House #19: First Contract

December 20, 2010 · 4 comments

I mentioned the other day that we received our first offer on The Flood House…as of this morning, we’ve come to full agreement with the Buyer and the house is officially under contract…

The agent representing the buyer actually did a decent job of trying to negotiate on behalf of her client, but we knew that the buyer was set on our property (she filled out the contract while still in the house) and with several good showings this weekend, the buyer knew that there was a decent shot of competing offers if she didn’t get the house under contract quickly.

Ultimately, we were able to get the house under contract for $97,500 — $2500 under list price. When we originally put it on the market, I thought there was a decent shot we’d get a full-price offer, but given that the property has only been listed for two weeks, I’m not complaining. We also agreed to paying $3000 in closing costs, get the buyer a home warranty and throw in a couple of the staging items.

The Buyer has 12 days for due diligence, 20 days for her financing contingency and we’re scheduled to close on January 21.

4 responses to “House #19: First Contract”

  1. Mark in Fl says:

    That was fast, nice work. I met my latest buyer and asked him what was the deciding factor for choosing our house to purchase. The answer was that everything was in perfect “turn key” condition, just like your flood house.

    He also liked all the stainless appliances since he is a first timer and doesn’t have much cash.

    Thanks for that tip.

  2. Mark in Fl says:

    Merry Christmas

  3. J Scott says:

    Mark –

    Thanks! And Merry Christmas, Happy Holidays and Happy New Year to all my readers…I appreciate you all!

  4. thank you for all the great information, really appreciate it.

Leave a Reply

Your email address will not be published. Required fields are marked *

Sign up for our Newsletter and get immediate access to our FREE 150+ Page eBook on New Construction, plus all of our business tools: Single-Family and Multi-Family Business Plans, Rehabbing and Buy-and-Hold Spreadsheets, Contract Templates, and more!
We respect your privacy. No Spam...EVER!