It’s Not Over Til It’s Over in Mission Viejo Home Sales
Or so Yogi Berra says. And I must tell you that I agree with him emphatically. When you finish perusing these examples of “things that go sideways at the last minute in your Mission Viejo Real Estate transaction and almost give you a heart attack,” you will, too.
Like the time the funder submitted an Affidavit of Arm’s Length Distance on a Short Sale to the buyer, demanding that it be signed and notarized before the funds would be released. Saying that he would not sell the Short Sale home back to the distressed seller. On the day the loan was scheduled to fund. So the transaction could be recorded and the escrow closed and the buyer given the keys to his new home. What’s wrong with that, you ask? 1. It wasn’t a Short Sale. So 6 hours and 240 phone calls later, the funder (you remember who the funder is, right? The person with the absolute least amount of skin in the game. No commission. No personal relationship or special rapport built up with the buyer. A completely administrative function, there to dot the I’s and cross the t’s before a huge chunk of money departs the banks coffers and goes into the hands of the seller.) agrees to an Affidavit of Intent to Occupy the Property. The buyer agreed to sign that in front of a Notary Public, since it is, indeed, his objective. To occupy the property, that is. What he plans to do if he ever crosses paths with that funder is another story altogether.
Or the time the funder released the funds Friday morning, in order to record Friday afternoon. Then no one remembered to let the Realtors know whether or not the County recorded the change in ownership. Because it’s certainly not over until it’s recorded closed. That’s when the Fat Lady gets to sing. But in this case, the money was there, but no one was available to confirm the closing. This was Friday, remember? The County Recorder’s office closes at 5:00 PM. Escrow’s phone system automatically goes to voicemail at 5:00 PM. Sometimes 4:57. For every single extension. So what does a buyer’s Realtor do in this situation? When moving vans are scheduled for Saturday? You tell me. Would you text your client and let them know, on the down low, that an extra key to the house is under the door mat and not to update their Facebook with New Home Photos until Monday. When it will be confirmed recorded closed? Just asking if you would. Not saying I ever have.
I’m Leslie Eskildsen. Just keeping it Real in Orange County Real Estate. 949-678-3373
Call me. Email me. Text me. I’ll get back to you. Unless it’s 3:30 AM. I’m asleep. I’ll get back to you tomorrow. And fill out this form: