Paula poses a question that we all face from time to time. An uncooperative agent on the other side of the transaction makes the trip to the closing table difficult or even impossible. On occasion, I have been that agent. Homes with major defects with lender owners who are inflexible, for example. What do you think? Paula disabled comments on her initial post, maybe we can talk about it here?
There is nothing better than conducting a transaction with a great agent on the other side. There is nothing worse than not having it. It is the only time in my career when I feel helpless. I can fire clients. Can I fire the agent on the other side the the transaction?
I had a transaction fall through today that should have been "easy". My client, the buyer offered ... 2% over list price on an $84,000 cabin. He wanted owner finance with good terms, pay off in 3 years or when his deal on the dealership closed. He offered 3 years worth of w-2's and 1099s.
Finally, the buyer even agreed that the in the note for seller financing he would deed in lieu the property back to the owner if he was 1 day over 30 days in default of the payment. He put together a profit and loss statement which showed 8000 profit each month.
The only things he could not get the seller was his credit report and actual taxes because his attorney was afraid it would tain the dealership purchase. (My buyer is buying a car dealership so cannot provide a credit report but could give the rest.) The home had been on the market over 400 days.
Alas, we had an agent working for the seller who would not call me back as we negotiated. He missed all the deadlines and kept telling me the same thing..the sellers wanted the credit report. He had never done an owner finance, never asked for advice and ..... blah blah blah. (I almost NEVER whine. I am already getting tired of myself)
Here is my angst. I have been a realtor 12 years and have done dozens of owner finance without a hitch. However, I could not figure out a way to advocate for my client who has enough money and leverage to buy a national dealership.
My client's wife is devastated and my client is scratching his head wondering what happened.
What did I miss? Ideas?
The Big Question....what do you do when you wince when you see who is on the other side of the transaction?
Specializing in homes and land in the Colorado river towns of Salida, Howard, Coaldale, Cotopaxi, Nathrop, Poncha Springs and Buena Vista, I am here to work for you as you buy or sell your home or land.
It is not just about buying in this area.. it is a statement about lifestyle. Our residents generally are active people, whether it involves horses (my passion), white water rafting, cross county or downhill skiing, hiking, mountain biking, or Contra dancing. Some prefer quiet sunrises, strolls through town and time in one of our fabulous coffee shops or restaurants. Whatever the style, folks appreciate this area for it’s charm and beauty.
Want to get more information on available homes or condos in the Central Colorado River Valleys? Go to SalidaColoradoHomesandLand to search the area listings by town, zip code or county.
Looking for Paula Bradfield? Let me Google That for You!
Paula Bradfield, PhD, GRI, EPro, CIAS, CDPE
Keller Williams Colorado Mountain Real Estate Group
245 E Highway 50, Salida CO 81201 (office 719.539.2512)
Cell: 719.221.6108. Email: Paula@PaulaBradfield.com
Our Colorado Mountain river communities: A Snapshot
Salida: As quoted in the 2004 edition of Outside Magazine, Salida is “Sweetly unpretentious” as they ranked it as one of their “Dream Towns and Adventure Hideouts.” You might agree. Our community of 6,500 (9700 counting the surrounding homes) is surrounded by Forest Service and BLM lands, a haven for bicyclists, campers, folks who love to fish, hikers, skiers, nature photographers and hunters. It is a lovely natural setting with several converging mountain ranges (We have15 peaks surrounding us that reach over 14,000 feet in elevation).
We are know for being the Banana Belt of Colorado and this area is known as one of the Colorado River Towns. The Arkansas River winds its way through the Arkansas Valley, through downtown Salida and more; creating an invitation to rafters, kayakers, fishers, and “beach lovers” alike.
Salida’s charming downtown area had the largest historical downtown district in Colorado. We have blocks and blocks of Victorian and other historic buildings. Because so many folks also come here to play, we have many of the advantages of a smaller resort town: great restaurants, 22 art galleries, fabulous boutiques, outdoor sportswear stores, and an array of shops for music, kitchen, sports, natural foods, children, books, knitters and quilters.
Poncha Springs: Poncha Springs is a small Salida “bedroom community” (population of 474 but a few thousand when you consider the outlying neighborhoods and ranches). Because it was surrounded by hot springs (99 nearby) and had a strong early influence of Spanish culture, the community became known as Poncho (meaning cape and warmth) Springs. In 1924, the town officially became Poncha Springs.
Howard: Howard, part of what is known as Pleasant Valley, is nestled along the Arkansas River as it snakes its way from Salida to Canon City. Some of the early settlers in the area were prospectors (some still pan for gold in the tributaries of the Arkansas). Besides gold and silver, rhyolite, travertine and limestone were sought after. Just a bit north of Howard is a tiny community of Wellesville where the locals used to soak on their time off in the natural hot pools. The area became more populated when the Rio Grande Railroad came through. Today, Howard is a charming, quiet ranch community and “bedroom Community” for folks who work in Salida. Many avid fly fishing folks have 2nd homes here. I love this valley.
Coaldale: Coaldale, a tiny community just SE of Howard opens up into a lovely, meadow-like area with many horse properties, ranches and folks who like the open meadows and surrounding mountains. It got it’s name from being called Charcoal Valley. In the early days, the Pinon Pines were burnt in beehive kilns to turn them into coals used for the silver smelters in Leadville Co and Pueblo CO. Some of the early kilns can still be seen. Every valley in coaldale has a creek in it and with just a few minutes drive to the west, you can be on national forest trails. Absolutely lovely community.
Cotopaxi: Cotopaxi, named after an Ecuadorian Volcano, grew from being a “whistle stop” for the Rio Grande railroad. Now it is known for world class white water rafting and fly fishing. Folks who live around here can commute for work to either Canon City, further east or back to Salida..it is almost midway between the two. Cotopaxi is a great location for vacation/second home or your primary residence if you don’t mind the commute or can work from home.
Nathrop: Nathrop, a quiet community north of Salida has always been known as the access point to Mount Princeton Hot Springs. To this day folks come to soak in the restorative waters. It is my personal favorite in hot springs because the 104 degree water not only comes into the soaking and lap pools but comes out in Chalk Creek, running alongside the pools. I can spend all day there with a book, adjusting the rocks so that the water is neither hot nor cold. Lovely. Many folks choose to live in the area because of access to the hot springs and national forest.
Buena Vista: Buena Vista was named after it’s stunning 360 degree views. Folks originally settled here because of the gold mining. Later, families began farming and ranching as they discovered the good soil in the area. The stagecoach and subsequent railroad brought more families to the area. With a population of about 2500 people, the town remains quiet and gracious. It is known as the best kept secret place to stay for folks skiing at the premier resorts near denver and aspen…because the town is so friendly and hotel rates are inexpensive. It is a few miles from Cottonwood Creek Hot Springs and Mt. Princeton.
Crestone: Unique, magical and beautiful are words that tumble out of my mouth when I think of Crestone. The tiny town proper is 150 and the surrounding area is no more than 1500 when everyone is home. The magic of Crestone, however is its history. Early on, a rancher was instructed to bequeath parcels of his ranch to spiritual groups around the world which he did. It is now known for having the most diverse spiritual community in the world. Spiritual seekers in North America eventually hear about Crestone. And, it generally takes knowing a local or more than one visit for the fullness of the area to emerge…the 5 creeks heading up into the Sangre de Cristos, the temples hidden in the trees, the lovely residents and the “happening”. The local newspaper, the Crestone Eagle, has calendars of event for local happenings that rival a town 10 times it’s size. If you want a sanctuary, Crestone offers just that.