1,052,056
Yes interestingly, it was not my client but the seller of property that my buyer was purchasing--this seller was also the designated broker of his company. His wife was also an agent, but a relatively new agent who was from Central America and spoke extremely broken English. The property was owned by both as community property so she could sign off, but it took extra time and was tough with her emotional state on top of the language barrier, plus her newness in the business. My heart went out to her, and we pitched in and helped her as much as we possibly could-- and one of their senior agents was able to quickly take on the duties of the DB.
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Ryan Huggins - Thousan...
Thousand Oaks, CA
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Anna "Banana" Kruchten
Phoenix, AZ
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
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Candice A. Donofrio
Fort Mohave, AZ
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Allie Angeloni
Oro Valley, AZ
91,335
Oooh, good question. I guess it would stop the transaction until it was ascertained who now would own the property.
I recently listed a rental for a client who co-owned the property with her ex-husband. She was planning on leaving the country soon for 6 months, possibly during the time the house was listed with me. In past years, other agents had taken the listing, requiring only the client alone to sign the listing documents. I insisted that the ex, who lives out of state, sign the docs too--in case anything should happent to the client while she was traveling. I always check to see who really owns a property I list, and how they own it (joint tenancy, etc.)
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Allie Angeloni
Oro Valley, AZ
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Lynnea Miller
Bend, OR
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Theo Shaw
Evanston, IL
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Roy Kelley
Gaithersburg, MD
2,390,010
Lynnea Miller I am closing on a property next week that we made an offer on a year ago. I represent the Buyer. The Seller died and had no will. It's taken this long, almost a year to the day to get this one settled.
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Lynnea Miller
Bend, OR
5,229,243
3 times, Lynnea!
The first two times, the delay was 1 and 3 months but, both went through.
The third time was fairly recent and the attorney was amazing - she knew the client was dying and worked with the state to have the ownership transferred to the client's only child and we actually Closed ON TIME! I understand that's quite rare though.
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Anthony Acosta - ALLAT...
Atlanta, GA
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
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Allie Angeloni
Oro Valley, AZ
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Lynnea Miller
Bend, OR
1,543,225
We had two sisters fake one of their deaths (car accident was the story) to get out of an escrow. They and their agent were sued for fraud.
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Thomas J. Nelson, REAL...
La Jolla, CA
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
4,571,581
Thankfully, no at least not yet. I imagine what transpires next would depend on the details of the individual transaction.
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
6,392,889
We have had several clients die during, but not due to, projects that we were working on.
The success of the project generally depended on how well they had prepared their successors.
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Bob Crane
Stevens Point, WI
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Debe Maxwell, CRS
Charlotte, NC
544,014
I have not had someone pass away during escrow. However, I have done many probate situations that have taken 3 months to twelve months to resolve. Lesson: If you care about your heirs, go to an estate planning attorney and get your will and real estate ownership in order.
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
5,215,488
Yes, and with blood sucking people arguing over their rights! It was a mess. Luckily, I had patient buyers willing to wait it out!
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Doug Dawes
Topsfield, MA
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Lyn Sims
Schaumburg, IL
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
2,684,009
Not yet.
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Debe Maxwell, CRS
Charlotte, NC
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Lynnea Miller
Bend, OR
2,182,502
Thank goodness NO
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
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Roy Kelley
Gaithersburg, MD
1,844,171
Yes & everything was put off around 10 days. Then the buyer wanted to know 'where' she died so as not to mess up the vibrations in the house.
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Bob "RealMan" Timm
Minot, ND
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
5,104,806
Thankfully, not. But I had one die in an automobile accident 5 days after we listed... I sold the house for his widow.
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
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Bob "RealMan" Timm
Minot, ND
1,712,676
I haven't had that happen.
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
2,435,649
I have not had a client die during escrow, but I would have assumed there would definitely have been an impact. It is interesting to read some of the comments here that indicated closings still happened on time. Wow!
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
353,865
Even if I thought I knew that answer, I'd call CAR and talk to an attorney about what the next step would be.
