Monday, March 2, 2009

House not sold once, twice, but THREE times

A buddy of mine was moving to Phoenix from Minneapolis, selling two houses, getting married, and buying a new house in Phoenix - all within about 2 months. He said that it was the most stressful time in his life. I believe him! Lord do I believe him. My stress level hit a new high on Sunday after having to deal with all of the house crap that has been going on. I am trying to find the words to explain it, but the only thing that I can relate it to is getting your shoelace getting caught in a bike chain and being slammed down crotch first on the support bar. Only then do you fall over in pain and skin your knees.

Overall, I think that things have worked out for the best. I have received three separate offers on the house. The first one fell through due to cold feet on the buyers, the second and third were received within enough proximity of each other that I was able to accept the higher priced third. I know that there are still a few hurdles to jump through, but I think that we are nearing the home stretch. (I think that if I can work in one more sports reference, I may have to start paying royalties to someone.)

So, I know that you are asking yourself, why the long post on just selling a house? I suppose a lot of that is because Paris Hilton hasn’t been her trashy self lately. OR, because I am killing time in the airport. Either way, I'm low on material. But, I feel that it has been dominating my life over the last few weeks. My days have been a 24 hr repeat of the following: Wake up, run, work, eat, eat, eat, lift weights, eat, eat, deal with house shit, sleep. I really wish I could be Jack Bauer sometimes - much more interesting period of 24 hrs. HOWEVER, I will admit that having a lot of activity is MUCH better than having not enough. I suppose that is very similar to “dating” girls while you are in high school. Girls are SOOO expensive and a pain to deal with, but you certainly don’t want to be the guy that has NO girls. That would be bad.

To give you an idea of what I have been dealing with over the last 4-5 days, here is a step by step of all of the offers. This is a bit long and a lot detailed, so feel free to skip to the bottom where I have posted some pictures of the house in sell ready condition!!

2/11: House listed on the market
…..: Over the past three weeks we’ve had over 25 showings were scheduled not including 1 open house
2/25: Offer of 93% of asking is submitted with myself paying $2500 in closing.
2/25: I submit a counter offer of 96% of asking is submitted with myself paying no closing.
2/25: Buyer’s realtor’s mother passes away.
2/26: Buyer counter offer of 93% of asking is resubmitted with myself paying no closing.
2/27: No word from the buyers
2/28: Received word from the 1st buyer that they are no longer interested (cold feet)

2/28: 2nd offer received for 95% of asking with myself paying $3000 in closing. Price includes theatre room
2/28: I submit a counter offer of 96% of asking is submitted with myself paying no closing. Price includes projector and screen, does not include speakers.
3/1: Adam’s stress level hits an all time high!
3/1: Buyer submits a counter offer of 95% of asking with myself paying $2000 (maybe, they are starting to blend together).
3/1: Buyer decides that they DO want the speakers afterall, same offer as above, only including all of the theatre room.

3/1: Open house in which we had two very serious buyers come through – one of which was a second showing.
3/1: 3rd offer received for 100% of asking with myself paying $5000 in closing. Price includes the theatre room.
3/1: Counter offer submitted of full price with myself paying $4000 in closing. Price includes the theatre room.
3/1: Counter offer accepted! Third time is a charm. Now, on to inspections....


Marcy said...

I like the green in the dining room! Very nice!

Anyhoo, I'm sorry about all the stress. I can ONLY imagine. Oy, oy, oy.

Pat said...

when you are negotiating you have to ask what's your 'walk away' position. If you don't get this buyer, what's the alternative. Three buyers in such a short time means that you'll just have to wait a bit longer for buyer #4. So, really the stress is much less than a seller that has a 'walk away' of foreclosure or another 3 months on the market. Eventually, you get a buyer that has a 'walk away' that they can't settle for and they end up meeting your terms no matter the cost. Sounds like you did a good job with buyer #3. Good luck with the inspections.

Michelle said...

I will buy your house!!!

But i need you as my runner nanny! Remember???

Adam said...

So this is your wife reading and noticing that you mentioned girls being a pain in the butt? I hope those were your feelings in high school. :) Lord knows I'm not a pain in the butt!! :)

Kelly said...

Congrats on all the offers!! The stress will end soon...

Ulyana said...

I'm jealous of your house!
Good luck!

Home Away said...

when are the inspections scheduled for?