I just had a challenging transaction. The seller was my client and we got an offer within a couple of days. Long story short…there where MANY issues and bumps in the road on this deal.
1. The appraisal came in WAY lower than our offer. I was not surprised about this as it was overpriced to begin with. Why would I take an overpriced listing? Because it was for sure the “castle on the block”…and we thought we would see what happened. I told her I thought it would not come in as high as we listed it…and it did not…but she was prepared to deal with that. Had we not received and offer with one week our plans were to lower the price systematically(weekly) until we got one. The seller did agree to reduce the price but would NOT agree to any repairs. The buyer wanted the home badly enough that they agreed to accept the home in as-is condition…and even agreed to pay for termite treatment.
2. When the buyer had the walk -thru the seller had removed all of the draperies. These were items that had been agreed upon in the contract to stay with the property. It is actually part of the pre-printed verbiage. Again…the buyers wanted the home badly enough that they decided to look the other way and went ahead and closed anyway. I agreed to pay for a painter to come in and patch and paint where the holes had been left in the walls to help smooth over the situation.
3. The seller and buyer had agreed in the contract that the seller would retain possession for 48 hours after close of escrow. She was to be out by 5PM two days after close. She was not. Again she was in breech of contract. Sadly, there is nothing the buyers could do at that time. According to the buyer’s agent’s broker…they would have to get a Forcible Entry and Detainer action. This is a legal action a landlord, or new property owner can take if the existing occupant refuses to leave after appropriate notice.
4. When she did finally vacate…she left the house a MESS. There was a truckload of JUNK that the new owners now had to haul off. Nothing of value at all…just JUNK.
What can the buyer’s do at this point? Find her and take her to small claims court and sue her for damages and costs. Sure…thay CAN do that…but she was moving out of state…so how would they find her?
Sometimes people can be unreasonable. The more “bendable” people are the easier the deal will go…but I sure do feel sorry for the buyers of this home. BUT…they LOVE the home and plan to live there for a long while with their 2 kids and 2 dogs. And I wish them well.
As always… if you are looking for a GREAT agent to help with your real estate needs please e-mail me at Adele@GreaterPhoenixHomes.com or give me a call (or text) at 602-504-3898 or 888-897-7821 x 114. Plus, I have a GREAT search tool on my web site that gives you the ability to search the entire MLS…just like agents do. Very COOL! Go to Metro Phoenix Homes For Sale and check it out! YOU can create and save as many searches as you would like…and it is THE SAME SEARCH I DO AS AN AGENT! You will LOVE it!
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