Elizabeth Weintraub Can Sell Even This Home in Sacramento
People have asked this Sacramento real estate agent why her clients are so ecstatic about her to write such fabulous and expressive reviews after escrow closes. They ask how do I generate such positive feedback when I’m so busy? I generally don’t get the usual type of reviews that just say I did a good job and the clients would recommend me, and then they could go about their normal business and forget my name. Clients instead tend to say that the Elizabeth Weintraub Team does the supernatural and performs impossible feats, and they would pretty much strew rose petals everywhere we walked if they could afford it. Why do they say these things when all we really do is close that sale for them? I bet some people think we bribe them, but my clients are not the kind of people to accept a bribe or we might have tried it.
Here is an example of a remarkable short sale that closed against all odds in Sacramento. I started to work on this in July of last year. The seller did not have a key and the home was tenant occupied. I prefer that tenants move out because some are uncooperative and, even if they initially appear cooperative, soon as they learn it’s a short sale, many stop answering the phone or the door. Even though it’s against the law, they often stop paying rent, stop letting buyers see the home and all-in-all become a general nuisance. The seller hoped for the best.
I was my charming self, though, because Elizabeth Weintraub can sell, and persuaded the tenant to let us show the home on Friday afternoons. We quickly went into contract with a cash buyer. This was a buyer with whom we had closed another short sale in Antelope. He was a real estate agent. We asked him to produce updated proof of funds because his proof of funds was dated several months ago. Banks want docs dated within 30 days. He couldn’t or wouldn’t do it. So, after issuing a Notice to Perform and he failed to perform, the seller canceled this particular buyer.
The tenants were getting a bit testy by this time, but they cooperated and we went into escrow with another buyer, short sale buyer #2. Finally, the credit union issued a verbal counter offer. These responses are rarely in writing. The credit union demanded a higher price. They dinged around with this short sale for so long that the prices had gone up. I proposed the higher price to the buyer, but the buyer balked and elected to cancel, which in my book was a pretty stupid move because what kind of home would that buyer be able to purchase now? In a seller’s market when almost every property has a handful of offers? Not for me to worry about. Thank goodness I was not his agent.
We sold the home again to a new buyer in December: buyer #3 for this short sale. After battling the credit union for months, we secured short sale approval rather quickly this time. The buyer completed the home inspection and was getting ready to close escrow. The seller gave notice to the tenants and one of them moved out. The other tenant at the 11th hour refused. He told the seller that he wasn’t moving until the sheriff threw him out. The buyer’s agent called me to say the buyer was canceling because the buyer could not move into the home.
The purchase contract stated the seller would deliver the property without a tenant in it at closing. The seller could not deliver on the promise because one of the tenants refused to vacate.
My idea was to pay the tenant to move. That’s what he was angling for, cash for keys. It was cheaper than evicting him, and much safer than dragging him out in the back alley and whomping the living daylights out of him, which is what I suspect crossed some people’s minds at that point. But the buyer instead asked to cancel the escrow.
When it rains on your parade, you parade in the rain. I’ve learned that lesson in life. We put the home back on the market, pending rescission. In the confidential agent remarks, we wrote that:
- Potential buyers could not view the home
- Potential buyers could not view the home ever
- Potential buyers must purchase the home without ever seeing the inside of the home
- Potential buyers must purchase the home with a hostile tenant living inside.
- Potential buyers must pay about $25,000 more than our original list price
- The potential buyer’s agent would receive a severely discounted commission, an amount so low that most agents would refuse to even write an offer.
We received about a half-dozen full-price offers at those terms and conditions. Believe it. Because it happened. Because the real estate market in Sacramento is so insane and wild that a buyer would purchase a home they could not see with a tenant who would not move at the top of market value. Did I mention it needed to be all cash?
The existing buyer changed his mind about canceling and closed escrow last week.
Moreover, when a buyer’s agent told me last week that his buyer, who was purchasing a stripped out and vandalized home I had listed in north Sacramento, decided to try to renegotiate the agreed-upon sales price, the answer was no, followed by hell no.
If you’ve got a home to sell in Sacramento, call Elizabeth Weintraub at 916.233.6759. I’m more than happy to do it, and I guarantee you’ll be thrilled with my performance.