Over the last few weeks I probably have written 12 offers, 6 have been accepted, but only 2 are going to close at this point. I have had everything from Chinese Drywall to the Buyer just decided not to go through with the contract 4 days before closing. It is crazy, but it sure seems like there is something in the air.
I had one fall through the day before closing on a condo apparently the condo does not have a master flood policy. Most of the unit owners carry their own policy. The lender did not fund the loan, and needless to say we did not close. First of all Why does a Condo Building not have a master flood policy? Second of all why did it take this long to get the Condo Questionaire back? The lender should have known about this weeks ago. Crazy.
I had another one fall through because my buyers found out this particular community they were purchasing in has Chinese Drywall, and got pretty spooked. They have 2 kids and did not want to jeopardize their families health.
A third one fell through because after we agreed to the contract, the seller asked us to extend the closing date a month so my buyers said okay. Then the sellers asked us to move up the closing date a month and lease it back because they were concerned with my buyers FHA financing. My buyers reluctantly agreed, and then the last straw was they wanted a 10 day loan committment. Are they nuts. Financing takes at least 3 weeks now, and FHA is more like 30-45 days. SO the deal went south.
Well those are my stories, but I am so ready for a great week this week, and look forward to putting deals and keeping them together this week. Good luck to all this week.
David Serle
Vice President/Managing Broker
RE/MAX Services
561-912-3500 Office
561-912-3502 Direct
561-756-3104 Mobile
