Names: Wick Cauthorn, an attorney, and Caroline Watson, a chemist
The home: A two-bedroom, two-bath ranch home built in 1950
Where: Atlanta
Why they sold
The couple felt that the 1,242-square-foot house was too small to accommodate entertaining and having friends stay the night. They wanted to buy a home with more bedrooms and bathrooms.
“It was just difficult for entertaining,” said Cauthorn. “My best friend came into town and we were all getting ready to go out for dinner. My wife was getting ready in one bathroom, and our friend Sarah was getting ready in the other bathroom, and I had to use the bathroom, and that’s when I said, ‘Forget this.’”
Days on the market: 14
Original price: $430,000
Sale price: $430,000
What it took
The couple listed their home in March 2015, during the busy spring selling season. Their Wildwood neighborhood, in northwest Atlanta, was experiencing a seller’s market. Without 72 hours of putting the home on the market, they received two offers on the same day.
They attribute the success to the realistic price point suggested by their real estate agent, Mary Beth Lake with Harry Norman, Realtors.
“If your house isn’t priced right, you don’t even get the traffic,” said Cauthorn.
Cauthorn and Watson also kept their home maintained and updated before placing the house on the market. The couple re-finished the hardwood floors, renovated the kitchen and added a screened-in porch. Watson said they were told the addition of the porch, which also had a TV, was one of the features that snagged buyers in the quick sale.
Potential stumbling block
The couple wanted to sell their existing house before they purchased another home to avoid having two mortgages. But they also didn’t want to have to move into an apartment. The pace of their sale created a sense of urgency that had them feeling slightly rushed to find a new home. However, they were happy with their purchase — a three-bedroom, two-and-a-half-bath home with a sunroom and finished basement. The home in Atlanta’s Collier Hills neighborhood has 2,195 square feet.
But 14 days before closing on their new home in March 2015, they could not get an update from the bank about their mortgage underwriting. Because the couple had already entered into contract for the home they were selling, they were worried they would not be able to close on their purchase and would have to move into temporary housing. Instead, they ended up going through the loan process with another institution, Heritage Bank. They were able to get their loan and close on both homes the same day.
“We joke about it now, but at the time, it was one of the most unbelievably stressful processes,” said Cauthorn. “There were some tears shed because we thought that we were going to have to sell our old house and then move into an apartment.”
Seller’s hint
Continuous maintenance on a home can add value when selling. Cauthorn and Watson kept their home clean and inviting. “A few hundred dollars can add a few thousand dollars to your home,” said Watson.
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