Storyboard: Buyer gone AWOL
January 31, 2017
Have you ever had a buyer who was nowhere to be found? This week’s story is an anonymous share, but an experience that can frustrate many REALTORS®. You have worked hard with a client, completed the entire home buyer process, reached the closing date, and now you can’t get in touch with your buyer. It happens more than you think and oftentimes it’s hard to understand exactly what went wrong. Selling a house is usually not a simple process, but it can become even more complicated and expensive if the buyer is not communicating effectively. Dealing with an AWOL buyer can produce stress for not only the REALTOR®, but also for the seller and the mortgage bankers. It’s imperative to be on the same page with your buyer, so make sure to stay proactive at all times and to keep that open line of communication.
The member who shared this story anonymously provided some honest wisdom for fellow REALTORS®. “Be aware of warning signs like failure to answer or return phone calls, missing appointments, and sudden changes in communication.”
What’s going on in your REALTOR® experience? We want to share your story – big or small – so tell us about your inspirations, obstacles, and lessons. Contact us at Outreach@varealtor.com. Submissions are welcomed on a rolling basis.
2 Reader Comments
Years ago, I had a buyer that came in and placed a contract on a piece of property,
He put $1,000. Earnest Money on the property, left phone number and was never
heard from. After many attempts at last address known and no longer a working
phone number, I petitioned the court to review the circumstances and make a decision
to distribute the earnest money. The Earnest Money was held in escrow and distributed
to the seller by the court. The contract was null and void after the closing date in the contract, however, the buyer was in service and I was not sure if he had been called to
overseas duty or other military duties. Under those circumstances, I felt it was best
the court make the decision to distribute the earnest money.
Had a buyer on a listing. Submitted the offer, completed the home inspection and appraisal. After that, he vanished from planet earth. Buyer agent could not track him down. Nor title company, lender or anyone. Buyer agent was furious about his buyer’s behavior. He drove down to his address on the EMD check. But the home was is past address, not the current address.
Fast forward settlement date arrived and the buyer was held in default.