Life...Fun and Kentucky Real Estate

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Contingent Upon Touring The Seller's Home

  •  In the land of contingencies there are many to choose from.
  • Such as:
  • Contingency to sell your home before you close on another.

Contingent upon buyer obtaining proper financing.

Contingent upon seller to pay X amount toward buyer's closing costs.

Contingent upon a satisfactory home inspection.

Contingent upon the house appraising at purchase price or higher.

Yada, Yada, Yada.......

Many of my buyers are from out of state and make plans in the near future to come check out the listings I have sent them.This all takes a considerable amount of researching both the buyers and the listings to find the perfect home. Usually, they are very excited about visiting our beautiful state. 

Local buyers get in the car and get over there fast to check out the property so they can be the first ones to get an offer in. In our area, home sales have only dropped 11% compared to at least a 24% nationwide average. I have still had to present offers in a multiple offer situation this year. 

I have one client that closed and moved into a house sight unseen. Only pictures and a few phone calls after I toured the home sufficed for them to write an offer. Nice properties priced right don't stick around.

I do know of an agent that wrote an offer for his client"Contingent upon touring the seller's home". It was newly listed and he knew that numerous agents had called the listing agent to make appointments to view the house that day.  His offer was accepted and his client got the house. The other agents didn't have much of a chance. Many of their clients were not prepared to write an offer on the spot without more research. 

Many times I have to try to find a replacement house after the out of town buyers get here and the home they were fixated on the Internet so long is already under contract. I'd love to write an offer for them"contingent upon touring the seller's home" if I know it is perfect house for them and they will be here soon.

Hey....did I just wake from a dream? I thought I had found just the perfect house for you...

 

 

Disclaimer: The opinions expressed by The Activerain Network and it's members and those providing comments are theirs alone, and do not reflect the opinions of Lizette Fitzpatrick and Prudential Don Foster Realtors. Lizette Fitzpatrick and Prudential Don Foster Realtors are not responsible for the accuracy or content provided by The Community.

Comment balloon 37 commentsLizette Fitzpatrick • July 04 2007 03:27PM

Comments

Lizette,

Congratulations on your feature! Whatever works to get the job done! :)

Posted by Suzanne Sands, Somerset MA Real Estate (Pavao Real Estate) about 11 years ago
I just placed one of my listings pending - the buyers agent showed the home to a trusted friend of the buyer and they wrote the offer sight unseen. It's the first (and maybe the last) time I have been involved in a long distance transaction and there is no contingency on viewing the home. I guess they really trust their friend.
Posted by Jay Wurlitzer (Distinctive Realty) about 11 years ago

Suzanne - It's the first time it has ever happened. I'm shocked...now I am no longer in stealth.

Jay - That's great! Thanks for the comment!

Posted by Lizette Fitzpatrick, Lizette Realty,Lexington KY MLS - Kentucky Homes - (Lizette Realty - Lexington KY - Richmond KY) about 11 years ago
I'd be afraid of buyers remorse.  Of course, it has worked for you and that is great.
Posted by Rosemary Brooks, The Mother & Daughter Realty Team (BMC Real Estate - 209-910-3706) about 11 years ago
That's how I bought my townhouse (of course I knew all about it to begin with) because there was a tenant who was not being to cooperative with the showings. My husband and I viewed it 7 days later...all was good and we continued on!
Posted by Celeste "SALLY" Cheeseman, (RA) AHWD CRS ePRO OAHU HAWAII REAL ESTATE (Liberty Homes) about 11 years ago
Buying unseen. Quite a sell! Ah, the good old days! Great featured post.
Posted by Gary L. Waters, Broker Owner, Waters Realty of Brevard, LLC, ... a small office, delivering big service! (Waters Realty of Brevard, LLC) about 11 years ago
The Buyers were lucky to have an agent that could think effectively to get them the house they (might have) wanted. This is the type of things that puts him above others. Thanks for the post.
Posted by Wayne McMullan, Quinte Real Estate (Royal LePage ProAlliance Realty) about 11 years ago
What's a multiple offer? There was such a thing here recently... at first we all thought it was because the house was underpriced. It wasn't. It's been some time since we've been able to say "buy this now and make it contingent on you getting here immediately." Thanks for sharing.
Posted by Gary Bolen, CRS - Lake Tahoe Real Estate Information (McCall Realty) about 11 years ago
This is a difficult situation and you take your chances as a listing agent.  If there are other offers you would be in a much better position to take them and if there are no other offers I would give a time limit for the buyer to come and see the house as this can back fire.  In my opinion an offer with a contingency to see the house is more of a non-offer.
Posted by Miriam Bernstein, CRS, New Orleans and Surrounding Suburbs Real Estate (New Orleans Property Lady, LLC) about 11 years ago
Lizette, wonderful post!  I believe I would trust someone who knew exactly what I wanted to make a decision for me on a home if I had pictures as well.  It was a first for you but hopefully not a last....what a great story!
Posted by Laura Cerrano, Certified Feng Shui Expert, Speaker & Researcher (Feng Shui Manhattan Long Island) about 11 years ago
Lizette--Wow! Interesting post...I wouldn't believe it could happen often but that it happens at all is amazing!
Posted by Teri Eckholm, REALTOR Serving Mpls/St Paul North & East Metro (Boardman Realty) about 11 years ago

