One of my inspectors recently noted that the siding was within 6 inches of the ground but accidentally did not get on the summary page. The buyer decided after the closing that they didn’t want the house for that reason. The buyer contacted Nick about the 90 day buy back and was very demanding and whinny about everything. Nick bent over backwards every time she came in with a new demand he accommodated her. By the end she was a lot easier to work with but when she realized she not going to get a big wad of cash to do with as she pleased she decided to keep her house.
Thanks! We went all out for your client.
Good post, Mathew. It lets members know what goes on behind the scenes and what effort is put out.
That part of the story needs additional narratives.
We offered her full price for her house in cash, and to help with her side of the closing costs, and to pay in full for the real estate agents’ commissions on both sides of the sale, and to reimburse her in full for the cost of the inspection, and to let her choose the closing date.
She decided she wanted to keep the house, and in the end, was very gracious.
Wish I had the same experience- “Buy Back” was a total disaster. My client of a $450K Home was never offered anything like that- 6% plus all title and common closing cost - approximately $27,000- lost my best referring agent because of it! Good luck if you can get a clean honest response from Nick when your back is against the wall. See my past thread response in history on this one. I can prove it also! System is a scam!
If a consumer has an agent who wants to handle the consumer’s side of the transaction for free… great. We can’t “offer” that because the real estate agent’s time isn’t something we own. We can’t offer what isn’t ours. And we also don’t want to be the one to ask a real estate agent to work for free. And we also don’t want to advise a seller to do a real estate transaction without help, for liability reasons.
As for the title work costs, InterNACHI pays for 100% of that and purchases its own title insurance. The consumer again doesn’t pay a penny.
As for “common closing costs,” I am not familiar with that term. Closing costs are either buyer’s or the seller’s and InterNACHI always pays all of its closing costs. Yes, there are costs to selling a home but we have no control over that, other than to pay ours in full and we always do.
If memory serves, your client wanted InterNACHI to pay all of our closing costs (which we always do) and then pay all of her closing costs and then on top of that pay her REALTOR to help her sell. We don’t pay for other people’s costs or for moving costs or pizza or anything like that, obviously. We’re just another homebuyer like any other, only we offer full price and allow the seller to pick the closing date.
We once had a consumer demand that we reimburse her for packing her dishes to move to her new home. LOL.
Thats Good to know
Yeah, it’s not the “We’lll Buy Your Home Back, pay all of your closing costs, pay all of your legal costs, pay to move you and buy you pizza because your dishes are packed up” Guarantee.
No homebuyer does that for a seller and this program works just as if we are any other homebuyer in America… and we are.
This isn’t an insurance product that makes your client whole. It’s just an additional full-price offer to buy the home. If that’s not what you want, don’t participate as it only causes us headaches.