saw it last and they must maintain insurance cover and continue to handle utilities to ensure a smooth handover.

Yes, it can happen. The buyer can be spooked by discovering things they didn’t expect to find and they can pull out. Buyer’s remorse can be costly; the buyer might not proceed simply because they feel that they have paid too much. The agent has negotiated the buyer to the highest price possible and if they are really uncomfortable at that level, they may cancel the sale altogether, sometimes with a small financial penalty, sometimes without any penalty.

Unless a buyer is paying cash, they are likely to be borrowing money from a bank. The bank will require a Valuer to appraise the home to ensure their loan is safe. Depending on the size of the loan and the buyer’s deposit and ability to repay the loan, if the Valuer decides the risk is too great, then the bank will not proceed and the buyer is unable to finance the home at that level.

Nobody wants to admit it, however, luck plays a role in every property transaction. Sometimes luck has a significant role and other times not.

In these cases, your agent is like an airline pilot. Flying the plane looks easy until there is a problem and then it’s experience that really counts.

Our knowledgeable Sales Consultants at One Agency Robert Mure are here to help.

                              email: kooweerup@oneagency.com.au                    web: oneagencykooweerup.com.au

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Expect the unexpected