Matthew Maschler:
Welcome back to the Real Estate Finder podcast. I’m Matthew Maschler of the Real Estate finder@realestatefinder.com. And with me as always, the co-host Stacy
Jill Glanzer:
Garcia.
Matthew Maschler:
Hi, Stacy, how are you? I’m awesome. And we also have Jill Glanzer here. Say hello, Jill. Hi. All right. So we, um, last week I thought we recorded for like five minutes and we filled an hour, and that’s the slots that we have here, one hour slots at Pop Poppi in, um, east Boca just opened up in Palm Beach Gardens, and we were talking about the, uh, seller’s side of the transaction. And we started from, you know, us as agents when we get the phone call from somebody that they wanna sell their house, and then we come to their house and make our listing presentation. And we, we talked about all of that, and we, we got as far as, uh, receiving an offer or multiple offers. Uh, so this is part two of the seller’s side of the transaction. We’re gonna start with, uh, receiving, um, an offer or multiple offers. And, uh, Jill and Stacy, my question to you is, have you ever, while you represented the seller, received an offer, uh, presented it to the seller, and then the seller said, okay. And signed it?
Jill Glanzer:
Yes. Yeah.
Matthew Maschler:
Is it common?
Jill Glanzer:
Not common? Not common?
Matthew Maschler:
You know, I definitely remember as a buyer, possibly, you know, sending out an offer. Actually, now I’m remembering my very, for one of the first times that happened, I was the listing agent on a property that I owned. I bought a lot of distressed assets in the, uh, last downturn. And, uh, I owned a, uh, a, a piece of property, a house up in Loxahatchee. And, uh, we listed it, um, and we received an offer immediately, full lasting price, clean offer. And I was like, huh, I don’t think that’s ever happened.
Jill Glanzer:
<laugh>,
Staci Garcia:
I wanted to say, never have I ever received an offer. And the seller said, okay, yes, <laugh>. So
Matthew Maschler:
There, because if you receive a full price, clean offer right away, a lot of times the seller thinks there’s
Staci Garcia:
Something wrong
Matthew Maschler:
With it. Did I price it too low?
Jill Glanzer:
Yes. True. And, and I’ve advised seller, I have, I advised that seller, you really should counter
Matthew Maschler:
Why not accept it’s a full price offer.
Jill Glanzer:
Yeah. But
Matthew Maschler:
Sometimes
Jill Glanzer:
There’s, this wasn’t full price, but I get what you’re saying.
Matthew Maschler:
No, if it’s not full price,
Jill Glanzer:
Sometimes they’re like, you receive a full, I just, I’m happy to take it. I’m good.
Matthew Maschler:
You receive a full price offer, how much do you want for the house? 500,000. Great. I found you a buyer. 500,000. Oh, gimme five 50. Sometimes the buyers are out there, they’re watching these neighborhoods and watching these properties. The property hit the market. The buyer says, okay, I’ll give you want 500, I’ll give you 500. And, and, you know, there’s no reason not to take it. That’s, you know what the property’s worth, and there’s no reason to think that somebody else out there might want it more. This person who came right away when the property was listed, they were the person that wanted it the most. So sometimes it’s o it was the first time I’ve, like, I’ve been okay. Just accepting an offer and not, you know, not sending it back and negotiating.
Staci Garcia:
Yeah. I have, I have a buyer now who buys distressed properties. Uhhuh. So she does get mad if they do accept the first offer,
Matthew Maschler:
If they do
Staci Garcia:
Not them as accepting them. She thinks
Matthew Maschler:
She offered too much. No,
Staci Garcia:
She’s the buyer and she comes into a property and the, let’s say she’s, she wants to be the first person to see it. Mm-hmm. <affirmative> and I always put, have an offer ready. Okay. All I have to do is basically press send. I have everybody in my offer all scheduled, and then the amount, everything when we walk in and the agent says, you’re the first person to see it, but I already do have offers <laugh>
Matthew Maschler:
In this market that happened. Yes. Okay. It never happened in the history of the world
Staci Garcia:
Before. So now we have to adjust for the fact that she said that. Mm-hmm. <affirmative>. Yeah. We have to already think, should we be going above ask or higher than that? You know, that we already went above ass, let’s say, or should we believe her, or is she bluffing? Mm-hmm. <affirmative> and more recently, twice this happened to us. They have accepted an offer, but we can come in as a backup, let’s backup. And we’re the first person to see the property. Uhhuh <affirmative>. So now when we go, we’re, we’re already ready with our offer. It’s already above ask and maybe I should send it before we even see the property.
