Why Margaret Accepted an Offer on her Teaneck Home Three Days After Listing
Margaret’s Teaneck home was too big for her and she could no longer maintain it by herself. In April 2006, she signed on with a REALTOR®, put the house on the market and decided to move. However, she didn’t receive any reasonable offers.
“I tried advertising, a big sign, and I talked about it with all my acquaintances,” Margaret said. “I made sure everyone knew I was selling my home, so that they could spread the word.”
By April 2009, Margaret relisted her home with another REALTOR®, Arun, and lowered her asking price. She accepted an offer only three days later.
“I understood that market condition warranted a price reduction, although I would have liked to sell it for a higher price,” said Margaret. “I received an offer the first night Arun listed it. Then, I received two more offers the next day. Arun emphasized all the great things that were walking-distance from my house – a bus stop, grocery store, and school – and priced it correctly. We didn’t even have a chance to advertise.”
Arun helped Margaret through the closing process, which moved smoothly until the buyers asked Margaret to put in a new roof at her own expense.
“I was surprised that they asked me to do that,” Margaret said. “I thought it was in good condition and that everything in my home was move-in ready.”
Because she didn’t want to jeopardize the sale, she conceded and had a new roof put in. This made her closing move more quickly and everything was completed in June 2009.
“I understand that the economy is weak and that it’s a buyers’ market,” Margaret said. “I was willing to make the buyers happy.”
Although she knew her home was too big to maintain, Margaret misses having a lot of room to entertain and a big backyard.
“I will miss cutting shrubbery and working with the landscape,” she said.
Margaret is now living in her daughter’s house in Edgewater, taking a break before looking for another home.
“I would like to buy a condo in the future, but I want to rest before becoming a homeowner again,” said Margaret. “I’m not in a rush so I decided to spend some time with my daughter for the time being.”
Margaret hopes to buy a condo in Cherry Hill, so that she can stay between her daughter in Edgewater and her other daughter in Maryland.
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