Situation
Mr. Smith helped to build this home just after the war as a young man. Together with his wife, he subsequently went onto raise a family of 4 wonderful children. Unfortunately, his wife passed away leaving him with a large yard and a home that was simply too big for him alone. Mr. Smith moved into sheltered accommodation. No longer needing the home, Mr. Smith asked his children to find a suitable real estate service provider to get the home sold.
Several traditional REALTORS® were interviewed, none of whom had anything particularly different to offer or say about how to get the home sold for full market (retail) value. One REALTOR® suggested that because the lot was so large, the best thing to do would be to tear down the home and subdivide for new construction. This very notion upset the entire family
One of the local family members then reached out to Stuart Neal – Broker Owner at Ambergate Realty Advisors. He suggested that first an independent appraisal be obtained as this would give an objective opinion for ‘highest and best use’ of the lot and home. The report confirmed that the best path forward would be to sell the home as a ‘going concern’.
The family also objected to paying expensive traditional real estate commissions. The flat fee program offered by Ambergate Realty Advisors was the obvious choice.
Result
Just prior to the Easter Holiday the team at Ambergate Realty Advisors put their extensive marketing plan to work. By Easter Monday, we had created a multiple offer situation. The idea is to create tension and therefore strongly encourage potential buyers to make extreme offers. In this case it worked.
We managed to negotiate an ‘all cash’ offer and sold the home for $7,000 ABOVE the asking price. The sale closed this past week.
The family was elated with the outcome and Mr. Smith will be using the money to pay for ongoing living expenses and he also intends to provide a sizable gift for each of his children.
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