This crazy world of real estate.. always full of surprises.
You may have seen my blog from a few days ago where I listed a property on Tuesday morning, and had it sold at 7:30 that night...
The next day an agent showed the condo despite the fact that it was sold conditionally. (I still allow showings until it is sold firm) She called me and told me her clients LOVED the place... and asked me how solid the deal was.
At that point I did not see any problems arising, as the Buyer's agent told me her clients had been pre-aproved and were solid financially and had a good downpayment. The Waiver for this Condition was due last night.
I suggested the second agent submit a back up offer if her clients really loved the place, (conditional upon the first offer becoming null and voice and a Mutual Release being signed by all parties), in the event this offer fell through.. we never know what can happen.
Last night at 5:00 p.m. the second agent registered her offer with my office.
I called the first agent to ask how the financing was coming along and if they were going to remove the condtion. She told me they ran into a bump in the road, something that was unbeknownst to the Buyers. She felt she had to submit a Mutual Release as they could not meet the Condition in time.
I received the Mutual Release at 7:30 p.m.
I was sitting at the table with my Seller again at 8:30 last night and presenting another offer which was accepeted.. and this one was for $1,000 more than the first.
The young couple were over the moon happy. They had just bought their first home, are engaged and getting married in July...
I was still sad for the other couple as they were extremely disappointed... but I'm a firm believe when one door closes, another opens, and I'm sure they will get things sorted out and will find another home they will love equally as well, or more.