You have to come from a place of yes to be involved in the real estate business. You just do.
These days, real estate agents advise purchasers of how the sale process will work, usually in realistic detail. There are so many challenges to overcome and buyers need to be prepared for them and expect them. If a buyer goes into a transaction on distressed property fully prepared, with their eyes wide open they can usually weather the process.
What most buyers and even sellers don’t know is that the long line of people involved in processing a distressed real estate transaction in some instance is ridiculous. All it takes is for one person in the line up to not come from a place of yes to bring everything to a grinding halt.
In the last couple of weeks I’ve dealt with more than a few people that came from a place of no. I’ve come to the conclusion that when asset managers or loan debt managers are needed at financial institutions, they are psychologically profiled and if they are the type of person who probably burned ants with a magnifying glass or tortured small animals when they were children, they’re hired on the spot.
Don’t get your feelings hurt if you’re that one special asset manager who isn’t malevolent. You are probably a mis-hire and will be internally repurposed shortly.
A group of us have had a date with an on again, off again, on again, foreclosure for a few weeks. Most of us say yes to closing it as a short sale, for which it is already approved. The asset manager says yes to letting it go to foreclosure because the foreclosure drop dead date is four days away — it’s simply too late to stop it. His hands are tied, even the hand with the magnifying glass in it.
Fortunately for everyone involved, even Huns need to take a vacay. It is revealed during the absence of our, glass is half empty, asset manager/debt collector that the postponement of the foreclosure had been in their file for weeks. Maybe it was mixed up with all of the miniature army men on his desktop battle field and he just didn’t see it or maybe, just maybe, he’s just likes the word no.
He certainly used “no” enough. No, he won’t extend the short sale approval. No, they can’t stop the foreclosure. No, the agents can’t contribute their commission to pay a back homeowner’s association fee overage, just to get the transaction closed. No, no, no.
Real estate agents can counsel buyers and sellers on just about anything that involves closing a short sale or a foreclosure but you just can’t predict the “no” person that just says no because it’s part of their fiber, part of their being, it’s just who they are.
With any luck, there are enough positive people involved in the transaction who come from a place of yes and they are willing to continue working in spite all of the “No’s” being thrown at the transaction.
Then again, sometimes it’s just a twist of fate for a transaction to close. Maybe Mr. No just needs to take a vacation for things to work out.
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Chris Griffith is a real estate agent at Downing-Frye Realty Inc. in Bonita Springs. If you have a question about local real estate or Bonita Springs, e-mail her at chris@LifeInBonitaSprings.com.