We “listed” three houses for sale last week: The Retail House, The Divorce House and The Power House. When I say “listed,” we actually just mailed a flyer to a bunch of agents we know who represent large-scale cash investors and hedge funds who buy in Atlanta. Over the next couple days, we received a couple dozen offers across all three properties. Not a single offer came from a buyer who actually saw any of the properties… 🙂
Ultimately, we accepted all-cash offers The Retail House and The Divorce House from the same buyer, who agreed to just a single day of due diligence and closing in 7 days. He completed his due diligence yesterday, and we’re moving forward to closing on those two properties.
The reason we had considered selling The Power House is that we haven’t rented it yet (haven’t tried too hard) and wanted to see if we could get a buyer at a price that would make it worth our while to sell it instead of hold it as a long-term rental. We didn’t receive any offers that intrigued us enough to sell it (yet), so for now we’re going to continue to hold it. We may list it on the MLS just to see if we can get any additional interest. Though I’m happy to hold it if we don’t.
We close on The Retail House and The Divorce House at the end of this week, and we’re also scheduled to close on The Rent-Back House at the end of the week as well…I’ll post final analysis numbers when the houses are sold…