JUST SOLD! Historic Ogden Victorian
Published On: April 20, 2016 Posted by: Jeremy Peterson
I just closed on the sale of this listing in Ogden located at 530 23rd St. The home was listed the last week in February at an initial list price of $189,900. The sellers purchased the home a couple years ago and made some improvements during their ownership. They hoped to be able to use their equity as a down payment on their next home. 
Immediately upon listing of the property, we received an offer for $175,000. Since the property had only been on the market for 12 hours, they decided to decline the offer and hope for a higher bid. The following day our higher bid came to the table. The next prospective buyers offered full list price and asked for $5700 in seller paid closing costs. My clients needed to maximize their sale and so we countered the buyers at $192,700 and agreed to pay their closing costs.
At the time, we worried that an appraiser may have difficulty supporting that increased value. Due to the recent winter season, there were few comparable sales in the area. So sure enough, once the appraisal was ordered, the buyer’s agent and I received a note that the appraiser was “Invoking Tidewater” to indicate he needed help finding supportive comparable sales. The funny thing about this is by the time we received this request, there were many supporting comparable sales that had occurred in the marketplace.
Thus, when we got the appraisal back, it supported our contract price. However, since the home was being purchased with a VA loan, the appraiser cited many areas of flaky paint that needed to be addressed. The sellers quickly scraped and painted much of the home to satisfy the appraisers needs.
The transaction was also depending on the buyers selling their home in the suburbs. Fortunately, their sale occurred quickly and we were able to close our transaction a little early.
Congratulations to my sellers! If you are wondering what your home would sell for in today’s market, CONTACT ME, and lets see what your home is worth.
