Contract!

The FR property was listed on Monday p.m., 11/13. Once listed, there was a flurry of showings.  On Sunday a.m., a week later, I received an offer. After receiving the offer, we called all of the other agents who had shown the property to determine if there were any latent offers out there.  There were none.  We countered the offer, and the buyer verbally accepted.

The selling agent wanted us to pend the sale prior to getting the ratified contract, as he was detained with other clients and could not get the contract signed by the buyer until 2 p.m. today.  Neither my agent nor I were comfortable with that.  Rather, we called the one agent who was showing today and told her that we had a verbally accepted offer.  We also told the buyer that we would accept the verbal OK and would pend the property after receiving the ratified contract. Further, that even if we received another, better offer, we would honor our verbal commitment with this buyer.  Perhaps it sounds corny, but this 'renovation' business model started with my daughter's unhappy experience.  Our business model is designed to provide a happy experience to the buyer who will get a home that has received a quality renovation.


The buyer is a first-time home buyer in her late twenties.  Both the house and the Buyer fit the 'business model' demographic.  I don't have any concerns about the appraisal or any of that for this house.  There are supporting comps that comfortably embrace our sales price.

But it is a long road from contract to closing.  I'm tempering my expectations accordingly.