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Dealing With Identical Purchase Offers for a Fixer in Rancho Cordova
Identical purchase offers need something to make the best offer stand out.
When I first introduced this fixer home in Rancho Cordova to the market, I did not think we would receive a bunch of identical purchase offers. Usually the way these things go, agents advise their buyers to submit sales prices all over the place. Plus, there are usually always those kind of buyers who won’t pay list price for any home. They don’t care if it’s underpriced, they simply refuse to pay list price and expect a break on the price. But we didn’t get any of those kinds of buyers. That’s not to say we didn’t get a knucklehead here and there.
I should point out this was a home we had priced at $225,000. Not because we deliberately wanted to cause a ruckus but because that’s the amount at which the last fixers in the area sold. Identical purchase offers? Wasn’t even a goal. We just hoped for the best offer from the most motivated buyer who could quickly close. One agent wrote to ask why the confidential remarks stated “submit your best offer over list price.” Um, because we wanted to pick the best offer that exceeded our sales price and we were not considering any offers less than that?
Another buyer submitted an offer at $237,500. They were doing a 1031 exchange and were running out of time during their 45-day time period to select a property. The seller said, hell yes, that’s a good offer. We had motivation. Except we also had a pile of $240K offers on the table. So we countered the 1031 exchange buyers at $240K. They had to “think about it”, initially, which meant they probably had written other offers which is definitely not kosher nor legal. They did not seem like ethical buyers. We withdrew the counter offer.
There were also a few of those brown noses insisting on working directly with the listing agent. Hoping we would sooo love to double-end the transaction that we’d double-cross our sellers, break fiduciary. They think they can throw money at agents, and obviously sometimes they can, or they wouldn’t do it. Doesn’t work in my situation. I won’t work directly with them, so their evil little plans backfire. They can work with my team members or they can get their own agent, I don’t care.
Let’s not even talk about the agent who damaged the home by kicking in the garage siding, twice. With his client standing right there. Then allegedly he swore at the witnesses who shot photos of his car. Good thing he didn’t write an offer.
So many identical purchase offers. And then one identical offer was suddenly different than everybody else. It contained no contingencies, they were actively removed, a huge earnest money and the buyer agreed to deposit all of the cash into escrow right away. Same price but much better terms. We closed escrow 7 days later at $15,000 over list price with 11 offers.
Your Fixer Home in Rancho Cordova is in Sacramento MLS
2430 Stokewood Way, Rancho Cordova, CA 95670 is a fixer home.
If you’re looking for a fixer home in Rancho Cordova, look no further. This new listing came on the market yesterday morning and it’s already generating a lot of excitement. This fixer home is located about halfway between Sunrise and Folsom off of Zinfandel. Nice neighborhood. I sold a lot of homes in this neighborhood during the market crash years in Sacramento. Now, the neighborhood is showing pride of ownership and people have equity again.
You can definitely see the possibilities when you walk through this home. It’s a popular model that features a remote living room right off the entry way with a brick fireplace at the far end and a steeple ceiling. It could use new carpeting and new vinyl, although the trend today in flooring tends to favor wood floors or wood-like laminates.
Kitchen, dining and family room at 2430 Stokewood Way.
Once you pass the living room on the right, you’ll come into the family room / dining area and the open kitchen. There is a sliding door to the covered patio. The kitchen could use new cabinets and counters, but the appliances appear to be newer. It would not be expensive to buy cabinets because there aren’t very many of them.
The fixer home in Rancho Cordova features 4 bedrooms and two baths, and those rooms are located on the other side of the home. The master suite, of course, is at the back of the home and overlooks the beautiful shaded yard. This neighborhood has a lot of trees. The ceilings throughout are acoustic, and the home was built in 1977, so you can imagine why they should be scraped off and painted. The Sacramento County Assessor says the square footage is 1,367, but I have not measured it.
Lots of mature trees in the back yard of 2430 Stokewood Way.
One buyer has already expressed an interest. His agent shared with me the agent’s wife is a loan officer, and she has completed loans for 2 of her brothers, so she will handle the loan. Not knowing how to respond to this disclosure, I said that it’s good information to know. He thought so, too. So why not jump on the bandwagon and snatch up this home? Come join us at our open house on Sunday from 2:00 to 4:00 pm, hosted by the incredible Barbara Dow. You can also view the virtual tour.
2430 Stokewood Way, Rancho Cordova, CA 95670 is offered for sale exclusively by Elizabeth Weintraub and Lyon Real Estate at $225K. Please, no lowballs. Make your best offer over list price. All offers for this fixer home in Rancho Cordova will be submitted immediately.
