Case Study: 2720 3rd Ave #1008

Key Elements:

  • Patience before listing
  • Staging
  • Avoiding the wrong “buyers”
  • Deal making
  • Knowledge of financing

This deal was _exciting_. Thankfully, the excitement yielded a significant return to the sellers.

The first great move they made was to wait until some work in the building had been completed. We wanted the prospective buyer to experience quality from the moment they walked into the building lobby, so patience as required.

The staging was fantastic; the pieces taken directly out of the sellers current home collection. The photographed beautifully.

With a few days on market, we received one offer (after my open house Saturday) and then another (on Seahawks Super Bowl Sunday). After further vetting of each of those buyers, they dropped out. The Sellers and I were relieved we had not gotten into contract with either only to fall out of contract.

The next weekend, we received another offer, which we countered on Monday. Just after the counter, we received another offer, significantly better than the last. After a bit of nail biting and fast contract work, we were able to withdraw the counter offer and accept the higher offer.

The result: Net Proceeds to the seller that were higher by more than the amount of my commission.

To see this seller's review on Zillow click here: http://u.zillow.com/w59ce/ 

 

Posted on April 16, 2015 at 1:53 pm
Michael Doyle | Category: Buyers, Case Study, Condo Market Update, Sellers

Mosler Lofts (where I live!) Litigation Settled!

I'm super excited to pass on this press release from the Mosler HOA:

The Mosler Lofts Home Owners Association is pleased to announce settlement of the recent litigation between the Mosler Lofts HOA and Belltown Development Partners, developer of Mosler Lofts condominium.

Through the diligent efforts of all parties involved, including the Mosler Lofts Board of Directors (both past and present) represented by Jesse D. Miller and Zachary McIsaac, our legal team from Ashbaugh Beal, and assisted by many experts and investigators, this suit has been brought to closure with a settlement of just under $8.5M. 

The monies from the settlement will allow the Association to proceed with repairs, resolve construction defects, and deliver the quality building Mosler Lofts was intended to be. 

Needless to say, owners at Mosler Lofts are happy with the results of this settlement and look forward to re-focusing on our great community; barbeques and refreshments on the roof top, and neighborly conversations about careers and leisure.

The community is strong. The beautifully designed LEED Silver-certified building still stops tourists and locals alike in their tracks. We will now enjoy a confidence in structure and balance sheet that will carry us happily into the foreseeable future.

Please contact moslerlofts@gmail.com for further inquires.

Posted on May 31, 2013 at 6:49 pm
Michael Doyle | Category: Condo Market Update | Tagged ,