Sold Stories | 2727 Dicturn St

SOLD--Eagle Rock View Home

We represented the Buyers.

24 offers total.

12 offers were countered. 

Original list price: $998,000.

Sold Sales price: $1,325,000  – 32% over list price.

The Reality of the Competition

In our experience no matter how many offers there are on a property, a buyer is usually competing with only 2-3 other offers. What we mean by that is when Sellers agree to modestly price their property with the expectation it will sell for significantly above the listed price, the majority of Buyer’s offers are near the list price or only slightly over. It doesn’t matter much if there are 7 or 50 offers. In this case the agent priced the property extremely below the market value.  We suspect the majority of offers were closer to $1,000,000.

What the Seller and Listing Agent Did Right

The seller provided records of work they had completed over the years. The home showed incredibly well and the invoices and disclosures were provided to support completed repairs and improvements. 

What We Did Right

Upon receipt of the Seller counter offer, the Sellers granted permission for our clients to conduct a general inspection, sewer inspection and bring in contractors for quotes on customization ideas. The findings from our pre-inspection allowed our clients to adjust their offer to be non-contingent on physical inspection. 

Our buyer agent, Amir, then provided the Lender and Appraiser with timely information in order to remove the loan and appraisal contingencies on time.

Amir’s knowledge of the market’s local trending in terms of price and competition protected the Buyers’ bottom line, while putting them in a position to compete. The fact that the Buyers beat out an all cash offer that was $20,000 higher than their offer gave peace of mind that they purchased slightly below the market value.

We hope this sold story helps you on your next offer. Good skill and good luck.