Alphonse and Gastonwas an American comic strip by Frederick Burr Opper, featuring a bumbling pair of Frenchmen with a penchant for politeness.
The strip's premise was that both were extremely polite, constantly bowing and deferring to each other. Neither could ever do anything or go anywhere because each insisted on letting the other precede him.(Wikipedia)
Yesterdays closing should have been without incident.
My Clients ,The Buyers, of a Bank Owned property had cleared through their financing in record time. They were happy with the agreed upon price and the Seller (NHHFA) had even granted concessions on Closing Costs. The Home Inspection revealed no surprises and we were set to close.
(I should have known better)
WE had our early afternoon walk-thru and headed back to the office for closing.
When I came through the door My Buyers Mortgage Broker was sitting there with his head in his hands....I had that sinking feeling....
It seems the Seller was refusing to sign all of the closing papers. In order to limit any possible hint of any liability....they will only sign 3. (the deed,the title and the HUD). On the other hand, The Buyers Lender insists on having 5 signed. The 3 above and two other innocuous ones (something about correctness of address)
Neither would give....we were at a standoff. And all of the decision makers were at lunch.
My Buyers were beside themselves.
When the "lunch-goers" returned, at least an hour was spent going back and forth with each player insisting that they were right and the other should give in....as a result....nothing was happening!
At that point the closing attorney announced that he had one card up his sleeve. He went into the other room to make a call. He returned with a big grin on his face.
WE WERE OK !!!
It seems 25 years ago he had worked with one of the decision makers at NHHFA. He explained our situation and she said....in a human, sensible, logical NH fashion...well that's just silly! I have no problem signing those. It was as simple as that!
We were fortunate to be able to circumvent the red-tape with a personal contact.
Most others are not so lucky!
How many other transactions have been stopped in their tracks for such foolishness?
Whatever happened to common sense and people power?
I'm still shaking my head ........
.
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Joan Mirantz - Joni is a Realtor® with Keeler Family Realtors, a locally owned, Customer Service oriented Firm.
Joan Publishes a monthly Newsletter "Food For Thought" under the pen name Realtor Sherpa.
(Joan also answers to Miz Maven and Miss Joni.)
Joan works in Buyer and Seller Representation with concentrations in the Merrimack Valley Area and towns surrounding Concord NH - the Capital City.
"I love what I do, and it shows in how I do it"
Oh Joan, what an awful thing to go through right at the end of the transaction! I'm glad it turned out all right and common sense prevailed.
Joan, Just what you need at the very end of something I'm sure you put SO many hours into. I too am glad things turned out well (and hope you had a glass of wine after :)
Ego. It's a terrible thing sometimes. SO glad your clients got their new home. And glad you got a payday!
Hi Joni,
I'm so glad to hear that common sense prevailed over red tape and everything fell into place!
Congrats to your buyers and to you....
Jo
Hi Joan,
That was a very interesting expose on your Buyer's closing. Did you ever find out what was behind the smile from the attorney and what was actally discussed?
Debbie....Don't we all worry about those last minute glitches!LOL
Hi Carole...I felt so badly for my Clients....they were really stressing that we would have to start over!
Hi Carol...This is what we are all dealing with now....Lenders who have egos as large as their bonusus used to be!
Jo...I am grateful that we live in a State that still has a few"common sense " people living in it!
William...the only reason we got the papers signed was because the Lawyer had a prior working relationship with the Sellers facillitator and she made a personal "executive decision"....she actually saw past the customary procedure and recognised the ridiculous!
Joan, we haven't run into that, but bank owned are definitely fodder for last minute surprises- and I have really, uh, pretty new gray hair to prove it! Glad it all worked out!
Joan--so glad everything finally worked out for you and your buyers. It's a shame when "CYA" trumps Common Sense.