On the first day we listed our home on the Little River we got an offer. The offer was $11,000 more than the asking price. There was another buyer waiting to write a contract standing on the porch of our house while this initial contract was being written inside the house. We accepted the contract. The potential buyers were from Richmond, VA. Both are real estate brokers.
In North Carolina the potential buyer can back out of the deal at anytime during the “due diligence” period and keep their earnest money. During this time, while this house was off the market, the Richmond couple backed out because they felt the taxes on the property where too low. Odd, I like low taxes and had hoped to keep them low as long as possible. We put the house back on the market.
To avoid anyone else thinking our taxes are too low we contacted our local tax office. The taxman came and did his job. Taxes will increase for 2018.
A few weeks later we received another offer, this time $5000.00 over asking price. We accepted. The house was back off the market. During the “due diligence” period this buyer, also from Richmond, decided she’d rather move to Costa Rica and withdrew her offer. Her earnest money was back in her hands. We put the house back on the market.
We had one person that knows the area who drove here from Richmond to see our property. She loved the house and wanted it. It would an easy deal for her and her husband. Her husband, a city boy, squashed the potential sell.
The real estate market is sort of asleep from Thanksgiving to New Year. After that, around here things pick up. Just before New Year, we got another offer.
That offer was a contingency against the sell of the buyer’s current home. She wanted a “due diligence” period of nearly two months. She wanted the house off the market while she sold her home knowing that because this is North Carolina she could back out at any time during that period. We’d have the house off the market and from experience earnest money means nothing here. We didn’t accept that deal.
Over the past fourteen weeks that the property has been on the market it has been shown 14 times. Of the people that looked at the house 21% of them wrote a contract. The house has been off the market twice being “under contract”. Under contract does not mean we can’t or wouldn’t consider other offers. It means that real estate agents are going to bother showing the property.
We’ve owned and sold eight houses. Every time we received a contract on those houses we accepted it and the property sold. One statistic on real estate showings and contracts written is ten showing per one contract. We’ve certainly exceeded that ratio. The price isn’t an issue since 2/3 of the offers we’ve had were above the asking price. In fact, we paid for independent appraisal, which resulted in a property value $9000.00 above our asking price.
The real estate market here isn’t what we’ve seen in the past. I admit I am glad we have no mortgage on this house and we’ll not have one on the new house in Georgia. If this North Carolina property where 200 miles closer to our new home in Georgia I’d keep it.
When this house does sale someone will be getting a piece of paradise.