We had a would be seller who was referred to us call and tell us quite proudly, that he not only would not need our services...due to his own networking in real estate, he had sold the house himself. Not only was he saving the commission...he thinks the offer will be tens of thousands more than we suggested. "WOW...quite a success story!" I congratulated him...that is something we certainly could not have done..."Please tell me the rest of the story."
The seller "got the house back" after it had been awarded to his wife in their divorce. She was unable to keep up the mortage payments, owed taxes and decided to escape to the sunny south and give him back the house. It is unclear if the "give back" is is legal, written or recorded.
The house had been neglected so Mr. I- Don't -Wanna Be -Upside- Down, spent a week, cleaning and painting...and then when he had mentioned at his favorite coffee shop that he was fixing up the house he got back the coffee shop owner approached him as a buyer. "I could believe how lucky I was..I threw him a price..tens of thousands more than you said....and he is calling me Monday to tell me if he is going to buy it. I told him...he has until noon or the price goes up $25,000....I will have to go back to painting and my time is worth more than that."
We have been in the house....I hope the paint covered the brown bathroom fixtures...the 60's kitchen....the light fixtures that could only be called retro...replaced the shag carpeting....and the above and beyone wear and tear had magically disappeared.
It is never about what you want....what you need Mr. Upside Down Seller...what about the liability ....what about the physical condition of the house that the paint is not likely to remedy ? It is....as we told him before the paintbrush hit the can....about what the market is willing to pay...what the appraiser says it is worth...what the bank is willing to loan...and paint and no commission has never turned tens of thousands from
to
Profitably Right Side Up !
Sally K. & David L. Hanson, ABR, CDPE, CSS, e-Pro,ILHM, REDS
Go figure??? There are all types and thanks for sharing
IF paint was all it took....we should all be working in hardware stores !
Well, he sounds like quite the genius. NOT. FSBOs say some of the dumbest things. How'd you do that with the upside down font?
And I'm sure he won't call you back to beg say that he needs your help after all!
Someone has been watching to many FLIP THIS HOUSE re-runs! Unrealistic sellers price themselves OUT of the market and leave more would-be buyers for home sellers that are correctly priced.
Great story!!!
Heck of a marketing plan!
your friend in Charlottesville!
I agree with the flip this house comment. It all looks so easy and everyone makes money so easily. You go in..slap some paint on it..and you make a ton of money
Becuz they want sooo much to believe it's an easy fix....easier than believing that the profit they imagined is just that...imaginary....
Sally and David, raising the price $25,000 by Noon the next day sure is a motivator to purchase a house that is already overpriced. He may call you when he comes back down to earth and realizes the error of his ways.
That may happen Michael...he isn't a bad person...he is just not realistic...and not sure we can sell houses on the same planet !
It isn't under contract and it isn't closed! Plus here in our neck of the woods, alot of FSBOS end up in court. It ain't over til it's over. Paint or no paint!
Maybe that would be an effective marketing tool... a list of court cases around the county for the whoops of the FSBO....know what you don't know...rarely will "a little dab do ya" !
It will be interesting to see what song he will be singing in a couple of days! Some people just never wake up and smell the coffee!
I only wish you could have seen the house...of course we have not seen it "new and improved" but the before pictures....update was not part of the housescape....and paint...hmmmm....
Hi Sally
I saw your post in Facebook. Did you have that auto post into face book or did you post the link? Fabulous Idea to have your post in FaceBook too. :)
Auto-magically Katrina..good to see you !
Auto-magically Katrina..good to see you !
I hope you will keep us updated as you hear anything on this property. "Price goes up at noon" could turn out to be the marketing idea of the new year! LOL!
Hope the appraiser thinks so too !
As Paul Harvey used to say, I hope you get to tell us "the rest of the story" someday.
I like the Buyers who tell me how good a bargain they got on the house I'm inspecting. I've already pulled the MLS sheet and the public records, so I know what the listing price is, what it most recently sold for, etc. Then when I follow up and find out that they closed escrow, I can see the price they paid right there on the MLS sheet and the public records. Hmmm. It's a good thing that "Good bargains" are defined by the person bragging about it.
Ahhh...trust me Wayne...that will be a blog...You bet Russel...good like beauty is in the eye...or the wallet of the buyer/beholder