JUST SOLD! Ogden 3 Bed 2 Bath Cottage
Published On: December 14, 2016 Posted by: Jeremy Peterson
I just closed on the sale of this listing located at 2945 Brinker Ave. in Ogden. This 3 Bed 2 Bath home was originally listed in June for $144,900. The home had been a rental property and the owner asked us to get the home ready for market. We ordered the carpet replaced and paint redone in several rooms. The home was then ready for show time.
Once we got the home on the market, it became apparent pretty quickly that we had been overly optimistic on our pricing. We dropped the price to $139,900 a week later. Shortly thereafter we received an offer which we accepted. But, that buyer withdrew after due diligence citing repairs that were needed. Our problem was that the roof was nearing the end if its serviceable life. All of the interested buyers were FHA qualified and without a good roof, the home wouldn’t qualify to take advantage of that financing.
After a month of hoping for a conventionally financed buyer, we pulled the home from the market to allow for the roof to be replaced. Cook Roofing did the work for our seller. They did a fine job. After their work was completed in September, we relisted the property with a new roof. We listed the property at $144,900 again but the market again rebuffed our list price. We dropped the price to $140,900.
About 10 days later we received an offer for $137,500 with the buyer asking for $4,725 in seller paid closing costs. We accepted this offer in mid-October. The buyer utilized the Own In Ogden program which required our seller to make some additional repairs to the property. Our crew of handymen quickly completed those items. The appraisal came in at value and we closed about two weeks later than schedule due to paperwork bottlenecks involving the buyer’s lender.
Looking back on this transaction, the deferred maintenance on the property slowed things up for us early on. Fortunately, we identified those problems and our client worked with us to remedy them as quickly as possible to get the property sold. Congrats to our seller!
If you are thinking of selling your home, CONTACT ME, and lets discuss a plan to get you top dollar for your property.
