If last night’s Blazer win against Detroit serves any educational point, it is this: you never know what’s going to happen before the final buzzer. Those that left with time left on the clock (oops) had probably written the Blazers off. At halftime, it looked pretty bleak and the odds of a Blazer win looked unlikely. Good coaching and good playing snatched victory from the jaws of defeat.
Throughout any real estate transaction we always remind our clients not to believe anything in real estate until they see it in writing. ***Editors note: may have a hard time tying these two topics together in retrospect.*** The goal of any transaction is the closing, at least at the beginning: a willing and able buyer and seller in a real estate transaction. As each contingency passes closing looks more likely to occur but like a basket ball game, the outcome can’t be assured until the deed is recorded.
Things that could go wrong (I’m sure this list will grow via comments):
- Buyer won’t accept something in the disclosure statement from the seller
- Buyer won’t accept documentation from the HOA as acceptable to them
- The inspections preformed on the buyer’s behalf (and most likely paid by the buyer) reveals issues that the buyer and seller cannot agree on repairs
- The buyer simply changes their mind and walks away from the transaction
- The buyer dies (there are specific performance requirements on the seller side- seek legal advice)
- The buyer cannot finance the property for one reason or another
- The bank will not finance the property because it cannot get a clean pest and dry rot report
- The property is not insurable and therefore the lender will not finance
- The lender changes its requirements during the transaction
Constructive additions to this list appreciated.