What NOT To Say When Closing A Sale
Selling your home is a process. It is often months of hard work with your real estate agent to get your home ready, prepare all the marketing aspects, and of course- hook a buyer. By the time the big closing day comes and it's time to hand over the keys, you're probably so ready to be done. Which is why it is so important to keep your cool all the way through the last step of the deal. Keep reading to find out what not to say when closing a sale as a seller, and click this link to read the full article!
"You don’t want to say something that’s going to upset or surprise the home buyer,” says Judy Weiniger, broker associate and CEO at Weiniger Group in Warren, NJ.Fortunately, in some states (such as New Jersey) home sellers aren't required to attend the home closing, as they typically sign their portion of the documents in advance. So there’s little risk of their inserting their foot in their mouth. But in many states, it’s typical for home buyers and sellers to meet face to face at the closing, which creates an ample opportunity for problems. And if the closing is delayed, that could drain money out of your pocket.“A good chunk of your settlement costs as a seller, such as your mortgage and condo fees, are pro-rated,” says Katie Wethman, a real estate agent and founder of the Wethman Group in Washington, DC. “So there’s a daily carrying cost you have to eat if you’re responsible for settlement getting delayed.”A closing delay can be even more stressful if you need the cash from this sale to fund a new home purchase that's closing soon. Ticktock!Due to all that's riding on your home closing going off without a hitch, some experts say the best approach for home sellers is to show up, smile, and keep their lips sealed. We're not saying you should sit there in stony silence, but your goal should be to "make the buyer feel good about buying a great house,” says Weiniger.In other words, if you have anything negative to say, it's best to say nothing at all. In particular, avoid these red-flag phrases below.1. ‘I can’t believe we made it to closing—those negotiations were brutal!’
Negotiations between home buyers and sellers can indeed get stressful, whether you butt heads over the home's price or which repairs you're willing to take care of after the inspection. Yet on closing day, that's all water under the bridge.If you have any lingering resentments or requests, now is definitely not the time to bring them up! They won't get you anywhere, and could put your once-happy buyers on edge.
2. ‘Honey, remember that crazy time the basement flooded?’
Naturally, selling your home brings up old memories—some good, some bad. Reminiscing about the bad ones at closing could get you in trouble. For example, if you talk about the winter when the pipes froze and burst, “it’s going to plant doubts in the buyers' mind, especially if their home inspector missed it,” says Wethman. “All the sudden, the buyer might be worried there’s mold behind the walls.”
3. ‘I’m getting divorced, and really have to sell this house fast’
It’s safe to assume that no one feels comfortable hearing about a stranger’s pending divorce (awkward!), but broaching the topic at closing can actually create serious legal complications for a home seller.“If you’re going through a divorce, you typically need to have the divorce finalized before you can legally sell the house, since it’s an asset that needs to be divided,” says Jennifer Baxter, associate broker at Re/Max Regency in Suwanee, GA. Furthermore, if the house’s mortgage hasn’t been paid off yet, a divorcing couple usually need to decide how they’re going to split the amount owed before selling the house.Therefore, if you’re getting divorced, it's best to iron out all these details before your close, as raising these issues without firm answers during your close could stop the whole process in its tracks.