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The 80 Types of Turbulence we see in Real Estate Transactions…

The Buyer:

  1. Does not tell the truth about the loan application.
  2. Submits incorrect information to the lender.
  3. Has recent late payments on credit report.
  4. Found out about additional debt after loan application.
  5. Buyer loses job.
  6. Co-signer loses job.
  7. Income verification lower than what was stated on loan application.
  8. Overtime income not allowed by underwriter for qualifying.
  9. Applicant makes large purchase on credit before closing.
  10. Illness, injury, divorce or other financial setback.
  11. Gift donor changes mind.
  12. Cannot locate divorce decree.
  13. Cannot locate petition or discharge of bankruptcy.
  14. Cannot locate tax returns.
  15. Cannot locate bank statements.
  16. Difficulty in obtaining verification of rent.
  17. Interest rate increases and buyer no longer qualifies.
  18. Loan program changes with higher rates, points and fees.
  19. Child support not disclosed on application.
  20. Bankruptcy within the last seven (7) years.
  21. Buyer/co-signer does not have steady 2-year employment history.
  22. Buyer switches to job requiring probation period just before closing.
  23. Buyer switches job from salary to 100% commission income.
  24. Family members or friends do not like the home that the buyer chooses.
  25. Buyer is too picky about property in price range they can afford.
  26. Buyer feels the house is misrepresented.
  27. Buyer has spent money needed for down payment and closing costs before closing date.
  28. Buyer does not properly “paper trail” additional money that comes from gifts, loans, etc.
  29. Does not budget for closing costs and down payment.

The Seller:

  1. Loses motivation to sell (job transfer does not go through, reconciles marriage, etc.).
  2. Cannot find a suitable replacement property.
  3. Will not allow appraiser inside home.
  4. Will not allow inspectors inside home in a timely manner.
  5. Removes property from the premises the buyer believed was included.
  6. Is unable to clear up liens against their property – short on cash to close.
  7. Did not own 100% of property as previously disclosed.
  8. Thought getting partners’ signatures was “no problem,” but it was.
  9. Leaves town without giving anyone Power of Attorney.
  10. Delays the projected move-out date.
  11. Did not complete the repairs agreed to in contract.
  12. Seller’s home goes into foreclosure or power of sale.
  13. Misrepresents information about home and neighbourhood to the buyer.
  14. Does not disclose all hidden or unknown defects and they are subsequently discovered.
  15. Builder miscalculates completion date of new home.
  16. Builder has too many cost overruns.
  17. Final inspection on new home does not pass.
  18. Seller does not appear for closing and won’t sign papers.

The Realtor(s)

  1. Sometimes have no client control over buyers or sellers.
  2. Delays access to property for inspection and appraisals.
  3. Unfamiliar with their client’s financial position – do they have enough equity to sell, etc.
  4. Does not get completed paperwork to the lender or lawyer in time.
  5. Inexperienced in this type of property transaction.
  6. Takes unexpected time off during transaction and can’t be reached.
  7. Does not do sufficient homework on their clients or the property.

The Property:

  1. Municipality will not approve septic system or well.
  2. Termite report reveals substantial damage and seller is not willing to fix or repair.
  3. Home was misrepresented as to size and condition.
  4. Home is destroyed prior to closing.
  5. Home not structurally sound.
  6. Home is uninsurable for homeowners insurance.
  7. Property incorrectly zoned.
  8. Portion of home sits on neighbour’s property.
  9. Unique home and comparable properties for appraisal difficult to find.

Lawyer/Title Company:

  1. Fails to notify lender/agents of unsigned or unreturned documents.
  2. Fails to obtain information from beneficiaries, insurance companies, or lenders on time.
  3. Lets principals leave town without getting all necessary signatures.
  4. Loses or incorrectly prepares paperwork.
  5. Does not pass on valuable information quickly enough.
  6. Does not coordinate well, so that many items can be done simultaneously.
  7. Does not find liens or any title problems until the last minute.

The Appraiser:

  1. Is not local and misunderstands the market.
  2. Is too busy to complete the appraisal on schedule.
  3. No comparable sales are available.
  4. Is not on the lender’s “approved list.”
  5. Makes important mistakes on appraisal and brings in value too low.
  6. Lender requires a second or “review” appraisal.

Inspectors:

  1. Inspector too busy to schedule inspection when needed.
  2. Inspector too critical about condition of property, hoping to create work for themselves.
  3. Home inspector not available when needed.
  4. Inspection reports alarm buyer and sale is cancelled.

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Michael Cowling is a top notch realtor. He sold our place in a week and over asking price! He was super easy and professional to work with. He's a total rock star and get it done kind of a guy. A real cowboy in the industry if you ask me. I very highly recommend him!

Laurel Byrne

 

Having bought and sold three times with Michael, I can assure you that his market knowledge will lead to a higher than expected sale price when you are selling and a lower than expected purchase price when buying. He makes a complicated process simple & stress free.

Harold - Richmond, B.C.

 

Thank you, Michael you renewed our hope in selling a home again. After six months on the market with another high-profile Realtor, and not one offer, you sold our home in two weeks.

Albert

 

Flo and I would like to thank you for your professional services during the sale of our house and the purchase of our new home. You have renewed my confidence in the Real Estate profession after many months of doubt. After being on the market for five months with the competition you sold our home sold for over 100% of the asking price in just three days… I again would like to thank you Michael and your team; we would not hesitate to recommend you to anyone in the sale or purchase of a new home”.  

