It's quite common in some cultures for the parents and other family advisors to "thumbs-up" a particular home.
Looking "post transaction road", do you want to be the Agent that helped a family member find the "perfect home" or the one that would not let the Buyer's family approve a property which perhaps has a cultural stigma Mom, Dad and Grandma find displeasing?
They will kill the deal if they are going to kill the deal, not much you can do about that BUT you can point out the lack of inventory and depending on where it is, bring a radius search of what homes are going for now and what a great opportunity they are getting
BUT your dynamic personality should keep them going
Don't see how you can refuse to show them the house.
Quite frankly, if the mortgage is in underwriting, and all other contingencies are met........they really can't just arbitrarily walk away........can they?
Let me chime in here and pile on so to speak...
Does't matter where in the transaction you are... just open the door... let em have it and be cheer full and forthright if they have any questions...
You might just run into to some folks that are just happy for their kids that are buying a house...and want to see it... and if the "final decision" is "nada" or "no way Jose"...? That's not your problem... it's the buyer's isn't it...?
I think you already knew the answer too didn't you...?
Afterall, what is the alternative? Do not let the parents see the house. Have them fell like you are hiding something? This will insure that they will weave doubt in their children's minds.
Be generous. Be open. Show that everything is above boards, and their children have made a fantastic choice.
Perhaps you might remind your clients it isn't the final decision as that decision was made when they signed the contract. But open the door for their parents and work WITH you clients.
Harold Sharpe - Broker
So Cal Homes
California Department of Real Estate Broker License # 01312992
Either way, the buyer has a right to bring family to see the home. Good luck.
We closed on schedule.
My point is, there is a fine line between protecting a child and interfering. Donâ€™t be afraid to point that out to all involved, you can be much more diplomatic than me but you get the picture.
NMLS # 6395
Financing Kentucky One Home at a Time
One of the best ways to avoid this situation is to address it in advance. With EVERY offer we get I ask the selling agent questions about where the buyers' money is coming from, if any gift money, etc... Additionally I ask outright if they need/want parents or others' approval for the deal and get them to come in before the offer is accepted. That way we can continue to market the place while they are deciding if they really want the property, or we can ferret out the deals that are likely to blow up in a competitive offer situation.
Lance King/Owner-Managing Broker
Just my two cents: even if the transaction has moved to underwriting already, preventing the parents to see the house for final decision is like taking away the delight they can vicariously feel from one of the offspring's biggest achievement.
If you feel negative reaction, enlighten them with the positive attributes of the property.
Your smile can definitely move them towards the transaction consummation.
This genetics thing works both ways though, If the kids are clueless.... Well - where do you think they got that from?
By the way, if they are really giving "final decision" to mom and dad at a late stage in the escrow, they are.
Parents early, Yeah bring em on, the more the merrier. At the eleventh hour: red flag - not the checkered flag.