Matthew Maschler:
Right? Right. That’s what everybody else did.
Staci Garcia:
And, um, so my, my buyer has said, you know, why do they accept the first one when they could get possibly a hundred thousand dollars more? Right. They didn’t even give us a chance to go higher.
Matthew Maschler:
Right. If, if, you know, you have scheduled showings, right? Like, why were the buyer accepted on Tuesday when there’s three more showings on Tuesday? That happened to me with that villain in your fa u Yeah. Uhhuh <affirmative>. I, I was, I had a scheduled appointment on the very first day that it was available, and the person sold it because they sold it. They, they sold it to a customer of theirs and double-ended the commission and still
Staci Garcia:
Sold themselves short.
Matthew Maschler:
And so, and, and we, I know, and, and I had offered, I had made an offer for more money in the, when the property closed, I said, I said, look at this. I had offered them $20,000 more buyer pays for title everything, clean, clean, clean. And they accepted this other offer for less money because the buyer, um, because the agent had a double end of the deal. It’s crazy. But anyway, let’s getting, let’s go back to the subject of the seller’s transaction in general. When someone makes an offer, the seller most of the time doesn’t just say, okay, and sign it. The seller’s gonna wanna make a counter offer. So this, um, and you can counter offer on any of the terms that we mentioned, um, last week, right? Not just the price, right, but the number of days for inspections, the closing date, the financing contingencies, et cetera. And you can make the offer more acceptable on any of those terms.
Staci Garcia:
Would you wait for more offers to come in?
Matthew Maschler:
I wouldn’t wait. I’d still negotiate because then, then takes a while to go back and forth, draft the documents and have things signed. I mean, in this, this market’s unusual when you have just a lot of buyers mm-hmm. <affirmative>. Um, so I don’t think I’d wait because I’d want to move this one along while I’m negotiating with other people as well. You’re not bound until it’s all signed. Right? Uh, plus I also think that some of the madness and of buying is, is, is over. I think people have calmed down a little bit. Um, so, um, okay, so we make, we make the counter offer. Sometimes you go through the, um, the contract just with a pen, change whatever you want, initial all the changes, send it back to the buyer. Uh, I like to do that as a seller. I’m not gonna redraft the contract.
Some people like to negotiate with the other buyer, like over the phone. Um, I like to, when I present an offer or a counter, I like that the person on the other side can say, okay, and sign it. So that’s why I like to do a written counter back. I just go through the contract, change the terms, change the price, change the closing date, change what I want with a pen, initial everything, sign everything back, and send it back to the buyer as a written counter offer. And that way, if the buyer would like to accept it, all they have to do is sign. Jill. Is is that what you would normally do? Yeah.
Jill Glanzer:
I mean, generally I like doing that because if you’re negotiating verbally first, before you do that, there can be things lost in translation. So what happens? Sometimes you’re negotiating and then they’re not negotiating on a particular term, and then they go back and we’re all set, and then all of a sudden they realize there’s another term they wanna negotiate on. This makes it very clear, right? It’s great news. The seller has decided to accept your offer with the following changes, very clearly outlined the changes. Here’s your contract.
Matthew Maschler:
You could do it that email, right? With the following changes and just make a list of changes. But now what happens is, instead of the buyer being able to sign,
Jill Glanzer:
Waiting for the buyer’s agent to do, if the
Matthew Maschler:
Buyer, if the buyer wants to say, okay, now the buyer agent has to write up a whole new offer with these terms.