I have no hesitation selling a house sight unseen.  We've sold half dozen of them in the last 5 years or so.

Good job. 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) about 11 years ago
I've done a couple of offers contingent on either the buyers seeing the house or on a trailing spouse getting here to see it.  Sellers seem to understand and savvy buyers know that paying a couple thousand premium dollars for that benefit can be worth not losing the house.
Posted by Leigh Brown, CEO, Dream Maker - Charlotte, NC (Leigh Brown & Associates, RE/MAX Executive) about 11 years ago

I found and bought a condo for my mother-in-law in Akron, Portage Lakes, Ohio. She lived in Phoenix for 45 years and was coming back to family. We closed and paid for this condo, sight unseen; my first one and my mother-in-law to boot! She loved it and is very happy, thank the good lord. Regards all, DavidC, & still loved by my wife!

USA

Posted by David M. Childress, I would love to be your Realtor® in Akron Ohio! (Howard Hanna Real Estate Services) about 11 years ago

We sure have all kindes of contingencies. We work through them all with smiles.

Posted by Ron Hackett, CRS,GRI,ABR,SRES,e-Pro (Coldwell Banker Heart of the Hills) about 11 years ago

Rosemary - I'm lucky to have such wonderful clients.

Sally - You trusted your intution. Thats why it worked out so well for you.  

Gary - The good old days are still here...they just don't happen everyday. Thanks for your comment!

Miriam - Good point! The agent showed the home within hours of the offer and I believe it was full price.

 

Posted by Lizette Fitzpatrick, Lizette Realty,Lexington KY MLS - Kentucky Homes - (Lizette Realty - Lexington KY - Richmond KY) about 11 years ago

Carole - I agree with you on that one. You and I are in tune with our intution too! I hope to have many more like this as the years roll by.

Teri - Yes, it's truly exciting and fun to work with clients that trust me.

Lenn- You've got it going on! It's teriffic that you experience this also!

Leigh - I'm with you on that. Most seller's know it will work out.

David - You sound like you got some good deals there. Thanks for stopping by!

Ron - You have a fantastic attitude. I bet your clients love you!

Posted by Lizette Fitzpatrick, Lizette Realty,Lexington KY MLS - Kentucky Homes - (Lizette Realty - Lexington KY - Richmond KY) about 11 years ago

Lizette,

Ain't life grand, when you can think outside the box? Congrats on the sale... I had a similar situation about 12 yeas ago, when the internet was just up and running... I had a home sell where the buyer bought it from the virtual tour... He DID send his agent over to verify that there was no trick photography, but the first time he even walked on the property was after the closing. We were ALL blown away by this - now it happens alot...

