New Listing - Acacia Plan 5 Detached Condo in Oak Creek (2 Pearleaf)

usctrojancpa

usctrojancpa

Well-known member
I'll listing an upgraded Acacia Plan 5 home in Oak Creek on MLS later on this evening.  The home has 3 bedrooms and  3 bathrooms along with 1,750sf and a full driveway.  The floor plan is attached.  It is located North of Alton in a gated community where you can't hear the noise from the 405 freeway.  The home is priced at $638,800.  PM me or email (mmania001@yahoo.com) if you are interested in seeing the home.  I'll also have an open house next weekend on both Saturday and Sunday (Sept 20th and 21st) at 1-4pm.

Pictures and the virtual tour are up in the link below:

www.2pearleaf.com

As always, I'll have treats for the TI folks who drop by.  ;D
 

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The sellers have accepted an offer on the property, but how it happened was a little unusual.  I got a call from an agent on Monday that showed the property to her client this past weekend.  She said that her and her clients would like to present the offer to my clients in person.  In my years of being a realtor, I've never had this happen (none of my buyers ever made the request and I've never seen it on the listing side).  I thought that my clients would not agree to it but they did.  So we met at a local coffee place earlier this evening where my clients and I sat outside and the buyers and their agent sat inside.  The buyer's agent presented the offer to my clients and I and then we countered a few times via paper counters and about an hour later we had a deal.  So the open houses are cancelled.  :)
 
USCTrojanCPA said:
The sellers have accepted an offer on the property, but how it happened was a little unusual.  I got a call from an agent on Monday that showed the property to her client this past weekend.  She said that her and her clients would like to present the offer to my clients in person.  In my years of being a realtor, I've never had this happen (none of my buyers ever made the request and I've never seen it on the listing side).  I thought that my clients would not agree to it but they did.  So we met at a local coffee place earlier this evening where my clients and I sat outside and the buyers and their agent sat inside.  The buyer's agent presented the offer to my clients and I and then we countered a few times via paper counters and about an hour later we had a deal.  So the open houses are cancelled.  :)
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Always fun to go into escrow so quickly. Thank you for sharing the story!
 
Congrats on another fast sell!

That's an interesting selling story, reminds me of negotiating car prices at car dealership.
 
Congratulations on the selling!

I could see the pros and cons of this approach but I'm surprised that it's not done more often.  As long as the environment was strictly controlled, like how USC did it, it could be o.k.  The pro would be that it could possibly save time.  When I'm the buyer, I hate waiting on sellers that use up almost all of their allotted time to respond each time to my offer/counter-offer (day or two?).  Kind of like the NFL draft.  :p  Of course, some of that might be due to the other side working and can only sign papers after work, etc.

I'm wondering if a modified version of this approach can be used where the two sides both stay at their own homes but agree to spend a whole day at home sending back offers/counter-offers quickly? 
 
paperboyNC said:
USCTrojanCPA said:
The sellers have accepted an offer on the property, but how it happened was a little unusual.  I got a call from an agent on Monday that showed the property to her client this past weekend.  She said that her and her clients would like to present the offer to my clients in person.  In my years of being a realtor, I've never had this happen (none of my buyers ever made the request and I've never seen it on the listing side).  I thought that my clients would not agree to it but they did.  So we met at a local coffee place earlier this evening where my clients and I sat outside and the buyers and their agent sat inside.  The buyer's agent presented the offer to my clients and I and then we countered a few times via paper counters and about an hour later we had a deal.  So the open houses are cancelled.  :)
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Always fun to go into escrow so quickly. Thank you for sharing the story!
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The sellers priced the home very competitively and it shows well so I figured we'd get an offer in the first few weeks because there were like 15-16 showings in the first 4-5 days.  I figured you guys would enjoy how the offer got accepted since it was the first time I had done it with the sellers and buyers in the same place. 
 
lnc said:
Congrats on another fast sell!

That's an interesting selling story, reminds me of negotiating car prices at car dealership.
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Thank you sir, just doing what I do best.  ;)  But yeah, it was almost like a car dealership experience where the salesman goes to the GM/sales manager and comes back with a piece of paper with a new price.  I presented the counter to the buyers and the buyer's agent and then the buyer's agent presented the 2nd counter to the sellers and I (which was accepted by the sellers). 
 
irvinehusky said:
Congratulations on the selling!

