Seller: Sonya Brown
The home: A five-bedroom, three-bath home built in 2006
Where: Douglasville's Ashworth neighborhood
Why she sold: When Brown bought the home for $195,000 in 2007, she knew she was stretching her budget. She anticipated receiving pay increases over the next few years, but the recession hit. As a teacher, she had to take furlough days with no pay, and no salary increases were in sight, she said. "I was living off credit cards just to pay for necessities," she said. Tired of being overwhelmed by the mortgage, she contacted Oscar Melara of Re/Max Pure. "I had seen what he had done for others in my subdivision, getting them up from under a bad situation," she said. "I had nothing to lose." Still, she didn't know whether to start packing or to wait.
Time on market: Six months
Original price: $160,000
Sale price: $157,750
What it took
Brown got rid of clutter and then staged the home, using accent pieces such as bowls and small sculptures that she purchased at a Goodwill store. Before every showing, she cleaned the home, wiping down the countertops and around the faucets, vacuuming and mopping the floors. “I tried to make it as immaculate as possible,” she said.
In a couple of weeks, she had multiple offers, from investors. The first offer had a number of stipulations attached to the contract, so Brown’s agent advised her to select an offer with fewer conditions that would need to be met to close. The short sale prolonged the process since the bank had to accept the offer. “It’s a lot of paperwork and a lot of patience and a lot of waiting for the bank to approve you,” she said.
Potential stumbling block
The timeframe was tight. Brown received the short sale approval letter from the bank on June 27 and the closing would happen within 30 days. Brown needed to move out two days before the Aug. 4 closing, acccording to the contract. She hired a mover who quoted a rate of $140 an hour, but when he arrived, he said he needed $1,400 in cash. She found another mover, but missed the confirmation call when she had to go to the emergency room for a broken right wrist (she injured it while sweeping the garage). The second mover did not arrive. At the last minute, Brown secured a moving van through 4 Seasons Moving and Storage in Lithia Springs, which she had driven past on trips to Atlanta, and worked with The Movers Choice in Kennesaw.
Seller’s hint
Make your house look its best, even if you are in an area where investors are buying. “If you show it dirty, an investor feels like they can offer you less,” she said.
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