By Julia Robertson, June 2, 2020
One week before closing(also the week COVID19 was declared a pandemic), my buyer client decided to back out of a perfectly beautiful home in the Hollywood neighborhood. This Buyer was paying all cash and with the uncertainty of the stock market, along with a few items that came up during inspection, the buyer made the final decision to cancel the sale. When someone is investing a half million $$ cash, the smallest details of an inspection become priorities. This can be frustrating for all parties in a transaction, especially when everything is going smoothly until then.
I always say, “everything happens the way it’s supposed to in real estate.” Point in case for this situation. A month later my client contacted me to schedule a showing of a truly unique property in the West Hills of SW Portland. We arrived with gloves, masks, and sanitizer in hand. A new showing procedure since the last home we previewed. This property has million dollar views, two living areas, 4 fireplaces, and 4 levels of high end living. Listed for nearly the same price as the Hollywood home a few weeks back. Instead of purchasing with cash, my client decided to take advantage of the low mortgage rates and make a substantial down payment. We wrote a clean offer, not at full price, a letter to the seller, and won in a multiple offer situation! We found out that seller picked our offer over a higher offer price. It’s all in the delivery, communication, and sellers intuition that my client would perform and close. Bam! All of this is presented to the seller through confidence in the buyer and my communication with the listing agent.
The Buyer, instead of liquidating his investments immediately, he decided to sell his house after moving then pay off the mortgage. With this new home, my client would be able to rent out a 2 bedroom home on the lower level, creating extra income. Which is what he desired with the first home he was in contract with. He also had additional bedrooms for guests, a larger main living area, a space for an exercise room and storage for his record collection.
Meant to be? I’m sure it was.
A good investment? Absolutely!
Is cash king? Not necessarily.
Financing is equal to cash. What Seller wants most is the confidence to CLOSE, especially in times like these.
Interested in buying Real Estate? Call or email me anytime!
Julia Robertson | Broker Licensed in Oregon & Washington
Living Room Realty
541-505-1111 | julia@rebyjulia.com
Julia Robertson
WA Designated Managing Broker | Earth Advantage | WA, OR, UT
During a two-plus decade career in real estate, Julia has approached her job with one overarching goal in mind: to help people get from where they are, to where they want to be...
Read More
- T: 541-505-1111
- julia@rebyjulia.com
