Hello and welcome. This is Nolan Formalarie with DiscoverNChomes and “Nolan’s News”. And as always, thank you for listening. Today I want to talk about something that’s been going on in several of my transactions today, and I represent both sellers and buyers, with sellers and buyers trying to communicate with one another.
Typically, this does not happen in a transaction. And it shouldn’t happen in my professional opinion for many different reasons. It’s just not a good idea. I’ll talk to it kind of by a scenario, by an example.
So you have a transaction going and somehow, some way, sellers and buyers get each other’s email address. This can happen when we forward emails and we don’t take out subject lines or other folks’ email addresses. And all of a sudden, they’re talking about furniture, the buyers talking about furniture, they want to buy from the seller and things are good and it’s a warm, fuzzy emotion that’s going.
And then all of a sudden we get to home inspection. Home inspection happens, and all of a sudden emotions start to turn up little bit. A buyer says: “why didn’t you know about these things and get these fixed?” Seller says: “Oh, these are small issues, I didn’t know about them. We’re not going to fix them.” So now you have just an added element to the transaction, where if you just let the listing buyer and the broker buyer handle it, we’re going to be able to get through this much better. Now there’s, again, this third element of ill will or feelings from the buyer and seller, and it can really affect the transaction.
I know this is an emotional purchase and it’s an emotional sale for a seller who loves her home. But you’ve got to treat it as a business transaction. Both your broker and seller brokers are here for a reason.
It helps eliminate some of that emotion and it keeps it business.
So I just wanted to say tha maybe towards the end of the transaction, if buyer and seller want to meet each other, and if they want to talk and sometimes this can be good. But I would do it like a week or a few days before closing. So you’re through your due diligence period, you’re through home inspection.
In my opinion, it’s not a good idea for buyer and seller to communicate, at least until the very end or sometimes even after the transaction is closed. I’ve seen too many transactions fall apart or just bad, negative emotions are created. And it just makes it that much harder to get to the finish line.
So in conclusion, it’s wonderful that buyer and seller may want to communicate. Don’t do it till the end or even after the transaction. If you have any more questions, please let me know. And we’ll talk to you soon.
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About Nolan Formalarie
Nolan Formalarie has been in the North Carolina Real Estate Industry for over 8 years and enjoys every minute of it. He is involved in every aspect of the industry including selling and purchasing residential property, home watch services, property management, association management and construction.
