Wednesday, March 7, 2007

Hiding Out at Library

We got an offer on the house yesterday, Tuesday. After some consideration, we rejected it. The problem wasn’t the price offered, which was reasonable, but the attached contingency. If we accepted the offer, the prospective buyers would put their townhome up for sale and would need to sell it prior to our being able to close on our deal. That doesn’t sound too ominous but consider these facts… first, we’ve only been on the market for a little more than a week; second, during that week, we’ve had strong activity, including two second-showings; third, we’re just now getting into spring, the prime house selling/buying time. If we accepted the offer with the contingency, it puts our house in a sort-of limbo status… technically, still “on the market”, but most agents don’t show houses that have contracts pending. Our activity would go way down and we’d miss a lot of potentially better deals. The townhome the prospective buyers need to sell is in an area where a number of other properties are for sale and where recently closed sales had been on the market for 100 days or more. We’re rolling the dice that we’ll find a buyer that can close quicker.
Today, Wednesday, is “real-estate agents day”. What this means is that agents from all over the area are out familiarizing themselves with properties recently added to the multiple listing service. The selling agents make these properties “available”, which means they’re cleaned up, lights and candles on, owners out, and ready for inspection. Often, as our agent is doing, they’re enticed to show up by means of a free bottle of cheap wine and a chance to win a $50 drawing at a local wine store, where presumably they’d be able to get a better bottle of wine. Besides getting up early today and getting the place ready to show, we’re evicted from the house for a few hours. Dar’s off today, so we treated ourselves to breakfast and, with laptops in tow, headed to the local library to hide out and do some work for a couple hours.
The weather is predicted to be warmer in the next few days and spring can’t be far. We’re hoping the warm weather brings out buyers with money.