This house was in good shape; sometimes it’s something else with the deal that’s causing the problem, not the property itself!
SoldFast is always ready for full renovations and major hassles, but sometimes our services are more like a lifeline or safety net. As important as real estate sales are, the certainty they’ll go through doesn’t always pan out. What feels like a sure thing can suddenly get pulled out from under you.
That can be scary when you have momentum and you’re ready to explore the next chapter of your life. That’s exactly what happened to LaVerne and this property in Las Vegas, Nevada.
LaVerne was Ready to Move On; Her Buyer Wasn’t
Sadly, LaVerne lost both her husband and only son over the past few years. With no family around and her getting older each year, she wanted to move closer to her sister in Detroit. She listed her house, went under contract, packed all her belongings, and arranged cross county movers.
And with just a few days before closing, the deal fell apart.
She was devastated. This is a tough situation for anyone, but much tougher for a single lady in her late 80’s. It was too late in the season to make the move, since the Detroit winters are so cold, so she contacted our operator David Stratton the following year using one of our postcard ads. We know how scrambling to keep your plans in place can be its own full-time job, so David and his family were happy to help.
Deals Falling Through Before Closing Is Rare
While this is a frustrating situation to be in, it’s also thankfully a very uncommon one. If a seller pulls out of the deal, they may lose their earnest money deposit, or in the worst cases, even face legal action. The most common reasons a deal fails to close include:
- The lender denies funding, usually because the buyer’s finances have changed or were never fully disclosed
- An inspection found new and serious damages that need costly repairs
- The buyer discovers a title defect, like an active lien against the property
Regardless of the reason, deals falling apart at this point in the process negatively impacts both parties. The seller, in this case LaVerne, is out the money she spent on the inspection, appraisal, and any legal fees. And because her plans were already in motion, any further delay was going to cause major problems.
This is one of the main reasons a cash sale can be an attractive offer. There’s no financing or mortgage contingencies to worry about, so turnaround is usually within 1-2 weeks. This is ideal for people like LaVerne who, through no fault of their own, have been burned by the standard process. It’s also smart when selling while you’re in a different state, or any other situation where you can’t wait for traditional financing.
We Put Together a New Deal for LaVerne
The property was in fantastic shape (minus the concrete slab subfloor in a few rooms), so we encouraged LaVerne to relist on the market for maximum profit. But after what happened last time, she kindly told us to see ourselves out if we wanted to try listing again.
LaVerne had a full pension from Chrysler, while her husband left her another one from Ford. She had no heirs. Money didn’t matter to her; after what happened with the first buyer, speed, reliability, and service with follow-through were what mattered most.
She decided to accept our offer because she knew she could count on us to close. What she DIDN’T count on, however, was us finding other ways to support her big move.
A moody lavender or purple is a great shade for relaxing bedrooms. At the same time, we wanted to make the most of Las Vegas’ bright sunshine. Repainting the room white and adding light-colored flooring made a tremendous difference.
Tip: Consider avoiding high gloss finishes in south or west-facing rooms, especially if you live somewhere with year-round sunshine like Vegas. Natural light is a great plus, but high gloss walls can cast harsh glares and even speed up sun damage.
Tips for Installing Flooring on a Concrete Subfloor
As one of the only projects we needed to take care of at LaVerne’s house, new flooring is a very common part of renovations. It can completely change the look of a room, help bring in more natural light, or reduce cleaning and maintenance needs depending on the type and color you choose. Here are a few general tips:
- Vinyl flooring products can be installed either as floating or with a glue-down design
- Keep the floor as clean and as level as possible, and regularly test for moisture, as humidity or damp materials can weaken the adhesive needed for a glue-down vinyl
- Don’t forget the expansion gap, between ¼ to ½ inches, along the baseboards
- If the planks have a interlocking design, use that to keep new planks secure without damaging them as you’re tapping each one into place
- If you insist on real wood (in places like Las Vegas), engineered will handle moisture better
Going the Extra Mile, Even When You’re Right Next Door
Moving is tough, regardless of age. We helped arrange her new movers and pack up many of her most precious belongings. After she had shipped her car and the movers had left, we figured she didn’t have anything left in the house.
So it was our turn to be insistent, that we take her out to dinner to celebrate. We convinced her to cancel her taxi, and gave her a ride to the airport for a proper sendoff.
There are lots of ways a cash buyer can continue to help sellers like LaVerne. Consider using your industry connections to help them dump unwanted items or find the perfect contractor for finishing touches. Most importantly, remember that these people are often in tough financial situations with little wiggle room. Knowing your market and margins, and offering some to the seller to help with other expenses, can cement a relationship that lasts a lifetime.
A Lasting Friendship
We treat our clients like neighbors, not numbers. David and LaVerne still keep in touch, swapping stories and chocolate.