Update--the closing

deanie1October 26, 2009

We arrived at the closing and the sellers weren't there. Normal?? When I asked about that our realtor said that he has their signed papers and that the sellers actually signed them three days ago. Is that normal? No wonder our realtor and the sellers were unwilling to negotiate about the alleged workshop.

Well, everyone, a huge thank you to you all for helping me get through the past 24 hours. I don't know what I would have done without your opinions. I see now that I probably did mess up and that my realtor didn't really take care of this dumb first time homebuyer.

But my husband is happy. I'm glad it's over. I am focusing now on just trying to enjoy our new house. Thanks again!

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ncrealestateguy

Enjoy; In the big scheme of things, you did really well... historically low rates and an $8000 tax credit, and you probably got a really good deal on the purchase price too!

    Bookmark   October 26, 2009 at 7:12PM
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calliope

When I closed on some land two years ago, I found the same situation. I'd always had the parties involved there face to face. I sold a house after that and the buyer was there at the closing. I don't know what the custom is in different areas or if it's changing, but it took me back too when we did the land closing.

    Bookmark   October 26, 2009 at 7:13PM
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Happyladi

I hope you both enjoy your new home!

    Bookmark   October 26, 2009 at 8:03PM
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terriks

Entirely normal in my state. Buyers and Sellers rarely ever are at the escrow office at the same time. There is not need for it. They each have different paperwork.

    Bookmark   October 26, 2009 at 9:08PM
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artemis78

Normal here too. I also found it odd that buyer and seller aren't in the same room for the offers, either (just the agents and the seller here). Ah, well.

Congrats on the house, though! The workbench and electrical outlets are really pretty minor in the grand scheme of things. (Really---the electrical outlets can be had for a few hundred bucks....I was amazed when we did our first electrical work and wondered why people didn't just fix everything electrical given how affordable/simple it turned out to be!)

    Bookmark   October 27, 2009 at 1:21AM
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jrdown

I have lived in California and Missouri and bought and sold homes in both states. The closing was only attended by the buyers, sometimes their agent although not always and the company that is handling the closing.

I, actually, have never met a buyer or seller to any home over the past 3 decades. Only dealt with my personal agent. Never saw the other agent.

Scads of paperwork and always needed to bring a big check to closing when I was buying. Sellers had always already signed paperwork before we got there. Don't think it was three days in advance but either the same day or the afternoon before. Either way, it was after I had the final walk-through and I came prepared with a checklist.

So happy for your closing and you will settle right in and make this home all that you want it to be.

Congrats!

Robyn

    Bookmark   October 27, 2009 at 5:50AM
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cordovamom

I've had the same experience as Robyn over the past 30+ years. Never met the seller or buyer at closing or at the negotiating table. On occasion I'd meet the buyer or seller at inspection and sometimes final walk through. Enjoy your home purchase. Don't sweat the small things that happened during the transaction and learn from them so that you'll be even more prepared for your second house purchase in the coming years. Good luck with your new home.

    Bookmark   October 27, 2009 at 7:49AM
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brickeyee

The only thing the seller needs to execute is the deed of conveyance for the property.

I have signed them from a hospital bed and had it sent to the settlement attorney.

The buyer is the one doing all the signing since they normally have to execute all the loan documents, along with a mortgage note or deed of trust.

When I have been at settlement it is all of about 15 minutes as a seller.

    Bookmark   October 27, 2009 at 8:32AM
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sweet_tea

In my area is is normal for only 1 party, or neither party, to be present at closing.

Often, the other party signs docs ahead of time and sometimes, the other party is located in another state (or country) and signs/notarizes ahead of time and mails the docs to the title company or attorney.

I read somewhere that it is best for the parties to sign separately, just to avoid any last minute renegotiations that could cause the deal to fall through.

    Bookmark   October 27, 2009 at 11:59AM
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Beemer

We don't need to sign at the same time in ND or MN, but on our lake property, I wish we wouldn't have been there together. The wife of the seller just kept sobbing...they had to sell because they were in over their heads -- and we were the only offer that covered their outstanding balance! We even moved up our closing a month + a few days so they didn't have 2 more payements to make!