Jill Glanzer:
Yeah, I don’t like doing that. I would much rather do
Matthew Maschler:
It. It makes it mark it out easier for the buyer’s agent to just reply, agreeing to some of, but asking for some changes. I’d rather make it easier to accept, make it a little harder to ask for a couple changes. So if, so, if you, if you do an email with all the, all the changes that you want, I think it’s against the seller’s interest. Now, if the buyer accepts it, signs it and returns it, great. You’re under contract. If not, and they want to
Jill Glanzer:
Mark something else, make
Matthew Maschler:
A counter. Yeah. That’s where I suggest the buyer draft a new offer. Too many markups. The contract gets very messy. Now, the buyer’s agent should sit with their software. We recommend total brokerage. It’s a good CRM for drafting contracts. Um, but you can use form simplicity or, or any other, uh, program that your broker supplies you, and you just draft up a new contract incorporating all the terms. I think it’s sneaky to put in a new term that was never discussed and not call it out to the other agent. You know? So if you send me the contract back, Hey, Matt, I, I, I, I made all the changes, um, and I added, or, but I didn’t make these two changes that you wanted, and I added this other term. Um, so I think, I think it’s sneaky to make a change without calling it out.
Yeah. But, but now, when I get the contract, I have to start from the very beginning with those 10 things that we talked about last week, um, and check, and then ex start the process over again with the seller. Uh, and then again, if the seller has, if the seller has a few changes, now what I’ll do, instead of writing it up and signing an initial, and if it’s one or two changes, then I’ll just call, that’s when I’ll call the Buyer’ss agent and say, listen, you know, we got this and, you know, come up $20,000 and we’re good. And then have the buyer send, uh, send the new offer, or they’ll tell us, okay, great. Make the change, sign it, and send it back to us. And then we’re under contract. So when you’re under contract as the seller, un, unless there’s anything you guys want to add, no, I think that’s, that’s a good summation.
So this is important to know when you’re under contract as a seller, especially under the Florida as is contract, if you’re using a standard contract or Naples, Naples and Jacksonville have their own contracts. But if you’re in the Florida as is contract, and you’re under contract as a seller, you generally do not have the right to cancel. Right. The buyers have some outs, but as a seller, you really have to understand that you are not in control. You are under contract to sell that the buyer has a few outs, but you don’t. Right? So af the, the buyer’s biggest outs being the inspection contingency, um, you know, we joke around in, in internally with mean some other agents. It, it’s as is with Right to inspect. It actually means as is with Right to renegotiate. And a lot of times the buyers will try to renegotiate under the inspection contingency, and you have your financing contingency.
And, um, it used to be that when the financing contingency ended, but at any time until closing, if the property didn’t appraise, you could actually cancel, the buyer could cancel the contract. Now that Right to cancel the contract if the property didn’t appraise ends when the mortgage contingency ends. Which makes a lot of sense, um, because, you know, you don’t wanna be a couple days before closing and the buyers cancel. Um, but it makes, uh, you have to make sure your, your lenders are in line, uh, to make sure that your appraisal comes in within the mortgage contingency period. Um, and then, uh, those are the big ones. Those are the big, um, timelines. And after that, if the buyer doesn’t have the right to inspe right to cancel as a seller, you’re pretty assured, um, that if there’s no more contingencies, that if the buyer does cancel, uh, their deposit is at risk.
That’s why you want that large deposit, because now you’re packing up your stuff and moving. And if the buyer breaches and there’s not a big deposit, you know what’s gonna pay you back for your, uh, for your trouble. Um, so you, you have to get out. Some people don’t know, don’t actually realize that they have to be out by the closing date. Um, so you have to be outta the house by the closing date. Uh, you should have lined up your new residence by then. And usually on our listing appointment, we find out if, if you need our help in finding a new buyer, a new, uh, place to live. But there are times we’ve seen it, we’ve represented buyers where the closing was imminent and the seller had nowhere to live. And that’s not the buyer’s problem. The seller has to get out, <laugh>.
Um, so the seller has to get out, and that’s really, that’s really the seller’s only concern. Um, get out. And on the day of closing, get the check, um, the buyer does have a, the right to a walkthrough. Um, the walkthrough is really to ensure that the property’s in the same condition, that the buyer saw it at the day of the inspections or at the day of the showings, um, that everything’s still working. Um, if there was a problem on the day of the showing, and it, and it existed, you know, you can’t say, okay, you have to fix that window. If that window was always broken, uh, in New Jersey, the, um, the town would, would come in and inspect and make sure that a certificate of occupancy is issued. A lot of my New Jersey customers don’t realize that no one’s checking on this house.
