Getting Your Offer Accepted: Price Isn’t Everything

By
Real Estate Broker/Owner with Steele Group Realty DRE# 01474222

Getting Your Offer Accepted:  Price Isn’t Everything

 

It is a very rewarding moment when you learn that your offer on a highly desirable property was accepted over other competing offers….especially when the buyer is your best friend!

 

This last week I showed my dearest friend and her husband several properties.  They are looking to move-up to a larger single-story home on a private lot with a swimming pool.  Nothing seemed to be the exact fit, until the PERFECT home came on the market as a short sale; a gracious single-story home, on a beautifully landscaped one acre private lot with a gorgeous pool and its own 9-hole putting green, complete with sand traps!  As we toured the property, my friend just fell in love, and I knew this was the one.

 

The home is being sold because the owners are sadly divorcing.  However, every corner of the home and yard is full of personal touches that reflect how much love went into creating the home. From the Koi pond filled with beautiful golden fish to the landscaping and surprising garden art, you can see how much this property was loved and enjoyed. 

 

We wrote a very strong offer just a bit under the asking price with a 20% down payment and $25,000 to be immediately deposited to escrow, (despite it being a short sale), no requested termite report or clearance and no warranties.  However, this was a hot property, and I was nervous that despite our offer, there would be a bidding war with above asking price offers. 

 

In the cover page to their offer I made the case for my buyer.  I shared that my buyers truly loved the property and would like to adopt the Koi, with the seller’s permission and guidance for keeping them healthy.  I also mentioned that the buyer’s son was on the high school varsity golf team and was already planning a great pool/golf party for the team.  I shared their desire to cherish the home and share it with their children and grandchildren as their “forever” home.

 

The listing agent read the cover page of my offer to the sellers, and that did the trick!  They accepted our offer over other higher offers because the sellers felt that not only would my buyers truly love the home that they had put so much work into, but they believed that because they had expressed such strong feelings about the property my buyers were more likely to wait out the short sale process (with 2 loans), than the other potential buyers.  My friend of course is thrilled that I made it happen J

 

What I was reminded:  Home buying and selling is still largely an emotional decision and letting the love shine through just might earn you your next accepted offer!

 

Marti Kilby Realtor

Posted by

Your Personal San Diego County Real Estate Consultant

                                                          619-846-9249

www.martikilby.com

http://insidesandiegoshortsales.com

Your Home. Our Mission.

       

 

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Rainmaker
1,268,533
Wayne and Jean Marie Zuhl
Samsel & Associates - Clark, NJ
The Last Names You'll Ever Need in Real Estate

It's relatively uncommon here in NJ to include such a cover letter in an offer, but I can see why it would work! Congrats on the sale!

Mar 12, 2012 01:11 AM #1
Rainmaker
177,562
Erv Fleishman
Realty Associates - Boca Raton, FL
Luxury Prop Specialist Realty Associates

That was a very Koi strategy.

How can you be confident that they will not regret the absence of the termite inspections.

Mar 12, 2012 01:27 AM #2
Rainmaker
291,030
Marti Steele Kilby, CRS
Steele Group Realty - La Mesa, CA
Broker/Owner, San Diego, CA

Thanks Wayne and Jean!

Ha!  Pretty funny Erv....I didn't see that one coming!  And we will do a termite inspection, we just won't make it a condition of the sale.  My buyers are prepared to pay for repairs if necessary.  

Mar 12, 2012 01:43 AM #3
Rainmaker
46,898
Mary Borth
Bloomington-Normal, IL
LuxeHomesBN.com

Great story. I love when everything comes together like that.

Mar 12, 2012 01:50 AM #4
Ambassador
3,050,450
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

I've definitely done the personal letter thing, making a case for buyers who were in a multiple offer situation.  As a Short Sale Listing Agent, that deposit would have spoken to me BIG TIME.   

Mar 12, 2012 02:27 AM #5
Rainmaker
319,900
Randi Brammer
Randi Brammer, Acctg. - Hinckley, MN
Accountant & Tax Preparer

In my years as an agent I had several where we did not have the high price but still got the deal

Mar 12, 2012 02:45 AM #6
Rainmaker
291,030
Marti Steele Kilby, CRS
Steele Group Realty - La Mesa, CA
Broker/Owner, San Diego, CA

Me too Mary!  So often we deal with disappointment, it's great when it all works out!

Chris Ann - I've found that having the buyer make a deposit right away on a short sale really helps find a buyer who is serious and willing to stick it out through the approval process.

Good for you Randi!

Mar 12, 2012 03:56 AM #7
Ambassador
1,153,438
Bryan Robertson
Intero Real Estate - Los Altos, CA
Broker, Author, Speaker

Sometimes that's exactly what it takes - just an appreciation for the property and the right words.  I've done that for clients and myself personally.

 

FEATURED IN BANANATUDE!

 

Mar 12, 2012 04:13 AM #8
Rainmaker
291,030
Marti Steele Kilby, CRS
Steele Group Realty - La Mesa, CA
Broker/Owner, San Diego, CA

Thanks for the feature Bryan!

Mar 12, 2012 04:32 AM #9
Rainmaker
340,824
Blatt + Cutino
Keller Williams Coastal Estates - Monterey, CA
Broker-Associate 831/206-8070*Call today*

Part of my business practice is to always include a letter on behalf of the buyers...I think it is a great idea that makes it so much more personal and caring which is often missed in this business.

Mar 13, 2012 04:32 AM #10
Rainmaker
291,030
Marti Steele Kilby, CRS
Steele Group Realty - La Mesa, CA
Broker/Owner, San Diego, CA

I totally agree Angelica!

Mar 13, 2012 07:27 AM #11
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Rainmaker
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Marti Steele Kilby, CRS

Broker/Owner, San Diego, CA
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