days or less turned into several months of waiting and a larger deposit, and a lot more documentation. They ran them in circles, until the seller was ready to find another buyer. The seller was getting frustrated and ready to cancel the contract when they needed one more extension. They would have lost everything they put into it, if they didn’t find another solution. I represented the seller who just wanted to close and move on. Luckily, my expertise as a lender helped. I knew local lenders and what they could do. We referred them to another lender. The new lender able to help them to obtain another loan much more quickly. In another case we learned about, Ron and Jenna were planning on upgrading to a new home. After a long search, they found it — or so they thought. A bright and colorful kitchen, open living and dining areas, three bathrooms, high ceilings, a fireplace, and even a covered porch made the home seem perfect. They were especially thrilled that the price was only $335,000. That was a steal. They signed the contract and were in the house a little more than a month later. Sadly they did not do an inspection which would look for defects. Less than six months later, the horror story began to unfold. Jenna was cleaning one of the bathrooms when she noticed tiny little ants with wings. Following Ron’s advice, she called the exterminator. When he arrived, he delivered the first blow — these winged ants were termites. The exterminator went under the house to assess the damage. He found that not only was the floor under the bathroom completely infested, but also the other two bathrooms, and the infestation was spreading to more of the house.
The grand total to repair this problem came to over $12,000!
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