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Mahesh Mike Patel's Blog

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Miscommunications holds off sale of house for 6 months?

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I was talking to potential clients about the sale of thier house, which had not sold previously. I had met them almost 5 months ago. I tried to help them list and sell the house back then, unofortunately, I did not get the listing, as the house was in a trust and now the sister was the 'successor' of the trust, and she was to decided when to sell and for how much.

I just happened to call them and see how the sale of the house was going. To my surprise, the house is not for sale, and even if they sell, they will sell "For Sale By Owner", which I would not recommend anyway, as almost 93% of homes are sold thru Realtors and agents. What was amazing to find out was that, the sellers that I was dealing with, as there are 5 siblings, who are heirs to this house, feels that the sister will sell it for a low low price. So instead of listing the house thru an agent, they are selling it on thier own, and hoping that the sister will then agree on the price.

In the meantime, this house has been sitting vacant for the last 5-6 months and loosing equity as prices seems to still fallling.

These kind of delays and misunderstandings would not have to happen if they just sit and talk it out, set a plan and contact a professional Realtor who can explain the selling process, the potential sales price of the house and also handle the escrow process for the sellers. But due to miscommunications and false hopes, this house is still sitting vacant and loosing equity everyday.
Many times homes do not end up selling due to miscommunications between various parties. It does not have to be that way.
Talk It out! and close the deal.House

 
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