I received a phone call from one of my investors that is ready to purchase another home using 1031 Exchange. He has one subdivision in mind and is ready to move. He will be down here Friday the 25th of May. He calls Monday morning just to check in and see what is happening in that subdivision. I take a look and a new listing has popped up for a very low price I have not seen in the subdivision. Site unseen we decide not to wait for him to come down here and see the property that we would write up an offer for full price.
I call the listing agent to advise and see if any other offers are on their way. No, no offer as of yet and the listing agent will be in the area and is willing to show to my client. I explain that the client is in another state, but daughter is in the same subdivision and would like to take a look at it. It is shown later that night and the home is OK, not excellent. Needs about $5000 in repairs. The norm, carpet, paint and a little yard work.
So, I move forward in getting all the paperwork emailed to my buyer.
The next day we go over the paperwork and he is getting ready to fax it back to me when I receive a phone call about the listing price. It was changed and I did not notice it. The new full price of $4000 higher. It was a typo on the listing agents employee when it was put into the MLS. So, now my buyer and I are trying to figure out what our next move is since I have already told the listing agent full price, but no numbers. So, I tell the listing agent about the difference in price. She says she will honor the full price and explain back to the seller what has happened. I said I would not go forward with the lower price if I did not get a chance at least Memo to Buyer of giving us a chance at the new price or we will change our strategy. She said she would explain.
Well, I am amazed she explained to the seller and we received a counter that we accepted.
I owe it to the listing agent that held true to her word.
I deal that did not so south. Thanks to the listing agent.
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