That's funny you mention the reference to House Hunters. I love that show and it did feel like it. (Although, I'm sure they see more than three in real life but only display three. LOL.) The only thing that would have made it complete would be my favorite part of that show (or is it "My First Place"?) - where they all sit at the closing table together with their real estate attorneys (or agents?), the seller hands the keys to the buyer, and then all hug or cry and sometimes bring champagne. LOL! Unfortunately, it doesn't happen that way here in California.
Although, my escrow officer was a really sweet lady and we joked about that moment as she likes to watch that show, too.
Yes, I think we were in tune with each other regarding the value of the home. From their perspective, it seemed to be a couple with grown kids whose marriage was splitting up. The house was empty, with just a few things of his left. They seemed more than ready to move on with their lives. Since the house was empty and there was no "greed indicator" in the asking price (like $525,
900) I thought that would be an ideal target. It would also make things like inspection and gaining access to the property much easier. That's an ideal situation, imo. I didn't realize the house existed until it had already been on the market for about 3 weeks. They had listed at one so-so price. Then they came down a little. We saw the home and thought about it. Meanwhile, they called IrvineRealtor to say they were motivated and to look for a price drop. I wasn't expecting much so I sat on it. Then I saw the drop with my own eyes and it was sort of astounding to me. More than I would have expected. So, I thought, "If they'll go there without any coercion, what will they do if I twist their arm?!" We made an offer below their already great price. It was July 4th weekend and we didn't hear anything. We were getting antsy. I was beginning to think they were not as motivated as I thought they were. Meanwhile, I was having concerns over what would happen to rates since I had not locked yet! I told IrvineRealtor that if they want to play with us, they should get back to me soon. He told them they best take the offer as-is (hehehehe. I love that part.) They did! When we got the contract back, I saw they had actually signed an acceptance as soon as they got it. It just wasn't returned sooner due to the holiday weekend. Nice to know their mind was still in the game.
I got the house for 6% off their original asking price.
"Do you have to do lots of upgrades/updates?"
One of the things I liked about this house is that it's pretty much turn-key. The house is upgraded. It's been recently painted both on the exterior and the interior. The flooring is all either new or newer. Same with the kitchen. Same with the baths. New/er counters, toilets, tile, paint, baseboards, paneled doors, etc. Their selections may not have been precisely what I would have picked out myself but neutral enough so that I don't feel the need to re-do their remodeling... at least for the time-being. I may make some changes here and there - nothing drastic. Might replace some carpet with different flooring, might repaint. It's not urgent, though. I will probably wait to do more drastic remodels such as kitchen for a time in the future when styles change and granite is no longer "in". If I were to remodel that stuff now, it wouldn't look a ton different. I will wait until it either is in need of repair or I just want the house to stay current. I don't plan on doing more than one major renovation while I live there so I'll probably wait closer to the time that I am the seller myself and want it to look attractive to a potential buyer... whatever the fads are at that time. Know what I mean?
Any home new or old, the new resident will want to make some personal changes, so I've always expected to do something. I'm just glad it's nothing major. As long as the important stuff is out of the way, I'm content to make smaller changes over a longer period of time as needed.