I could see the pros and cons of this approach but I'm surprised that it's not done more often.  As long as the environment was strictly controlled, like how USC did it, it could be o.k.  The pro would be that it could possibly save time.  When I'm the buyer, I hate waiting on sellers that use up almost all of their allotted time to respond each time to my offer/counter-offer (day or two?).  Kind of like the NFL draft.  :p  Of course, some of that might be due to the other side working and can only sign papers after work, etc.

I'm wondering if a modified version of this approach can be used where the two sides both stay at their own homes but agree to spend a whole day at home sending back offers/counter-offers quickly? 
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Thank you.  Maybe the buyers were concerned that another offer would sneak in between the counters going back and forth, who knows.  It depends was the fastest counter process I've experienced.  At the end of the day, the buyers got their offer accepted and my clients can stop with all the showings and open houses so really it's a win-win for both sides and that's what real estate should be all about. 
 
I really like this idea... that is, if I'm the buyer. Each time I've bought a house, I've given the sellers only 24 hours to counter, so, this is right up my alley. However, if I'm the seller, I want to allow time for other offers to come in while I consider their offer with less pressure. But, Martin, you don't think your clients might have been at a disadvantage because they were in the less comfortable location i.e. outside during a heatwave??
 
SoCal said:
I really like this idea... that is, if I'm the buyer. Each time I've bought a house, I've given the sellers only 24 hours to counter, so, this is right up my alley. However, if I'm the seller, I want to allow time for other offers to come in while I consider their offer with less pressure. But, Martin, you don't think your clients might have been at a disadvantage because they were in the less comfortable location i.e. outside during a heatwave??
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It wasn't too bad out there, a little humid and warm.  They agreed to it so I made sure I did my job at the negotiation. 
 
Great Job! I had very bad experiences with Agents as buyer and the seller.  Good to know there are Agents who see past the possibility of higher offers in favor of smooth and comfortable transaction for both parties. 

Kudos!  8)
 
I notice this property is still shown on Redfin as accepting backup offers. Did this deal fall through? I've heard that in California buyers have 14 days to retract an offer. Please forgive me if this is a dumb question....I recently moved to Irvine from out of state and I'm still learning about all the "unique" aspects of California real estate.
 
oc_dreamer said:
I notice this property is still shown on Redfin as accepting backup offers. Did this deal fall through? I've heard that in California buyers have 14 days to retract an offer. Please forgive me if this is a dumb question....I recently moved to Irvine from out of state and I'm still learning about all the "unique" aspects of California real estate.
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The majority of real estate deals are contingent on the following:
- Appraisal
- Home Inspection
- Lender Approval on terms that are acceptable to the buyer

Unless a buyer waives all contingencies there is a chance of one of these falling through or the buyer pulling out of the deal before it closes.
 
oc_dreamer said:
I notice this property is still shown on Redfin as accepting backup offers. Did this deal fall through? I've heard that in California buyers have 14 days to retract an offer. Please forgive me if this is a dumb question....I recently moved to Irvine from out of state and I'm still learning about all the "unique" aspects of California real estate.
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The property is current escrow with the buyer that posted about.  Paperboy mostly has it right.  In CA, buyers have a 17-day contingency period where they can basically cancel escrow for almost any reason (including any contingency...home inspection, appraisal, loan approval, HOA, insurability, title report, etc).  I normally change the status of my listings to "back-up offer" once the buyer has deposited their deposit into escrow (usually the day after we come to a deal) AND we do not have any back-up offers.  If we go to escrow with a buyer and we have one or more back-up offers then I'll change the status to "pending" so that my sellers don't have to continue showing the property.  In the former case, I would change the status from "back-up offer" to "pending" once the buyer has signed the contingency removal form.  Feel free to ask any other questions that you may have.
 
Congrats to both the buyer and seller.  Escrow closed and titled recorded this afternoon.  The closing price is $630,000 but both the buyer's agent and I reduced our commissions by $2,500 for an adjusted price of $635,000 to the seller.
 
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