It's Not A Closing, It's A Consummation...

I can't tell you the amount of fun that I am having educating clients on the new consummation rules.  That's right, we are no longer closing a sale - it is a consummation.  When I tell clients this they laugh and thing I am making a joke, but no...the government strikes again and in their infinite wisdom(?) a sale is now a consummation.

I just can't say this with a straight face....

www.LisaSellsTexas.com

 

Lisa Von Domek

 

Lisa Von Domek
BROKER/ASSOCIATE/REALTOR, 
ABR, AHWD, ALHS, ASP, BPOR, CAPS, CDPE, CGP,
CLHMS, CMS, CRS, CSP, e-PRO, GREEN, GRI, MRP, PS, QSC, SFR, SRES, TAHS, TRC
Lisa Von Domek & Associates, LLC / Real Living Real Estate Group 
Phone:      972-849-1300 
Email:        Lisa@LisaVon.com      
Website:   www.LisaVon.com

Multi-Million Dollar Consultant

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Lisa

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Comment balloon 28 commentsLisa Von Domek • August 14 2015 07:34PM

Comments

when it comes to our gov't and their rules and behavior and rules... you couldnt make this stuff up!!

Posted by Mike Rock, Granite Bay Luxury New Construction...For Less (Complete Design) almost 4 years ago

Making life more complicated for professionals one new "improvement" at a time.

Posted by Stefan Winter, Owner - Winter Group & Real Estate Web Tech (Real Estate in IL & NV | Owner of Real Estate Web Tech | Daily Vlogger) almost 4 years ago

Hello MIKE ROCK 

They just keep "fixing" things...heaven help us all!

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) almost 4 years ago

Hello Stefan Winter 

It's easy to see that no one writing these rules in Washington has actually ever worked in the industry!

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) almost 4 years ago

for sure... like my 14 yo son wants to fix the car... please dont!!!

Posted by Mike Rock, Granite Bay Luxury New Construction...For Less (Complete Design) almost 4 years ago

I told a clirmt this last week and they asked if I was providing protetion!

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) almost 4 years ago

Mike, I'd trust your 14-year old to fix anything before I'd trust a politician 

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) almost 4 years ago

Hello William Feela 

Oh, too funny - now that was a witty come back!

Posted by Lisa Von Domek, ....Experience Isn't Expensive.... It's Priceless! (Lisa Von Domek Team) almost 4 years ago

Oh and think of all the fun we're going to have when someone screws up and that nasty mandatory 3 day wait period kicks in.  So.much.fun!

Posted by Bob Haywood, BobHaywood.com (McGraw Realtors) almost 4 years ago

Lisa Von Domek 

I keep looking for the punch line. Clowns rule the culture in the US currently it is very frustrating. I told my kids that government is like an overgrown HOA. 

Posted by Alan Kirkpatrick, Alan in Austin (Austin Texas Homes) almost 4 years ago

The on going comedy Lisa Von Domek when government climbs on the hay wagon!  Alan Kirkpatrick you sound like you're talking dirty with "HOA".  Guess govt will have to change that name too!  Consummation - bless you my child!

 

Posted by Bruce Hicks, Your Lifetime Friend/Helper! (Best Homes Hawaii) almost 4 years ago

Lisa I wrote about this definition a few weeks ago and we are still laughing about it:) in rude and crude ways we are wondering if this was an inside joke by the politicians... we are also wondering who is the giver and who is the receiver?:))Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) almost 4 years ago

 Good Saturday morning Lisa. I've heard that word before in RE contracts and it does not have the meaning that it once did.

Posted by TeamCHI - Complete Home Inspections, Inc., Home Inspectons - Nashville, TN area - 615.661.029 (Complete Home Inspections, Inc.) almost 4 years ago

Good morning Lisa. It sounds like we all agree that the more the Government gets involved with the real estate and mortgage business, the better it is for the consumer.

Make it a great weekend!

Posted by Joe Petrowsky, Your Mortgage Consultant for Life (Mortgage Consultant, Right Trac Financial Group, Inc. NMLS # 2709) almost 4 years ago

Hi Lisa.  Is this biblical?  I thought we were keeping religion out of the government

Posted by Conrad Allen, Webster, Ma, Realtor (Re/Max Professional Associates) almost 4 years ago

Hi Lisa.  I thought of a number of comments, but I don't think any are appropriate.   

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) almost 4 years ago

Good morning Lisa. I couldn't keep a straight facee either. Oh well.......

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) almost 4 years ago

Lisa, government and common sense are never in the same sentence. Enjoy your day! 

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) almost 4 years ago

I thought consummation meant someone was getting screwed. Oh that's right the government is involved, my bad.

Posted by Rob D. Shepherd, Principal Broker GRI, SRES (Windermere/lane county) almost 4 years ago

Good morning Lisa Von Domek ,

We have been chuckling about this since last fall when we first heard the changes in our terminology changes our illustrious government officials came up with. They felt a "closing" wasn't understood easily by the consumer??? What..who doesn't understand what a closing is? Really makes it clear to change the terminology to a "Consummation!" Can you hear it now "Hi Title Co. I'd like to schedule a "consummation for my sellers and I...do you have a 10 am open?"

Posted by Dorie Dillard CRS GRI ABR, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.750.6899) almost 4 years ago

We are laughing about this too. The title companies are playing along and say they will not be working the night shift.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Platinum Properties) almost 4 years ago

Lisa,

 

So when people ask what we do for a living we now have to say we are in the consummation business? Oh boy, this is going to get interesting. Will this increase the number of people who want to be in the consummation business?

Posted by David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation, Relocation, Luxury & Lifestyle residential (Colorado Real Estate Advisers LLC ) almost 4 years ago

Lisa thanks for sharing the humor however I don't think we will be laughing when this rule kicks in. 

Posted by Joe Jackson, Clintonville and Central Ohio Real Estate Expert (Keller Williams Capital Partners Realty) almost 4 years ago

Lisa, yes, it is a consummation alright. Yet another way the government is sticking it to the public. 

Posted by Kathleen Daniels, San Jose Homes for Sale-Probate & Trust Specialist (KD Realty - 408.972.1822) almost 4 years ago

Lisa Oh La La a consummation, that does sound a little frisky ...... LOL

But Kathleen Daniels has a better description of what we have to look forward to from Washington :) :) :)

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) almost 4 years ago

Lisa

Alan Kirkpatrick comment is right on point . . . . Clueless in Washington . . . . Just one more needless clown reg.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 4 years ago

Lisa

Will cigarettes be available at the consummation?

Just saying . . . .

Good luck and success.

Lou Ludwig 

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) almost 4 years ago

Hi Lisa...

What was so wrong with "Closing a Sale" it's simple and to the point. 

Posted by Linda D. Pufford, ASPM, Marin/Sonoma Home Stager (Stage with Divine Style - Home Staging) almost 4 years ago

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