A Day In The Life Of A Boise Realtor – Part V
Busy day yesterday with my buyers.
Wrote the offer around noon after looking at two homes to confirm that my buyers were making the right decision.
The listing agent presented the offer and got it accepted, as written, and I got word by cell phone as I was on my way down to Alive After Five.
For those of you who aren’t familiar with Boise, our vibrant downtown area hosts Alive After Five every Wednesday evening (during summer months) at The Grove ~ a beautiful outdoor plaza with water fountains for the kids to play in, with live music, food, drinks, etc.
It’s one of our local gathering spots and there are often 1,500 or more people there each week.
Anyway, after calling my buyers to let them know their offer had been accepted, we locked their loan and I confirmed that their home inspection would be done today.
Here’s how the deal worked:
Asking price was $336,900 and builder was offering $12,000 in buyer incentives, plus $3,000 in buyer agent (bonus commission) to me.
We offered $320,000, $5,000 earnest money, with no seller-paid incentives to the buyer or me.
It is my policy to pass through buyer agent incentives above 3% selling commission to my buyers; I will not allow sellers to “buy me” with bonus commissions.
Other terms included 20% down, 80% conforming loan totally pre-approved by Countrywide prior to buyers’ arrival, and a closing date of 9/28/07, and buyer and seller paying their normal closing costs.
This is a win-win deal for both buyer and seller (the only way I will do business). My buyers are getting a good buy on a terrific home that is located within easy walking distance to the brand-new elementary school in Paramount (they have three young boys), and the seller gets another home out of his spec home inventory.
The house is 2,554 square feet, 4BR, 2.5 BA, office, bonus room, Energy Star Compliant, and built by one of Idaho’s very few Registered Master Builders.
Next up is the home inspection this afternoon, which will likely turn up only a few minor issues. The builder, Capitol Building Company, is one our finest builders and will correct anything my inspector finds.
In fact, Capitol Building Company even kicks in a $200 credit toward the buyer’s home inspection at closing ~ they WANT the buyer to get a home inspection ~ transparent business practices at their best, right?
August 30th, 2007 Posted in Uncategorized
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