Lock that RATE! | Said Yes to the Address

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Real Estate

You know how Realtors always have on their business card or website “Referrals are the best compliment you can give me.” Well, I just want you to know it’s true. Here is a story about folks who were referred to us by friends.

We had met the couple previously on a couple occasions when a group of us got together on motorcycle rides. They had casually mentioned they were thinking of moving a little north, north of Lee County that is , all the way north to Charlotte County. One afternoon during early summer they called and said, “Ok we are ready now. We don’t have to move until November, so we have lots of time.” They did have lots of time, about six months and six months is great amount of time to find and close on a house even with a mortgage. Well, you know the story. They would make offers and King Cash would beat them out, or Mr. Multiple Offer waiving inspections would come along. Then there was this one house that fit what they were looking for and ugh! it went under contract fast. But wait- that deal fell apart and we were on it. Made an offer, offer accepted. During the inspection an issue with the septic system came up and the Seller agreed to take care of it. The thing is with septic systems the permitting process can take a long time, as in six to eight weeks to get the permit. Both Buyer and Seller agreed to extend the closing date until November allowing more than enough time to get the septic repair done. Then the punk Ian came to town. What a mess. Fortunately, the house they were selling in Lee County did fine in the hurricane. The big problem regarding the home they were buying in Charlotte County was IAN caused a huge delay in the county permitting process, from the area being without power and internet, to the flooding, to the incredible demand for new permits, to county employees dealing with their own personal property being destroyed. Now all that extra time we had was quickly floating away. You see, the Buyers had locked in a fabulous rate in September, and now interest rates are going up. If this home doesn’t close on that date in November, it will cost the sellers $30 a day to keep that rate. We are at the mercy of a county permit. All the calls and asking (or nagging—which Ray says is one of my strong suits) could not make a permit magically appear. Then the good news came in—permit is in, and the work can be done! They closed on the last possible day of their rate lock! YAY!!! And that is how they “Said Yes to the Address.”