For this townhome I sold in Fremont for $685,000, I was the agent for the seller, who I actually sold this home to back when he bought it over 10 years ago! Prepping the home for sale was the biggest challenge in that the seller needed to replace the upstairs balcony, because he said it was not safe. I advised and he agreed, that it was pretty much a necessity to replace the balcony before selling, especially because there is a HOA involved. We felt that no buyer would want to take on the job, so best it be done before selling the home. The job itself performed by the contractors took only about a week, but waiting on the city for permits, that took about 6 months for the entire process to finalize. The city is insanely slow. The job cost about $20,000-$25,000 to include the job itself and plans. It was very disruptive, in that the contractors have to run the boards inside DOUBLE of what the balcony is on the outside per code, so a huge portion of the ceiling was torn apart. But, the buyer had the luxury of getting a brand new balcony, new large portion of ceiling, new texture and fresh paint.
We had multiple offers for this home and the 2 top offers were SUPER close, basically, practically the same offer with different names. It was for the most part a dice roll, but the seller went with the offer in which the buyer’s agent had more experience, and the buyer seemed really eager and excited to own this home and already was familiar with the area because he rented a place down the street. So, we just had a good feeling with this buyer that he really was genuinely excited to own this home and seemed like a really good fit. For this offer the seller accepted, the buyer had waived ALL his contingencies (loan, appraisal, and inspections) and came in well OVER the list price.
The transaction itself was super smooth. The only ‘hiccup’ is that we thought the buyer was single and he was the only name on the contract. Come to find out, he had a wife who was currently out of the country. Apparently, the buyer didn’t realize that in CA you can’t buy property without a spouse, unless the spouse signs a form to allow it. So, luckily, the wife was coming to CA and was able to be here in time and be added to title and sign the paperwork. There was a bit of delay for closing, but only a couple days.