Friday, January 27, 2023

Trying to time your closing is a fool's errand

All too often and sometimes against my best counsel, buyers and sellers will try to time the closing to a specific day. As the title states, that really is a fool's errand. I wrote a post right here own this blog back in 2020 that sums it up well:

"All too often I find buyers and sellers trying to line everything up for the perfect close and move. Real estate transactions have lots of moving parts, seriously, internal combustion engine levels of moving parts! Trying to time everything perfectly with a train of buyers and sellers all lined up like the proverbial dominoes, is like herding cats.

I have mentioned this before and it is worth mentioning again. Buyers do not try to time your closing with your move out date for perfect alignment. That is a recipe for drama. You have a seller who is moving and often waiting on another seller at the other end who is waiting on a seller, etc. Pay a few bucks extra rent and give yourself a two week cushion. It's the best money you ever spend because now you are moving slowly rather than in a rush. Even in the best case scenario with the "perfect timing" approach you end up damaging your current apartment/house and or breaking your valuables because you are in a hurry. The worst case scenario is that you have movers show up but your seller can get out! Save yourself the heartache buy giving yourself a two week cushion. You'll thank me later :)"

In the situations where multiple parties have transactions up or down the chain the number of moving parts multiplies making a percent timing situation that much more complicated and unlikely. We all have enough drama in our lives don't we? The wise person gives themselves and other a cushion to ensure a smooth and happy close.

No comments:

Post a Comment