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. Memorial Day weekend was coming up and I had hoped to take the weekend off, but I knew it would be critical to do another open house.

 

Solution: The open house was packed (this was pre-COVID) 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. 

 

 

 

All in a Day’s Work: Solving Real-Life, Real Estate Problems for our Clients is a regular feature brought to you by Marie Presti of The Presti Group. Our agents specialize in luxury homes, rehabilitations, multi-families and condominiums in urban, suburban and exurban areas throughout the Greater Boston area. Marie Presti is a Certified Negotiation Expert. Reach out at to find out how "We go the extra block.”

 Click here for a Printable Version