We actually did them a favor -- if they had been foreclosed on, the bank could have hit them with the difference!

    Bookmark   October 27, 2009 at 2:36PM
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playful70

"I see now that I probably did mess up and that my realtor didn't really take care of this dumb first time homebuyer.
"

You are not dumb and you did nothing wrong.
Buying a house is one of the most complicated things you'll ever do. The rules vary not just by state but by counties and towns and sometimes neigborhoods.
It's a huge investment, nerve wracking, and inspiring, especially your first time.

The next time you buy a house or sell one, you'll do better.
You'll know where to look for answers,you'll know that your real estate agent doesn't know everything and that he or she may not be looking out for your best interests.

I think you did great.
You managed to buy a house you wanted at a price you found acceptable ( or more so)
Big Congrats!

    Bookmark   October 27, 2009 at 5:11PM
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Gina_W

Beemer, how uncomfortable for you. I can't imagine.

    Bookmark   October 27, 2009 at 6:36PM
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terriks

You are not dumb and you did nothing wrong.
Buying a house is one of the most complicated things you'll ever do. The rules vary not just by state but by counties and towns and sometimes neigborhoods.

Not to mention that every deal is different.

    Bookmark   October 27, 2009 at 6:39PM
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dgmarie

We didn't attend the closing on the house we sold, and the sellers did not attend our closing when we bought. Attorneys went to both. Signed everything ahead of time.

Funny thing was our MORTGAGE broker attended our closing. After three years of looking for a house and talking to us on the phone, he wanted to meet us face to face. He brought us a bottle of wine. I thought that was very sweet.

    Bookmark   October 27, 2009 at 7:09PM
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neesie

Don't feel dumb about not knowing they could take the workbench. Your agent should have known, should have said something but probably assumed they'd just leave it. Your agent figured wrong. I went into my first real estate deal wide eyed also! As someone else said...they're all different!

Now relax. You'll be in your "new" house for a long, long time!

    Bookmark   October 28, 2009 at 6:50PM
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deanie1

THANK YOU EVERYONE for your support! Tonight my husband and I went out to our new house and walked through and made plans and it just seemed like all the stress of getting the deal done melted away. Could it be like childbirth? Yeah, it was stressful (there was a lot of other junk I never bothered to mention) but now we are happy!

I have made a long list of "lessons learned" and will not be recommending our realtor to anyone I like. He did send me a $25 gift card to my favorite store and one to DH to Lowes--don't know if he does that routinely or what. But I am now all set to start enjoying my new house.

    Bookmark   October 28, 2009 at 9:07PM
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Gina_W

I wouldn't blame your agent for the work bench misunderstanding or "failure" to negotiate for it.

    Bookmark   October 29, 2009 at 4:35PM
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calliope

I agree.......this one isn't the agent's fault. However, there may have been other issues in which you are justified saying you wouldn't recommend him for which we wouldn't know.

I think of it this way. I own a range of g'houses and when a customer comes in, there are thousands of questions they could ask me about a plant or an order, or culture none of which I can automatically anticipate. I'm not Karnak. LOL. Neither are realtors. When I try to fill people in on things I think they should know, I have to judge the experience of the consumer and most of mine are other people in the business. If I try to assume a customer is a novice I oftentimes come across as patronising. And if I don't tell them something I think everyone knows and they don't, then of course I get blamed for not telling them. Laughing again.

I always use a realtor when I am selling, not always when buying, but the one I have used most often has always, always tried to answer any questions I have, or address any concerns and she always got the answers. Sometimes she was at the mercy of the agent with whom she had to deal and it was just as frustrating to her as it was to me.

Best wishes on your new adventure.

    Bookmark   October 29, 2009 at 7:25PM
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Billl

We recently bought a house and sold another.

For our purchase, no agents were involved, so we had met the sellers on multiple occasions. We had 1 big closing where everyone signed, we all shook hands, and they handed over the keys.

For our sale, we signed in the morning and the buyers came in the afternoon. Their agent came to our signing, but all she did was say hi/thanks and then left.

    Bookmark   October 30, 2009 at 11:48AM
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