The house could be, have tons of code violations and buyers buying it, so no one’s checking on that house. And, um, if you had your inspection, you know, you’re really, you’re relying on that inspection. Um, and it’s, that’s why it’s difficult to wave inspections, um, because you really wanna find that out. Um, oh, you know, last week I talked about material defects, effectively, the value of the house mm-hmm. <affirmative>, um, it, it, I, I left something out That material defect had to, had to have been like, hard for the buyer to discover if it was obvious. Um, you know, if the roof is leaking on the day of the showing, the seller doesn’t have to disclose that the roof is leaking. So I left that out last week that it has to be, uh, um, difficult for the buyer to uptake to, to, um, to observe not readily, readily observable. Um, so that’s a big whoops on my part, <laugh>. So that’s why you have to listen to part two whenever there’s a part one. Um, so, and then on the day of the closing, you get your check and you go, you go, what?
Staci Garcia:
How did you mention that? It needs to be clean?
Matthew Maschler:
It only needs to be clean if the contract says clean. Hmm. Some people leave, some people leave the house in less than cl sanitary conditions. So that’s
Staci Garcia:
A bee broom
Matthew Maschler:
Swept. Usually the standard is broom swept it, it should be vacant. There shouldn’t be like bags of garbage and, and, and, and, and junk around. But a lot of people, a lot of sellers leave junk in the garage or leave, leave stuff in the house. And there’s very little buyer can do. There’s very little buyer can do. If on the day of the inspection there’s a bunch of garbage.
Jill Glanzer:
We had that once Yeah. Where we were representing the seller, and there was some stuff in the garage, like paint things that he was leaving behind to be nice.
Matthew Maschler:
The seller fund was being nice and
Jill Glanzer:
The buyer was not wanting. Mm-hmm. <affirmative> did not want them, and they were
Matthew Maschler:
Upset. Units are a big issue as well. Yes. Wall units are a big issue as well. So, um, yeah. It, it, the, the standard isn’t clean. And I actually, I always think it’s funny when people want to write a term into the contract and write that it should be cleaned. And they always say, like, professionally cleaned.
Staci Garcia:
I have a buyer who always writes
Matthew Maschler:
That professionally cleaned mm-hmm. <affirmative>. But
Jill Glanzer:
Like, what does that mean? So like, is there a license for a
Matthew Maschler:
Cleaner? Like, all right, I’m living in the house for 20 years, my wife cleans the house, all of a sudden we’re moving out. It needs to be clean. No, no. You professionally clean <laugh>. Like, we have to hire someone like, like my wife, you know, she’s a
Jill Glanzer:
Professional cleaner. She’s
Matthew Maschler:
Not a professional cleaner. She’s not profess Right. I mean, you know, I I I always laugh when I hear professionally cleaned. Like, it’s not like a roofer that needs a license. What does that mean? <laugh>? You, you, no, this is not clean. Like, I dunno, it’s clean, but this isn’t professionally clean.
Staci Garcia:
How about deep clean,
Matthew Maschler:
Deep clean. Yeah. Yeah.
Jill Glanzer:
What does that even mean?
Matthew Maschler:
Deep clean is a sales subjective. Deep clean is a sales technique that the cleaning services use to justify that, the things that they don’t do on a weekly basis.
Staci Garcia:
Oh. So we’re deep cleaning refrigerator shelves,
Matthew Maschler:
Refrigerator shelves, the, the window sills,
Staci Garcia:
The tops of the ceiling fans.
