When Wendy contacted me to sell her townhome, she had already had it listed for sale with two other real estate agents for over two years.
From the first phone call, it was clear she was desperate...she wanted this townhome SOLD.
I soon learned that Wendy had bought this cute little townhome just six years before she started trying to sell it. This quaint unit was one of only five in the building and just 20 steps to beach access.
She bought this townhome to use as a beach getaway for just her family. Wendy put her heart and soul into making it just right undergoing a complete renovation, transforming the unit into an adorable, cozy beach home.
After just six years, life happened. Wendy realized that they just weren’t going to be able to use the townhome as she wanted. She hired a local real estate agent and put it up for sale.
12 long months passed with it on the market... it hadn’t sold. Wendy called a friend for help that had a real estate license and also did some investing. She put it up for sale again trying to get it sold. 12 more months went by with little success. In fact, her friend, the listing agent, got involved in purchasing the unit next door to try and make a few bucks by flipping but still no contract.
I had my work cut out for me. Wendy had customized the property for her family but plenty of the choices weren’t popular. We shot professional photos and threw our full marketing team at it.
After a couple of months on the market, the friend’s unit next door went under contract. Wendy got a call from an attorney for a title insurance company...he had researched the title and found a problem.
It was a simple fix. The legal description of the unit next door was off by 5 feet. The attorney asked Wendy if she would sign a corrective deed so there would be no delays on the other closing.
She was nervous. Wendy was willing to help but didn’t want to create any issues for herself on her property...and here’s where it gets really good.
Wendy called HER attorney who advised her NOT to sign the corrective deed. The paperwork would fix the problem next door but would leave her with issues on her property.
Wendy spoke with the title insurance attorney who talked her into signing by telling her he would do two things:
1. He would work on getting her deed corrected.
2. His company would guarantee her deed while they were working on fixing it just in case a contract came in. This way, she wouldn’t have a problem selling.
This all happened in June...
Wendy received an offer in September, and things got interesting. The buyers were real estate agents and wanted to close FAST...two weeks. Finally, she was excited to be selling.
Wendy contacted the title insurance attorney who assured her there would be no problems with closing as long as she would use one of his title companies. However, the real estate agent buyers were not agreeable... they wanted things fixed the right way.
Wendy emailed the attorney the next day:
“After talking to Craig there is a concern this may not be sufficient for us to close this transaction, as the purchaser couple are both licensed real estate agents. Can you please update me on what action has been taken to reach out to xxxxxxxxx to get this resolved and not just warrant a defective title?”
She asked for my advice. I recommended one closing/title agent that I knew would hustle. Bobby is the man. Problems like this don’t fix themselves and sometimes require A LOT of work. It was going to take someone going the extra mile to get this done...especially this fast.
After hours of research and phone calls, Bobby figured out what needed to be done to fix the problem. Thankfully, we just needed one document signed. It took some doing to find out WHO was to sign it because of a divorce and a trust, but Bobby got it done.
The corrective deed made it back just in time, the day before closing and everything went off without a hitch. Wendy had been down a long, stressful road and finally had some relief.
Interestingly, the title insurance attorney that was supposed to be working on this responded to Wendy’s email ELEVEN DAYS after she sent it which was two days before closing:
I was going through my emails and realized I missed your email below, so I apologize for the delayed response. Have your proposed buyers mentioned anything regarding the legal description issue? Thanks.”
Real estate closings don’t just happen. Getting a buyer and seller to a signed agreement is just the start. Most times, the real work is just beginning and this is where professionals separate themselves from everyone else.
Bobby helped Wendy get this complicated, fast closing done on time and without issue. Wendy was finally able to relieve what had become a burden and move on to other things.