Once the home is under contract the paper work doesn’t stop now and could have some before its time to sit down at the closing table.
- Closing Date Change
- Repair Amendment
- Temporary Occupancy Agreement
- Mutual Agreement to terminate contract
- Contingencies not being met by either party
How to keep the transaction moving forward
- Expect these possibilities and be objective
- Communicate Clearly
- Know what you are willing to accept and what is a non-negotiable
By doing the 3 above steps the process will continue to be a smooth one because you were out front and ahead of the potential issues. If you dont see these coming then they can make you emotional and give fear the contract will fall through. No party involved wants to see a deal fall through. Everyone has agreed to the previous contract because they are willing to accept those terms but now new information has come to light so the terms will change slightly.The deal should only be terminated if it’s in the best interest for all parties. Please try to work with one another if you are happy with the property and conditions. Let the other party know what has changed and see if new terms can be advantages for all. The idea is for everyone to walk away a winner.