Matthew Maschler:
Yeah. Yeah. So, you know, the, the, the cleaning service will will say, oh, deep cleaning, we’re gonna charge extra. Um, but then your regular weekly cleaning’s different. And then, Hey, you, you, you didn’t get to this. Oh, no, no. That’s, that’s not part of our regular weekly service. That’s part of our deep cleaning service. But yeah, there’s cleaning services out there, but I’m not a hundred percent sure that they’re professionals. And I’m not trying to dig on a, on a cleaner, on a cleaning, on a cleaning service. That makes sense. Sometimes I don’t even know if realtors are considered professionals. <laugh>,
Staci Garcia:
I know a lot that aren’t <laugh>,
Matthew Maschler:
But, um, yeah. I, I always laugh when I, when I see professionally cleaned, because, you know, an amateur
Staci Garcia:
Can do
Matthew Maschler:
A good job, can do it. And, you know, there’s no, I don’t think that there’s, you know, licensing. It’s, there’s no professional certificate. I have a certificate <laugh> in deep cleaning, advanced deep cleaning. There’s
Jill Glanzer:
Like a continuing education.
Staci Garcia:
It’s have to be OCD on the spectrum to, uh,
Matthew Maschler:
Professionally.
So in the old days, the buyers and sellers would get in the, in the title company’s conference room and everybody would sign things. Now, most of the time the sellers are signing all their documents in advance. Yes. A lot of times by email. Um, most of the seller docs don’t have to be notarized. So you, you know, email and print them out, or email and, and, and, uh, uh, sign ’em electronically or swing by the title company’s office in advance, sign everything. What should the seller leave for the buyer? They should leave the keys, uh, garage door remotes, keys to the
Jill Glanzer:
Mailbox manuals if they have them for mailbox man manuals. Yeah. You know, for appliances, things like
Matthew Maschler:
That. It’s also, it’s also nice if the owner, uh, if it’s guard gate, if the owner leaves the buyer’s name at the gate on the day of closing, there
Staci Garcia:
You go. That’s good. And all of anyone else that isn’t Yeah. Coming. Now that we know that.
Matthew Maschler:
Right. Right. If this, if the buyer’s having, having a couple of people on the day of closing, it is nice for the seller to, um, put the buyer’s, guests, the buyer, and the buyer’s guests on the gate list for the date of closing. Um, maybe leave a couple phone numbers for the buyer, but, you know, keys, um, garage door remotes,
Staci Garcia:
Things like that. I’ll tell you something that I really like that I’ve had left at the house within maybe three of the last houses. All of the original paperwork when they bought the house, Uhhuh <affirmative>, the seller bought the house. Yep. So this is a, probably like a whole drawer full of stuff, you know, that maybe they didn’t wanna go through. Uh, because they’re leaving the house, they don’t really need to take it with them. Right. So if they had a permit for the roof, it’s, they left it with the house. And I like that because now I can give it to the new owner and they can say, okay, well, you know what, I’m gonna use the same roofing company, or Right. You know, that’s, if it’s, it’s a guarantee in it, I can still, you know, follow through with that. Mm-hmm. <affirmative>,
Jill Glanzer:
I guess the thing you shouldn’t leave, though, I, we did have a seller once. He had, they had bought the house brand new Uhhuh <affirmative>, and they had like pictures of it during construction and all the things that were wrong with it that were fixed. And it was like this binder and I, so
Matthew Maschler:
Some of the, so the first part of the filing cabinet was fine, <laugh>. Right. But then there was some structural issues that they took pictures of and the building and were fixed, came back and, and they were very proud because the, the family, they were builders and, and they were very proud of the fact that they caught this and then, then they had the builder address it, et cetera. That stuff, I didn’t wanna leave for the buyer. Yeah. I didn’t wanna leave the buyer anything negative about the house. Now it’s not a defect. The house is fine. It’s not something that was disclosable, but why would someone wanna leave some, some? Right. You don’t want someone to think like, you know. Yeah. So, so yeah, we, we, we, we went through that. We called that we took out anything that was, uh, icky. Yeah. Um, from the, uh, from the contract, the, the punch list, you know, that, that they, uh, they gave to the, that the owner gave us to the builder to, yeah. To fix the following thing. So we, we edited that file and probably more than more than 80% of it left
Staci Garcia:
This first. I just had a, um, we just started a walkthrough last week. Mm-hmm. <affirmative> and the, it was two weeks ago, the cellar left a wooden spoon hanging on the wall. Ah, that’s nice. It was nice actually. I don’t think it’s gonna ever move <laugh>,
Matthew Maschler:
You know,
Staci Garcia:
And it was a nice touch. And it’ll stay there with the house. Uhhuh. That’s cute. Someone left me a wooden spoon on. I don’t know if it’s a, what does that mean?
