First thing this morning, when I got into the office, I was greeted by a fax. It was a signed extension for a closing date for my repeat client/purchaser of dumps. (Hereby known as "Dumpster". Dumpster had made an offer on a property in April while my back was out. It was a fun day, showing homes that a sane person wouldn't even go into yet there I was actually having to sit in them because I couldn't stand.
Dumpster made offers on all we looked at hoping one would stick, which it did. We negotiated a price with the listing agent, it was accepted and we were looking forward to closing in about 2 weeks. 30 days is usually standard turn around time but when buying dumps, there are usually no inspections - termite or otherwise. So if you have great credit or cash and are a do-it-yourselfer, crappy houses make a great investment.
Anyway, my buyer is ready to move ahead. The title company ( the entity that gathers all information regarding a property such as tax information, mortgage payoffs and financing and researches the title to the property to determine that the person that is selling actually owns it) discovered that the person selling actually did not own it. The sale of the house was part of an estate which had never gone to probate to settle who gets what. All of a sudden everything comes to a screeching halt while we wait for the property to go through the court system.
So here we sit in July waiting for something to happen. Luckily (and I use this word frequently because real estate tends to hinge on it), Dumpster is hanging in there.
Bennett Realty is a great place to work and gives its agents a lot of support. And my broker is not a micro-manager but is always there when you need him. He just asks me periodically if the deal is still alive and I reply, "Yeah, so far!"
The moral of the story is, work just as hard for a client buying a crappy house as you do for one buying a McMansion. People are people. And besides, I bet you'll find that the person buying the pieces of crap is a lot more fun to work with.
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