Friday, June 19, 2020

The Lost Opportunity

I and my realtor went to see a property which has been on the market for a long time. I suggested that to her! I wondered why a good house like that would not sell quickly and I was ready to make an offer. A detached home with double garage next to it and a nice small backyard and a nice front yard with beautiful flowers in a nice neighborhoods. Who wouldn't want that?! 
The realtor thought the next building, which is not residential and have a big parking lot is the issue. To me that was not the issue. Then during the viewing a number of issues were found: Old heating system, a sort of piping, at parts of the house which based on the realtor's experience would most likely cause issue, lack of a number of major appliances and a few minor issues. I still was ready to make an offer until the realtor decided to call the sellers realtor to ask about the piping and other issues. It was then found out that the current owner, if we call them(!), owed a huge amount of money on the house and had decided to sell it. The money was so big that the previous offer had been rejected solely because they would not have been able to cover their debt! That's why they would not accept any offer, including mine, which was below the asking price! Basically it was a waste of time because there was no room for negotiation while the property have issues. It was very disappointing because I really like but that was it. The realtor also believes that the resell value of the house is low due to its design but that was okay for me. The living room was small and there was no dining room. The kitchen didn't have enough room for a family dining table. While these could all be issues for a family of even three, I would perfectly fit in but we didn't even offer anything because we knew the seller would not accept our lower-than-the selling price offer. 
(Photo: People at times make their front yards so nice that you like to stop and watch it for a few minutes. The house was not as beautiful of this one but was pretty nice)

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