Thursday, March 22, 2012

1070 TIMBERCREST DRIVE - Evaluation

1070 TIMBERCREST DRIVE - Evaluation
4 bedrooms, 3 1/2 baths, 2,595 sq. ft. on a 5,809 sq. ft. lot.
Listed for Sale at $975,000

Nice looking newer home in Shadowbrook.

Nice wood flooring. Very unique.

Kitchen with center island, though it doesn't feel as large as these photos make it appear.
There is a utility room off the living room which is convenient, yet I'm not sure if that's the best location for a washer and dryer. This home does have a downstairs bedroom and master bath which is ideal for inlaws. Another feature I look for in a ground floor bedroom of a 2 story home is if the bathroom shower or tub is easily accessible for seniors. In this case, they hage a stall shower with a low step in so they got that right. This house also has an elevator which is certainly helpful for the disabled, buit might not be a good fit for just anyone.

Master bedroom has some nice features in the ceiling architecture. The 2nd  story has lots of windows making this a bright, cheerful house. You may get a slight road noise from Almaden Expwy. with the windows open. You have a nice view of the farmhouse next door.

The yard is interesting. The back side of the home is very close to the fence. I'm actually surprised to see this because there are typically setback requirements imposed by the city that prevent builders from being so close to the rear fence. This causes the back yard to be broken up into 2 half yards, if you will. Both are somewhat small though these pictures make it appear larger.

Overall a very nice custom home with some unique attributes, but also some quirks. I believe there is a limited buyer pool for this particular property at the present time. Gary Nobile, Realtor, MBA

AIDS Disclosure

AIDS Disclosure for Sellers. Let's suppose you have the unfortunate situation where someone dies of AIDS while living in a home you own and are selling. Do you have to disclose that fact to the buyer? The answer is it depends. You do not legally have to make this disclosure as part of your typical disclosure package. If someone dies of any other cause within the past 3 years, you must disclose it to a potential buyer. If someone dies of AIDS, you only have to disclose it if they specifically ask about an AIDS related death. - Gary Nobile, Realtor, MBA  http://www.garynobile,com/

Tuesday, March 6, 2012

Counter Offers Choices for Sellers

I recently ran across this situation while representing a husband and wife (Sellers). We received an offer from a buyer. After careful consideration, the Sellers decided to counter the buyer's offer. The counter offer contained some cleaning up of the buyer's original offer (identifying the title company and Natutal Hazard Disclsure companies to be used) and also included language to shorten certain contingency time frames the buyer was asking for. All in all, it was a very reasonable counter offer. The buyer came back and countered our counter offer asking for something else in return. While we were in the reviewing stage, another buyer submitted a different offer, which I promptly presented to the seller. The terms were better and it didn't require the cleaning up of the language that the first agent had failed to clarify. The Sellers had some choices here which I will point out. 1) The Sellers could accept the first buyer's counter offer. 2) They could counter the second buyer. 3) They could accept the offer from buyer #2. 4) They could respond to both with a multiple counter offer.

The questions becomes, if the Sellers decide to counter only buyer #2, can buyer #1 come back and accept our first counter offer and lock out buyer #2 even if buyer #2 has a better offer? The answer is: No. Once a buyer gives a counter offer back to a seller, it cancels the seller's obligation of his prior counter offer. Sound confusing? As a buyer, make sure you know that if you upset a seller in negotiations that you can't go back and say, "oh, I was just kidding, I'll accept your prior counter offer". It's completely the seller's choice at that point.

In this case, that was exactly what happened. The Sellers countered the second buyer. While we were waiting for a response, the buyer's agent for buyer #1 asked us what the status of their offer was. I told her that we countered another buyer's offer. They came back and immediately sent us an acceptance of our original counter offer. I explained to the agent that there's a saying in real estate, "Pigs get fat, but hogs get slaughtered." She said, "What!?" I explained that her buyer got very greedy at the wrong time and now they're probably not going to get the house because there is no legal obligation for the seller to sell once the buyer countered back our prior counter offer. That was an expensive lesson for them. My clients, the Sellers, are very happy to now have a better counter offer accepted by buyer #2. Gary Nobile , Realtor, MBA
(408) 247-4029