The past few months have been quite busy for McBride Realty Group, LLC. Our office is having a fantastic year and this past month I was fortunate enough to have all of the stars align for three closings in one day and two more the following day. When my listings got contracts, I did not notice that they all had the same date for closing. When I did notice, I naturally figured that there was no way that everything would actually close on time.
I was never happier to be wrong. My disbelief is well founded. We all know that the probability of a deal closing on time can decrease as the closing date approaches. I spent the three days prior to the closings holding my breath and waiting for the other shoe to drop. I am an optimist, but admit that closings scare me. There are numerous things that must line up in order for a property to close. There are so many moving parts and variables in any deal that the fear is warranted and legitimate. My experience has been that a majority of deals do not close on time despite the best efforts of most of the parties involved.
Real estate professionals are well versed in dealing with Murphy’s Law. There have been plenty of times where deals have fallen through, or been delayed at the last minute due to the buyer, seller or lender. Sometimes getting paid feels like hitting big at a slot machine in Vegas.
The only thing that is guaranteed when working in real estate is the fact that nothing is guaranteed. I have talked to many other agents and we all have the same anxiety as a closing date approaches. On this particular day the title companies were on the ball, the lenders were excellent and the agents were all on the same page. The communication between the lender and the other agents was frequent and flawless. My sellers were a pleasure to work with and the one buyer that I had was arguably one of the most organized and on top of things that I have worked with. On that day, I achieved transaction nirvana.
As the newly created TRID statement is put into place, my hope is that the closing process will be even less frantic that it has been in the past. I am sure that there are some wrinkles that will need to be ironed out, but overall I am optimistic. I may not know what to do with myself when the final closing statement is in the buyer and sellers hands days before the closing. There is nothing more stressful to buyers than getting the amount of funds they need to wire only hours before the closing.
Often buyers, especially first time home owners, are already anxious enough about the biggest purchase they will make in their lifetimes. This advance notice will definitely help to make closing day less hectic for them. I would love to see buyers feeling the excitement that purchasing a home brings without the emotional exhaustion and anxiety associated with receiving their final figures at the last moment possible. Remembering and telling the tale of my perfect closing day in real estate will definitely help carry me through the holiday home sales slowdown that most of us experience this time of the year.