Facing a Real Estate Challenge? Then you are going to not only want to read this post but all the posts tied to an Active Rain Challenge called March to a Solution by Patricia Feager, MBA, CRS, GRI,MRP .
This is my first of three posts describing interesting requests made by Buyers, Sellers, or maybe even another Real Estate sales professional.
The most difficult one I remember today is one where a Buyer loved a home I had listed but they had to have a garage and none existed.
The house sat kitty wampus on the lot but there was plenty of room for a garage.
The problem was that the Buyer could take out a loan to cover the home purchase and even a more expensive home than this one BUT they could not take out a loan for this home and then an additional construction loan for the garage.
They wanted THIS home and they wanted a double garage to go with it. What to do?
There was no way the bank they selected would be flexible with this situation. The only solution was if the Buyer would be willing to build the garage and then adjust their sale price to cover the garage.
This happened in a HOT market. What do you think the Sellers said? Believe it or not they agreed to it, pulling the home off the market and using their own credit to build a double garage.
So why did this work? In this case we had cooperating agents that got along well. Although the Buyers and Sellers did not know each other they had a shared interest and a mutual trust in each other. The Seller knew he would get top dollar for the sale. The Buyers knew they were getting exactly what they wanted. The agents knew they were helping their clients and even getting a slight bump in their commissions due to the higher sales price with the garage included.
Don't you love it when a plan comes together.
Subscribe to CommentsComment