[quote author="irvinehomeowner"]I have to admit I'm surprised this worked out so well.
Like jumpcut, usually those letters are ignored or it is hard to find an owner who would be willing to sell.
This is actually a win-win for both seller/buyer:
Seller:
- No need to do open houses or have strangers running through your home daily (it was a pain for us to "stage" our house every morning)
- The buyer is pre-qual'ed so the worry of falling out of escrow is minimized
- The commission fee is lower than a traditional MLS listing (depending on agent)
Buyer:
- Like ice stated, no competition from other buyers
- You get a floorplan/model/house/location that you wanted
- If negotiated properly, you will usually get the price you are willing to pay
There are some cons, of course. For the seller, they may be able to get more on the open market, but that comes with its own issues. For the buyer, you may not get a "pristine" home, but if you are willing to do some work... it may be worth it.
Please let us know more about this once everything finalizes.[/quote]
You hit the nail on the head IHO. The best thing was that we didn't have to compete with several other buyers and multi counter offers. The home has good bones and a nice sized lot but it does need some updating. We'll probably do the flooring before we move in and then the kitchen/bathrooms over the next few years. We were really beginning to lose hope because so few homes being on the market and prices for new listings kept going up. Even with the price that we paid there may be some downside but we plan on living in this home for next 15-20 years so I'm sure we'll be fine. My wife and I aren't one of those people who looks at their home as an investment but rather has a place to live and make memories.