Dreams, Backup Offers Can Come True

Dreams, Backup Offers Can Come True

Dreams, Backup Offers Can Come True.  Just before heading out of town for a Little Trip to the Ocean, some of my online marketing paid off.  I received an email from someone who had read my posts and appreciated what I had to offer. 

She was anxious and desperate; the home she loved and had been under contract on was now under contract with another buyer.  After months of looking, learning and knowing the market a house had appeared that met her very specific criteria.  It was in a great location, quiet yet very convenient. It was near her work and preferred shopping and across from a nature reserve. 

This first time buyer was anxious to be affirmed, so she brought some “friends” by to see it.  “Friends” have the best intentions, but usually lack the market knowledge that the shopper and their agents have. 

“Why did you buy there?”  “Why did you pick that style?”  “Why did you pay that much?”  All thoughts that were again, well intentioned but uniformed and lacking from the buyer’s months of market observation and touring homes.  Being a first time buyer, it’s easy to second guess yourself and be influenced by these voices. 

Thinking she’d made a mistake, she rescinded her offer.  Another buyer jumped right in and now the home she selected after months of work was out of reach, or so she thought.  Her agent wasn’t returning her calls or emails and soon she realized she had listened to the wrong voices.  She wanted that house.

After reading several of my posts, and apparently liking what she was reading, she reached out to me.  “Is there anything I can do?”  She asked.  “Have your agent prepare a backup offer, there is no guarantee, but if something happens you are next in line."  “He’s not returning my calls or emails; he’s left the country on a trip.  Can you write the offer?”

After discussing agency with her, and confirming the she had not signed an exclusive buyer’s agreement, we went over the offer she wanted to make.  With her direction I wrote the offer from a beach front condo while enjoying the storms surging over the ocean.  The offer was sent for her electronic signature, then forwarded to the Seller’s agent.

The backup offer was signed and returned, but the seller offered little hope that we’d be successful.  The other buyer had a huge down payment and was on track to close. 

When I returned, some other homes came on the market.  I showed her the new listings and discovered she has very specific tastes and needs.  I privately wondered if I would find anything to suit her.  Then, when I least expected it, early one morning my phone goes “Ping” signaling a new email has arrived.  It was from the Sellers, the other offer has fallen through and we are back on!

My buyer is very happy, and so am I.  In a market with low inventory, multiple offers and picky buyers, dreams, backup offers can come true, but you have to write them.