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The First Offer | Entreprelife

The First Offer

House Money piggy Bank

(This is part of the Selling Grandma’s House series. For the rest of the series, click here)

After choosing Brooke as our realtor, every­thing kicked into high gear. Brooke has proven to be an excep­tional realtor. She emailed me the contract imme­di­ately and was patient as I read it over and had my grand­mother sign it. The contract was long (11 pages) but my history as a paralegal helped me sort through all the legal mumbo jumbo and break it down for my grand­mother who was happy with it.

The majors of the contract work like this:

  • Brooke is our only realtor throughout this process.
  • When the house sells, she receives a 6% commission.
  • We can end our contract at any time without penalty.

That last bit was important. If Brooke didn’t deliver, I wanted the freedom to switch realtors.

After dotting the i’s and crossing the t’s, Brooke and I discussed a price. After looking over compa­rable houses in the area, she suggested $50,000 dollars. I looked over the compa­ra­bles she sent me and thought it was a good price, but I wanted to end any nego­ti­a­tions as close to 50,000 as possible so I bumped it up to 53,000. She told me it might detour a few people, but still thought it was a good price.

We got her the key and security code and at that point she listed it.

The First Offer

The listing went up on Thursday February 23rd at 1pm. Our first offer arrived on Saturday February 25th at 6pm.

I was a bit surprised when Brooke called me. I was at dinner with a friend, but he said he didn’t mind so I answered the phone. We shared some pleas­antries before she told me we had an offer.

I braced myself.

What is it?” I asked.

It’s a full offer.” She said laughing, “$53,000 dollars.”

I was speechless.

I expected the house to get offers quickly, but I never imagined someone would offer full price and I never thought our first offer would be full price!

Turns out, the buyer has been burned in the past during nego­ti­a­tions. She puts in a low offer, they start nego­ti­ating a final price when someone comes in with a higher offer and she losses the home. After two or three failures, she decided to stop playing the game and give a full offer for a well-priced home.

God is good, my friends.

My grand­mother was just as excited me. She laughed on the phone, blown away by the quick offer.

How did we get such a good offer?

A Quick Sell

The thanks go entirely to Brooke. She’s a part of re/max and before she was talking up the property to other realtors before she even had the key! By the time the listing went up, a few people were ready to look.

She’s also great at putting up the house quickly. She had it on the MLS (multiple listing services) at 1pm on Thursday and the pictures she took of the house were beautiful and showed the layout well.

In addition, the price we choose was perfect. The house is worth around $53,000. Pricing it at what it is worth made it enticing for a buy that wasn’t looking to play the game any longer.

Other Offers

Since then, we’ve had a few other offers on the home but nothing even close to our asking price. We’ve already accepted this offer and now all we’re waiting for is an inspec­tion and a closing. The whole thing should be done in the next two weeks!

In the next post, I’ll break down our expected expenses and the few surprises that have already started to pop up.

Have you ever sold or bought a house? What’s the fastest you’ve gone from listing/looking to selling/buying?

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7 Responses to “The First Offer”

  1. Jon White February 29, 2012 at 9:39 AM #

    Wow Alex that was quick! It just goes to show you that houses DO sell quickly if they are priced right.

    • Alex February 29, 2012 at 3:17 PM #

      I know! I was blown away!

  2. Mike Luna February 29, 2012 at 10:52 AM #

    For the record, that wasn’t your first offer. I offered you $7 two weeks ago!

    Still, congrats on getting the 2nd offer! I’m glad you were able to get it all put together so quickly and with minimal headaches.

    • Alex February 29, 2012 at 3:17 PM #

      Lol, thanks Mike!

  3. ixnayonthetimmay March 2, 2012 at 2:25 AM #

    Wow. So the process CAN be fairly quick and smooth! Congrat­u­la­tions to you and to your grand­mother, pending the final closing of course.

    • Alex March 2, 2012 at 5:35 PM #

      Thanks Tim!

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