Gwen Fowler Real Estate, Inc.®

Selling a House that closed less than a year ago

Posted By Gwen Fowler @ Apr 21st 2024 10:07am In: 60 Second Insight

Hey there! Last week, I had a real estate experience that made me pause and reflect. It was a rollercoaster ride, but we made it happen against all odds. Let me share the journey with you.

So, picture this: my company represented the buyers in a house hunt. We embarked on a whirlwind tour, checking out more than 20 homes over two days! We aimed to snag a place and seal the deal by mid-April, aligning perfectly with the buyer's retirement plans. They were all set to put down 25% plus closing costs, and we had a tight deadline of three days to get them under contract.

Starting in early March, we hit the road, scouting neighborhoods and houses that matched their wish list. We covered almost 1,000 miles in the first two weeks, meticulously planning our routes and fine-tuning their preferences. Each night, we'd send them listings along with our upbeat thoughts—after all, we weren't just buying but facilitating their dream home journey.

On March 11th, the buyers joined us at the office, and our adventure began. By the end of the first day, we narrowed it down to five top contenders and spotted three new listings that popped up while we were out. Day two was crunch time. We revisited the favorites, including a model home that ticked most boxes despite a few size and yard concerns. We swiftly drafted an offer with an 11 am deadline, but getting the other agent's attention took some persistence.

SoldbyGwen 42B DendyST Pelzer

The following day, there was still no response. After some back-and-forth, it became clear that our offer needed a bump. Despite time constraints, negotiations dragged on until we hit a stalemate. Faced with the ticking clock, we returned to their second choice—a newer construction with charming details and a spacious lot. The seller had spruced up since our last visit, making it even more appealing.

With the clock ticking, we made a bold move. We penned an offer $20,000 below the initial choice and sent it off. The other agent acknowledged receipt but cited scheduling conflicts, delaying our counteroffer until the next day. Finally, they accepted with a few tweaks, and we were officially under contract for the one-year-old gem.

But just when we thought smooth sailing was ahead, we hit a snag. The appraisal returned $16,000 lower than the contract price, throwing a wrench into our plans. After some tough decisions and negotiations, we reached a compromise, sticking with the appraised value and adjusting accordingly. The buyer was paying my commission per our Buyer's Broker Agreement.

Ultimately, the deal closed, but not without some valuable lessons learned. We discovered the power of local comps in appraisals, the importance of transparent communication about loan assumptions, and the art of negotiation in the real estate world.

With that, we're on to the next adventure, ready to tackle whatever comes our way. Here's to more showings, more sales, and more successful paychecks

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Comments (1)

Deborah Braswell says...
on 04/22/24

Gwen is an amazing realtor… and I have have had contact with many from Georgia to South Carolina to Florida she by far is the hardest working realtor I know…
My story is difficult and personal and about loss…
I didn’t know Gwen Fowler… my brother had purchased a home in Westminster and couldn’t decide if he wanted to stay and remodel or sell and leave so he contacted Gwen Fowler… he decided to stay and he and his friend gutted the cottage only to pass away a month later… then four months later my mom passed away… Gwen had a buyer but found out through the title company it wasn’t going to get title insurance… keys just say she has been there every step as a realtor and became a great friend….
We finally got it worked out after 2 years and a lot of emails later… you will not find a harder working… straight shooter and will be upfront and honest…
She still has 2 vacant lots she is working to sell but let’s just say when you go with Gwen Fowler Realty you get way more than you ever expect… Trust… loyalty and as Allstate says “ You are in good hands with her””
Love you Gwen you are the best!

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