Sweet words to utter, "You're in contract...the sellers accepted your offer."
Sweet words for buyers to hear, "You're in contract...the sellers accepted your offer."
That's how the phone call last night began. My clients were victorious, and are in contract to purchase a home that's perfect for them, located in Mountain View, California.
The 3 days leading to that point were busy:
- Sunday, seeing the property together prior to the open house
- Monday, thoroughly reading all the disclosures and reports provided by the sellers; discussing the structure of the offer - how much over asking made sense (that's the market here, 10%-15% over on this type of property is typical today), how to keep contingencies to a minimum
- Tuesday, I did my Agent's Visual Inspection and discovered a material fact that hadn't been mentioned before. More discussions and decisions made by the buyers on how to handle that
- Wednesday morning the buyers had learned the property inspector could come to the house early morning on Friday, so the offer was revised to include a 2-day property inspection contingency. Docusign was called into play again to get signatures on everything and I flew out the door to various meetings
- Wednesday 2:00 PM I presented the offer to the listing agent; it was a fine offer, closing in 8 days, giving a free rent-back to the sellers for about 10 weeks.
- Wednesday 5:00 PM - listing agent called, one of the other offers was very similar - did my clients want to increase their (already substantial) price? A call to my clients and discussion; their answer, and a a good one, was "no." (I could hear a teary voice in the background--the stress is horrible on buyers.)
- Wednesday 5:30 PM - buyers called me asking if we should request a counter offer. My gut told me 'no.' Buyers didn't want to pay more, and we'd be sending a signal to the seller to bump the price up. Buyer agreed. We'd take our chances which were 50/50.
- Wednesday, 7:30 PM - listing agent called to say "You're in contract....the sellers accepted your offer."
Wednesday, 7:35 PM - my call to the buyers,"You're in contract....the sellers accepted your offer." The emotions I heard on this call were no less intense, but the voices were teary with relief.
Buying a home in the Silicon Valley, as in San Francisco and other markets where inventory is low, is an emotional journey, one we walk with our buyers.