Al and Flo

 

What a difference an agent makes. After three months of frustration with another realtor we were very happy with the care and experience that we received from Michael Cowling and his team. Honest, trustworthy, professional and all while showing due care and concern for both the sale of our old home and purchase of our new home. Michael was always available to help us with any questions or concerns, even after our sale was complete. It is very hard to find the type of realtor that will give you the time, care and great experience that Michael and team bring to the table. You made a difficult process seem very easy.   

Andy and Betty                             

 

We just wanted to let you know how much we appreciated all you did for us! It didn’t seem like we would ever move until we called you. When you took over our listing we knew our situation would change right away. You are so wonderful at what you do and we are so glad to have met you. You really were impressive from beginning to end and we will be sure to contact you when that time comes to make a move. Thank you!   

Maria and Tom                                                             

 

After wasting 4 months on the market with another firm and no offers we interviewed 5 agents and went with RE/MAX Michael Cowling and Associates. Michael you are a true professional and a very good Realtor. Sold at full asking price and record price for the Building. I have nothing but respect for you and your team. I will gladly use again and recommend you to others. Best Wishes to all of you.  

Taylor                                                                                                 

 

 Prior to listing our home with Michael we had a very bad real estate selling experience. When our home expired from MLS we interviewed several realtors looking for a good fit and more importantly timely results. We ultimately selected Michael Cowling. We liked the honest and realistic information about the current market conditions and what seemed to be a very complete selling system. Michael far exceeded our expectation with the negotiations using the multiple offer situation to our best advantage. Thanks Michael, we will be recommending you to my friends and family.   

James and Paula                                                                                                  

 

Our sale seemed like it was never going to happen until you came along. What a relief and thanks for your help and guidance. We will definitely call you for our daughter’s sale next year. 

Tim and Agnes

 

We were going to give up on moving this year. Our interviews with realtors were discouraging until we met Michael. We were impressed with Michael’s friendly, relaxed but at the same time, very professional and business-like manner. Communication was outstanding as he kept us informed throughout the entire process and answered all of our questions in a timely matter. I highly recommend him, and he is and expert in the area. This made it much easier for us. Thank you to you and Margie and the rest of your team for great service. 

Les and Serena                  

 

Michael, I just wanted to thank you and your team for the professional manner conducted toward the sale of my home. My second attempt at selling was very positive and I am thankful I hired you. Also, just to let you know, I have already referred you to my brother that is considering selling his home and I will continue to recommend you to others.

Jane                                                                                     

 

Our home had been on the market for close to a year with no significant results when we contacted Michael Cowling. The service delivered was thorough, timely and effective.  Michael’s calm, confident and reassuring nature made us very comfortable with some stressful decisions. Our home was sold at the higher end of the price range Michael had determined when we put it up for sale and we were very comfortable with the outcome. Great work!                

Lucy and Jill                                                                                  

 

I thought you were excellent Michael. You were always there for us. Very Professional and knowledgeable on the market and dealing with the negotiations. We had previously tried to sell with a well-known real estate company and had no luck. From the beginning we could tell the change was a significant upgrade to what we were used to. You had a plan to market our home and answers to any questions we had. You and Rachel definitely knew what you were doing. The results and timing were exactly what you predicted and we expected.        

Jeff and Loraine                                                                                   

 

 By far the best realtor we have worked with and we have had a few.  A straight shooter with an easy going professional manner that puts you at ease. You can tell from the beginning that he has your best interests in mind. Quick to respond to emails and messages and overall a very hard working realtor. I was kind of disappointed he sold the home sold so fast. He is a good guy to have around.   

Mark

 

My experience with RE/MAX Michael Cowling and Associates was uplifting after having a negative experience with another realtor. You and Rachel were very professional, prompt and knowledgeable, and able to handle the sale of our property while maintaining full cooperation from our tenants. This was extremely valuable to us and I would gladly recommend you to other sellers.  

Winson                                                                                                                  

 

Michael we really appreciated your professionalism, you kept us calm and focused on what was important to us in the negotiation of the price a dates. It was a pleasure to deal with your staff as well. We always had lots of warning for viewings and good feedback. You are a credit to your profession and we will not hesitate in recommending your services to others. (Previously on the market for 5 months)                   

Fred and Bunny                                                                            

 

Working with RE/MAX Michael Cowling and Associates has been an all-around great experience. We had listed our house previously with a different agent and were not at all happy with the experience. We thought the process of trying to sell our home again was going to be difficult and stressful. We interviewed three agents and went with Michael. We took his advice on pricing and minor staging changes, and in a few days Michael brought competing offers and best of all the price we expected. We could not be happier service and professionalism and would highly recommend them to anyone buying or selling. Thank-you Michael and all of your team.  

Lynda                                                                                            

 

 Michael you and your team were a welcoming change after the experience I had with another agent. Not only was Michael very knowledgeable and accurate in his analysis of the changing market condition, but also prompt and thorough in providing viewing feedbacks and addressing any concern or question that I had. Rachel was always on top of everything. Together the members of the Michael Cowling team reduced much of the stress associated with selling a home, and ultimately lead to the property being sold in a week.   

Sal