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
2,061,046
I've had plenty of issues with transactions (we're not an escrow state)... but I've never had a client die between contract and closing.
(Oh, crap... I shouldn't have said that out loud, should I?)
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
5,772,575
Nope!
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
5,048,708
No it's not happened, thankfully
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
1,525,616
I have not, thank goodness.
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
3,988,007
I have not had a client die. I have had a couple of clients that I was afraid they would die and had to go to the hospital to do the closings.
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
290,969
We/I have not been in this particular situation, though it might depend if you are referring to the Buyer or the Seller. I'm thinking the transaction would end, if it were the Buyer, while the Seller's Estate would continue on with the sale Lynnea Miller - I will read replies below, and you must share your two different scenarios!
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Doug Dawes
Topsfield, MA
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Debe Maxwell, CRS
Charlotte, NC
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Lynnea Miller
Bend, OR
5,583,278
no, I actually have never had that happen in 39 years.....
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Doug Dawes
Topsfield, MA
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Nina Hollander, Broker
Charlotte, NC
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Lynnea Miller
Bend, OR
2,220,323
Yes I have, did not affect the transaction, the son was the designated representative and we closed on time.
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Lynnea Miller
Bend, OR
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Anthony Acosta - ALLAT...
Atlanta, GA
1,196,588
Lynnea Miller \
I can't say that I ever have had that experience and I hope I never do
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Bob "RealMan" Timm
Minot, ND
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Lynnea Miller
Bend, OR
4,319,419
Lynnea Miller - Not happened to me - yet.
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
3,986,258
I have not but the deal would go on as the estate is still responsible. For buyers that may not be so unless the estate has the cash to purchase
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Lynnea Miller
Bend, OR
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Doug Dawes
Topsfield, MA
7,834,961
1,076,531
I have, and it put an end to the transaction.
It happened early in my career, and taught me to never, ever, assume a client is being flaky.
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Lynnea Miller
Bend, OR
5,868,372
In all my years, luckily have not had a client die between contract and closing, thankfully!
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Lynnea Miller
Bend, OR
4,882,343
I have not; however, I assume it could be a sticky situation.
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Lynnea Miller
Bend, OR
1,725,896
Yes, and it is still in probate 6 months later. Due to close this week though!
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Lynnea Miller
Bend, OR
785,106
1,035,056
No, but the buyer's father died during the transaction. It was a foreclosure with a smaller bank that turned out to be very patient. They waited and we closed.
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Lynnea Miller
Bend, OR
4,434,127
1,502,848
I've had a buyer back out at the last second because family deaths in the old country, but thankfully never a client die. I'm pretty sure that would kill an escrow (no pun intended) if it were the buyer. As a seller, it might still work but also may turn into a probate.
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Lynnea Miller
Bend, OR
3,587,835
I have not Lynnea but almost. What they did is do a beneficiary deed and if the person passed before closing the home was owned by the other party. Just sold two like that lately - both had beneficiary deeds.
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Lynnea Miller
Bend, OR
4,935,551
3,344,906
No. Most of my clients have already made their transition by the time I list their home.
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Lynnea Miller
Bend, OR
2,178,433
1,239,801
I wish the listing agent would drop dead. Only motivation was double ended on 95% listings over 4 figure transactions. Most of us wanted to have nothing to do with him.
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Lynnea Miller
Bend, OR
3,071,489
4,800,082
I've had this happen. It was the seller and the closing was delayed for months for probate.
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Lynnea Miller
Bend, OR
1,466,207
Lynnea Miller Yes I have. The property of deed per her will to eight adult children heirs. The main issue was getting these people who lived all over the U.S. to sign the paperwork. All was successful except for one heir who was homeless. I found him through a church in another State and the property successfully closed.
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Lynnea Miller
Bend, OR
3,416,038
Yes, she was selling her home and buying a new one. Of course she was let out of the purchase, with the sale the buyer still wanted, the heirs still wanted to sell and the buyer even offered them time, but some heirs were down right nasty
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Lynnea Miller
Bend, OR