"The secret to humor is surprise.” ~ Aristotle
Conversely, the secret to navigating a surprise is humor – especially when it comes to something unexpected in a real estate transaction.
One scrap of wisdom I share at the outset with new clients is this: There will be at least one moment during this process when something is unexpected and upsetting. It isn’t a matter of IF it will happen. It’s a matter of WHAT and WHEN.
As a Realtor, I am Navigator of the deal. I unroll a map of the Transaction and highlight a route to Closing. I know most of the twists and turns by heart. And I deftly steer around new bumps and barricades. Yet there is always a pothole I don’t see before driving over or into it.
These holes along the highway to home take many forms (or so I have seen).
The itty-bitty last-minute mortgage detail: On the day before signing lender requires that Buyer’s 3-year car lease be paid off in full.
The insurance Catch 22: Buyer can’t obtain loan and close escrow without insurance in place. But insurance company says circuit breakers must be installed before house can be insured. So Seller must have circuit breakers installed prior to closing. Yet property is a probate and Seller is deceased. And Buyer doesn’t have a contingency for insurability because the insurance company dreamed this new policy up just a week ago.
The unimaginable: Buyer has a brain aneurysm on the day before closing.
The naturally disastrous: Loma Prieta comes knockin’ and the house goes rockin’ off its foundation just after Buyer waives inspection contingency.
The governmental: The IRS decides to begin scrutinizing a formerly-ignored form called a TRDBV required by mortgage lenders. TRDBV stands for Tax Return Database. (I’m not sure what the “V” connotes and I don’t really care and I hope you never have to find out yourself.) Buyers drop everything (including their jobs) to go stand in line at the local IRS office for hours. And HOURS. And HOURS.
The feral: During a final walk-through, Buyer steps onto the roof and into a pile of raccoon poop.
The emotional: Soon-to-be-divorced yet cheery Seller goes silent in the week before closing. Refuses to sign closing papers. Will not return agent’s or attorney’s phone calls. Will not answer doorbell. Emails escrow officer that she’s changed her mind.
The economic: Seller’s employer withdraws offer of new position on the East Coast just after Seller accepts Buyer’s all-cash, no-contingency offer with a 14-day closing.
The watery: Closing is December 30th. Huge storm – the first of the season – crushes San Francisco on December 31st. Buyers call shortly before midnight, but not to wish me a Happy New Year. They are crying loudly. I realize, sadly, that their tears are not the cause of the dripping sound in the background.
Surprising? Yes. Humorous? Maybe (depending on your perspective and whether your view is in hindsight or in the now). It’s all just part of a regular day in the life of a San Francisco real estate agent and her clients!