Before I got into the real estate business, I purchased a home from a fairly new real estate agent. I spent many hours driving around myself so I didn't take up much of his time. After about two weeks, I drove up to the ugliest home I'd seen.
It had been on the market for almost a year and was getting ready to be foreclosed on. I remember this because we received Homes magazines from Springfield about a year prior to retiring from the military. I recognized this home and remembered it because the price was never lowered. The inside of the home was great. Lots of room with an unfinished basement, acreage, close to Springfield.......everything we wanted. I made an offer and low and behold, they accepted.
I didn't do a home inspection. The day of closing I contacted my agent to do a walk-thru and he said he was too busy, but would meet me at the closing company. But he called and said the homeowners came in from out of state and were moving out. I could do my own inspection.
Walk-thru was a little uncomfortable, but the sellers allowed me in. I was shocked to see so much missing.......all the miniblinds, soap dishes that were attached to the wall, ceiling fans, muttons out of the windows, garage door opener, etc. Thanking the sellers, I left without saying anything. Not sure what I should do, I called my lender, explained the problem and he said he would take care of it at the closing table.
The lender was true blue! He assembled the sellers, realtors and myself in the same room and explained what I had told him and that we were not closing until everything was returned and installed in the home. The sellers were furious! My realtor was shocked! I found out the sellers had sold most everything, much could not be replaced. The sellers agreed to make a price adjustment for most of the items. My realtor's Broker agreed to replace all the ceiling fans. Not a happy ending for everyone, but one I will never forget.
This lesson stayed with me and remains one of the stongest points we stress to buyers and sellers when listing and selling real estate in the Springfield market.
Kay Van Kampen is a local Realtor serving Springfield, Ozark, Nixa, Rogersville, Republic and surrounding areas in Greene, Christian and Webster Counties in Missouri. She is ready and available to help you with all your Springfield Mo real estate needs. To contact her go to www.kayvankampen.com. If you would like a free list of homes for sale in this area/neighborhood, would like more information about Springfield, Ozark, Nixa, Rogersville, Republic, Willard and surrounding areas or would like to be the first to know about hot new listings before other buyers do, then give me a call at: 417.839.4534.
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Distressed Property Versus Regular Sales
