After less than a month of being on the market, this multi-use property was under contract for close to asking price within 48 hours of agent viewing property. The final negotiated price was $142,000.
Again, what is the key factor in real estate…LOCATION…LOCATION…LOCATION! The activity on this property was Unbelievable. I received at least 4-5 calls daily, received at least 4 contracts and more than 10 verbal offers. Of course, many were bottom feeders and looking for a steal.
The buyer of this property was in it for the long haul. This investor owns several in the area and was looking to expand their portfolio. They knew the area, liked the area and the best part was they were cash buyers. Therefore; there were NO contingencies except a very short inspection period… I want to say 2 days time?!? The deal closed within 5-7 days of being under contract.
The agent, Jerry King with Homeward Real Estate was wonderful to work with. A no-nonsense agent. He knew what they would pay and hit me with their best offer- not their Lowest offer. So I knew he was real… they were real. Jerry honestly made the entire process go well, from the title company to the closing table. No issues crept up to stop the deal from closing. (The buyers could have made an issue on some tiles that had fallen in the bathroom or the fact that I had no way to get them into the attic space (which added even more value to the asset), but they were aware and still ready to move forward to close).
The seller was absolutely happy in the end. He did not want the headache of a rental property anymore and wanted his money to move on to other ventures in his life. His wish was granted.
Tina’s thoughts to other owners and brokers of similar properties… don’t get greedy… everyone needs to feel that they got a piece of the pie. Everyone needs to feel it was a win-win situation.
Agents like Jerry King- an excellent role model to follow, knows his business and works extremely hard for his clients. He told me he sees at least 200-300 properties a week. Not sure actually if he said week or month… Either way it is A LOT of properties to view. Good Luck Jerry, you are bound for success.
Again owners, if you do not have your property listed with an agent that is hard working… look for one in your area immediately to represent YOU! Those agents are usually the ones that have been in the field for a few years, knows the business and actually owns a couple of investment properties themselves. Good Agents understand the market and what makes a good future investment and for your portfolio.
Good Luck and call me if I can be of assistance…