JUST SOLD! Cute Remodeled South Ogden Rambler
Published On: February 25, 2019 Posted by: Jeremy Peterson
We just closed on the sale of this freshly remodeled home at 4055 Madison Ave. in South Ogden. We listed the home for $249,900 on January 14th and immediately had interest in the property as buyers and agents swarmed the residence. The following day we received two offers. The first was for $261,000 using conventional financing with the buyer asking for $6,100 in closing costs. The second was for $262,000 using FHA financing with the seller asking for $3000 in closing cost assistance and potential FHA required repairs.
My clients felt more comfortable with the conventionally financed offer and we decided to move forward. One interesting caveat about this property is that it sits in a duplex zoned part of South Ogden. The downstairs is also only accessible from a separate entrance behind the home. Yet, the home is not a legal duplex due to a lack of separate HVAC and water heaters. We advertised this fact on the MLS. Well, about two weeks into the transaction I got a call from the agent. He says “Hey man, we checked with the city. Did you know this place is not a legal duplex?” My response: “Yes, that is why we listed it as a single family home on the MLS.” Silence.
Needless to say, the buyer’s lofty expectations were dashed and the deal fell apart. We put the property back on the market and the feeding frenzy began all over again. We immediately received a third offer. This time the offer was for $255,000 with the buyer requesting $5,000 in closing cost assistance. We accepted the offer.
From there the transaction went much more smoothly. There were some minor repairs the buyer requested along the way which the seller completed. The appraisal came in fine and we closed earlier than anticipated.
Congratulations to our sellers! If you are looking to sell your home for top dollar, CONTACT ME, and let’s discuss how we can get the most out of your home.
