Sold before I listed it on the MLS to my private network of buyers
Record High Sale $30,000 over recent sales
of this floorplan selling between $385,000 - $398,000.00
An Exquisite Redesign which could grace the pages of Luxury Retreat
After 54 days on the market with no offers, The Lanes knew they needed to make a change. They told me they both looked at each other one morning and realized they had made a mistake and called me to list their home.
They had given me an extended listing date to the end of this year since they felt their chances of selling before they went home to their summer home was unlikely at the price and terms they needed to walk away with since we only had 4 weeks of the high selling season with the first 1 week getting the marketing together to bring the home on the market.
- The condo market was soft with resales for this floor plan with water views averaging $385,000 - $390,000 with a record high sale of $398,000 in the same building with similar upgrades and highly desired premium features, sold by me off the market during the slow summer season in 2018 off-market.
- The property needed to be sold furnished - $40,000 in furnishings
- No resales to support the previous list price of $445,000. or walk away price of $430,000.00
- Possible assessment of $4100.00 for additional land purchase by the community
- The property was over-improved when comparing to recent resales
Working with a buyer who was looking for a harbor-front condo, I brought them to this condo to vet my list price before bringing it on the market as this was a savvy buyer familiar with area market values
Recognizing the value of this property, he made an offer and we put it under contract at $430,000. before I could list it on the MLS, netting the sellers $15,000 more than they told me they wanted to walk away and closed by the end of the high selling season which is what they were hoping for and did not expect.
Appraisal Challenges: There were no recent sales to support this record high sale price.
The appraiser expressed his concern this property might not appraise based on his initial review of resales as this property had a financing contingency by providing detailed knowledge of resales and why those units sold for less. The condo appraised for the purchase price and we were able to move to close