I received a call from prospective clients interested in purchasing a home in Blaine. They had a house in mind and a house to sell. I met them at the house they were interested in. It was the ONE. They wanted to submit an offer instantly. We discussed that submitting an offer contingent on their home selling might not be in their best interest. We also discussed how strategically pricing their current home could lead to a quick sale, giving us negotiating power on their new home purchase.
The home they were interested in had been on the market for 55 days. They decided to go home and get their house ready for sale. Six days later, I was sitting at their dining room table completing the paperwork to list their current home. Photos were taken the next day, and we hit the market. Within 24 hours, we received multiple offers. Our strategic pricing landed us an offer above the price range we were hoping for! We put together an offer for the ONE, and it was accepted. We were set for the closings.
Or so we thought. During the week between Christmas and New Year’s, we were bombarded with emails, calls, and texts from the buyer’s agent for the home my clients were selling. Inspection timelines had passed; however, the buyer was having difficulty obtaining home insurance due to a prior homeowner’s insurance claim from 2017 (made before my clients even owned the home).
To overcome this obstacle, I called city inspectors, networked with insurance companies, obtained quotes, kept communication lines open in all directions, and, in the end, negotiated a slight price reduction to offset the cost of the increased insurance to appease the buyer.