This month’s question was submitted by Wally Sears, Wachovia Mortgage Corporation:
Have you ever had a blow up at the closing table where the buyer or seller walked out? I guess it would be ‘closing from hell’ stories.
“Yes, for several unusual reasons. However, usually we have been able to renegotiate, revamp or cool down. But in some instances, I’ve just had to put the property back on the market and move sellers back into their home. Never a good situation!”
-Bonnie Siecker, Century 21 Dames Point Realty, Inc.
“The buyer called out the closing attorney and seller’s agent to the parking lot to settle things. The attorney was the buyer’s new nextdoor neighbor and president of the homeowners association. Welcome to the neighborhood !”
-Jeff Kern, Embassy Jacksonville
“I’ve never had a closing blow up with buyer and seller walking away, but I did have an unusual failure when the buyer never showed up and left a $50,000 binder behind on a $400,000 sale. Fortunately, I had another buyer in hand and we put it back under contract within two weeks and closed 30 days later without a hitch.”
-Tom O’Connell, Watson Realty, Amelia Island.
“I had a closing almost fall apart at the table when the seller realized she had sold her home with the television antenna on the roof to transfer to the new owner. This television antenna had sentimental value because her husband had given it to her just before he died. We were able to work it out but it was touch and go for a while. I hope I have more substantial things by which to remember my husband!”
-Deborah Phelan, ERA Fernandina Beach Realty