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Snowy Maine

by Deborah Barouch

This winter has been snowy. Strangely enough, I have realized that I actually enjoy the silence and calmness that it provides. Life slows down a little. On heavy snow days, It is sometimes not possible to leave the house so there is more time for cooking and reading and just escape from multitasking. It offers a chance to think about the big picture.This is a rare opportunity in todays world. I actually remember life before email and sometimes I miss it.

 

Last minute snags to closing on upscale condo

by Deborah Barouch

I have been a Realtor since 1985 [continuously] but getting a transaction to the closing line is always a challenge. This is due changes that are continuously taking place in the industry.

Last week we encountered several issues closing on an upscale condo in an upscale popular community. Approximately 1 week prior to closing, I received a call from the sellers notifying me that a pipe had frozen[but not burst] in their  all new granite kitchen. Additionally, to further complicate matters, the pipes in question were located in the abutting neighbor's garage so any work needing to be done had to be done with their[the neighbor's] permission.

I advised immediately that the sellers draft a letter to the buyers[ a busy surgeon from out of state] immediately to notify them of the situation and that they[the buyers] would be closely informed of any decisions the sellers would be making.

Once this was done, the buyers called the neighbor and obtained permission to schedule a contractor to view the problem and suggest a solution. This was done and agreed to by both parties. The work was scheduled to be done 1 day prior to closing.On this day, there was a major snowfall. But the contractor true to his word, completed his work. During the process, the buyer called the contractor and had dialog with him to receive comfort in the job being done.

The day of closing came [the next day] and the buyer did the final walkthru and was approving.

The closing went off without a hitch. However I forgot to mention a radon problem that had to be resolved simultaneously. The radon test was very low in all living areas but slightly above the[Maine] limit in a basement room behind the garage that would never be used for living space.

The buyer, decided initially to mitigate this to the new state standards[not the Feds] but found out it would require condo association approval prior to this. Ultimately, the buyer decided to seal up the cracks in the basement [after many discussions with radon labs and mitigators and architects] and have it retested professionally. It tested much lower but not under the new state limit. However, because it was not a living space, the seller decided to not re-mediate this. The buyer was notified and gave this his approval. However this was all 48-24 hours prior to closing.

 

I would like to mention that we[agents] are under extreme pressure to close with all issues having been "resolved" The lenders are now all extremely nervous about all outstanding issues being resolved prior to closing. We realtors must have everything on the closing statement or we could be accused of "bank fraud" This makes the lead up to closings rather "tense" due to the need to having all problems taken care of and resolved prior to closing. This is good but it still "drives" the process and makes it stressful.

 

 

 

Displaying blog entries 1-2 of 2

Deb Barouch 
DBarouch@kw.com
207-838-4875
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