Concurrent Client Case Study
Property: Thorn Blade Drive
WHAT MY CLIENTS NEEDED:
I assisted my clients in purchasing a larger home for their family prior to selling their existing home. My clients desired to sell their existing home for the highest price possible in the quickest amount of time so they would not be paying two mortgages.
CHALLENGES:
- Sell home for highest price in shortest amount of time on market.
- Wire Fraud with Buyer's Closing Attorney
SOLUTION:
- We successfully had the home under contract in two days for full list price due to coming soon marketing along with other strategic marketing strategies.
- The FBI was brought in. Lender was made aware of the situation and allowed Buyer's parents to gift the Buyer's the down payment funds to make the closing whole.
RESULTS:
After a several day delay, the home was officially funded and closed prior to my clients having to make a double mortgage payment.
CASE SUMMARY:
What seemed to be a straightforward sale ended up being delayed due to a growing challenge in the marketplace. Unfortunately, the Buyer's closing attorney email had been hacked which resulted in the Buyer's wiring over $50,000 to the hacker's bank account. The closing attorney was aware of a prior breach of his account and had not taken appropriate measures. The closing attorney also recorded and released the keys to the Buyer's prior to verifying funds received. Upon learning of the of the wire fraud the attorney tried to convince my clients to sign a promissory allowing the Buyer's to pay them back directly for the lost funds with out informing the lender – which is loan fraud.
LESSON:
Although Sellers cannot tell buyers whom to use as a closing attorney, we highly suggest using an attorney with a secure portal who takes security seriously.
IN MY CLIENTS WORDS:
"Geena is a wonderful agent to work with! She makes every effort to be available when you need her and is extremely knowledgeable about the Charlotte Real Estate Market. I definitely would recommend her to anyone! – D. Roof.
