Northern Nevada Real Estate 

Surprises In Real Estate 

Lisa Wetzel and Jim Valentine RE/MAX Realty Affiliates 

 
Surprises In Real Estate
 

Real estate is an industry full of surprises that can change the course of people's lives in a moment. Seemingly established and full of rules, regulations, laws, policies, procedures, and methodology, it is amazing how often things pop up that change the course of events. It happens with such frequency that it can be considered the norm, and one must be prepared to make decisions along the way.

 

There are so many varied components in a real estate transaction that it shouldn't be surprising that no two transactions are alike. When you consider the differences between Agents, Buyers, Sellers, neighborhoods, locations, improvements, regulating bodies, etc. the variables are infinite. Even transactions between the same Agents, or involving the same Buyer or Seller will vary.

 

The best way to minimize the impact of surprises is to do as much advance work as you can. Find out as much as you can about the property, or the party and the Agent on the other side of a potential transaction. It will help you evaluate the likelihood of getting the property on terms and conditions acceptable to you for that property. If you identify and prepare for the obvious potential surprises you'll be ready when the real ones pop up.

 

Surprises in a real estate transaction can include negative inspection reports, loss of employment, change in HOA practices, flood or fire in the neighborhood, or a change in lending laws. They can also involve the mechanics of the process such as being locked out of the house, unsuspecting occupant not happy with the disturbance, exceptionally low appraisal, or locking keys in the house or car.

 

Not all surprises are negative. Sometimes people perform better than expected, the property inspects better than anticipated, repair items are covered by warranty and replaced, appraisal comes back quicker and higher than asking, etc. One of the nicest surprises happens when Buyers and Sellers meet and like one another. Magical things tend to occur in those situations. As problems come up to be solved everybody works together to make things work out so they can proceed to their collective goal, the close of escrow.

 

Surprises can have a big impact on the lives of Buyers and Sellers. Sellers that are busy preparing to move are not happy when the sale may be lost. The impact on Sellers can be enhanced if they are about to lose their home, or have an offer on another home that they will not be able to buy if the current sale falls apart. Buyer's, too, have moving plans. If their household is on the truck, they have a commitment to be on the new job, or their second favorite house has sold and not available, Buyers can be testy when learning of an escrow surprise.

 

Our Advice: Surprises are to be expected in real estate. When you get surprised work with your Agent to gain perspective. There is enough emotion in most residential transactions without adding to it unnecessarily. Most surprises have been experienced by your Agent before. The solving of problems is the essence of the real estate Agents' function. Sometimes a transaction must be cancelled, but not always. It is important when you get a problem surprise in your transaction that you evaluate it, calm down, assess your options, and have an open line of communication with your Agent. The right thing will happen if you do that.

 

Doing your advance work will help minimize your loss of time and bargaining power. Keep your cool, your eye on your goal, and make a good decision.
 
When it comes to choosing professionals to assist you with your real estate needs... Experience is Priceless!
 
Lisa Wetzel and Jim Valentine are real estate agents with RE/MAX Realty Affiliates in Gardnerville. They are short sale and foreclosure specialists and certified distressed property experts.

 

 

Contact them at  

carsonvalleyland@hotmail.com  www.carsonvalleyland.com  

 

Surprises In Real Estate 

 

 
Lisa Wetzel & Jim Valentine
 RE/MAX Realty Affiliates
1320 US Highway 395 N.
Gardnerville, Nevada 89410
775.781.5472 - Cell
775.783.6854 - Direct
775.552.8585 - Fax
 
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