This Real Estate Deal Went Wild! | Closing With Cassi - The Titanium Vault hosted by RJ Bates III

Episode Transcript
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Speaker 1 (00:07):
Welcome to today's Closings with Cassie.
You know, in real estate welike to say that no two closings
, no two properties are the same.
Let me tell you about one thatreally put that to the test.
On paper it was supposed to bea clean, straightforward deal.
Title was ready, cash buyer waslined up.
Everyone was expecting a normalclose that week.

(00:28):
But what actually happened?
Once we got the title commitmentback, everything turned
topsy-turvy.
See, the seller had bought theproperty and they closed outside
of a title company.
The person that sold it to herhad also signed a deed with her
ex-husband.
We thought ex-husband becauseit said they weren't married.

(00:52):
It said they were married Veryconfusing the very same day that
she sold it to our seller.
So if you've ever worked withtitle attorneys, you're going to
know what happened next.
The attorney immediatelythought something is not right
here.
Something seems super shady.
To be honest, that's a fairconcern.
Fraud happens in this industryall of the time.

(01:13):
Title companies have to becautious and we want them to be.
But I always like to look at itlike well, let's find out.
On top of that, when we got thetitle commitment back, we sent
an email to the title asking forthe details because they
weren't really all on the titlecommitment they usually aren't
and tell them just a little bitabout the seller's story.

(01:37):
So the seller had a bigmotivation.
Seller had a story and I reallywanted to be able to dig into
those details that we didn'thave on the title commitment so
that we could try to put all thepieces together.
And after all, this is the partthat I like and I'm really good
at when it comes to titles.
So this seller is a mother whosedaughter has a brain condition

(02:00):
that causes her to have a lot ofseizures very frequently.
Their family was running out ofoptions to treat their daughter
.
They found an innovativetreatment that was out of the
country, I believe, somewhere inEurope, something that could
possibly change this family'slife, change this daughter's

(02:24):
condition, possibly cure her.
But they had to move out of thecountry in order to do that.
This wasn't local here in theStates.
This is a deal in Texas.
So they needed to sell thishouse and there was a timeline,
I believe.
She was accepted into thistreatment program and they had
to get her started by just aweek after we had this set to

(02:46):
close.
So that's what closing wasreally about for us from the
beginning.
It wasn't about the contracts,it wasn't about the money.
It was about giving this familyhope in many ways for us.
Now I understand the titleattorney was skeptical because
in their defense there isusually some big story that's
attached to the ones that aretrying to fly something under

(03:09):
the radar or are trying to dosomething sketchy, and again
that's attached to the ones thatare trying to fly something
under the radar or are trying todo something sketchy, and again
that's the title company's joband they're gonna have to ensure
this.
Likely, in their experience,it's more often than not the
case with these big stories thatthere turns out to be something
sketchy involved and people whoare trying to rush to close and

(03:29):
try to fly something under theradar, they're usually finding
something that's going to makeit not closable.
So they were nervous aboutmoving forward.
This is where I told theattorney look, I'm not here to
question the seller's story orask about their daughter's
condition, if it's real or not,the seller or the person that

(03:52):
sold it to her.
They're not going to be able toscam us.
They're not going to be able toclear title or get title
insurance or get thesecorrections or deeds.
So let's just walk down thepath and see, you know what it's
all about.
So we talked to the sellerimmediately and we tell her and
she understands and we get it.

