Monday, August 23

Contract on the Rental House


Good news (at least, I hope!). Late last week someone submitted a contract for the house I have for sale. This came just 11 days after I listed it and the offer was just shy of 95% of my asking price - an asking price which my agent suggested might be too high.

I know not to count my chickens before they hatch, but with closing scheduled before September 22nd and a buyer with pre-approved financing, I am very optimistic. How'd I do it?
  • The house was immaculate. Even though it was just four years old, I had new carpet installed and personally repainted most of the house. I also detail-cleaned the place, all the way down to scrubbing the grout between the tiles in the kitchen and bathrooms.
  • I made a good first impression. I invested a fair amount in new landscaping, fertilizer and sweat equity to make the front yard look inviting. I also bought a nice welcome mat.
  • I did a few small things inside to spruce the house up. I bought new white towels for the bathrooms, a new shower curtain for the shower, and obtained expensive soap from the Hyatt (that's a picture of it above...it's my favorite).
  • My agent was extra aggressive for me. She called agents she worked with before (which ultimately lead to the sale), sent a mailer out to the neighborhood, and created a unique website for my house.
With luck, I'll be out from under this place and on my way to buying my next, albeit more modest, rental property by the end of September.

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