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Knowing When It’s Time to Pursue Plan B
Problem:
I suggested that my clients, who were going through a divorce, put their lovely large colonial in Newton on the market for $1,520,000 and I marketed it aggressively, including a 3D online tour. After two weeks, we got an offer that was slightly lower than asking and contingent on the buyers obtaining a mortgage. It became clear they were running into difficulties getting financing and my clients agreed to give them more time. After more waiting, I advised them that while they shouldn’t officially call off the deal, they had to entertain other options. I knew it would be critical to do another open house.
Solution:
The open house was packed and we got a full-price offer, contingent on financing. The couple who had had trouble obtaining a mortgage came back with the same offer dollar-wise, but this time they waived their mortgage contingency. Then the new folks agreed to up their offer to $1,560,000 million. Choosing their offer would delay the closing by a couple of months, but ultimately my clients chose it. They were thrilled with the price their home fetched.
Result:
After renting for a while, I recently helped the wife negotiate a deal on a sweet colonial that had recently undergone a gut rehab. We identified a few things the developer had neglected to do and made sure everything was finished before she moved in.