(04:12):
We need her to put us incontact with the people that
sold it to her.
So we get her to call the womanthat sold it to her and she
says, um, we can get in contactthe next morning.
So this is where we find outthat the woman that sold it to
her and her ex-husband orcurrent husband we still aren't

(04:33):
sure yet they live in Mexico.
And then we discover they livein different parts of Mexico.
They are divorced, right, sothey're willing to figure out
whatever they have to do, andthat's the good news.
So to me, this is the perfectopportunity to tell them great,

(04:56):
they can go, they can sign anycorrection deeds that need to be
signed and filed.
They can do this at the embassyif necessary.
So that shouldn't be a problem.
We have had to do this beforeand this also served as a test
point.
So it would make title feelsecure, because if they weren't
willing to go sign something atthe embassy, or these people
weren't who they said they were,we would probably know, because
look who's going to go signfraudulent things at an embassy,

(05:20):
who's going to commit fraud atan embassy, right?
So everything looks good fromhere.
They said they're willing to dowhatever.
But it turns out the actualcouple the ex-sellers, let's
call them happen to havechildren that are still here in
the state, still here in thestate of Texas, local to the
property in the state, stillhere in the state of Texas,

(05:44):
local to the property.
And one of those childrenhappens to be a contact that
happens to work with a colleagueof ours in TC services, a long
time good colleague of ours,very well known.
We've known them for years.
We've done deals together.
Colleague of ours, very wellknown, we've known them for
years.
We've done deals together.
So talk about a small world,right.

(06:07):
So this ended up being a hugepuzzle piece to get this done
quickly and smoothly because shecould actually get the
signatures and the paperworkthat her parents needed to get,
get the corrections on deed, getthe corrections on title in
extremely swiftly so that thecurrent owner could actually
sell this in time.
Suddenly this went from beingpeople who were possibly in

(06:28):
collusion to doing sketchytransfers and sales of real
estate to they just self-filedsome deeds, not realizing the
way that it would look to clearthe chain of title in the future
.
So this wasn't a conventionalsolution.
It's not normal to find thesepuzzle pieces in that the

(06:49):
daughter worked in TC for one ofour colleagues.
She knew all about title stuff.
But in this business you have tothink outside of the box and
you just have to look to geteverybody to the finish line.
You don't panic, you don't makeassumptions that everybody's a
bad guy, you just follow thelead until you solve the mystery

(07:09):
.
These transactions.
Sometimes the clock is ticking,emotions are high, the deal is
at risk of collapsing and that'show it really feels for
everyone involved a lot of times.
But I didn't panic.
I know my network, I know theoptions, I know my experience
and I'm confident that if it canbe solved together we're going
to be able to solve it.

(07:30):
By the time most people wouldstill be running around
frantically or saying the dealis going to fall out.
We had it solved and we wereprepping for closing.
Deals get challenging.
Seller's unusual situation,motivation attorney suspicions
connecting with the past.
Seller's daughter it's a crazysituation with them being out of

(07:51):
the country too.
The deadline for this daughterto get her treatment was the
important thing At any point.
This could have completelyfallen apart and, honestly, a
lot of people probably wouldhave walked away when that title
commitment came back.
When everything feels chaotic,I try to stay calm.
I try to focus on being youknow the solution, trying to
find the solution, not feedinginto the panic, because when you

(08:13):
can hold it together,oftentimes you help everyone
else hold it together too andremain calm in these crazy
situations.
At the end of the day, weclosed the deal.
Everyone was fulfilled in theend.
I hope one day we actually getto hear about how this treatment
plan went for the daughterinvolved in this.
For me, this business is reallyabout that.

(08:35):
It's not just about numbers ona spreadsheet, properties
changing hands.
It's about people and it'sabout solving problems.
It's about creating hope wherespreadsheet properties changing
hands.
It's about people and it'sabout solving problems.
It's about creating hope wherethere wasn't hope before.
It's about doing good businesstogether.
So what's the lesson here?
It's that deals rarely goperfectly.
Everything doesn't go accordingto a perfect plan.
Closings have obstacles, but ifyou keep your cool and you lean

(08:59):
on your problem-solving skillsand if you focus on taking care
of the people first, then you'llalways find a way forward.
That's what I try to do everysingle day and in this case it
meant that a family got hopewhere there was not hope before.
The attorney got peace of mind,the buyers got a property,
everyone walked away feelingtaken care of and, honestly,
that's why I love this business,because when everyone sees

(09:21):
chaos, I see.

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This Real Estate Deal Went Wild! | Closing With Cassi

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