When My listing on a Homelands town home sold, some Realtors thought it’s April fools . Long story short: Flyers that we delivered at the Homelands townhouse complex provided us with another listing. This time the property had not been updated. The owner agreed to list it for sale just under the market value, with the offer date set six days ahead. Six days-six offers, so we were all excited! Our mood changed half way through the presentation when the first 3 offers came at listing price – but not a penny more. Waiting for the last realtor to present, we were sitting at 10k above listing, but still not satisfying to the owner. Then walks in an agent with $30,000 above the listing. Bingo!
Time for more flyers, as our listing sold for the highest value ever (for a unit with no upgrades) in the complex.
The market was just crazy. Soon after, I visited a house where a furnace/gas explosion occurred and the house structure has been compromised.
It was listed for land value only. My client believed he could save some of the structure and with 12 offers in, we came with $43,000 over asking… and firm, just to fall short by another $39,000.
The next property I showed to the same client was a property devastated by a fire and stripped to the bones. It was listed almost at the selling price of the property with the gas explosion and for biding so we opted to wait and see what happens.
You guessed…bad idea… or maybe not so, as it sold $31,000 over asking.
We – my client and myself, rolled our eyes and decided to buy some beers instead.
What else happened in April? One of my clients unfortunately received some inaccurate advice from their lawyer, telling them they can sell their gazebo privately (which was attached to the deck.) Anything attached to a property is considered a fixture and unless it is clearly signed as excluded in the agreement of Purchase and Sale, they must stay with the property (note: ALWAYS… ALWAYS… and this is not a commercial for women… ALWAYS choose a Real Estate lawyer to give you legal advice when dealing with Real Estate matters!) The transaction will still close but if buyer insists – the seller will have to compensate for the gazebo.
Also in April, a first time investor we helped with renovations, sold her property beating previous highest sale by $27,000!
Unfortunately a client who’s property we sold decided to go with another realtor – a friend – who is looking to find her a place downtown.
May will be just as busy.