A Day in the Life of a Main Line Realtor®-Part 26: Buyers’ Best Interests Come First
Not every day in the life of this Main Line Realtor® is a profitable one. Some days my job is to end a transaction part way through and that is not a happy day for anyone. Recently, a buying couple working with me found a Main Line home they liked for its size and renovated kitchen. I was concerned about the house because it was on a downhill slope with hints of water infiltration. I also felt that the home had been somewhat neglected during the time the sellers had rented it out right before putting it on the market.
My clients believed, correctly, that the home would need renovation in other areas besides the kitchen and that, at least for them, it was overpriced. They decided to put in an offer and we were able to get the price down to a reasonable point, so they accepted and we went ahead with the inspections. I suggested they include a mold inspection due to the dampness issue.
After a 4-hour home inspection resulting in a 90-page list of issues and a mold test showing remediation would be required in most of the lower level, my buyers decided to walk away. Luckily, our standard agreement of sale gives buyers this right after a proper inspection which is concluded in the allotted time, and we had met all the criteria.
It was difficult for the buyers, who liked the house and had invested in exhaustive inspections, as well as for the sellers, who were anticipating a quick cash closing for their vacant house. The other agent and I were disappointed after having worked very hard to get the transaction put together. Like others in our industry, Main Line Realtors® do not get paid a salary: we only make money when deals close. None of that matters, though, if the house is not right for the buyers, as was the case in this instance.
I was pleasantly surprised that the other agent was professional and courteous in facilitating the termination. In the past, I have had seasoned agents, even one who is a manager of a large office, actually become angry and combative with me over a termination. That kind of reaction never works with me so we got through it, but it left me wondering how many transactions that should terminate easily have to go through a lot of trouble to get there. Sad for the buyers if that is true!
Sage Realtors® put Main Line buyers’ interests first. Just ask our clients.
Tags: Main Line Realtor