NRE, I agree with you. Emotional attachment in business (and stock trading) is not good. But this is RE… Sometimes, it is OK to leave some on the table to avoid the PITA buyers… If CB did not lose money on the flip, all is well!
The other buyers may well have ended up lower than these buyers after haggling about credits and whatnot. CB did well and the new buyers gave to screen their tenants carefully.
When we 1st bought our house, we rented it out because we couldn’t quite swingbtge mortgage after all the closing costs and replacing the roof. The tenants ended up with the sole breadwinner losing his job so we let them out of their lease, installed hardwood floors over the sheet vinyl and moved in. Fortunately, in the 1.5 years, they didn’t do much damage, and we were quite thankful for that.
The new buyers may be in a similar situation–getting everyone organized to move is no easy task, especially where at least 2 families are involved.
We are on track to record and close tomorrow. It was a long day yesterday getting the final little repairs done (some were little things that took a long time to try to figure out how to fix). For example, the buyers caught that the stove vent was vibrating and rattling really loud. The dang Home Inspector wrote it up like this “Stove vent vibrating and noisy, probably at the end of it’s life and needs replacement”. What the hey?? It’s a brand new vent system??? Anyway, after over an hour of fiddling with it because we thought it was banging against the glass backsplash, trying to tighten screws and put in a rubber washer shim, we discovered what the real problem was. Someone had tried to ‘adjust’ it to the right a bit and it was out of level (probably me) and the slight angle/adjustment had caused the vent flaps at the top to get out of whack and they were hitting against each other. In the end, all it needed was a 1/16" push to the left to get it back to level.
I’m always amazed how we can magically get the garage cleared out and painted in the last hours. Garage looks clean and nice. I spent a lot of time going through all the paint and clearing out old stuff no longer needed. When I have a big 5 gallon bucket left, I really want to try to use it on the next project. The buyers don’t need a big 5 gallon bucket taking up space in their garage. So I transferred about a quart of the paint into special containers and labeled them carefully. All of the touchup paint is clearly marked and in the garage cabinets.
BUT, ran into an interesting problem. Of course the electrician had to tear open a little bit of wall to solve a problem in the living room - one wall of outlets wasn’t working. I thought it was something simple, but he thinks that someone must have jerked the wires downstairs somewhere during the construction. So, now we have a hole in wall that needs to be patched, sanded and re painted. When we were doing the original painting, I was not happy with the color in the living room so I had created a custom color mix for the living room walls. In searching around it looks like we are completely out of the custom color mix. And, of course, this is the wall that needs final touchup before the buyer final walkthrough. I had to cut up a water bottle and re create the custom color mix from memory with the paint that was available. Nailed it the first time!! Very proud of myself. Avoided a potential ugly cosmetic disaster. But I feel bad that I cannot leave some touchup paint for the living room.
So busy yesterday that I could not do the final cleaning. Today I am going into escrow to sign the grant deed and I have to do the final cleaning of the house.
Buyers are returning from a family trip tonight. They are going straight into the bank tomorrow morning and wiring funds before the final walkthrough - that’s very nice. Then at 10am we will do the final walkthrough and give the OK to escrow and title to record the sale.
P.S. When I met with the buyers last Sunday night at the property, they did talk a lot about wanting to move in with their son’s family. However, when they made their verbal offer on Sunday night they did not make any comments about living there or moving in. So, I’m not sure if it was my misunderstanding about their intentions or whether I was slightly misled by them during the original walkthrough. I think it was more about them trying to get a gauge on whether it was quality construction and disclosures.
Glad things are progressing more or less smoothly CoralBrook.
Whatever the buyers intentions, they made a good offer, are willing to close earlier than expected and are not jerking you around with a lot of petty nonsense. This is a good deal for everyone.
Here’s a nice little flip in the neighborhood. http://www.sdlookup.com/MLS-150062380-1721_Catalina_Blvd_San_Diego_CA_92107 I think there’s a bit of a canyon type view but the photographer apparently doesn’t know how to focus. And didn’t you say they’re supposed to show a picture of the front of the house?
^^Perfect for anyone who loves floor to ceiling dark wood paneling! Maybe they will throw in the ocean-themed couches with the starfish pattern
I think those are flowers on vines wishing to become starfish.
12 days from offer to close? Wow, you work fast!
And Marilyn, please be careful about posting things like that after 5 pm. I might have had a drink in my hand.
Well…the next six weeks or so are going to be very dull…no flip to read about.
Looking forward to number 5!
I am so tired. I ended up having to fix some small things. Something that drives me crazy is the manufacturers of shower fixtures set the default temperature low. When I was cleaning the Bathtub downstairs I noticed the water was not getting hot. So I had to call my carpenter so he could talk me through opening the valve and setting temperature.
Didn’t finish cleaning floors until 6:30pm. Have to go over early tomorrow morning and finish clearing out some stuff.
Closing in 8 days is a lot of hard work 
But do you have your false eyelashes on like what’s her name on that TV show I won’t name ?
Landscape neighbor lady came over today and wanted to take photos of her yard from my balcony. I then watched her take a video of entire left/right view from my balcony. I have no idea why. She is a talker. She then started a tirade about renters and I had to repeat that I don’t know the buyer’s exact intentions and I have no right to discriminate against a buyer. She is planning to make sure that the buyers know the exact property boundaries and rules about renters. What ‘rules’?? She can’t just make up rules because she lives next door. Oh brother, i feel sorry for the buyers. She will be over there the minute they show up. Sure hope I’m not there!!
Congratulations, CB! Really looking forward to hearing the sales price and the details of the other offers after the close.
Landscape Lady dos not sound like a fun neighbor.
Hope all goes smoothly today!
Fingers crossed!!
We are closed!!! The buyers were very trusting. They had quite a hectic day. First, their daughter called and said “Oh By the Way Mom… you need to watch all the kids today”. This means they had to load up 3 young grandkids into their car and go to the bank this morning. They decided to wire their money first, before coming out to the house for the final walkthrough. They get to the first bank and there’s some kind of power line down and the branch’s computers weren’t working. Load the kids back into the car and go to another branch to do the wire. They were running about an hour late.
We walked through the house (with kids screaming and running all over the place) and they had some questions and we went through the repair list. She was so excited and shared that her father had passed away one year ago, exactly to this date and he would have loved the house they bought with every cent of the inheritance. She has no regrets about spending the money on the house.
They wanted a picture with me handing them the keys out front. Never had that before. She hugged me and thanked me profusely for selling the house to them. I told her I was a sucker for nice buyers. Just as we were out front, neighbor lady came pulling up to her house. I was just hoping she didn’t come right over and talk for an hour. Thank goodness, she did not.
Big congrats on another lovely flip and on getting the closing done quickly. We all know what you are thankful for this Thanksgiving! I can’t wait to follow your next house.
The neighbor lady needs to be told to mind her own business. I hope the new neighbor’s, or better yet…their property management company…tell her to take a hike. It’s none of her business if these folks rent their house. None. She is a jerk. She shoild be grateful they you fixed up this house, and likely I improved her property value by doing so.
Congratulations on the sale! So happy they love this house. That has to be a good,feeling for you.
Can’t wait to hear the final details. Agreed…a great Thanksgiving day present.
That is so rewarding knowing you have happy buyers.
So happy that your Turkey Day will not be filled with headaches and worries! Wooo!!! Congrats.
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