Another “Real Estate Coconut” Success Story
November 25th, 2009 | categories: Selling Real Estate in Coconut Grove
The story began when some buyers contacted me from the blog and asked for my assistance in helping them find a home here in Coconut Grove. They were originally interested in my Matheson Avenue listing but upon seeing it told me that they really wanted something more “Grovey”, with more land, and priced in the low $500k’s.
A few days later, an associate in my office mentioned to me that her Battersea listing (priced at $749,000) was now a short sale. I knew right away that it was THE property for my clients and took them over to see it. They immediately made an offer.
Due to the fact that the property was a short sale and that the tenant living in the house had a “right of first refusal” we knew ahead of time that it would not be an easy transaction. The right of first refusal was a contract between the tenant and the owner/landlord that the tenant had a right to match any offer presented by a buyer.
After waiting several weeks, making many calls to the lawyer, and suffering through many missed deadlines (on the seller’s part), my clients finally received notice that the tenants would not be exercising their right of first refusal AND received notice that the bank had approved the short sale. Having all of the details wrapped up, we closed on the house last week for $525,000.
An interesting twist to the story is that 3 years ago this same house was listed at $1,350,000. I had a client (a builder) who made an offer the first day it came on the market at a price of $1,300,000. He was interested in splitting the lot and building two separate houses. The sellers turned his offer down. Hindsight is 20/20 as they say.
After all was said and done, the current buyers are thrilled with their purchase and I am happy to welcome them as new Coconut Grove residents!
Details on 4035 Battersea Road:
- 2,085 Sq. Ft. Living Area
- 13,000 Sq. Ft. Lot
- 2 bedrooms/2 baths
- List Price: $749,000
- Sale Price: $525,000
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If you are interested in buying or selling real estate in Coconut Grove, please give me a call at 305.342.1623 or send me a note here.
This is a great post, and very encouraging to others in the real estate community that Blog! Fantastic!