Apr
2
Let’s See if We Can Jinx It: Possible Offer on House #2
April 2, 2008 |
I’ve been holding off on posting some pretty exciting developments over the weekend, wanting to get the actual offer in my grubby paws, but oh, what the hell, here goes: it’s looking like we’ve got a full-price, cash offer of $149,500 coming in the next few days for House #2, with closing in 3-4 weeks.
So, umm, yeah. Good news. Amazingly good news, even, on a couple of different fronts. We haven’t even listed the house yet, so the “list price” was just a number we stuck on it for a city-wide tour of open houses that happened last weekend for our wee little town’s “Rites of Spring” celebration. I was planning on actually listing it at something like $146,500-$147,500, so an offer for $149,500 is a nice little unexpected bonus.
It’s also an all cash offer, which I won’t bother commenting on the benefits of, as that should be pretty obvious.
The potential offer is coming from a family that I’d mentioned here before, who were looking to find a 4-2 in town to move into with their mother, who was uprooted by a big honking toll road that the state is building in our neck of the woods. They’re apparently getting cut quite a big check by the state, thus the cash offer. I’ve actually heard some crazy stories about the payouts some people are getting, stuff like people who are renting getting paid $5,000-$20,000 for being dislocated, and home/property owners are getting paid out generously as far as not just getting fair current value but also projected appreciation for the next ten years.
The only hitch (and why the offer is still on their agent’s desk, which I know because he works in the same little office as our realtor) is that the state wants to cut a check to the mother and the children, as the husband/father died recently without a will, and the property was in his name. The family wants the money to go to the mother, and for her to be listed in the offer as the sole purchaser, so they’re seeing if they can basically assign their rights in the peoperty to the mother, etc.
Normally legal talk like that would scare me but in this case it’s pretty straightforward, as the kids and mother are going to be living in the house together, so it’s not a case of one kid wanting cash, another wanting to buy the house, a third on the fence, etc. All their interests are aligned so it should be pretty straightforward to work out.
Another nice perk is that our realtor and the other agent agreed to give us a break on commissions, so we’re only paying 4%, as the house was never listed or marketed, and it was a bit debateable as to whether or not I brought the buyer to them myself (they’d technically been in the office before they talked to me, so it was a bit of a gray area as to whether they had an agent or not).
But yeah, technically no offer yet and we definitely haven’t closed yet, so I’m trying not to get ahead of myself. But pretty damn good news nonetheless, and definitely very encouraging. Fingers crossed.
As far as the house itself, still a few odds and ends remaining to be done, but it’s mostly there. Finally. One solid day this weekend should wrap it up, then it just needs a good cleaning and I can snap some photos and pretty much call it done, done, done.
Comments
1 Comment so far
Fantastic! Don’t feel too bad about paying the 4% commission. Those realtors really are giving you a deal. Also, they could sue you if they felt they had a case and deserved the commission. So, 4% is a small price to pay. No biggie. Besides, an all cash offer would just soothe any minor complaints you had, I’m sure! There’d be no underwriter to ruin your deal! Congratulations!