I recently bought a home in Orange County from a wonderful lady. She was not in foreclosure, norwas she in financial distress. Her home in Orange County was in a very nice and well-established neighborhood. So many people ask me why someone would sell their home to me instead of the traditional way (with a real estate agent). So, I will let you know why she was interested in selling her Orange County home to me.
First and foremost, she did not want to list it with a real estateagent. Also, she did not want people coming through her house on a daily basis, nor did she want to give-up her weekends at home by having to leave all day during the open houses. She enjoyed her life and didn't want the invasion. I can respect that.
Secondly, she knew that selling her home on the MLS could take a very, very long time. She was ready to move on because her kids were grown and she no longer needed such a large house. The idea of waiting a long-time to close escrow was not appealing to her. And being in a higher-end area, she didn't want to run the risk of falling out of escrow or having an extra long escrow.
Lastly, she did not want to remodel her house to get it in perfect "move-in" condition. In today's market, houses need to look their absolute best to sell fairly quickly and for a good price. For this home seller, that would mean pouring money into something without knowing if the return on the investment would be there. And she is right. If you look at the return on investment for basic home remodeling jobs (such as paint, new windows, new kitchen, new bathrooms, etc.), the return is less than 100%. So why would you want to risk investing $100,000 to remodel your house, if you may get only 70-80% in return? Go figure.
Long story short, this seller sold her Orange County home to me. We closed escrow in 1 month, but we could have closed much sooner. She wanted to coordinate moving with better weather, as it was still snowing where she was going! Everything went very smoothly. And best of all, she got to move to a great house in the mountains!
I enjoyed meeting this seller so much. She is a great lady and I'm glad we had the opportunity to work together. I wish her all the best!