What Does Dancing With the Stars Have to Do With Orange County Real Estate Deal?

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What Does Dancing With the Stars Have to Do With Orange County Real Estate Deal?

Quick Step, Waltz, or Tango – Orange County Buyers and Sellers Dance Through Negotiations at Least Three Times

Dance Number One – The first time you sell your home in today’s complicated Orange County real estate market is the first dance you have with your prospective buyer.  Will it be a Quick Step – Offer, Counter 1, Counter 2 and done – all in the same day?  Botta Bing. Botta Boom.  Or will it be a Waltz ?  A more leisurely, dignified go around of fluid back and forth negotiations in a peaceful, calm and orderly sequence – mezmerizing Carrie Ann Inaba with it’s simple beauty.  Or a will you and the buyer engage in a wild Tango – flagarant, violent, cut-throat, ending in the demise of the deal?

Dance Number Two – Once your partnership is sealed in a signed contract, what’s next on your dance card?  The back drop is the Home Inspection.  Once the inspector rips your home to shreds – just like only Bruno Tonioli can do, putting it under the brutal scritiny that only a professional paid to find stuff wrong can do, what dance will you and the buyer perform?  A gunslinging Free Form featuring Cowboys and Indians fighting over the non-functional fire pit?  Or a fast paced Jitterbug with a quick, straightforward punch list of reasonable requests that are easy to say “Yes!” to?

Dance Number Three – The finale of the Real Estate Dance Competition – leading up to the equalivalent of the Disco Ball Trophy is making it through the Appraisal.  You survived the brutal Home Inspection and have resolved who’s fixing what.  Now you have a randomly assigned appraiser, the buyer’s lender’s go to guy/gal who marches on to the scene to give an independent, unbiased option of the value of the home.  Will it be a Cha Cha Cha?   A Mambo?  A Salsa?  Depends on what the Appraiser comes up with.  If it comes in at the contracted price,  you may just decide to sit this round out.  Game over – no harm, no foul, everyone’s ego and pocket book remain intact.  If the appraisal comes in a little over the value, congratulations all around – you’ve made the buyer some instant earned equity (on paper) and you might just repeat that lovely Waltz.  However, if the appraisal comes in below the price you’ve agreed to – you may be dancing a Jig.  Or you may call in a new set of Judges.  Seriously.  Unlinke the Ballroom Dancing extravaganza, you do have some recourse if the appraisal comes in low.  You can ask for a re-do.

A Side Step – You can dispute the appraisal.  Now, there’s no gauarntee that you’ll make any progress, but it can happen.  I just went through this, with an appraisal that came in $500.00 below the contracted value of the home.  I filled out a form from the lender, the appraiser reveiwed my evidence – comparable recent sales, upgrades, location, square footage, and appliances, and he raised his opinion of value on the appraisal by $5,500.00.  Sorry Len, you were wrong.  And thanks for re-evaluating our dance!

So when you’re ready to sell in today’s Orange County market, put on your dancing shoes and give me a call.  I’m Leslie, just keeping it real in Orange County Real Estate.  949-678-3373

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