Posted by Patrick Harfst (United Brokers Group - Gilbert AZ) about 11 years ago
Lizette - great photo and a wonderful post!!  Congrats on getting featured!!  I look forward to seeing more of your posts on the cover of AR!  Here's one...Contingent upon Seller and Buyer agreeing to all items of the contract and removing all Contingencies!!  LOL!!  actually ROFL!!  :-))
Posted by Brad Andersohn, ActiveBrad - 707.646.1876 (Director of Education & Industry Outreach at eXp Realty & RE Tech Campus) about 11 years ago
Congrats Lizette on the Feature! You deserve it!
Posted by Joan Mirantz, Realtor, GRI, CBR, SRES - Concord New Hampshire (Homequest Real Estate) about 11 years ago
Good post.  I've had one or two of those sales where the buyer bought sight unseen.  So far, they've been happy.
Posted by 1 ~Judi & Don Barrett & Chassy Eastep - Integrity, BS Ed, Integrity Real Estate Services -IDABEL OK (Integrity Real Estate Services 118 SE AVE N, Idabel, OK 74745) about 11 years ago
Great Post!  I called my mother in law about a 15 unit building, she was looking for rental units, I told her about the building, she told me, go for it make the offer.  She was leaving for Ireland the next day, so she stopped by on her way to the airport to take a peek....she is thrilled with the building many years later!
Posted by Kim Murphy, Mortgage Loans in DuPage, Kane, Cook, Lake, Will C (Draper and Kramer) about 11 years ago
I, too, have sold a house, and two vacant lots - sight unseen with a similar contingency - mine was more like upon buyer's approval of purchasing the home or lot upon viewing the home or lot (whatever the case may be).  Of course, there were some timelines tied to just how long the buyer could take to view the home and make a decision one way or the other.  Also, there was a kick-out clause from the seller that if another offer came in before the buyer made it into town to view the property, then the timeline for the buyer was accelerated.  Does that make sense?  If not, let me know and I'll explain it better.  Great post.
Posted by Donna about 11 years ago

This happened to me with an out of town buyer who didn't find anything and was leaving town when a brand new listing came on the market that wasn't being shown until the following Sunday. I made the offer with the same contingincy. The sellers agent would not even consider the offer until my buyer saw the place. My buyer stayed another day saw the place confirmed the full ask offer all cash. Sellers agent still would not accept the offer. They kept showing and showing shopping our offer until they got another offer and then finally called to see if my buyer would go higher. My buyer was furious and so was I.

In new construction the buyer rarely gets to see the property ..it is not built yet, they buy off a brochure and floor plan. Many of the new developments here don't allow any contingincies.

Posted by Mitchell J Hall, Lic Associate RE Broker - Manhattan & Brooklyn (The Corcoran Group) about 11 years ago

Patrick - I bet that was quite a moment for you! I hope we can have more of the same.

Brad - I love your contingency. I think I will steal that one to use on my next client offer to make the selling agent's head twirl around and pop off!

Joan - You are such a sweetie!!!!!!!! Thanks!

Judi- One might show up on your doorstep when you least expect it. 

Kim- She was smart to trust your judgement. I bet you two are good friends now also.

Donna - That does make sense and I do see how it could be written like that. Great point!

Mitchell - Stuff like that makes me angry too. It's no wonder some agents make us all look bad. Thanks for sharing!!!

Posted by Lizette Fitzpatrick, Lizette Realty,Lexington KY MLS - Kentucky Homes - (Lizette Realty - Lexington KY - Richmond KY) about 11 years ago

Lizetta

I avoid commenting to posts that are esoteric to your profession.  It wouldn't be right since I really am an outsider.   I'm simply stopping by to congratulate you for the featured post.