Jill Glanzer:
I don’t know.
Staci Garcia:
Symbolic, but someone left me a wooden spoon when I first bought a house in Paradise Palms. It’s on the wall.
Matthew Maschler:
Okay. So we are going to, um, uh, send us out to our audience, if anyone’s listening right now, if they, uh, understand the significance, and it doesn’t have to be a single significance, any significance whatsoever about a wooden spoon in the kitchen. Uh, please, uh, let us know by text. Maybe it’s good email, um, uh, carrier pigeon, any, any kind of message. We, we, we’d love to, uh, hear from you. Uh
Staci Garcia:
Oh. And also, we discussed this originally. How about the Mesa cases,
Matthew Maschler:
The MEA cases? Yes. Um, it is a, lemme go back to one. Just also, just remind me on the next, next week to I, I, I wanna say what I think the wooden spoon represents. Okay. Yeah. But I don’t wanna say it out now, now because I, I want to, uh, there’ll be a prize, uh, for the audience member who, um, who calls in with, uh, really any explanation of a wooden spoon. They can completely make it up if they like. Okay. All right. [inaudible] cases. Yeah. Um, you know, the seller could or should leave that, um, if you, if, uh, the meza is a, uh, a Jewish scroll of, of text, it’s, it’s a prayer that’s a handwritten, uh, it comes from a commandment in, in, in the Torah, the Old Testament of that. Uh, God commanded, uh, the Jewish people to write these words on their, on their doorposts.
So if you ever go to a, a, a Jewish person’s house, you, you tend to see, uh, especially on, on the front door, uh, you’ll see the, the meza and the, the Meza case. I often make a distinction between the Meza and the Meza case. The meza itself is the scroll. The case is the housing that protects it. Um, I’m not very religious. And in the non-religious circles, uh, some people call the case a za. Uh, some people actually hang just the case with no za inside <laugh>, which kind of defeats the, defeats the point. Um, and actually in my closing packages, if you buy a house from me, I do, uh, put it in a, uh, I wouldn’t actually buy and put, uh, possess in the closing package because it’s a, uh, it’s a holy document and should be treated with respect and, and handled with, with respect and disposed of, uh, with respect.
So I, I’ll put in a, a gift certificate for our friends at, uh, cones Judaica on Glades Road. Uh, they can come down. They just come down, they bring the certificate over cones, Judaica, and, uh, and they’ll receive a, uh, a MRSA scroll, compliments of, uh, signature real estate finder, uh, for the scroll. They have to buy themselves a case. I can’t do everything for them. Um, and, uh, generally, if you know that your buyers are Jewish, you shouldn’t leave them with a house with no maza. Uh, so you should leave them, uh, you should leave them. Now, sometimes the case or the scroll, um, has sentimental value. It’s, it was either very expensive or given as a gift. So you can remove the case and replace it with a different case. You can remove the scroll and replace it with another scroll. It really should be a, a kosher, legitimate scroll.
But sometimes people will pay up for a particular scribe or pay for a very, very special scroll. Um, I find the people that pay up for the special scrolls don’t go for a special case. <laugh>, the people go for a special case. Don’t pay up for the scroll. That’s, that’s something we learns, one or the other. But, um, but then you can, you know, just use a plastic housing in a, in a regular scroll, as long as it’s still, you know, kosher. And then you should leave that for, uh, for your buyer if you know your buyers are Jewish. Um, but then again, if you know your buyers are gonna do work to the house, if the buyers aren’t Jewish, you wanna, you know, protect the scrolls, treat them with respect, you’re free to take them off. It’s, uh, there’s no, uh, there’s no contract law on, on the case. And I don’t know, um, I always think, you know, people go, go to the fixture, right? Like it is this, fixtures stay the house, right? So a built in cabinet stays with the house. Furniture doesn’t come with the house unless it’s in the contract. So you have to figure out is if it’s personal property or if it has become attached to the property. So much so that it runs with the runs with the property.
