Keeping a sale together....it's hard being a Seller today

Even though the current real estate market on the San Francisco Peninsula and the Silicon Valley strongly favors sellers, it's still hard being a Seller. It is easy to understand how it's hard being a buyer when multple offer abound -- the seller's difficulty is hidden from sight a bit deeper.

A current transaction of mine shows the difficulties a seller can face when selling a home:

  • 5 offers received on a nice 3-bedroom, 2-bath home in a highly desired Silicon Valley town
  • Offer signed with a buyer with strong financial qualifications
  • Contract canceled when bank froze buyer's account, when he went to transfer funds into escrow (no fault of the buyer--has to do with international money transfers and rule changes made retroactively)
  • home back on the market--one good offer received the next day, but seller thought another weekend of open houses might be a good idea
  • Offer made two days earlier signed; in contract again; no contingencies of any kind
  • Neighbor comes to complain about a plant issue (he hadn't mentioned anything, ever, before)
  • New disclosure had to be made to buyer; buyer wants to keep the disputed plants
  • A solution is being sought to keep the transaction together, keep the buyer feeling comfortable about moving into the neighborhood; mollify the neighbor.
  • The upshot; we will find a solution, but it will cost the seller and others $$$.

So, even though the market favors Sellers, it's still hard to be a seller in the Silicon Valley and San Francisco Peninsula.

 

 

--- Come for a visit; Stay for a lifetime!

Lottie Kendall, Realtor®

Today | Sotheby's International Realty

San Carlos, California, 94070

CA BRE#01215160; 650-465-4547

Lottie@LottieKendall.com;

www.LottieKendall.com

www.SFCondosForMe.com

 

 

Comment balloon 7 commentsLottie Kendall • September 28 2013 07:54PM
Keeping a sale together… it's hard being a Seller today
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