I was showing Oak Lawn condos for sale to a family recently and stumbled across a steal!  We were surprised to see that the Oak Lawn condominium had a large in-unit laundry room, as it wasn't listed on the MLS print-out.  It was priced OK without it, but it was a steal with this feature!  This agent made a huge mistake that will cost his seller money.

This was a bank owned foreclosure and although I anticipated other offers, I figured by omitting the in-unit laundry, maybe not too many other bids would come in, if any.  But after we sent in our offer, we were informed there was another.  Then I received a call that there were now multiple offers.

My seller was not emotional and when the bank came back with a counter-offer, my seller went up only $5,000 from his already low cash offer, knowing there were other offers on the table.  I then received a phone call telling me that a mistake was made when entering the listing and pets were not allowed.  I believe this 2nd error caused the other offer(s) to pull out, because now the bank came back with a better counter-offer.  My seller came up another $5,000 and stayed firm.  We were told the bank accepted the offer.

This listing agent didn't do his sellers a favor

This is a well established brokerage and I'm surprised at the mistakes I saw on this one listing.  I know it's basically a one-man/family brokerage and he uses assistants, possibly younger family members.  Someone did a sloppy job putting this in the MLS.  Great for buyers, not so great for the seller.

When I put in a listing I ask my sellers to read it over as it's difficult proofreading your own handiwork.  I can understand that no one at a bank would take the time to read over this listing, but in this case someone else in the brokerage office should have double-checked it.  I'm certainly not going to point out their error as I'm working for my buyers.

This offer was so good a seller could flip this condo

As far as I could see, only cosmetic work needs to be done and with the price accepted, the most recent lowest priced condo similar to this one that had sold and closed sold for $50,000 more!  This is such a good deal it's something I would consider investing in.

But the buyer's attorney is nixing the deal

If anyone has done a short sale, foreclosure or relo company transaction, you know there is a lengthy addendum that needs to be accepted and signed before the contract is fully accepted.  The buyer's attorney stated that this was the worst addendum he has ever seen and afforded his buyer no rights.  I mentioned this to the listing agent's assistant and she said she's seen much worse addendums than this one.

Of course, it does give the bank protection from anything that can arise, but some of the things my buyer stated (that his attorney supposedly told him) were not how the listing agent and I were reading off the addendum.  This is a long-time attorney/friend of the family and there's no way I'm going to convince these buyers to get a second opinion.  So they will most likely walk away from this excellent deal and never find anything close to it.

I have handled the sales of many short sale, relo and foreclosure properties and if the buyer wants the property, they sign the addendums.  I've never had any problems because of them.

If you'd like to have a chance at this great Oak Lawn condo for sale, give me a call

It is a shame for anyone to walk away from this great value.  My husband and I just purchased a Scottsdale AZ condo for sale and are not in the position to buy right now, or I'd be next in line if my current buyer walks, which I have every indication he will.

So if you're considering purchasing a 2 bedroom, 1 1/2 bath condominium in Oak Lawn, IL with a formal dining room, eat-in kitchen and an in-unit laundry room that will sell for around $50,000 less than similar Oak Lawn condos, call me at 708-536-8200 or use the "Email me" link to the right.

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