You've Been Chopped - When Houses Don't Make the Cut

You’ve Been Chopped!  Walking away from an Offer.

It's not fun to do, but I just had to advise my buyers to rescind their offer on a property after discovering additional information. First of all, the property has two homes on the acreage - perfect for their particular situation. The family, with two children, also want a separate residence for the wife’s mother. We've been looking for a good match for quite some time, as their budget is under $400,000.

The guest house is perfect for their needs, it has high ceilings and just the right amount of space. Unfortunately, the main house still needs some updating, in spite of the new additions to the basement. The MLS listing data indicates new updates that are bright and shiny.  Wonderful, but without the necessary permits, it’s difficult to verify. The family decided they could make the necessary improvements in the next few years and increase the home’s value.

Due Diligence can lead to unsavory findings.

I spent a good part of yesterday doing research. Due diligence is an important factor in preventing home purchasing mistakes. When there are modifications to a home it’s imperative to verify that the work was done by licensed contractors and that at all the necessary permits were pulled.  In this case, important permits ( electrical and plumbing) were missing and the listing agent failed to provide the documents.

And, just as alarming, new zoning also raised a red flag. Clark County has recently changed the land use designations throughout the area to spur economic development. While, it’s not necessarily always a negative, conversations with a zoning representative indicates that this parcel is not only likely to be surrounded by business parks, but is likely to impacted when the main road is widened for sewer improvements.


Obviously, the now private and serene family retreat could look very different in the future. The exact impact to the value of the property is difficult to predict, but in my opinion, it’s enough of risk to warrant extreme caution. I’m happy these people trust me, and while disappointed, they agreed, the changing landscape of the neighborhood is no longer a good fit for their particular goals.

Having the chops to walk away.

When I called the agent last night to let her know we were rescinding the offer, she too was disappointed ( she is representing family members in this sale). I heard myself gently explain the reasons why the buyers are no longer interested in the home(s).  As I hung up the phone, it reminded me of one my favorite cooking shows , I could hear one of the celebrity chef/judges saying, “You’ve been chopped.”

 

 

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Debb Janes EcoBroker&Realtor®~Sells with Soul

The Carl Group, Serving Clark County, WA
Specializing in Vancouver - Camas - Washougal - Fisher's Landing    

you can always find me at ExploringClarkCounty.com

As an EcoBroker, I combine my love of nature, people and the planet with my job as a Realtor®, that way, I can help you live in a more beautiful, comfortable and healthier environment, and save you money. Let me be your guide.

In addition, my passion for the Northwest lifestyle and our area's many neighborhoods ensure you a great selling or buying experience.

 

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