It’s been a hectic last couple of weeks around here. Between getting our house ready for sale, buying a new block of land, building our new house, going to work, operating our online businesses and planning for our holiday (i’m on holidays now) things have been super crazy. I’m so glad that everything is finally starting to settle down and we can get back to some sort of normality.
So, the big news is that we sold our house!
We engaged an agent about a month ago and gave ourselves about 2 weeks to get the house clean and ready for sale. The main thing we needed to do was make sure everything was spotless for the photographs. Once the photos were done the all we needed to do was quickly clean and tidy prior to inspections. I know I just said “all we needed to do”, like it was easy, but it wasn’t. Every time there was an inspection we spent at least 2 hours cleaning the house and packing thing away – it was a lot of work.
The house went to market on the 7th of November, with the first open house scheduled for the 15th of November. On the 10th of November the agent managed to walk 3 groups through in a private inspection and we had a single offer the next day. The offer was quite a bit lower than we wanted, and so I told the agent to tell the buyers that we weren’t interested – especially as we hadn’t even had the open house yet.
That weekend (15th) we had the open house. I sat down the road with Ricky (our dog) watching people come and go. The original people who put an offer to us earlier in the week turned up again. In total there were 6 groups through.
On the 17th of November my agent phones me and says they have someone wanting a second inspection that was at the open house on the weekend. Then later in the day he tells me he has asked an investor to also come and take a look. That afternoon they both come around at 5:30pm and don’t leave until a bit after 6 – quite a long inspection considering the time and the fact we had a very cranky child wanting dinner.
I ended up talking to one of the people doing the second inspection. They were a lovely couple with 2 kids and they made it well known to me that they were interested in the property and would be putting in an offer. That night my agent phones me and tells me that he got an offer and that they were happy to let us rent the house off them until our new house is finished being built, but it wasn’t the couple I spoke to, it was the investors.
About 10 minutes later my agent phoned me again and tells me the other couple has also put in an offer and that we were now in a multiple offer situation. The essentially meant that both parties had to put in their very best offers and we got to pick the one we liked the best.
Both parties increased their offers by between $7,000 and $10,000 – a good result. The best thing for me and my family though was that one of them was an investor and we would be able to rent back off them for as long as we needed to while our new house was being built. The end result being that we don’t need to move twice and we can continue to be comfortable in our old house. The investor was also paying cash and offering a $30,000 deposit, while the other couple had to wait for a property valuation and only offered a $1,000 deposit.
In the end the total price they were both offering was about $3,000 different and we actually went with the lower offer simply because of the ability to rent as long as we needed and also because there was no issues with finance. If we went with the other couple they would be keen to move in sooner rather than later, and they had a higher likelihood of the offer falling through. The risk wasn’t worth the $3,000 payment to me. As they say, a bird in the hand is worth two in the bush.
Time between listing and contract – 11 days.
Now we just wait for building and pest inspection. If that goes well then everything is all settled and we become renters within the month. If there is some sort of property defect, then things may come unstuck, but at this stage I am not aware of anything structurally deficient in the house or any pests – we did just do a termite inspection about 3-4 months ago.
Have you ever sold a house? Was is stressful, did you sell it quickly like we did?