How are we going to sell THAT!?!?

Today, I’m helping a new friend prepare to close a property that needed IMMEDIATE attention, according to her.  This is how it all came together...............

Last Wednesday I got a call from a duplex owner in Florence, AL expressing interest in selling her property.  We spoke of the services that my company, Bobo Real Estate, offers but she wasn’t interested in my assistance in selling it for her.  She wanted to know if I would be interested in buying it.  I told her that I’d like to see the property so we arranged to met the next day, Thursday, and preview the duplex.  The duplex was nice but there were some cracks around the crawl space which told me there might be some foundation issues.  Later that evening we agreed on a price with some inspection contingencies and agreed to close on the property the following Wednesday.  

She was SO EXCITED that she didn’t have to worry with this place anymore.  She told me how big of a pain in the neck this place had been and at her age she didn’t need the worry anymore.  After leaving, I immediately started calling to order what needed to be done before closing like termite inspection, title search/insurance, inspection, etc.  

The termite inspector has the inspection scheduled for Friday morning.  Later Friday evening I get a very urgent message from the inspector letting me know they need to speak with me immediately.  Expecting termites, I return their call.  The inspector tells me that not termite infestation is present but we have MOLD and MOISTURE issues in the crawl space and that it’s going to cost $1600 to rip the old insulation out, spray the mold and lay down a new 4 mil poly to replace the old.  This would get rid of the mold but still wouldn’t guarantee it’s return nor would it cover the cost of the insulations replacement.  The seller calls, after speaking with the termite company, very worried that the deal will fall through.  Having seen these issues before I felt comfortable moving forward with the sale and assured her there was nothing to worry about. 

Saturday morning I met a foundation specialist on the property to make certain I wasn’t getting in over my head in foundation repairs.  The inspector quickly notes that the crack are major and starts to work.  After inspection he says it’ll cost around $25,000 to remedy the issues.  WOW!  $25,000 worth of foundation issues?!?!  Really!?!?  Once we left inspection I called the seller to see if I could come by and talk about what we found.  She asked if something was wrong and I said I’d like to speak with her in person about the inspection.  

Later that evening I meet with the seller to let her know that I was no longer interested in buying the property but that I felt like I could find a buyer for her property, even with the existing issues.  She immediately started crying!  What do I do?  After long reassurance that everything would be okay, she still wants me to take the property.  “Make me and offer” she says.  “PLEASE, just take it.  I don’t want it” she begs.  There’s NO WAY I’m going to TAKE real estate from anybody, no matter what the issues.  I reassured her not to worry and that I’d work hard to find her a buyer.  She eventually agrees and said “What are you waiting for?  Pick up your phone”.

So here we are today and its Tuesday, two days later and we’re getting ready to close tomorrow morning.  We FOUND a BUYER and she didn’t get ripped off!  Of course, we disclosed the MAJOR issues and still FOUND a BUYER!  I felt terrible for this lady Saturday evening.  She felt like she was cornered by her own property with no way out.  I know that tomorrow morning is going to be a GREAT RELIEF for her.  As she said “A huge burden has been lifted off my shoulders”.

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If you're considering selling your home give us a call and we'll talk about all the ways we can help you get what you need in the sale of your home without shutting this door of opportunity. Bobo Real Estate Company has been helping buyers and sellers in the Florence, AL area since the 1950s. Whether buying or selling, call us! It doesn't cost it pays!

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