For this home I sold in Fremont for $530,000 I was the buyer’s agent to a very sweet young couple buying their first home. This was a flip home, meaning that investors bought this home, remodeled it, and put it back on the market for sale. There were multiple offers on this home and we were actually not the 1st pick! There was a buyer that was stronger in price and terms than our offer and that was the offer chosen, however, very shortly after they went into contract, the buyer seemed to start back peddling and were making the sellers and listing agent nervous, so the agent called me and told me we were the 2nd choice and asked if my clients were still interested.
The answer was a big “Yes!” and so the seller cancelled the other sale and we went into contract. Luckily, the agent didn’t go back on the market and then let the feeding frenzy begin all over again. We were very lucky that she only called me to work out a deal and gave us the opportunity to go into contract without her conjuring up another batch of offers to compete against.
Overall, the transaction itself was quite smooth. The seller even did some additional repairs to the home while we were in contract. The only glitch was the loan process took way too long with BofA and although we closed very close to the contractual deadline, we did not close on time. BofA was actually pretty tough to work with on this transaction and they really took their sweet time in getting the loan fully approved with much frustration to the buyer.
Now the buyers are happy homeowners, and just in time, since the market has just become insane since they locked into a home. There were a number of offers when they made an offer, and at that time, it was crazy, but shortly thereafter, the market just went completely bonkers. So, they are very lucky buyers!
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