I was referred to Aleena and Roger by a neighbor who was looking for a home a few years ago. Back then, we talked about neighborhoods and she really liked Parkmead. She ended up renting in a Parkmead home, then the owners decided to sell and she bought the home without it going on the market, so it was very nice that she thought of me when her friends started to look for a home.
Aleena and Roger really knew what they wanted in a home. They would search on their own and then call me if they found something that interested them. We wrote a couple of offers and they got a sense of the market and what was most important to them. A couple of weeks before Christmas, they found a home on Wedgewood in Pleasant Hill and decided to write an offer.
The home is on a quiet court with views of Mt. Diablo and Dinosaur Park right behind them with access to the park between their home and a neighbor’s house. There was an offer date of December 11, the contract was written up via phone conversations, emails, and electronic signatures while Aleena was traveling. The home was listed at $995,000 and they offered $957,000.
The home needed a little work and was a trustee sale. I wasn’t sure if there was interest from others and explained that if there were any higher offers, Aleena and Roger likely wouldn’t be considered (writing offers is a bit like poker; you never know if someone is bluffing about interest, or if you don’t have a great hand/a full price offer or higher, will somebody else have a better hand/offer. As it happened, with the holidays, the rates, and the work to the home that was needed, we were the only offer!
They countered us higher, but the buyers went up only $10,000, knowing we would be doing additional inspections. We found many issues and negotiated a $13,800 credit with their $967,000 offer. After we got into contract, we learned that there had been recent transfers of the trustee, and actually ran into the trustee while doing inspections. I asked about it and found the original trustee was no longer able to serve in that capacity, so the court appointed a trustee to complete the transaction.
In addition, we found out more about the house from the home inspector, who said when he did the original inspection, the home was so full of boxes and other stuff that he was unable to fully inspect the home. We had a closing date of December 28, with contingency removal on December 26. Additional inspections were ordered and was waiting for reports with pricing to ask for a credit, which I had told the listing agent would have a request for repairs by Friday December 22 (I got it to her that afternoon).
What I didn’t know was the court attorney had to sign off on everything and she left early afternoon on Friday and then had the week between Christmas and New Year’s off. Per the lender, we could not close past December 29. The buyers had movers organized and it became very stressful for all parties involved.
Everyone came through and we ended up closing on the 29th, in the future, if I ever have such a quick closing during the holidays, I will advise to expect delays, get more clarity from the lender what could happen if there are delays and make sure there is some wiggle room. I am now much more aware of other decision makers holidays such as an attorney who does not work realtor and lender hours. However, I believe both parties wanted to close before the end of the year so it all worked out. The lesson that keeps getting reinforced? Communication from all parties is key to a smooth process!
