The Story of Closing a Pool Home in West Sacramento
The story of closing a pool home in West Sacramento is a classic, with a few twists. We were on the market for 7 whole days before we solidified an offer. An agent approached us to say her buyer, who lived in the Riva on the River condos, was interested in making an offer. Unfortunately, it was a contingent offer, although the buyer’s home was not yet on the market. My response to that sort of thing is always “get it on the market.”
But I’ve had a lot of experience selling many condos in Riva on the River, so that should be a quick sale. We agreed to give the buyer 10 days to sell her home. By the time the 10th day rolled around, I went to the seller and suggested he issue a Notice to Buyer to Perform because it was time to put the pedal to the metal.
My 40-some years in the business always pays off. I could sense the seller of the pool home in West Sacramento was a bit reluctant, so I more strongly encouraged him to sign it. Hey, it was in his best interest. Besides, we had also collected a backup offer. For more money. This gives us leverage in the event the first buyer decides halfway through the transaction to try to renegotiate price or asks for a credit.
In these types of instances, we often issue a counter offer. Typical counter offers increase the earnest money deposit because some agents think 1% is sufficient when it generally is not. We shortened the inspection periods. Changed title and escrow. Why do buyer’s agents think we would be willing to close out the escrow we have opened and switch to the buyer’s agents’ preferred escrow company? In a seller’s market? I dunno.
We also included the fact the home is sold AS IS. All homes in California are sold AS IS but few agents realize it. If they don’t know it, you can bet their buyers don’t know it, either. So I like to point out paragraph 11 and remind the buyers our terms are no renegotiations, no credits, no repairs. Doesn’t stop them from asking sometimes, but the answer is still no. When the market fully shifts, that type of tactic will change as well.
Turned out the buyer could afford to buy the house without selling her condo. When she received the Notice to Perform, she withdrew her Contingency to Sell, reduced her down payment and sent a new preapproval letter. Her agent was on the ball! So nice to work with her, too.
We closed escrow on this pool home in West Sacramento without any hiccups on June 21, my favorite day of the year. It was also the day I closed up our house in Hawaii and headed back to Sacramento.
1660 Headslane Road, West Sacramento, CA 95691, closed escrow June 21, 2018, at list price of $425,000. I can sell your West Sacramento home, too. Just call Elizabeth Weintraub at 916.233.6759. Put 40 years of experience to work for you.