Another Gainesville Home Sold to Very Happy Buyers
In early May, I was contacted by former clients who were looking to buy a home. They had owned homes in Bristow and even in Haymarket. At that time, there were happily renting a home in Gainesville, which seemed to be a lcoation that suit them just fine. While their ideal was to stay in that same area of Gainesville where they were currently living, they opened up their search to Manassas, Bristow and Haymarket.
After two attempts at landing homes, one in Bristow, one in Gainesville, they got the picture that this was a Seller's market. If they liked a home, odds are, someone else was going to like it too. So when they found this one, they didn't waste time writing an offer and negotiating terms that worked for them and the Seller. That contract was written on June 13th and ratified on June 15th.
One of the things that the Sellers had done was gotten themselves into a "have to sell" situation. They had already gone under contract to buy another home and needed to settle by July 15th on the home they were selling. The Buyers had a lease in place through September 30th, so to meet the earlier settlement date than the Buyers' had propsed, the Buyers asked for an additional amount of closing cost help, just under one month's rent.
After a rather uneventful home inspection the time came to wait for settlement. The only isuse that did pop up was HOA violations. The Buyers and I found out about them three days before settlement. Yikes. By the contract that we follow, HOA violations must be fixed by the Seller or settlement can automatically be delayed for thirty days for them to be fixed. HOA's can fine up to $900 per violation, so having four or five outstanding is no joke. As mentioned earlier, the Sellers had a home purchase lined up for July 18th and couldn't wait. So an abatement letter, clearing all violations from the HOA to be delivered to the Buyers was tied to the security deposit of $1,000 on the Sellers post settlement occupancy.
On July 15th (2014) when this Gainesville home in Carterwood, originally listed for $405,000, sold for $399,000. In total, the Sellers gave the Buyers $7,700 in closing cost help.
If you are looking to buy in Bristow, Gainesville or Haymarket, give me a call and let's get to it. I know how to protect you when the things start hitting the fan.
Comments (11)Subscribe to CommentsComment