October 28, 2024
When our clients fell in love with a house in Corte Madera, we understood the appeal. But with no inspection reports, almost zero disclosures, and a condition that was… let’s just say “lacking,” it was clear we were either staring down a huge opportunity or opening a can of worms.
The house was listed at $1.6 million. Other buyers had been deterred by the scant information provided by the seller, but we knew how to navigate the situation. After putting on our best negotiator hats, we secured a contract at $1,175,000—a whopping $425,000 less than the seller's initial asking price.
Also in the agreement was a seller credit covering the buyer's agent fee, and a mission-critical 15-day inspection contingency period that provided our clients with 2 leisurely weeks to take a fine tooth comb to the place. The aim: to make sure they were going to end up with a cosmetic fixer, not a tear-down.
After the inspections identified some deferred maintenance—minor issues, but enough to negotiate—we negotiated the price down again - to $1,150,000. The shiny red cherry on top? An additional $25,000 seller credit towards closing costs.
Fast forward to today: Redfin estimates the home is already worth $203K more than when it was purchased in September 2024. Not a bad deal, right? Safe to say, our clients couldn’t be happier with their win-win situation!
Stay up to date on the latest real estate trends.
October 28, 2024
Fast forward to today: Redfin estimates the home is already worth $203K more than when it was purchased in September 2024.
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