Is is just me or do others agree that the real estate & banking industries do not get how to smoothly transition the sale of a house with a buyer who needs financing, even one who puts down a significant deposit? The industry, (FYI to all) apparently uses only business days when it says 30 days unlike all my contracts that say 30 days and mean 30 calendar days. Why is it that sellers and buyers get down to the wire when it is one of the biggest assets sold and purchased by people in their lifetimes? Why must we schedule movers, organizers, pack weeks in advance, take time off from work, etc etc only to learn that the confirmation of the sale wont take place until 13 business days before closing???? How is that right? How is that fair to the seller who must scramble to find a new place to live wondering if the sale will go through or not? Or what about the seller who has worked diligently to pack up their home only to learn the sale falls through just days before closing was to take place but not in time to keep the promised escrow money? Are others feeling similarly? Surely there is a much better business model to coordinate the timing of the inspection, termite report, financing approval, appointments for buyer to view home several times that also gives the seller has time to make definitive plans. Where so much money changes hands with the professionals involved, it seems there has to be a better way to run this system. What am I missing and are others feeling as inconvenienced as I am?
Posted on: Tue, 18 Nov 2014 16:51:47 +0000
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