We need to do a Short Sale…well maybe you don’t.

These are some very interesting times in the Seattle Real Estate market.  Properties selling within days, multiple offers, everyone in a panic as to how quickly things are moving, and the E-word…Escalation Clauses.  And of course we still have Short Sales, foreclosure dates looming, and bank owned properties popping up daily.

One of the good stories for me recently was a situation for some clients who contacted me about selling their home as a short sale.  They were very much under the impression that based upon what they owed and where the market had declined for their property, they were destined for a short sale.  Times were tight, and the outlook didn’t look very rosy.

So we met and discussed the short sale process.  However, in reviewing of the market for their home I found that we may have the possibility of utilizing the current market to their advantage and avoiding a short sale on their home.  Our chances of making this happen were akin to Chone Figgins being at the plate with 2 strikes, in the bottom of the 9th with 2 outs, runners on 2nd and 3rd and the Mariners down by 1 run.

Our best case scenario was to get a 2-run single to the gap and pull out a victory from the jaws of defeat.  C’mon Chone Figgins!

We decided to forge through with listing the home at a value that I believed was doable based upon market trends, and would at best allow the seller to break even.  What transpired was more than a .197 hitter could imagine.  Not only did we get an offer within the 1st 24 hours of being on the market; we received another offer to begin the competition.  The ensuing bidding pushed the price to $10,000 above list price…can we say:

Fly Away! Chone Figgins with a 2 out, 2 strike, 3-run homer to win the game…MY OH MY!

The buyers closed within a short amount of time and lo and behold, my clients were walking away with quite a large surprise at closing in their pocket.

On a side note, this all occurred as Chone Figgins got off to a great start with the Mariners this April right around the time we needed his clutch hit to get our sale completed.  As of this blog’s entry, he is now relegated to the bench due to his batting slump.  Good thing there is such thing as “timely hitting.”

Speak Your Mind

*

Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with this symbol: provided by Northwest Multiple Listing Service, 2017. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. © 2017 NWMLS. All rights are reserved.
Disclaimer: The information contained in this listing has not been verified by NWG Real Estate and should be verified by the buyer.
DMCA Notice

This IDX solution is (c) Diverse Solutions 2017.