Author Topic: New Pocket Listing - Garland Park Plan 1 condo in Woodbury (188 Guinevere)  (Read 533 times)

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Offline USCTrojanCPA

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Earlier today I got word from escrow that my Garland Park condo pocket listing closed. I represented both the buyer and seller on the transaction. The closing price for the condo was $705,000 (the buyer applied my commission rebate to lower the purchase price) and the buyer provided the seller a free rent and paid for the owner's title policy and county transfer tax to keep the sales price lower.

The seller is one of my existing clients who I helped to buy the condo 2 years ago for $630k.  They reached out to me as they were looking to upgrade to a larger 3-bedroom home because they had a baby recently and were working from home so they needed more space.  However, they were very Covid sensitive so they were not comfortable listing the condo for sale and allowing people to go through the home. I actually helped them by purchasing their single-family home for all cash and then selling it back to them for the same price.  They will be purchasing the home back from me next week.

My buyer (non-FCB cash buyer of all things) was a lead from HomeLight who was relocating back to Irvine from the Dallas area, go figure.  He flew in from Dallas for 2 days and I showed him 8 properties and once I knew what he was looking for I asked the seller if I could show them their Woodbury.  Well, he fell in love with it once he stepped into the door due to the great condition, tasteful upgrades, and it was across from the park.  So after a round of counters, they came to terms and we opened escrow last month.  Because the buyer was an all-cash buyer he could have closed any time but we closed today because it was 2 years + 1 day after the sellers purchased the condo so that resulted in the gains because fully tax-exempt.

The benefit to my buyer is that he didn't have to deal with bidding wars and the seller benefited from a lower commission and not having to pay for staging the condo after moving out and the carrying costs until it sold along with getting a free rent back and picking the exact closing date.  Big congrats to both of them.

Here is the Redfin link of the listing:

https://www.redfin.com/CA/Irvine/188-Guinevere-92620/home/12253576
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

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Offline woodburyowner

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Is there a cliff notes version of the sequence of events?  I'm a bit confused when reading what exactly happened...

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Offline qwerty

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This is a great service that I’m guessing not many, if any other agents offer. USC once again differentiating himself from the rest of the agents.

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Offline USCTrojanCPA

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Here's the cliff notes version...

1) Existing client looking to upgrade from 2bed Woodbury condo to 3bd detached home was contingent and not comfortable listing their home for sale while living in it

2) I stepped in as a cash buyer to purchase their 3bd detached home on their behalf (flipped it right back to them at the same price I purchased it for)

3) Got lucky that a non-FBC cash buyer contacted me from HomeLight who was looking to move back to Irvine from Dallas area fell in love with the home after I showed it to him

4) After one set of counters they came to terms on 188 Guinevere

5) Buyer got a home without having to get into bidding wars and seller saved money on commission, carrying costs, and staging plus got a free rent back

6) Everyone won
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

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Offline USCTrojanCPA

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This is a great service that I’m guessing not many, if any other agents offer. USC once again differentiating himself from the rest of the agents.

It's all my clients that helped me to get to the position that I am today so it's only right that I return the favor to clients.  I'm helping my clients when they are stuck.  What's funny is that I've gotten outbid as a cash buyer making all cash offers for my clients even when I'm the only cash buyer.  For example, the home that I purchased for this client had a higher financed buyer that beat me but they got cold feet and canceled escrow so the house became available for me to purchase.
Martin Mania, CPA
AgencyOne
CA BRE License # 01799007
CA CPA License # 107675
mmania001@yahoo.com
714-747-3884 cell

Often imitated....Never duplicated!

Offline eddieuclabruin

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I was the buyer that is referenced by Martin in these posts. I met him a few years ago through this website and I can say that he is now not merely our agent, but also our friend.

What he did for us with this transaction went so far above and beyond what a normal agent would do for their clients that there would really be no other way to describe Martin other than simply saying that he is truly a one-of-a-kind agent. We are truly grateful that he was willing to do this for us and there's no doubt in mind that if it weren't for his help, we would not have been able to secure a single family home in this insane market.

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