Blog Stories Buyers want to buy, sellers want ... to not sell?

Buyers want to buy, sellers want … to not sell?

By Carson Mead, October 8, 2020

It’s a common adage that in a real estate transaction buyers want to buy, and sellers want to sell. What happens when that norm is thrown out the window? How do you move through a transaction when this is not the case?

My buyers had been looking for their first new purchase together. We saw a lot of homes that didn’t hit the right location, or have the amount of updating that they were looking for, or were not the right fit in general. Eventually we found the right combination of these qualities in a great mid-century home near Lents in SE Portland. My buyers were really excited, and wrote an incredibly solid offer, beating out 9 other buyers. We moved into contract, but shortly thereafter were informed that the sellers no longer wished to sell, and asked us to move out of contract. This isn’t so simple though, and after listening to the sellers needs, my buyers weighed that with their own current situation and conveyed their desire to continue moving forward. As was within the sellers rights, they let us know that they would no longer be participating in negotiations if my buyers wanted to continue moving forward, essentially stating that the property was now as-is. My buyers and I had some very long conversations, running through different scenarios about what speed bumps we could run up against, so this wasn’t a total surprise. The home inspection turned up a very well cared for home in great condition, and the appraisal ultimately came in at value. We cleared the two big hurdles that could have been very challenging for my buyers to overcome without seller cooperation.

I always hope that every transaction is a win-win for both the buyers and sellers. In this case I was pleased to help my buyers purchase their new home. I hope in the end that the sellers are also happy that their home sold for significantly over asking, and can use that to purchase a wonderful home for the next phase of their lives too.

Carson Mead

Broker | ADU Specialist

My first introduction to the world of real estate came in 2004, when at the age of 22 I bought my first home in NE Portland with my sister. I still remember what a monumental life transition that was. Buying my own home laid the foundation for a lifelong love of all things related to houses. I enrolled in a year-long Building Construction program to gain more knowledge in housing systems and techniques. I have used those tools to enhance my own home both inside and out. I joke that my favorite part of a house is the basement, as that’s where I can see the health and maintenance of a home’s systems: plumbing, electrical, HVAC, foundation etc. While a home inspector is the professional on helping to understand the story of a home, I like to provide as much due-diligence as possible up front before you spend the money and get into contract. Ultimately my goal is to meet you in any endeavor that you are wanting to undertake. If you are looking to sell, I will develop a strategy that makes sense for you with your goals, timelines and marketing strategy. If you want to invest in your home before going on the market, we’ll look at what you can do to maximize your profit: be it refinishing floors, painting, modifying light fixtures, and getting it staged. If you need to stay in your home while selling, I’ll bring in my stager to help get perspective on how to pare down the feel of your home and have tangible goals to achieve in getting ready to go on the market. If you are looking to invest in Portland real estate, we can talk about the big four in analyzing properties. Rental income, principal reduction, equity growth and tax benefits. I work with spreadsheets to outline these assets so you can see the short and long term performance of your investment. Once last piece of my professional and personal life that I spend a lot of time thinking about are ADU’s (Accessory Dwelling Units). Also known as mother-in-law units and granny flats, these can be detached or attached. When I see a home, I look at the property in detail to see how the home is oriented on the lot and if it is ripe for a detached ADU (new construction), or if it is a good prospect for creating an attached unit (a basement apartment). I also look at the zoning to see what kind of potential this could add. I am in mid-process building my own detached ADU. The structure is going to be modern with clean lines and open concept. I live on a corner lot, which means the ADU can have it’s own street entrance. I also have zoning which will allow me to split the lot if I choose and sell it separately at some point. My plan is to keep it as a rental, but this will create a lot of flexibility both short and long term. I am a cooperatively focused broker, with a passion for helping people achieve their goals and succeed in their endeavors. I am patient, understanding, trustworthy, and truly care about your best interests. I serve on my neighborhood association board and the larger Northeast Coalition of Neighborhoods. Please let me know if you'd like to share a beverage, coffee, tea, beer/wine to talk about what’s important to you and see if it would be a good fit to work together. All the best— yelp
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