Last night I broke bread at the Tuscan Grille with clients to celebrate signing contracts on their next home after 14 months of work on the project. It has been a journey. I listed their Bryant Gardens co op apartment last Winter, and we soon found a house in White Plains they loved. Unfortunately, the first buyer on their co op couldn't qualify, and we went into the spring watching their prospective house remain active while we worked on a new deal. A week before our new buyer was approved by the co op board, the house was sold to another buyer. They were crushed.
They moved in with her parents after closing on Bryant Gardens while we continued our search, and over the winter we found another home that was pretty close to perfect. We put in a strong bid at the most we could borrow (99.1% of asking), but were told that no decision would be made for another week. 6 tense days later, we were still the high bid. On the 7th day, an all-cash offer over asking price bumped us off.
What made this rough was their specific criteria for the next home to make things work for commute and proximity to family. They needed to be in White Plains with a certain style of home, and their price point did not give them room for much flexibility. So they searched Listingbook daily, and we saw everything that matched their needs. There was no need to see 100 homes over the months; we screened homes well, and I have to admit it made things efficient. I probably showed them 20-25 places.
Two weeks ago, a gem appeared on the White Plains market. The location was close to perfect, the price was right, and it was their layout. The price was designed, in our view, to getting multiple bids. So we went in over asking. Yet again, to our dismay, we had to wait a week for a decision. And we got it.
It wasn't over, though. Attorneys prepare contracts in White Plain like most of Metro New York, so we had to quickly do our home inspection and then sign the contract.
And the attorneys couldn't agree on terms. How snake-bitten could we feel? The other attorney was uncooperative.
After 3 days of very uncomfortable drama, we got the lawyers on the same page and we finally executed contracts and deposit. Last night we got together to plan what was next with mortgage and appraisal, and decided it would be best to walk next door and eat. Now that contracts were signed, conversation had evolved from solving a rubik's cube of lawyers and what-ifs, to happier plans: furnishing, decorating, and landscaping.
Obviously, it ain't over until it's over, but I like our position. And we all agree that the view from their new front window will be beautiful.
Comments(5)