The Sale
Name: Bobby and Stephanie Morgan. Bobby, 36, is an orthopedic surgeon; Stephanie, 32, is a radiologist.
The home: A three-bedroom, two-bath home built in 1949.
Where: Decatur's Emory Heights neighborhood
Time on market: 21 days
Original price: $225,000
Sale price: $215,000
Why they sold: Their jobs took them to Charlotte, N.C., after Stephanie completed her residency and fellowship at Emory University School of Medicine.
What it took: Before moving in five years ago, Stephanie said a year was devoted to remodeling the home, which included gutting the kitchen and installing marble countertops, travertine tile floors and stainless steel appliances. The project took about $75,000, and it included replacing the siding with Sheetrock, redoing the backyard, finishing the workshop as a detached office and extending the driveway. To get it ready for the market, they touched up the paint, added crown molding, pressure washed the driveway and home's exterior, and replaced one original window. "We did little projects that we knew would help make the house show a little better," Stephanie said.
Another big step was de-cluttering, upon the advice of Hirsh Real Estate Specialists. That meant taking out pieces of furniture and removing pictures and even clothing. They were able to store items in Stephanie’s parent’s attic. “We cleared out as much has we could to make it look as clean and big as possible,” she said.
Seller's hint: Focus on the future. "Even though I took a hit financially – I lost most of what I put into the house – I'm OK with it. No. 1, I was able to make that up by purchasing another house, because obviously those people took a hit. I'm really happy that I don't have to worry about upkeep in a house and paying a mortgage and worrying about if it's OK when I'm not there. That peace of mind is very valuable."
Potential stumbling block: The first offer was a cash offer, but it was too low for the Morgans to accept. They received the second offer a week later, for $210,000. That was closer to the asking price, so they negotiated a $215,000 purchase price. But after the inspection, another $15,000 in repairs was requested, for changes including a new roof and windows. "Of course it upset me because I already knew I was losing a lot of money and I wasn't going to give up that much more. Ultimately, we were able to work it out because I really just sat firm at that point." The Morgans also paid $6,800 in closing costs, included the dining room furniture in the transaction and a $1,000 allowance for repairs. The sale went through in June.
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