Tuesday, August 13, 2013
In the spring I was in a multiple offer situation on a home in Magnolia and we won - it wasn't easy as the listing broker asked us to return with our highest and best while removing all of our contingencies. As my client had already lost an offer, he wanted to be aggressive and so we won!
It is a great location for him as he works on the Amazon campus at South Lake Union and he can bike or bus to work. In his off time he likes to hike around Discovery Park with his dog or work out at the local climbing gym.
Last week my latest listing closed - it too had its moments of excitement when we received two offers on July 3rd. We passed the pre-inspections and sewer scopes (with one recommendation for a big flush as they found roots and rocks near the house where a bathroom had been added in the basement). Deliberations when on until 1:30pm on Fourth of July when we received the signed-around purchase and sale agreement - great way to celebrate!
Simultaneously I had an offer accepted for another client - while we had lost six offers due to extreme escalations we finally won and came in under list price! The property will be used as a rental until my client downsizes from her six-bedroom home in Magnolia.
One thing to keep in mind when making offers in these competitive climates such as we have in Seattle - you want your offer to be as strong as possible. If multiples offers are asked for we want it to be as strong as possible - a pre-inspection, a closing time agreeable to the seller, cash or strong financing with proof such as a letter from the lender and a consistent earning history. A pre-inspection, while spendy, gives you and the seller peace of mind that you know what you are getting into.
The climate has switched in the last month or so to less multiple offers, less pre purchase inspections and more "regular" offers - offers are sent in with inspection contingencies. It is still good to know if the home one is buying has any issues with knob-and-tube wiring, oil tank decommissioning or leakage, outstanding permits, etc.
I recommend one inspection firm and they have a three-tiered pricing schedule - just over one hundred dollars for a basic walk-through, a bit more for a checklist and close to $400.00 or $500.00 for a full report. The more in-depth reports can be purchased at a later date by request.
There is also another trend I am seeing - with so much hiring from Amazon, Gates Foundation, Microsoft and all of the high tech firms in South Lake Union, Redmond and Bellevue parents from various states are buying condos to use in various times of the year to visit their children who are grown and working in Seattle. I held a condominium open at Ballard Place last weekend and me three sets of parents in this demographic. I might add that Ballard Place is a very clean and well-run condominium that has the feeling of a nice hotel - it has a concierge, fitness room, conference room, computer room, entertainment area (which can be rented for events) and a lovely roof garden with views of the Olympic Mountains.
To contact me or begin your search click here: andreehurley.cbbain.com or http://andreehurley.com