For this home I sold in San Jose for $1,575,000, I was the agent for the seller. This is my 4th transaction with this client, and was her buyer’s agent for this home! This is a gorgeous home and very lovingly cared for, although, there were a few factors for this home, that made it a bit on the challenging side. For one, the floor plan is not that open feel type, personally, I love this floor plan, but it does not have the open type plan in which a lot of buyers are looking for these days, and it would be a bit hard to open it up for this particular plan. Also, this home sits on a T lot, so there were a number of buyers that did not want a home on a T lot. And, there was also a couple of cracks in the foundation, although, not a big deal for this particular case, easily fixable, but sometimes buyers are just leary of foundation cracks and it can be a bit scary to buyers that maybe don’t fully understand the situation at hand for this particular case. Those things, coupled with the fact the market has slowed down, and not the frenzy of early 2018, were factors in the turnout in the number of buyers for this home.
We did get buyers that fell in love with this home, just like my clients had fallen in love, and we did get an offer about list price, and the buyers were willing to give the sellers a FREE rent back. So, the sellers did do quite well, they bought the home barely 2 years ago, and did pretty well in 2 years, especially given the fact that the market has slowed down.
The transaction itself was overall smooth, although we did enter a hiccup, but we got through it. We supplied the buyers with inspection reports and explained the cost for the foundation to be repaired. I had talked to various foundation contractors who quoted me rough prices for the fix, we gave that info to the buyer’s agent. So, we were all on the same page, or so we thought, going into the transaction in regard to the foundation repairs. But, it seems that when some types of buyers have a way to re-negotiate, they just take that opportunity to do so, even if it’s not kosher, and even if they had the info in initial negotiations. I find that it’s taking advantage of the situation, so NOT cool, but some buyers just do what they do. We managed to get through that hiccup and completed the transaction. We really did everything on our end to avoid this type of mishap, but sometimes you run into a buyer that just doesn’t care about what’s right.
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