In late July I was contacted by former clients that had sold a townhouse and moved into a single family home in a Bristow HOA community in 2016. The reason for the move back in 2016 was to get more space for a growing family. The prevailing sentiment in 2022 was that the HOA lifestyle and neighbors pushed in snuggly on smaller lots was not for them. With property values being high, they wanted to investigate selling their existing home and getting something with more separation from neighbors and privacy.
The hardest component of a move-up purchase is timing the sale of the existing home with the purchase of another. When you aren’t quite sure what you want, it means taking time and trying on different types of homes in different locations. While we spent weekends shopping from Front Royal to Bealeton, Catlett and Warrenton their existing home was undergoing listing preparation.
About two weeks before their listing preparation was complete, my clients find the one that was meant to be their home. A twenty-two year old single family home nestled on six and a half wooded acres in Marshall, VA. We crafted their offer on August 24th, a time when the market was beginning to shift. It was a toss up if the seller would be willing to accept a home sale contingency, but they did, along with every available inspection contingency. You don’t buy your first rural property without at least a home inspection, water quality test and septic inspection.
Anxiety about if their existing home would sell was in the back of their minds. Sure enough, it was under contract in record time. While Bristow HOA suburbia may not have been for them, it was still a hot button for many buyers. Of course, taking the time to truly finish the listing preparation and not going off half-cocked combined with my professional marketing was what got that home sale done the right way.
After some negotiation over necesary repairs, the seller agreed to solve some mjaor issues and even a handful of smaller ones. My buyers were able to close knowing they have no immediate concerns in their new home. They were also able to secure a mortgage interest rate that was below market through a special loan program that crossed my desk in the middle of summer.
Are you ready to sell your home and want to try on some possibilities for your next home? Or are you just ready to stop paying your landlord’s mortgage and invest in your own future? Get in touch and let’s talk about what the market has to offer.
In early June I had the privilege of meeting relocating buyers coming from the west coast. They were in town for one week for a house hunt. Their budget was more than enough for what they wanted. The issue was their existing home that was under contract, but not guaranteed to close. On two occasions during our week together they were convinced they had found the perfect home.
The first one was everything they said they wanted and more. Acreage. Multiple garage bays for the car collector in the family. And the home was a California style ranch. Did I mention it had a pool? Unfortunately, they did not act fast enough when they saw it the first day out. They wrote an offer the second day we were together and it just wasn’t a strong enough offer. Back to the drawing board.
Then it was to another dream home scenario. A traditional home on over twenty acres in the northwest exburbs of DC. They were drawn in. However, the seller in this case wasn’t really ready to sell because they had decided, at that late date, to subdivide their property so their soon-to-be landlocked son could have an easement. Grrr. That was a frustrating loss. Why would a seller have an active listing when they weren’t ready, willing or able to sign an offer?
The buyers left empty handed at the end of the week. Their first day or two back on the west coast saw a false start on another home. Thankfully, faith in the process emerged over a couple conversation and when they moved into temporary housing as official residents of Virginia a couple weeks later, we were back at the house hunt. The first day back out, they saw two homes they loved. More importantly, one their kids loved.
A quick decision had them making an offer on the one mom liked best. Again, an unanswered prayer. The listing agent on house number one thought my buyers had FHA financing. They were conventional with no appraisal contingency. By the time that agent called to blow me off the next day, she realized we were a better offer than she thought. Oh well. Your loss. On to house number two, which was the home that had hit the mark for the entire family.
Mom and dad didn’t tell the kids right away when they got under contract. They waited until the day of the home inspection to tell them they were buying the house they loved the best with the pool, game room, sauna and wooded acreage. The house had been a vacation home for the sellers who had just put in the pool and a new septic system. The sellers had redone so much in the home. And they were the most gracious sellers I have encountered in a long time on a buy side. They left beds and arcade games for the kids, a table and outdoor furniture for the pool.
My buyers got an amazing deal. They LOVE their new home. They are so glad none of the other deals worked out. And since moving their belongings in, I have received pictures of their life in Virginia adventure. In a message to me after closing I smiled when they said, “Thank you once again for everything. You were awesome to work with and made lifeeasy.”
How can I help you? It is my pleasure to make the transition in, out or in between homes, as stress free as I can. Reach out for your own consultation.
