Mission Viejo Real Estate Deals Sometimes Require Creativity

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Mission Viejo Real Estate Deals Sometimes Require Creativity

Mission Viejo Real Estate Deals Sometimes Require Creativity

I’m not an attorney and I’ve never played one on TV.  But as an active Realtor participating in today’s Mission Viejo real estate deals between buyers and sellers, I occasionally get to clarify, elucidate, document and monitor some unforeseen side deals in order to facilitate a happy resolution at the close of escrow.  Real life often collides with the Mission Viejo real estate deals and the contracts the buyers and sellers both signed.  Here are some examples Mission Viejo real estate deals I’ve helped to “clarify” based on the circumstances of my clients.

  • A couple of weeks before the close of escrow, the buyers ask if my clients, the sellers, would allow them to store the shipment container arriving from overseas in a portion of the sellers’ garage.  Their alternative solution was to park the contents of the container in a storage facility ($$) and then (more $$) have it moved into their new home after the close of escrow.  The sellers agreed to allow the buyers to park the contents of the container in two of their three garage spaces.  Now for the finer details – Who insures the buyers’ possessions against fire, theft, or water damage?  Does the buyer have access to the garage, directly connected to the sellers’ home, during the storage period?  And who grants access to the insurance company representative who needs to come to assess the damage to the buyers’ large granite table that happened during shipment?  Could this be a new reality TV series?
  • How about the dreaded requirement to have the home being traded between buyer and seller fumigated to rid the home of the invasion of dry wood termites?  You know this drill, right?  The gas gets tuned off, a huge tent goes over the house, and all living things need to be removed else they be offed by the gas like the pesky termites.  This includes food, medicine, and plants. So what if you have a dog, a cat, a high schooler going through finals, and nowhere to go while the gas offs the bugs?  How about just having escrow hold back the money to pay the termite company after escrow closes, have the seller move to their new place and fumigate the house while it is empty, document this for the lender, and get everybody to agree?  Easy peasy lemon squeezy.
  • What if you are really happy to sell your house but your next house needs some upgrades before you can move in?  Try setting up a rent back agreement that has a maximum number of days with a minimum number of day’s notice of the end of the rent back and have escrow hold back the maximum number of days in rent.  They have both buyer and seller sign off on the actual number of days used in the rent back and agree to refund to the seller the unused portion of the rent back funds held from their proceeds.  Piece of cake.
  • Don’t even get me started about the deal that got held up because the buyer had a lien on his business that had to clear in order for the lender to approve his loan and my clients, the sellers, needed to close on time in order to meet the contract dates on the purchase their new home in another state.  And yes, I’ll figure out how to get your Mission Viejo real estate deals done as well.

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

949-678-3373

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