Mission Viejo Home Buying – The Real Estate Game

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Mission Viejo Home Buying – The Real Estate Game

If only Mission Viejo home buying and selling worked as easily as it does in Monopoly; where you roll the dice, land on an Monopoly Imageavailable property, check to see how many orange $500 dollar bills you have stashed away, pay the bank exactly what the property is listed for, and you get the deed to the property. Takes about 87 seconds. Then you wait one turn to add houses. Then hotels. The same cannot be said of buying and selling houses in Mission Viejo. Beside the fact that no one would accept orange $500 bills in exchange for a deed to any Mission Viejo house, it takes longer than 87 seconds and involves more than just you and the banker. Which in Monopoly, can also be you. (I loved being the banker in our marathon family Monopoly games, but usually my cousin Craig got to do it. That’s another story.)

In dramatic contrast to the simplicity of the Monopoly buying and selling process, take a random sample of a Mission Viejo real estate deal and you get a little bit more complex scenario. In this case you have Mr. and Mrs. Buyer (playing as the iron), Mr. Seller – who is also Mr. Landlord (playing as the car), Mr. and Mrs. Tenant – who are the grandparents (playing as the ship) of Mr. Buyer 2 (playing as the shoe), who is buying his grandparents a house around the corner from the house they are leasing from Mr. Seller, since Mr. Seller has cancelled their lease, as he is selling the house they’ve been living in for two years. With me so far?

Along the way, the shoe changes his financing instrument, not to orange $500 bills, but to a product that requires steps that will tack an additional two weeks on to his escrow, potentially leaving his grandparents – the ships – without a port to call home. The car’s deal with the irons is scheduled to close 18 days before the shoe can close his deal. What to do?

Luckily, the irons can stay in their home for about a week after they close on the car’s house so the ship people are not homeless – they can lease the iron’s new home for seven days. What a relief.   And as it turns out, the house the shoe is buying is vacant, so they ship may be able to negotiate another lease with Mrs. Seller 2 (playing as the thimble.)

So to win this game, the thimble needs to grant the ship a short term lease to cover the days the irons can’t in order to avoid moving twice. The shoe needs to nail down his financing and avoid any further delays in closing on the new house for the ships.

I’d love to see the Monopoly rules to cover this hot mess.

I’m Leslie EskildsenLeslie Eskildsen Realtor.  Just keeping it real in Mission Viejo real estate.

Text me.  949-678-3373

Email me.  Leslie@LeslieEskildsen.com

Call me.  949-678-3373

I will help you.

 

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