There’s a lot that goes on behind the scenes of a real estate transaction, and today I have a story to share with you that illustrates this point.

There’s a lot that goes on behind the scenes of a real estate transaction, and to give you an idea of what we Realtors have to do sometimes to make sure our clients achieve their real estate goals, I’d like to share a personal story.

This story is about a client of mine from California who’s retiring and plans on moving here to Las Vegas in about a year. She was looking for a condo in the Henderson area, and over the course of several visits, we were able to find something for her that she really liked.

Though she had limited funds for this home purchase, she planned on putting down a fairly large down payment. After we went through all the important due diligence phases and the loan contingency period, we assumed her loan was fully approved. At least, that’s what her bank in California told her.

However, with only a few days left before the closing date, we learned that the bank hadn’t provided the closing disclosure yet. This meant we couldn’t get the purchase process started. As we found out, the condominium she wanted had a slip and fall lawsuit pending against it. Insurance was going to take care of the lawsuit, so it shouldn’t have mattered, but it was the bank’s opinion that there were limitations within that lawsuit. They waited until the last possible moment to include this information in their underwriting. This caused a major issue, and on the day my client was supposed to sign, the bank told her they could no longer approve her loan.

Needless to say, this caused a bit of a panic. Not only was my client worried that she’d lose her $5,000 earnest money deposit, but she was also worried she’d lose out on her retirement home. Her bank isn’t one that I deal with, so I contacted a couple of my lenders to see if there was anything we could do. Because it was so late in the game, though, it seemed we were out of luck—the fastest turnaround time for a loan is a minimum of 10 days, and that’s if everything aligns perfectly. I also explored other alternative loan options, but none of them were feasible.

"The job isn’t just about buying or selling homes—it’s about helping you achieve your goal."

As a last-ditch Hail Mary, I called the listing agent and asked if I could speak to the seller over the phone. You see, I noticed on the settlement statement that the seller, outside of the fees, was getting all of the proceeds, meaning they owned the property outright. Once I got the seller on the phone, I asked them if they could take my client’s entire down payment and be the mortgage note holder for one year at a rate of 6%.

I expected them to say no or at least negotiate more favorable terms, but they didn’t want the deal to fall through and they sympathized with my buyer’s predicament. As a result, we were able to write up the financing addendum and included an incentive that stated that if my buyer was able to pay off the loan in six months, the seller would receive an extra $1,000.

In the end, we managed to save the transaction, and in addition to writing me the nicest Zillow review I’ve ever had, my seller sent me a gift basket as her way of saying thanks. It was my pleasure to help her, and it ended up being a phenomenal experience.

Closing a home sale is a lot of work, but it’s an awesome feeling to help someone achieve their real estate dream. The job isn’t just about buying or selling homes—it’s about helping you achieve your goal.

If you ever have any real estate needs or there’s anything I can help you with, don’t hesitate to reach out to me. I’d love to help you.