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Sneak Peek of This Rancho Cordova Home Rehab In Progress
Sneak peek of this Rancho Cordova home rehab in progress was surprising. The owner told me she had updated the entire house both interior and exterior except for the slab, the electrical and the plumbing inside the walls. This photo above shows the kitchen with upgraded shaker cream colored cabinets. A glass tile backsplash, with upgraded counter slabs and black appliances.
This feels like a modern but functional kitchen. A popular five burner gas stove to cook with, dishwasher and microwave, completes the appliance package. Do not miss the double stainless sinks under the kitchen window which looks onto the large backyard.
The windows are all new white vinyl dual panes throughout for increased energy efficiency. Luxury vinyl floors complete this space. The Kitchen opens to the family room with a stone covered fireplace. The floorplan offers so much flexibility depending on lifestyle. A large formal dining area with formal living room and double entry front doors speak to a quality lifestyle. I saved the best for last; there is what appears to be a new Goodman HVAC system, as well as a Rheem water heater.
There are four large bedrooms upstairs with two full baths. Additionally, a one-half bath located downstairs for guests is easily accessible from the kitchen and living areas. The large indoor laundry room with outside door access will be appreciated on cold days, as no trips required to the garage to change out laundry. We can’t forget to mention the garage is extra deep and immaculate. A Rancho Cordova rehab project with so many upgrades was a pleasure to tour.
The workers were completing the stucco install on the exterior while I was there. A new roof was put through its paces this week, with this latest May rainstorm and no visible leaks. To say this home is move in ready is an understatement. It appears the homeowner did update much of the entire house, even some of the stucco exterior. She said she has the receipts. Why would a property owner with a Rancho Cordova home rehab so extensively? Good question.
She told me it had been a marijuana-grow house and that her previous tenants were arrested for marijuana cultivation. She said she filed an insurance claim for much of the damage. Also, she confirmed to me over the phone that she had completed a mold test. It is always recommended for a tenant or a buyer to verify work and inspections independently.
I met her contractor at the property today. He invited me to take a sneak peek of this Rancho Cordova rehab project. The seller approved for me to take pictures as well. The contractor provided me his business card. He said all work was completed to code. As a Sacramento Realtor, we do not pull permits, nor verify contractors license numbers. We do, however, suggest tenants or buyers thoroughly investigate a property.
To help you achieve your real estate goals call Weintraub & Wallace Realtors at RE/MAX Gold, 916-233-6759.
— JaCi Wallace
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.
