Experience reduces mistakes. It does not eliminate them.
Yesterday I mentioned that even with experience, situations still show up that I have not seen in exactly that form before.
You cannot coast.
You cannot assume.
You stay alert.
This one worked out fine. Still, it bothered me.
I am helping a client purchase property near the new Bois d’Arc Lake. We negotiated the deal, worked through issues, and negotiated a price reduction that required additional earnest money.
Everything looked clean. Ready to go. I might have even started breaking my rule about assuming a closing, just a little.
Then the closing statement came in.
The property taxes were materially higher than expected.
The understanding was that the property was under agricultural exemption. But according to the county, only part of it was.
The property is in two separate tax accounts. A couple of years ago, the county had taken the ag exemption off one of the tracts.
I had checked the ag status.
What I failed to do was check both accounts.
One showed ag.
The other did not.
It made no logical sense that one tract would qualify and the other would not, especially since the same farmer was working both. But logic and county records do not always move together.
When I saw it, I felt it.
I take pride in being thorough. And while I did verify the exemption, I did not verify it completely.
That difference represented roughly a $10,000 per year swing in carrying cost.
That changes value.
That changes what a buyer can reasonably pay.
That matters.
I addressed it directly. No hiding it. No hoping it would slide through.
Turned out it was a mistake on the county’s end. They reinstated the ag exemption, and we should be good to go. Assuming nothing else happens.
From now on, every account gets checked. Every line item gets confirmed. Even when it “should” match.
That is how you get better.
And that is also why you use a professional.
Not because professionals never miss anything.
But because when something surfaces, it gets caught, addressed, and handled before it becomes permanent.
Until a deal is closed and funded, it is still alive. And live deals require attention.
Experience is not about perfection.
It is about knowing where problems hide, and being willing to own them when they show up.
PS – If you own land or acreage and want a clear, no-obligation opinion of value, I offer a free analysis based on real comps, tax data, utility access, and actual market experience.
Land is different from residential. The details matter.
You will know where you stand today and what realistic options actually look like.
PPS – If this gave you a better sense of how deals really work behind the scenes, feel free to forward it to someone who might benefit from it.