By Alyssa Starelli, November 5, 2018
By Alyssa Starelli, November 5, 2018
Past clients, Yoni and MJ called me up this summer after having decided they wanted to move, and they wanted NEW. We decided that the market was sufficiently flowing so that we could find a new property, write it contingent on the sale of their current home, and start the “ballet” as I call it.
Because of the nature of my specialty in ‘period-perfect’ or ‘mid-century’ home, new construction isn’t something I have a ton of experience in. We might be touring half completed homes, or just looking at spec sheets of what a home ‘should’ look like. We might have a lot of say (picking finishes or floor plans) or very little (plans and finishes complete). It’s a different beast and the time-line is unsure — there are a dozen contractors needed to finish a job and one General Contractor to orchestrate them all. Trust in that GC is paramount, or many a sleepless night is inevitable and as much as you’d like to think a newly built house would be built to perfection, they certainly aren’t! A punchlist might be longer than the repair list on a 50 year old home!
We had a fun time shopping new homes in the SE area. There are interesting options and some dreamy sites to choose from, and everything is so clean and tidy. The family settled on one in particular that we were able to get under contract contingent on the sale of their property. We then rushed to put their home in Brentwood-Darlington up for sale. And then the market slowed.. (I was receiving so many price reduction emails from other Realtors, I had to put a filter on my Gmail!) We were hit too, and it took much longer and far more work than anticipated to find the right buyer for the seller’s home. This caused a lull and riveting intensity in our ballet — an urgency to obtain the new home the sellers dearly wanted! Could we do it? OH the pressure! (Cue musical crescendo here!).
Alas, YES, we did find a buyer and he was incredibly easy going, the timeline couldn’t be more perfect if we could just make it stick. The next act in our ballet was reviving the purchase of our new construction home — including inspection, repair addendum/punch list and a TON of completion work for the GC of that property, all running concurrently with the inspection and repair negotiation and repair completion of the seller’s current home! (Imagine Swan Lake when all the swans are busy flitting about).
Every step needed to hit perfectly: I fretted, I planned contingencies, I texted and bothered everyone at wee hours in the morning! One house needed to close within days to fund the other (enter: Title and Lender/Underwriting), the sellers needed rent back (but how much?), all work needed to be completed before possession (stage left: GC and his minions, stage right: my clients and our bevy of contractors)!
Every dancer had to play their part or chaos would ensue. And instead, (cue a relaxing music that lulls the audience into a peaceful sleep) the sellers moved into their new home on time, the buyer took possession of his home as expected, nobody was homeless, everyone was happy! Luckily, only the new refrigerator was delayed!!
I’d like to thank the players of my ballet:
Michael Riehl of Guild Mortgage for keeping me sane about math, timing and his extreme efforts to make it happen; Team Chase at FATCO for meeting our closing dates, keeping me apprised of hiccups and constant reassurance that we had it in the bag; Michael Vaughn of Paramount Realty (Realtor, Builder and the GC ) for puppet-mastering his team into completing the new construction in a shortened closing window and delivering a mini fridge when the fridge delivery was delayed; Garrett Conn of KW and his buyer for being super chill on an ever-moving timeline; My clients Yoni and MJ for starting the whole ballet and dancing their parts beautifully!