Hello, everyone. Robbyn Battles here from La Crescenta, California. I’m thrilled to share a fascinating story from my real estate adventures – the sale of a property we fondly call the Hobbit House located at 2544 Hermosa Ave. in Montrose. This tale is not just about a transaction but about understanding the nuances of a unique home sale. For a more in-depth exploration, don’t forget to watch my video, “Anatomy of a Sold: The Hobbit House,” where I delve deeper into this intriguing journey.
The Challenge of Selling Off-Market
The Hobbit House’s seller had a specific request: to find a buyer without listing the property on the open market. Why opt for an off-market sale? Many sellers, especially those with unique properties like the Hobbit House, seek privacy and wish to avoid the influx of numerous visitors. This approach can be effective, especially in a strong seller’s market. However, it comes with its challenges, notably in reaching the right buyer.
The Importance of an Experienced Agent
This is where the role of an experienced real estate agent becomes crucial. With over 30 years in the business, my broad client reach and understanding of unique properties were key. Yet, the off-market approach initially did not attract the buyer type we were looking for – someone who would cherish the Hobbit House’s unique character without major alterations.
Transitioning to the Open Market
Recognizing this, we shifted our strategy to publicly list the property, maintaining privacy with no signage and by-appointment viewings. This move was a game-changer. Within two weeks, we received nine offers, all above the asking price, a testament to the property’s unique appeal and the effectiveness of a well-thought-out marketing strategy.
Navigating the Sale Terms
The sale terms were particularly interesting. We settled on a 30-day escrow with non-contingency for inspection or loan. This meant the buyer could conduct inspections, but these were purely informational. The only contingency was for appraisal, and fortunately, the property was appraised at the agreed-upon purchase price.
The Closing Process
Despite the non-contingency, the buyer conducted seven different inspections, adhering to a strict timeline as per our contract. We also negotiated a 29-day rent-back for the seller, a clever move to avoid tenant status while providing the seller with the necessary time to transition.
Understanding the Emotional Aspect
As an agent, it’s crucial to recognize the emotional aspects of selling a home. The Hobbit House was not just a structure; it was a cherished space for the seller. Throughout the process, I ensured that the seller’s needs and emotions were respected, especially during overwhelming moments like the numerous inspections.
This sale was more than just a transaction; it was a journey that highlighted the importance of understanding a client’s needs, the uniqueness of a property, and the emotional aspects intertwined in selling a home.
If you’re curious about the finer details of this unique sale, I invite you to watch my video, “Anatomy of a Sale: The Hobbit House.” It’s a story that showcases the complexities and joys of real estate, and I’m excited to share it with you.
Remember, whether you’re selling a unique property like the Hobbit House or looking for your dream home, I’m here to guide you through every step of the way. Let’s embark on your real estate journey together!
- Your Real Estate Expert in La Crescenta and Beyond
Watch the Video: Anatomy of a Sold: The Hobbit House