1. What should a buyer be most focused on immediately after getting a property under contract?
Once an offer is accepted and contracts are signed, the buyer’s immediate focus should be on wiring the **earnest money deposit (EMD)**, usually within 24–48 hours. Simultaneously, they should be working with their lender to formally apply for the mortgage. This is also the time to begin coordinating with their real estate attorney and any other professionals involved—like a home inspector or managing agent if it’s a co-op or condo. It’s important that buyers stay responsive and organized. Even though the contract is signed, there are still time-sensitive steps ahead that can affect the transaction timeline and financing approval.
2. Have any of your clients ever second-guessed their decision or gotten “cold feet” before sending the EMD?
Yes—especially first-time buyers. The moment they’re asked to wire a substantial amount of money, the reality of the purchase sets in. I once had a buyer who had been confident throughout negotiations, but paused right before sending the EMD, overwhelmed by the idea of committing to a 30-year mortgage. We talked through her concerns—revisiting her financial goals, long-term plans, and how this property fit into that. It’s normal to feel nervous, but I remind clients that this isn’t just a transaction—it’s a big life step. Pausing is okay, but paralysis can risk losing the home altogether.
3. Who finds the home inspector, and what can come up during an inspection?
It depends—some clients already know someone they trust, but more often I recommend a few reliable inspectors I’ve worked with. In one case, during a townhouse inspection, the inspector discovered evidence of past water damage that had been concealed with fresh paint. We brought in a specialist who confirmed a recurring leak from the roof, which hadn't been disclosed. My buyer used this as leverage to renegotiate the price. While the seller initially resisted, we were able to reduce the purchase price enough to cover the cost of repairs. A good inspection can absolutely shift the terms of a deal.
4. What happens when the appraisal comes in low?
This happened recently on a co-op listed at \$1.25M that appraised at \$1.18M. The buyer didn’t have the liquidity to cover the \$70,000 shortfall, and the seller wasn’t initially willing to reduce the price. We negotiated a middle ground: the seller dropped the price to \$1.22M, and the buyer agreed to pay the \$40K gap out of pocket. It was a stressful 72 hours, but we made it work. The key was acting quickly and managing both parties’ expectations.
5. Any stories about navigating tight contingency deadlines?
Absolutely. I had a buyer who received a financing contingency extension from the seller, but the lender was still waiting on tax documents from the buyer’s accountant. We were one day from the contingency deadline with no final commitment. I worked closely with the lender and CPA to push it over the finish line. In the end, we got the commitment letter just a few hours before the deadline. It taught my client that even with professionals involved, they had to stay proactive—the smallest paperwork delay could put a whole deal at risk.
6. How do you keep buyers engaged beyond the offer?
I always tell clients: the offer is just the start. I once worked with a buyer who disengaged after the contract was signed, assuming their lender would “take care of everything.” Weeks later, I learned the bank never received updated income verification—and we almost missed the loan commitment deadline. Since then, I set regular check-ins with clients and their lenders to ensure no detail is overlooked. Keeping buyers engaged is what prevents costly delays.
7. Have you ever had a buyer face a personal crisis mid-deal?
Yes—one client received a sudden job offer in another state just days after signing contracts. It was a dream job, but it meant reconsidering the purchase. We explored all options, including assigning the contract or forfeiting the deposit. In the end, she negotiated a delayed start date at the new job and closed on the property. She ended up renting it out until she returned. It was a lesson in balancing emotional decisions with the reality of signed obligations—and I helped her understand both legal and personal implications before making a move.
8. Any walkthrough surprises right before closing?
Unfortunately, yes. During a final walkthrough, we discovered that the seller had replaced the Viking refrigerator with a cheaper model, despite it being specifically listed in the contract. I immediately contacted the seller’s attorney and we delayed the closing by 24 hours. The seller ultimately offered a cash credit at closing to cover the cost of the swap, which the buyer accepted. It was a reminder that walkthroughs are not a formality—they’re essential to protect what’s been agreed to.
9. How do you balance excitement with realism when deals can fall apart?
I always celebrate when a client gets a deal accepted—but I also remind them: “It’s not done until you have keys in hand.” I help them stay focused and responsive throughout, while being emotionally prepared if an issue arises. The most common reason I see deals fall through post-contract is financing—either due to unexpected debt-to-income issues or a low appraisal combined with a rigid seller. I emphasize resilience, and remind clients that delays or obstacles don’t mean failure—it just means we may need to pivot.
