1200 West Avenue #921, Miami Beach, FL 33139

SWIFT SALE IN A COMPETITIVE MARKET

Seller Representation Case Study

Transaction Stats

+5.4%

Above Market Value

7

Days On Market

11.4x

Faster Than Average

35

Days From List To Close

BACKGROUND

When this homeowner approached me with an urgent need to sell their tenant-occupied property within three months, I knew we had our work cut out for us. However, given our extensive experience in selling tenant-occupied properties, particularly those within this building, I was confident in our ability to deliver results.

CHALLENGES

The property faces North with a direct view into the adjacent building's condominiums and it was expected to remain tenant occupied for the next 4 months. The building was littered with special assessments for renovations that had yet to begin and sales had slowed a couple months before we brought this to market.

EXPECTATION

Sell the property in 3 months time for $365,000 while having the buyer pay the special assessment balance of $15,000.

STRATEGY

To develop a winning strategy, we began with a thorough property evaluation to assess its condition and identify optimal marketing approaches. Coordinating with the tenant, we efficiently scheduled professional photography to showcase the property's best features. By carefully considering market trends and the property's unique characteristics, we strategically priced the listing slightly above our estimated market value. To address the building's special assessments, we incorporated a buyer responsibility clause into the listing agreement, ensuring a smooth transaction for all parties involved.

0

MARKETING AND NEGOTIATION

Our aggressive marketing efforts quickly generated significant interest, resulting in multiple competitive offers within just four days. While one offer came from a pre-approved buyer in our network, our fiduciary duty to the seller compelled us to advocate for the most advantageous terms. Ultimately, the property went under contract at the asking price within a week, with the buyer agreeing to cover all special assessments.

To streamline the selling process, we also assisted the tenant in negotiating their lease terms and facilitated a smooth move-out prior to closing. This additional level of service ensured a seamless transition for all parties involved.

SALE AND INSPECTION PERIOD

Throughout the inspection period, we diligently coordinated necessary repairs and addressed buyer concerns through frequent property visits. To facilitate a seamless closing, we provided comprehensive support to the buyer throughout the mortgage process, including document preparation and communication with the management company.

RESULT

We put the home in contract 11.4x faster than average for similar units in the building while helping the seller exceed his expectations by selling the home for 5.4% above market value. The seller was able to exit his investment and use the funds for another in a very easy and timely transaction.

This successful sale, completed in just 35 days, is a testament to our expertise in navigating complex market conditions and delivering exceptional results for our clients.

HOW MUCH IS YOUR HOME WORTH?

  • Instant property valuation
  • Expert advice
  • Sell for more