I'm really excited to have just listed this beautiful, modern home on stunning waterfront acreage; completed in 2011 after years of careful contemplation by an architect/owner creating for himself. The site and home feature spectacular views over San Juan Channel, Cattle Point Lighthouse, and the Strait of Juan de Fuca to the Olympic Mountains. The home's orientation provides sunsets year-round and the glowing sky of Victoria at night on one side; private, forested views on the other. The land is a 5+ acre level wooded parcel with freshwater pond and peaceful trails. Approximately 230’ of waterfront. Serenity.
Listed at $3,650,000
More information here.
All the best,
- Patience before listing
- 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/
I was recently asked by a buyer friend/client about whether the owner of an un-built lot that interests him would consider seller financing. Here are some things to consider:
-most banks don't offer land loans. It makes sense when you consider risk from their perspective. Unimproved land (lots) are more risky because without homes on them, they are far less liquid than properties with homes on them (improved).
-smaller local banks are more likely too; they "know" what they are lending on better than the bigger guys.
-most sellers want to sell because they want a lump-sum payment in order to buy something else, fund retirement, etc. While there are some exceptions – people who don't know where they would put cash if they get it because they don't want to buy more real estate and don't like stocks/bonds – most sellers turn to seller financing as a 2nd option. That is, if they can at least get someone to pay them a down payment and then monthly payments, they'll be getting some value out of their asset, but…they'd rather avoid the hassle and get the money quickly.
-so, if they think you can get approved by a lender, they will prefer that.
-and if they think you can't get approved by a lender, they will consider you a higher than normal risk, and will want to charge you more for the loan (higher rate).
-so, most buyers who are able to get loans end up doing so.
-call with questions!
Terry and Nancy Beckham came to me in November with a great studio condominium to sell at The Concord. The home was perfectly tuned (staged!) and ready to market. We held the listing until a few days after Thanksgiving, and then hit the market. Just over two weeks later, the first offer came…and one day later the second arrived. We were able to use the strength of the second offer to keep the first position buyer on-track with an all cash, end-of-year closing. Everyone stayed focused as title policy confusion arose and was handled by the sellers, title, and escrow.