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I’ve got a great story to share with you today. You might not believe it, but just like all my other stories, this one is completely true. Here’s what happened.
A while ago, an older couple I knew who told me they were never going to move actually decided to move. They had found a home in Arizona that was listed at $117,000 and they wanted to jump on it right away. They wanted to sell their current home, and asked if they could expect to get at least that from the sale.
I told them yes, the good news was that their home was worth much more than $117,000. Their home’s real value was more in the $350,000 range, which I informed them of. Their response threw me for a loop. They told me, “Let’s just list the home at $117,000 so we can sell it quick and get the new home purchased.”
Usually, I’m in the position of convincing someone to be realistic on their price because it was too high. In this case, it was the opposite. I had to convince them to increase their price. I ended up getting them to agree to sell at $335,000.
They almost ruined things because of a $200 repair.
Once we got them on the market at that price, the home went under contract that day. Then another interesting thing happened. During escrow, the buyer asked my sellers to cover a $200 repair. Usually, these things are all but a formality. In this case, the seller refused to fix it. They were willing to risk losing their dream home over a measly $200 repair, even though they were willing to lose $200,000 by underpricing it.
Fortunately, things worked out in the end for both the home buyer and seller. The lovely couple was able to move to Arizona, and they are living happily ever after.
I hope you enjoyed this story. If you have any questions for me or any interest in buying or selling a home in San Diego, give me a call or send me an email. I would love to hear from you.