Monday, August 27, 2007

Back-to-back buy/sell closings

We had one of our most unpleasant real estate closings recently and it all boiled down to our client's unwillingness to "rent back" her home for one day because she didn't want to pay her buyer. There were some unique personalities involved in this situation to be sure. But at our client's sale the buyer's wire was slow to hit so our client's waiting around and getting frustrated and her movers were planning on charging her more, ect. And this is SOOOO foreseeable.

And monetarily it's a wash...$50 or whatever for a one day possession escrow is likely going to be about equal to one days mortgage interest on a follow-up buy.


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