types of tubulence we could run into

Buying and selling a home is like taking a cross-country airline flight. When you start on your trip, you have no idea how the trip will go. You could run into many different types of turbulence, or you could have a smooth flight and land on time. 

As your Real Estate Consultants, we see ourselves as the pilot of your plane. Our job is to assist you in getting your home sold for the most money, in the least amount of time, and with the fewest aggravations. 

We can’t promise you a turbulence-free flight, but we can promise you that we’ll utilize our experience and expertise as your Real Estate Consultants to take you on the smoothest flight possible. If we do hit turbulence, we won’t bail out on you. We’ll be your pilot throughout the flight until we get you safely to your destination.


The Lender

  • Decides they don’t like the property. 
  • Requires a last minute second appraisal. 
  • Loses a form or misplaces entire file.
  • Does not simultaneously ask for all needed information from the buyer; they ask for information in bits and pieces.
  • Pulls a "bait & switch" on the buyer.
  • The market raises rates.
  • Buyer does not qualify because of a late addition of information.
  • The buyer does not like fine print in the loan documents that are received before the scheduled closing.

 

The Seller

  • Loses motivation.
  • Misrepresents information about the home and neighbourhood.
  • Unknown defects that are subsequently discovered.
  • Home inspection reveals average amount of small defects that the seller is unwilling to repair.
  • Did not complete the repairs agreed to in the contract.
  • Does not appear for closing and/or won’t sign papers.
  • Delays the projected move-out date.
  • Still not moved out at Possession time.


The Buyer

  • Buyer’s family members or friends do not like the house.
  • Wants to re-negotiate based on defects found in inspections.
  • Finds another property that is a better deal.
  • Brings a lawyer into the picture.
  • Did not tell the truth to their realtor.
  • Submits incorrect information to lender.
  • Does not execute the paperwork in a timely manner.
  • Loses job, job change, illness, divorce, or other financial setbacks.
  • Loan program changes with higher rates and fees.
  • Source of down payment changes.
  • Finds out about additional debt after loan application.
  • Comes up late with the money at closing.

The Realtor(s)

  • Has no client control over buyer or seller.
  • Delays access to property for inspection and appraisals.
  • Does not get completed paperwork to the lender in time.
  • Does not do sufficient homework on their client or the property and wastes everyone’s time.
  • Unfamiliar with their client’s financial position – do they have enough equity to sell, etc.


The Property

  • Home was misrepresented as to size and condition.
  • Home is destroyed prior to closing.
  • Home is uninsurable for homeowner’s insurance.
  • Unique home and comparable properties for appraisal difficult to find.

 

The Legal Conveyancer

  • Fails to follow-up on unsigned or unreturned documents.
  • Lets principals leave town without getting all necessary signatures.
  • Loses or incorrectly prepares paperwork.
  • Poor co-operation between the legal firms.


The Appraiser

  • Not local and misunderstands the market.
  • Delays (too busy, etc.).
  • Makes important mistakes on appraisal or brings in value too low.
  • Not on lender’s “approved list”.
  • Lender requires a second or “review” appraisal.

 

The Inspection Company

  • Too picky with conditions and "scares" the buyer.
  • Inspection reports alarm buyer and sale is cancelled.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.