Seller Case Study – Pine Mountain House #1
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We were contacted by a woman wanting to sell a flooded Houston home out in Bear Creek Village in late November 2017. The seller had lived in her home for 23 years, and when the Addicks dam was released in Harvey, her home took on 4.5 feet of water.
Multiple House Buyers had approached her in the months after the storm and made numerous offers that amounted to little more than lot value. She wasn't sure if she was going to rebuild or sell, but after mucking the home and seeing the amount of devastation the flooding had caused, she decided on the latter. So she reached out to us and asked us to make her an offer on her home.
Meeting with the seller
We met with her at the house and toured the property. It was a sobering scene as the water line on the windows spoke to the amount of flooding the home had received.
Volunteers had mucked the home and weren't sure if they should have removed the sheathing between the brick and the studs. They decided against it, and that decision would later result in a mold issue in the home, unbeknownst to both the seller and us.
The Seller had paid off her home with her FEMA payout, but she was in a tight financial spot with paying rent on the house she had moved to and the impending taxes and HOA fees on her flooded home.
Before photos
Making the offer
After our tour and some discussion, we asked the seller what price she wanted to get for her home. She told us the amount she was hoping to get. We ran our numbers, and told her we would give her full asking price, cover all of her closing costs, and that we could close in ten days. She looked a little taken aback. We said, “this is where we were supposed to haggle with you right?” and she responded, “Yes.” We told her, “Your numbers work with our numbers. You've been through enough devastation. We can make it work for us with these numbers, so we will.” She asked for a day or so to think about it. We told her to take as much time as she needed.
The seller accepted our offer
The next day, the seller contacted us and said she wanted to move forward with our offer. She had one stipulation. She didn't want the current state of her home of 23 years to be how she remembered it. She wanted to be able to drop in here and there and check out the renovations. We understood and happily agreed. We sent her the contract to purchase her home. We put down $1,000 in earnest money and scheduled the closing for ten days later.
On December 8th, 2017, closing went off without a hitch. The seller walked away with cash in hand able to make a fresh start in the New Year.
In the Seller's words
[AMI] was extremely easy to work with. They gave a fair offer, closed quickly and paid all closing costs. Transactions were done through a title company. They made a difficult situation easier. – Carolyn M.