The process of buying and selling real estate is stressful, especially if the buyer and seller are not getting along. During a high stress transaction, it is not unusual for one or both parties to grow frustrated over a perceived error in a contract, miscommunication regarding repairs, or a dozen other small issues. Often real estate agents find themselves acting as mediators in an effort to get both parties to closing so that the sale can be completed. These tips for managing last minute disputes between buyers and sellers will help you get your clients through closing.
Act as a Mediator
Regardless of what actually caused the dispute, things usually spiral out of control because of a lack of communication. Instead of focusing on your client “winning” the dispute, act as a mediator. Do what you can to identify the problem, soothe all parties, and work toward a mutually beneficial solution. After the time and expense associated with the home buying process, few people truly want to call off a sale over a minor disagreement. Being a go-between for the buyer and seller gives you a chance to save the situation and the sale.
Prepare to Negotiate
No matter the circumstances that led to the dispute, always be prepared to negotiate. Attempting to resolve the situation without making any concessions is likely going to end in failure. Do what you can to keep your clients’ expectations realistic and get them to focus on the big picture. Often a motivated buyer or seller is willing to work toward a resolution if their attention is returned to the benefits of finalizing the transaction amicably. Once the initial anger over the dispute has passed, most people are willing to work toward a reasonable solution.
Expect to Resolve Things Yourself
There are times when both parties refuse to come to an agreement. Instead of continuing to negotiate or mediate, you might need to resolve the situation yourself. It is not unusual for a real estate agent to replace a small fixture or handle a minor repair in order to get the sale back on track. While you do not have to invest your own money into any property, there are times when the dispute is over something so minor that it is more beneficial for an agent to spend a few dollars of his or her own money to end a dispute.
If the situation between the buyer and seller seems like something you are unable to handle without help, consider reaching out to a real estate attorney. A qualified attorney can review your situation and give you advice on how to work through the dispute while reducing the chances of litigation. The team at Adam Law Group understands that sometimes real estate transactions do not go as planned. We are ready to work with you to make sure you have the legal advice and support you deserve. Contact our Jacksonville, Florida location today to schedule an initial consultation.