I want to share a story about a family I recently assisted in selling their home. It was a young family and they had small children and were nervous about moving to another state while having a vacant house here. If you have every called your insurance company and let them know you'd moved and gotten "that" rate hike you know it is a big one. So there were paying a mortgage here, rent there, high insurance here, renters insurance there and really considered a terrible offer, but thankfully asked for my advise before taking it.
I had sold a house this past November in their neighborhood and I really knew their house was worth more than that offer. It didn't jump off the shelf like the one that sold in 10 days in November, but within 60 days we had an offer that we felt we could work with. And even with the commission being paid the offer on the house after negotiations netted the family an additional $10,000 to put towards their new house in their new state.
And everyone in my story is happy... well expect the low ball offer person who "won't buy a listed house" I suppose because they don't want to buy a house unless they can get it for below market value. But the sellers are happy, the new buyer is happy and today I called to remind that seller to remember to call and cancel her insurance policy now that her mortgage has been paid off and she no longer owns the house in Georgia.
If you have a house to sell, on or off water, we work hard to help you take all the right steps to get the most for your house too. Just give us a call and we'll get it on the market and help you negotiate to get the maximum price for your house.
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Tammy Lankford, Broker/Owner
Broker License # 169695 Lane Realty License # H-11420
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Hi Tammy Lankford, congratulations on the sale, wishing you many more to come. That buyer who is waiting for the deal of the century will be waiting a long time. I don't understand why some think they can get a well-priced home under market value.
I love a good story with a happy ending that really HAPPENED! Good for all of you for being wise. And an extra $10K is nothing to sneeze at!
Nice job, Tammy. I hate to see sellers jump at an offer when it's not in their best interest. We get a lot of letters here, "we'll buy your house, all cash, closing in 10 days." It tempts unwary sellers who have no idea of what their property is actually worth.
Tammy, yes I love Happy Ending stories and I also laugh at those fifty cents on the dollar buyers... I keep telling them do not waste the paper it is written on and find some one else to write it up because I will not, Endre
Not heard the "not buying a listed house" policy before...Yicks !
Good morning Tammy. What a great story! You did a real serviceand a great job too.
Hi Tammy:
Good thing your clients listened to you! And that's such an important point about insurance and a vacant home. I suspect many sellers who move out while the home is listed do not think about this issue, and if someting happens you could be in for a big surprise. I heard a story about a vacant home (for several months) that was damaged and the insurance company would not cover it since it had been vacant for some time and the owner never let the insurance company know.
Jeff
Beth Atalay the "spring" market has really taken off and we are super busy. I have 7 pendings at the moment and while I feel a little like I need a nap I'm also listing two more today. We have a pretty "seasonal" market in my area so from spring to fall we work hard in winter we vacation in warmer destinations.
Gayle Rich-Boxman Fishhawk Lake Real Estate not the kind of money I'd want to miss out on for sure. And I will be writing a second post about remembering to cancel your insurance policy after you sell. That was another $3200 they got back.
Lottie Kendall they were very surprised at the gain in just the short time they had owned the house. Thankfully it was long enough they aren't paying any taxes on said gain.
Endre Barath, Jr. yes sometimes I've said "I'm not even writing that offer up" to people. It truly is a waste of paper and time.
Sally K. & David L. Hanson it was a new one for me too. Guess they don't like agents much. Oh well... good luck is what I say.
Sheila Anderson sweetest family too. She has a baby just a few weeks younger than Cooper and I just adore all of her kids. Glad I became FB friends with her and will be able to watch her kids growing up now that she is 5 states away.
That is a great story with a happy ending, I wish everyone would consult with a trustworthy agent before getting scammed by one of these companies that is looking to make money off of them and will sweet talk them into thinking it is a great deal for them.
Jeff Dowler, CRS yup, that insurance issue is something post worthy, maybe I'll write that today.
Brian England you know the same goes for buyers thinking they are getting a "deal" because it's a FSBO and they aren't "paying commission", I had a buyer WAY overpay for a house because she didn't consult an agent when purchasing and found out how much she over paid when she want to sell a few years later. She took a terrible loss that was SO avoidable. It wasn't a time of market decline, it was simply not knowing value and no loan, so no appraisal either.
Hi Tammy and I too love a story with a happy ending. Your sellers picked the right agent to help them too! It's hard to imagine that someone would not buy a home that was listed. It takes all kinds.
Kathy Streib I thought it was a very odd thing for someone to set as a requirement as well. I mean in the past 12 years I have helped people get some amazing deals that were borderline stealing the property. Just a couple of months ago an out of area agent listed a home in my market WAY under value and I had a buyer pay list price with an offer about 20 minutes after it hit the MLS after a facetime viewing. He's thrilled with his $60,000 instant equity.
Tammy Lankford, I like how you think and the advice you give to your clients and other Agents too! You may recall it was about a year ago that I was with my client in Georgia, asking you questions about contracts for your state. Well, my people did buy a home in GA and they are very happy. But their home listed around that time and the cost of owning two homes, paying for insurance, property taxes, and unexpected home maintenance was hard. Plus, they took out an Umbrella Policy because they had a pool. Their home did sell here, but it took longer to sell than expected. There is a lot to consider when selling and transitioning into a new place/location.
Patricia Feager, MBA, CRS, GRI,MRP yes I do remember. These folks actually moved to Texas.
Tammy Lankford, - What a coincidence!!! I hope they are both happily adjusting to their new homes and locations. Although it would have been a long-shot, it's too bad they couldn't do a house swap and we represented both parties. Wouldn't that have been something worth talking about for years to come!
Fingers crossed that you and I will cross paths again.
Tammy,
Know you know your clients and certainly the Lake Sinclair market!
It's a lot of hard work, but referral business is great, as with all you have going on, they know you are the person to help!
All the best, Michelle
Well done, my dear. That's the way you do it. Congratuations to all, well except for the buyers who lost out. Let's hope they learn a lesson - eventually.