This is by no means an official real estate term. But for me, a 3-Pronged Fork is the way I explain a real estate transaction that includes the sale/purchase of multiple properties which encompass three separate clients, or in my most recent case, a total of 10 individuals, AND 16+ animals! Here is how it looks:
- Prong 1 is the seller of the initial property: 1 client and 6 animals
- Prong 2 is the buyer of that initial property: Family of 5 plus 6 animals not including chickens & chicks
- Prong 3 is the buyer of Prong 2’s property: Two families plus 5 dogs
Yes, it can be confusing. And yes, if something goes wrong in the midst of the over-all transaction it can cause a domino effect that no agent, buyer or seller wants. So, the key is to do everything humanly possible to ensure that the 3-prongs stay firmly attached to its handle.
For the Realtor®, me, this means that I attend the general inspections to be sure I understand any issues that may be discovered, and can assist in navigating through the process of any repairs and/or replacements necessary. I also meet with the appraisers, providing my print-outs of Sold properties I feel support the transaction purchase price, and also answer any questions the appraiser may have. After all, I should know, and do know, each property like the back of my hand! I also stay in touch with the lenders to be sure requested and required documents are provided and we stay on our Timelines. And, I keep in regular contact with each client I am responsible for, and the agent representing the other side of the transaction if it isn’t Dual Agency.
Lots of balls in the air. Lots of moving parts. Lots of pieces to the puzzle. But, when each property closes, the families make their move, and the animals are settled in, I can finally relax and know that I did everything in my power to help all these dreams come to fruition. Whew…what a meal!