Staci Garcia:
This happens now with the Ring doorbell.
Matthew Maschler:
With the Ring doorbell, uh, with it, it’s been going on along with the, um, brackets for, um, kin TVs. Mm-hmm. <affirmative>, um, the new revision of the contract included the brackets in, of, in the TVs as part of the house. The TVs you could take off the brackets, uh, should be left. Um, you know, by all definitions, that meza and scroll are attached to the house, cuz it’s attached with screws. However, if it’s easily removable, if it’s not meant to be permanent, then maybe it’s not, doesn’t attach to the house. And while the meza scroll is meant to be permanent, uh, it needs to be checked every once in a while. So every few years you do take that Mrs down and have the scroll inspected, make sure it’s in good condition, condition hasn’t deteriorated, has gotten wet with moisture and all the words smudge.
So if you’re supposed to take it down to inspect it, then maybe it’s not permanent. So I don’t know if there’s any, uh, law on the subject in Florida, or if there’s any cases where somebody has sued, uh, for, uh, you know, buyer suing to the seller because they took the As and, uh, or, or, uh, you know, I don’t know. I, I, I really don’t know what the law is. I, I don’t think I’ll ever know. It’s like that’s one of those mysteries of the universe. Like, I just don’t think there’ll ever be a case on this. So it’ll never really happen. It’s one of those what ifs. Uh, but I don’t think it’ll ever be answered.
Staci Garcia:
I do.
Matthew Maschler:
Yeah.
Staci Garcia:
Someone’s one day gonna one day move out, they’re gonna forget their must as a case and they’re gonna really want it and they’re gonna sue Oh.
Matthew Maschler:
And they’re gonna say no. Well, no. I mean, if, if you move out and you leave your tv, that’s the buyer’s tv. If you leave clothes, that’s the buyer’s clothes. If you leave a safe with gold and cash in it, that’s the buyers. So I, I, and I’ve had, I’ve, I’ve bought properties that had personal property on it. And on the day of cars different, because cars are titled like cars, car titled doesn’t pass in the closing. So if someone leaves a car on your property, you can get it towed, but it, you can’t own it. But if there’s money, cash, money, toys, anything in the house after the day of closing, that is the buyers. So yeah, the, if there’s something that says on the door on the day of closing, um, that’s the buyers. I don’t think that, that’s not an issue. I think, I think it’s a buyer will who, who may sue a seller if all the mazes and cases have been removed. Mm-hmm. Um, but, uh, but I don’t think that case will ever happen. It’ll be
Staci Garcia:
The case won’t happen about the case.
Matthew Maschler:
The case of the case. So what, uh, what else does the seller need to know? Um, in Palm Beach County that we just talked about, the seller title mm-hmm. <affirmative>. Um, but it doesn’t really matter as long as they get their money. Um,
Jill Glanzer:
How do they get their money?
Matthew Maschler:
Usually it’s wired from the title company. Make sure the, make sure you double and triple check those wire instructions. Um, so usually it’s wired from the, the title company will disperse according to the closing statement. They’ll, if there’s mortgages on the property, they have to pay off the mortgages. We had a situation once where our client didn’t realize that they weren’t gonna get all the money. Right. If they sold the, they sold the, the condo for 300,000, they thought they were getting 300,000. Well, they owe the bank two 20. Right. And there’s certain
Jill Glanzer:
Tax, that’s why that seller net sheet is so important at the beginning of the transaction.
Matthew Maschler:
Yeah, yeah. As we talked about last week, that seller net sheet,
Jill Glanzer:
Another thing that’s really important, if you’re selling a condo mm-hmm. <affirmative>, you need to make sure you pass on those condo docs and particular documents to the buyer. Because if you, cuz they have three days to read ’em.
