Real Estate is hard. No transactions are easy... though the consumers think so many times, as we try our hardest to hide the hard parts. What makes it so hard? You're dealing with people's
Texas Real Estate Mediation When The Contract Goes Out The Window
Real Estate is hard. No transactions are easy... though the consumers think so many times, as we try our hardest to hide the hard parts.
What makes it so hard? You're dealing with people's emotions. When I represent a Seller, I try hard to remind them that this is like a "business transaction" and to keep emotions out of it. When I represent a Buyer, I try hard to remind them to keep their emotions in check, otherwise the Seller could use them against us in negotiations.
There are only two truths in Real Estate; the Seller wants to sell and the Buyer wants to buy... so you would think... If this was the case, real estate transactions wouldn't blow up everyday all over the country. Sellers are emotional about their house and get offended when the Buyer asks for a repair. Buyers are emotional thinking they're doing the Sellers a favor by buying their house, and the Seller better do what they want or they won't buy... but don't they want the house? It's so confusing...
Many times, with a signed and dated executed contract, the Buyer or Seller "default", which means one party doesn't do what they're supposed to do, per the contract. Maybe the Seller didn't do the repair exactly as the Buyer asked for it. Maybe the Seller didn't move out in time for the Buyer to move in. Maybe the Buyer, just on a whim, decided they didn't want to buy the house anymore...
All of these situations can be dealt with in Mediation. Many real estate agents and brokers tell their clients to "lawyer up" or "it's attorney time". I hear that a lot. However, what an attorney will tell you is that they would be more than happy to work with you and take your case, but you can't go to court unless you try Mediation first, per your contract. Yes, the Texas Real Estate contract has Mandatory Mediation as an alternative dispute resolution. The good news with Mediation is that both the Buyer and the Seller can be part of a Win/Win outcome, whereas a lawsuit in a courtroom usually has one winner and one loser...
If the Seller wants to sell and the Buyer wants to buy, why not get them in a room and try to figure out how to get to that Win/Win scenario. Contact me today, or visit my website for further information on Mediation.
Donna is an accomplished agent who has numerous accolades as a top and nationally recognized agent. Licensed as a REALTORĀ® since 2000, she helps clients throughout the Austin area and suburbs. Donna....