My real estate agent Jim Pettigrew was outstanding. He arranged the repairs, painting, cleaning, staging, photography, and coordinated the bid review process so that I had every possible advantage that a seller can have.
But I'm getting ahead of myself. Rewind.
When I moved away from Seattle in 2013, the real estate market was improving, but still hadn't recovered to it's pre-recession values. Zillow valued my condo (purchased in 2006 for $185k) for around $170k. So, I'd have needed to take out a sizable personal loan for the privilege of no longer owning a condo. Not wise. Instead, I hired a rental management company and let someone else pay the mortgage for five years. It sounds more malicious than it really was... I kept the rent low (by Seattle standards), so it was just enough to break even on the mortgage, HOA dues, property taxes, and management fee. My taxes got more complicated, but otherwise, it was money for nothing.
Now with the market in full rebound mode, it looked like a good time to stop the business of being a cross-country landlord. I gave notice to my tenant in November, and he moved out at the end of January. (I didn't want to kick him out on New Year's Eve... that's just mean.) Then we started to evaluate the damage. I was dismayed to learn that his cat had used my closet as a litter box and marking ground... so I had to have flooring and drywall replaced to get rid of the stench. I had to get the drywall and trim behind the toilet ripped out and replaced. I shudder to think how the behind-the-toilet wall got so nasty.
Jim's crew painted every square inch of the place. Replaced light switches and smoke detecters. Polished the floor to hide scratches. Cleaned, and cleaned again. Oxygen filters freshened the air, and the place miraculously turned shiny new again.
Listing Photos
A simple and straight-forward plan, we the listing the condo for $240k on Thursday March 15th. I had ordered the condo disclosure documents in advance, so they were available for potential buyers to review before making an offer. Open house on both Saturday and Sunday. Offers due by noon on Wednesday, March 21st. I'm not used to a real estate market this hot, so I nervously awaited to see if I got any bites.
Well, that was energy wasted on worry. Not just bites... it was a feeding frenzy. Jim and I culled through dozens of offers that night, and carefully selected one that would give us the best chance of a quick successful sale. We chose (well, I did the choosing, but he was happy about it) an all-cash offer with no contingencies... no appraisal, no inspection, no HOA review period... nada. At $45k over asking, and with just 15 days to close. Sight-unseen.
They are a couple from 6 hrs down the Oregon coast who had been looking a long time in this competitive market. I later learned that their realtor is a family member who had seen the condo prior to putting the offer in. They did drive up on Thursday to see it in person, and I think it's safe to say they were not disappointed. (I think WA has a 24-hr "cooling-off" period, so they could have walked away and forfeited their earnest deposit.) They wanted a place to stay when they drive north to visit their Seattle-based children.
In the end, we closed a week early... on March 23rd. It's amazing what you can make happen when you don't need a bank involved. My amazement continues... listed to closed in just 15 days.