Fraudulent Buyers
A couple whose house had sat unsold for several months, were thrilled to get a cash offer for their full asking price. The buyers offered a proof-of-funds letter from a brokerage firm. The buyer's extended family turned out for the home inspection. It was like a holiday open house. Later, the brokerage informed sellers that the proof-of-funds letter had a forged signature. The would-be buyers vanished. ALWAYS verify proof of funds and pre-qualification letters before accepting an offer!
Pressure to Sell from Your Own Agent
Homeowners were selling a starter home in Washington D.C., circa late 1990s. They were asking $235,000. When they received a $226,000 offer with buyer demands that they cover $6,000 in closing costs, their agent prodded them into strongly considering the offer. Ultimately, they sold for $228,000, while honoring the closing cost request at the recommendation of their agent. Pre- housing crisis, homes in this neighborhood were selling for between $650,000 and $700,000. “In hindsight, I felt that I’d been negotiating against three people—the buyer, his agent, and my own agent,” said the seller. This is no way for a seller to feel. If you choose to work with an agent, you should become a team, with the same end goal in mind. Make sure you select an agent with experience and integrity. An agent with your best interests in mind.
Pre-closing Error: Large Bank Deposit Causing Delay
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