I had a pretty good day today. I got to do the thing I enjoy most about Real Estate and that is negotiating. The good thing about negotiating is, that if I’m successful, I get to place one of my listings pending. That means that in 30 days or so, my Sellers can move on with their lives and I get paid. I love that, getting paid. One of my favorite things. The reward for all my hard work. Of course “The Lovely Wife” and the relative I never asked for, Uncle Sam, get most of it, but that’s OK, I really enjoy what I do and the money is secondary.
Anyway, I got to negotiate two deals today. One was pretty straight forward, a fair price that my Seller agreed to and a two week closing. Now, I like two week closings but let’s be real. They asked for a two week closing on a 100% financing deal and put 25 days for a financing contingency and 21 days to do inspections. Math was one of my only strong subjects in school and for some reason these time frames just don’t add up. So, we decided to counter back with a 30 day close. Everything has been accepted and we are good to go. I guess the point on this one, is to, please, put realistic time frames in a purchase offer and make sure the closing date is not 10 days before the financing contingency runs out. Oh yeah, make sure the Buyers can do the inspection before the closing date.
Now, the second one was little more confusing. Maybe I’m missing something here. So here goes, a cash offer but wanting the Seller to give back $5,000 at closing. These Buyers want to give the Seller $200,000 cash and then have the Seller give them back $5,000 at closing. Now what the heck is this about? Does this make any sense at all? The only thing this achieves is giving my Seller more closing costs. Why would you give someone cash and then ask for some back?
Well,I had to call the other Realtor on this one and ask the question. His response, “They want to put up a fence.” Uh, excuse me, why don’t they just pay for a fence? They are paying cash right? He assures me that this is a cash deal. They are closing on the house they own in a couple of weeks and paying cash. I just don’t get it. I have negotiated hundreds of deals and this one I just don’t get. Maybe it’s not really cash. Now that sounds right. It’s not really cash and for some reason they think this will slip by. Oh well, I think I will have to sleep on this one. I think tomorrow I will have to get to the bottom of this fence thing. My Seller and I can have a good laugh in the morning. Humor really is good for the soul! I can't make sense of the fence!