Matthew Maschler:
Okay. So I, so yes. Uh, let’s, let’s, you’re selling a condom’s. Just rewind, uh, condominium law. Um, the buyer of a condominium has the right to review the condo docs and the upon receipt of the condo docs, they have three days right. Of review. And if they don’t like the condos for whatever reason, they can cancel the contract. So if you’re selling a condo, um, you really should put the condo docs in the doc, in the docs part of the mls. Right. If there’s a seven day inspection period, you, you should make sure that the, that buyer receives the condo docs in the beginning of that seven days. So that way, if they don’t like the condo docs, they can’t cancel the contract
Jill Glanzer:
And make sure it’s all the reg, you know, the condo ducks directly from the condo association because there could have been revisions and amendments since they had an old copy from when they bought it. Don’t
Matthew Maschler:
Bring out that old moldy copy from your kitchen drawer from 20 years ago because it’s not complete. If there’s been a change, if there’s anything that’s changed or anything missing, it’s three days that’ll give the buyer the right to cancel the contract on three days notice. So it could be that day before closing and the buyer can cancel and get his money back if he doesn’t. Did not, he or she did not cut. Get those condo docs.
Jill Glanzer:
Yes. The very beginning of my career that happened and it’s always been a thing for me. Yeah. And the seller will say, well, I have these documents. I’m like, even if you have to pay $60 to get a new set, electronic set of new documents, it’s worth the sale. Like, make sure you have all the information, FAQs, whatever you need. If it paid, how do you know that they actually received and read
Matthew Maschler:
Them? Yeah. The buyer will. You can, there’s a receipt. Well, there is a receipt, if you email them Uhhuh <affirmative>, you kind of have proof, okay. If the other agent emails you back that, Hey, please let me know you received them. If, if you really wanna dot your I and cross your ts, you have the buyer sign a receipt of the condo docs. Okay.
Jill Glanzer:
And there’s other documents attached to that too, which are all listed on the condo disclosure. But you really need, that is a huge thing that you need to do as a seller. So, so that includes the q and a,
Matthew Maschler:
The frequent FAQs, sorry, the lance questions. Yeah.
Jill Glanzer:
Okay. FAQ and I once had a condo association not have FAQs. And I literally, I sent to the buyer’s agent. As per my discussion with the condo association, there are no sets of FAQs. Like I made sure to let her know that in writing mm-hmm. <affirmative>, because you just want to make sure you’re very thorough with that.
Matthew Maschler:
Absolutely.
Jill Glanzer:
Because people could change their mind and they’re looking for a way out and that’s their way out. Absolutely. Right. But I believe if someone wants to buy a place, they’re gonna buy it. Yeah. Why? I hope that.
Matthew Maschler:
All right. So I think that’s a, a great overview of the, um, sellers, uh, side of the transaction. Uh, thank you for joining us on, uh, the Real Estate Finder podcast. I’m Matthew ler, matt@realestatefinder.com. And
Jill Glanzer:
I’m Stacy Garcia. And I’m Jill
Matthew Maschler:
Glanzer. And Jill, how do people get ahold of you if they wanna sell their house,
Jill Glanzer:
They can call me on my cell five six one five five eight four three eight oh or they could email me jill real estate finder.com.
Matthew Maschler:
All right. Thanks for joining us.
Speaker 4:
The Future Looks bright and the Pass by the skies dog Blue, when it’s almost that time, light shows cameras flash when I pass living in the moment, forget about the past. They saved the best for last. Matthew Mania. We about to make a splash. Life is a marathon full of sharp terms. Gotta keep pace while hands on the clock. Hot sticks. Five star real estate. I run a show you can tell the boss, play electricity energy if vibrate. I’m always on time. Even if I’m making, I make dreams come true. Living my life. Hope the same for you. Success in my sight got a real clear view. If you dunno the time, I’ll give you a clue.
Speaker 5:
You know what time, you know what time, you know what time it is? You know what, you know what, you know what is, you know what, you know what, you know what it is. You know what? Know what, you know what it is.
Speaker 4:
You know what time. Its, you know time. Its,
Speaker 6:
You
Speaker 4:
Know what time. Its mania time. It says, you know what time it’s, you know whose time it’s, you know what time it’s mania. The time it says, yeah. Got shook, scared. Can look. We’re not afraid of the big bad walk. First comes the right.
