This was a residential retail transaction wherein we represented the seller. The property was listed for $284,990 and with only 5 days on market we were able to solicit 7 offers and a contract at $310,000. The appraisal came in at $295,000. However, in negotiating the contract, we were able to solicit a waiver of the appraisal contingency. We closed escrow in 32 days at the contract price of $310,000. The seller was thrilled to say the least!
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This was an investment project - our first! We purchased the home for $67,400 and completed an extensive renovation. The process was grueling and took longer than anticipated (more hands on work than we care to ever do again) but the end result was remarkable and we were able to resell the property for $182,000 after only 35 days. A big win in the end!