 

Posted by Ed Rybczynski, Your Source for Local Real Estate (Integrity Real Estate) about 11 years ago
Ed - I'm always thrilled that you stop by! You are hardly an outsider to me. I appreciate all your comments on my blogging.
Posted by Lizette Fitzpatrick, Lizette Realty,Lexington KY MLS - Kentucky Homes - (Lizette Realty - Lexington KY - Richmond KY) about 11 years ago
Lizette - my contingency is your contingency!!  LOL!!  Just go easy on those selling agents in your area, although the temptation may be great!!  :-)
Posted by Brad Andersohn, ActiveBrad - 707.646.1876 (Director of Education & Industry Outreach at eXp Realty & RE Tech Campus) about 11 years ago

Lizette,

Congratulations on being featured. I have to agree that you do have to establish great rapport with a customer for them to buy the property without looking at it first. Personally, it happened 3 times in my career. In all the 3 cases, there was a similar pattern: I knew what buyers wanted and did not want, we had clear lines of communication, and it was a great deal price-wise...

Posted by Anonymous about 11 years ago

I also closed on a deal this past May with some clients I obtained via the internet from Germany.  They happened upon my website and called me up. No one else would return her calls she said. The husband was in the German military for 35 yeares and retiring.  I never met the buyers in person (only pictures they sent) and we had 1-2 hour conversations by phone some days.  They didn't see the house until after signing a mail-away closing once they entered the states (no contigencies to see it first) I  took several pictures of the homes/street views/you name it and they came to trust me. The mortgage broker involved is the best in town too which helped any possible trust issues go away. I got a little anxious the day they were to arrive but they were more than satisfied once they saw their new home....whew!  Sooo...It can be done.

The best of luck to you...

Posted by Bill Baptista about 11 years ago
Congrats on your star - and if you do not mind - I will use this idea for a localism post - you see - what we call preview contingencies are almost as popular as financing contingencies here.... I never thought to explain it till I read your wonderful post - thanks for sharing.
Posted by Thesa Chambers, Principal Broker - Licensed in Oregon (Fred Real Estate Group) about 11 years ago

Brad - You always bring liquid sunshine to my blog!

Bill - What a great story. I don't blame you for being a little nervous when they finally arrived. Those were some long hours to be on the phone!

Thesa - I'm flattered you will share this idea! I like the name of "preview contingencies".

Posted by Lizette Fitzpatrick, Lizette Realty,Lexington KY MLS - Kentucky Homes - (Lizette Realty - Lexington KY - Richmond KY) about 11 years ago
Lizette: Its a good dream and that's all that counts.  Thanks for the post, its bookmarked.  Good information and reminder.
Posted by Rosemary Brooks, The Mother & Daughter Realty Team (BMC Real Estate - 209-910-3706) about 11 years ago
Wow!!  That is some trust to buy a house sight unseen...from pictures and you taking a tour.  Did you take additional pictures or video to send in addition to what MLS offered?  I'm just in awe of this story...
Posted by Susie Roscoe, Real Estate Specialist | Brandon, FL (Signature Realty Associates) about 11 years ago
Some people will buy a house without even seeing it. A lot of selling from the agent will obviously help that out. "buy it now before somebody else does". Great post and I cant believe i heard multiple offers on a house WOW!
Posted by Adrian Alvarado, Inland Empire Real Estate (MGR Real Estate Inc.) about 11 years ago

Rosemary - The dream is alive and well over here! I hope you get to see one too.

Susie- I did take a few extra pics of the street in front both ways and the views from the back deck. I wanted them to see what would be around them. They have turned into good friends and have purchaced an investment duplex since they arrived also.

Adrian - It's cool that some people feel they can actually trust in this day and time. I think people can tell a lot about you if they have good intuition. Yeah...I know not too many areas are still seeing those multiple offers. I like to win on those!!

 

Posted by Lizette Fitzpatrick, Lizette Realty,Lexington KY MLS - Kentucky Homes - (Lizette Realty - Lexington KY - Richmond KY) about 11 years ago

For those out of town clients, in addition to the photos & videos you take, why not provide some aerial photo links ( so they can zoom in and out and move around) from places such as:

Microsoft Terraserver

Or

 Google Map Satellite photos

Is that your car pulling into the driveway, Lizette.

I like the new picture.  Reminds me I need to update mine one of these days.

Posted by Erby Crofutt, The Central Kentucky Home Inspector, Lexington KY (B4 U Close Home Inspections&Radon Testing (www.b4uclose.com)) almost 11 years ago

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