Pat Kennedy - Your Washington, DC Real Estate Connection

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An Observation About Real Estate Transactions

I had a settlement this afternoon that went like butter.  It was flawless.

This is the one that started off with a seller in the jungles of Sri Lanka with iffy email and spotty electrical power even if the email was working.  It took forever to get the thing ratified.  

Then the buyers' insurance company wanted the details of a fire that showed up in their database.  Um.  There was no fire.  That took some interesting back and forth with the insurance agent.

And today, less than two weeks after ratification, we had the smoothest settlement you can imagine.

  • Hud-1 sent out a day ahead of time, so it was totally corrected.
  • Papers arrived a day early from the lender
  • Papers emailed to the buyers (wife was a "reader" so she got to go over everything and called the attorney yesterday with her questions)
  • Seller in Sri Lanka, and his power of attorney was there to sign everything
  • Appraisal came in $25,000 over the asking price
  • Smiles all around!

It seems like the messiest contract negotiations seem to make for the easiest settlements!  Of course, a good lender and a terrific title company (Federal Title) helped.  

 

Comment balloon 14 commentsPatricia Kennedy • November 21 2007 10:19PM
An Observation About Real Estate Transactions
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I had a settlement this afternoon that went like butter. It was flawless. This is the one that started off with a seller in the jungles of Sri Lanka with iffy email and spotty electrical power even if the email was working. It took forever… more
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