Most recently, our team of transaction coordinators at Transaction 911 ran across one of those tricky deals. In this transaction, the sellers refused to permit access to the property for inspections and appraisal until they had removed all of the personal property. This took about three weeks, which impacted the buyer’s time frame for inspections and due diligence. Then, to make matters more complicated, when the buyer reviewed the seller disclosures, the buyer learned of a county code violation because a structure had been erected without permits and sits too close to the property line.
To resolve conflict with buyers or sellers (or even other agents), there are many options available, but it can be overwhelming.
How to Resolve Conflict in Your Next Deal
The transaction coordinators saw that all parties are in a bit of turmoil. When there is a conflict, everyone passes the blame. The thing to do is to remember that you have a contract, and it is in writing. The contract specifies how to handle just about everything.
If you find yourself involved in a tough deal such as the one described above, you should always follow these five easy steps:
- Contact your Broker immediately. Your Broker is trained to assist with tough situations, and will contact legal counsel if necessary.
- Contact California Association of Realtors® legal hotline. The legal hotline is absolutely free to members of the California Association of Realtors®, so why not take advantage of this great resource.
- Contact Risk Management through your Errors & Omissions Insurance. Most Errors & Omissions Insurance providers offer limited risk management services for free. Look into how they can assist you with your problem.
- Contact your local association. All associations have processes and procedures for handling grievances and even teams of mediators and arbitrators to assist you.
- Don’t go crazy and write unfiltered emails or text messages. It’s so easy to type out an email and click send. But, keep in mind that email messages become part of a paper trail that can work for or against you. Most often, they will work against you. Pick up the telephone and contact the correct parties in order to resolve any issues that arise.
If you are in a transaction that is going south, the transaction coordinators at Transaction 911 can help. So, why not take advantage of the advice above, and contact us to help assist you with the paperwork on your next real estate transaction?