Have you ever heard of someone who would risk $200,000 just to save $200? I have, and today I’ll tell you how I managed to get their home sold.
On the latest edition of “Story Time With Gary,” we’re going back in time about 30 years to the late 80s.
Back then, there was this elderly couple I knew who told me that they were never moving from their house in Bay Park here in San Diego. Then, one day, they called me out of the blue and told me they bought a $117,000 house in Arizona. Needless to say, this meant they had to sell their current home, and they wanted to do it for $117,000.
The good news, I told them, was that their house was worth at least $350,000. However, they insisted that they only wanted to sell it for exactly $117,000 so they could cover the purchase price of their new home.
“When in doubt, just do the math.”
I couldn’t let them lose out on that much money, so after some struggle, I got them to agree to a reduced listing price of $335,000. That same day, we managed to snag an offer for that price. While we were in escrow, though, the buyer asked for a $200 repair to be done, and despite the fact that they were about to be $200,000 richer than they originally intended, the couple refused to agree to the repair.
They nearly blew that sale and, in turn, their next purchase—all because of a $200 repair. Fortunately, after doing the math for them, I got them to see the light, and they agreed to the repair so the sale could proceed.
The moral of the story? When in doubt, just do the math.
As always, if you’re thinking of buying or selling a home, don’t hesitate to call, text, or email me. I’d love to help you.
P.S., That $335,000 house is probably now worth around $1.2 million.
