Category Archives: condo

Just Sold in Saratoga for $900,000…

For this condo I just sold in Saratoga for $900,000, I was the agent for the seller. I have now sold this very same condo 3 times! The condo market is definitely not as hot as the SFR market, so it’s a little more questionable for how things will go with a condo in this COVID world we live in. Fortunately, there was a buyer that really loves this community, and was actually waiting for another condo to pop up, so we likely got lucky in that sense. Once we listed the condo, the buyer made an offer right away, and based on the overall activity and such, we felt it was best to take the bird in hand and not mess around.

This buyer was super solid, large down payment, made an offer over the list price, and waived ALL the contingencies (loan, appraisal, and inspections).

The transaction itself was super smooth…until it wasn’t…towards the very end of the transaction, the seller got a letter from the HOA that they noticed the sellers had hard flooring and are an upstairs unit, which does not comply with the HOA rules and regs. Well, firstly, in the community there are a number of upstairs condos with hard flooring, AND for this particular unit, the ONLY hard flooring is in the entry and hall, and is a VERY small part of the overall flooring.

Secondly, this owner did NOT even install the flooring, they bought the condo this way. Not only that, but even the previous owner did NOT install the flooring and bought it the same way. The flooring was put in over 8 years ago and 3 owners ago. Apparently, the HOA was looking at online pictures of the inside of units while they were on the market and that’s how this all came about. They never even had a complaint from the downstairs owner.

So, there was a lot of back and forth about this flooring issue, which probably takes up maybe 4% of the overall flooring and never a complaint from any other owner or neighbor, just the HOA actively seeking out violations on the internet. Wow!

The owners were able to get an emergency board meeting, since we were seriously close to closing the transaction. This notice came very close to the closing of the sale, so the timing was really crazy. And, the HOA decided to let the flooring stay as it is, as long as the neighbor below has no complaints. We talked to the neighbor below and she had no issue with the flooring and even advocated for the sellers that it was no problem for her.

So, in the end, after all of the back and forth, and this notice coming out of nowhere just maybe a week before the transaction closing, the end result was to do nothing and just let it be.

Most people don’t even read all of the rules and regs of the HOA docs, especially to the level of what type of flooring is permitted. And in this case, this condo had been passed on from owner to owner now 4 times (to include the most recent buyer), without any of them even aware there was an issue until this came up. There are currently a number of upstairs units with hard flooring in most of the space, so it’s a rule that not too many seem to be aware of. But, now I know…and NOTED!

Sold in Saratoga for $900,000

Sold in Saratoga for $900,000

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Just Sold in Fremont for $575,000…

For this condo I sold in Fremont for $575,000, I was the agent for the seller, who told me that his mom actually found me on the internet. Yay for mom! This is a great condo and meticulously maintained by the seller. There were 2 items that made things a bit more challenging to spark a lot of interest, 1 is that the owner occupancy is SUPER low in the community, there are actually more tenants living in the community than there are owners. So, not only there is a bit of a stigma to some buyers for that scenario, but also banks aren’t thrilled with it either. So, there just are not as many buyers or loan options when there are more tenants than owners.

The other item that some of the buyers had a hard time with and couldn’t get past is that there were absolutely no doors on any closet, so not the bedroom closets, not the hall closets, nada. The place looked great and very clean, and it actually made the place look bigger and gave more space, but the lack of closets was an issue for some, and although they can be added back, of course, some buyers just don’t have vision or want to do it, I guess. Not only all the doors were missing, but so were the tracks both on top and bottom. So, it would be a bit of a project, not huge, but a bit of a project to add in the tracks top and bottom and then also the doors again. It looked great without them, but yet, most buyers want closet doors so that their stuff is not showing.

For the transaction itself, let’s just say it would have been nice to have other options. The main negative anytime there is only 1 offer on a home, is that even if you aren’t thrilled with that buyer or agent, you are kind of stuck with what you get for the most part, if that 1 offer is basically acceptable overall in price and terms. And, between the buyers and their agent, it just did not go well, at any level, and by the end, I just wanted this to go away. The buyers were ridiculously picky, did not remove contingencies on time, and then would not send the necessary paperwork to extend contingencies and escrow and such. I could write pages just about the details of the transaction and all that did not go right, but it would be such a long story and frankly, I don’t want to re-live it.

It was horrible, I was constandly chasing the buyer’s agent to simply stay in contract and not let dates just pass by with nothing in writing! But we got through it. I felt confident the transaction would close. I knew the buyers were just scared and misguided, but things would work out in the end. Although, during the process, trying to explain to a client…don’t worry, it will happen…when you don’t have any hard evidence to prove it, except your gut feeling and experience, is not really ideal.

Just Sold in Fremont for $575,000

Just Sold in Fremont for $575,000

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