New Listing - Camden Place Plan 1 condo in Tustin (15218 Wesley Way)

The money quote:

In this regard it is also critical that the buyer's agent is a full time realtor and not a novice or part-timer. My realtor was confident in the buyer we selected, and part of the reason is that the buyer's agent was familiar with the neighborhood and closed a lot of deals there before.  Since buyers are properly vetted financially and otherwise, you can be more confident that they'll perform

I see a wide quality range of realtors on my side of the transaction. It's not possible to count all of the agents who see their deals collapse because they didn't act professionally and vet the intent to close but chose to hype the high price to their client. The right Realtor will balance these two aspects of the deal and receive for it a much higher percentage of successful closings than the industry average.

Why do IR and USCTM always have a Starbucks cup in hand? Because coffee is for closers....

My .02c
 
The higher priced your home is the smaller that buyer pool is.

When the buyer seems "ok", large down payment, buyer with verified funds who wants to close within 30 days and a bank letter stating they will be able to do that, you would think you're ok, but not so fast. That buyer can suddenly decide that the counter offer they gave you with those items isn't really what they meant a week later and has decided to change it all up after your other qualified buyer has moved on.

What can I say? WTH? We accepted YOUR offer without any changes at all and NOW you want a LONG close and have decided to add all these other "things" you want?

Had we had a large number of buyers I would have told the guy to take a slow boat to China....... oh wait........... he's already IN china.
 
The reality is that the price is not the be-all and end-all factor that sellers should use to decide which buyer to select.  How much down, other terms (like a reduced rent back monthly amount), strength of the buyer, and knowing that the buyer is serious in buying the property are also factors to consider. 

That being said, the seller accepted one of the counters today and we will be opening escrow (both counters came in over the list price and were close).
 
IHO - is how you want the process to work as a buyer the way you managed the sales process when you have sold your homes in the past? Transparency to/with the buyer?
 
qwerty said:
IHO - is how you want the process to work as a buyer the way you managed the sales process when you have sold your homes in the past? Transparency to/with the buyer?
Click to expand...

Maybe IHO is talking about eBay auction style of bidding for homes.
 
qwerty said:
IHO - is how you want the process to work as a buyer the way you managed the sales process when you have sold your homes in the past? Transparency to/with the buyer?
Click to expand...

Not once did we say counter with your "best and final". The last time we had multiple offers we accepted the highest one (which was over our list).

Now if the offers were all lower than what we would accept, we would counter back with what we wanted as $X, not some mystery number they have to guess at.
 
On another home all offers were below list but one family really wanted it so we worked with them to hit a price that they could qualify for even though it was below our asking and below another offer.

They had a hiccup in financing and they actually had to change lenders mid-escrow and it took longer but we stuck with them. They were doing everything they could to close (so not like R2D's nightmare buyer).
 
Got a call from escrow that the loan funded and that we will be recording and closing this afternoon.  The final sales price will be $551,000 (via a buyer agent credit to the seller of $3,500).  The buyer is actually the first back-up buyer as the first buyer dropped out because the husband lost his job when we were 14 days into escrow.  First buyer was going to pay $552,500 for the home so both very close offers.  This is why it is very important to keep back-up buyers in the loop, just in case.  Congrats to both the buyer and seller.
 
You must log in or register to reply here.
Back
Top