An agent requested an online appointment for one of my listings. I called to tell him (even though it was in the remarks) that this was a cash only property.
The reason...it won’t appraise. He laughed asking why I would “waste” my time taking this overpriced listing. He figured the seller was BSC. My response if anyone is
'bat s*** crazy'...it’s me!
It’s not just about bricks and sticks. These are people I care about. This is a situation with a financial loss, a long time illness and the sellers are in their eighties.
The mortgage payments are up to date.
Their advisors suggested: walk away, let the bank take it or do a short sale.
All of this would cause a lot of stress for these classic clients including time-consuming calls and paperwork. The end results: there would not be a penny to help with their current situation.
In steps "Bat Spit Crazy" me.
I know the family. I sold their previous home and sold them this property 12 years ago. I know their history. Now it is time to help.
My suggestion: put the condo on the market at a price high enough to clear their debt and still have a bit left over.
Request buyers to submit a no financing contingency or CASH. It does not comp..no sales at this price.
BUT... it is THE only three bedroom condo with no steps in the area.
Baltimore County has a shortage and a waiting list for large accessible condos.
There have been calls from agents, there have been buyer calls, there have been radio calls, there have been internet calls.
For the right buyer, this could be the right place. I think it will sell even though others may think I am BSC.