Annabelle and Fabiana contacted me to help them sell their 70s, updated ranch in Hillsboro, and also to buy their next home. I knew selling their home would be a breeze with a few cosmetic updates. (See their listing here) My only concern was finding them their next home with such low inventory! As sellers, they got to reap all the benefits of the strong seller’s market we have right now. Especially in the suburbs! They got multiple over asking offers and closed at 9% over their asking price! As buyers though, they were in the tough spot of having to compete for the few great homes on the market.
Selling and Buying
We navigated this sell-buy process by asking anyone making an offer on their home to please include a free 30-day rent back. This means that all the potential buyers would allow Annabelle and Fabiana to stay in their home an extra 30 days after closing so that they would have more time to find and close on their next home. Every offer we received included a rent-back of some kind. Annabelle and Fabiana were happy to have the flexibility, and the extra cash from the great offer, to make their move.
We toured a few homes, but with so few on the market that matched what they needed, our search was actually relatively short. They lucked out by finding a home that had just come back on the market and making an offer right away. It was in an unusual location on an unimproved street, so that limited their competition as well. The home has more space than they originally thought they needed, and the location works great for getting to work and school. Their offer was accepted right away and we moved forward with the purchase!
Old Home Getting the Love it Deserves
The home that Annabelle and Fabiana chose is over a hundred years old and perched up off the street on a little hill. It had gotten some updates done here and there but it is in need of some bigger updates. During the inspections, they found a number of items that needed repair immediately. Luckily, the sellers were willing to work with them on those things. The sellers had a new roof put on the home and garage before they closed, and they also provided a credit for the cost of a new sewer line. Since I was able to sell Annabelle and Fabiana’s home for so much more than they were expecting, they were left with some extra cash to make additional repairs!
Annabelle and Fabiana have big plans to rebuild the supports for a sagging, enclosed, back sunporch and to repair a beautiful, covered front porch. They also plan to install new windows on the main level replacing cracked and dry rotted single-pane windows. They will also update some electrical items for safety, and update the bathrooms and appliances to modern standards. The house has a certified front yard habitat, and they are looking forward to maintaining the garden and growing their own fruits and vegetables, something they did at their previous home as well.
This 100 year old home is in great hands with its new owners. I saw how beautifully they cared for and maintained their previous home, so I’m sure this one will be just as well-loved. I am so happy for Annabelle and Fabiana and can’t wait to see how they give this home a new life!
Congrats Annabelle and Fabiana!