34: Selling the Condo

Peace out Golden Valley, you were good to me. I have finally closed on the condo and the proceeds are in my account! While we moved out in December, it wasn’t until February that we had removed absolutely everything from the condo, and April when we emptied the storage unit.

The first week of March the condo was listed, and we had about 8 people schedule showings. We didn’t have an offer the first 24 hours, which was a bummer because you hear how easy it is to sell places these days. Of course this is a 1 Bedroom, which is less desirable.

Mid-week we had one interested party that scheduled a second showing, and we were hopeful that they would make an offer. However…. They ended up sending us pictures of a water spots on the ceiling. After some investigation we learned that the person living above me had a water heater leak, and a bathtub drain clog, and now I had ceiling water damage. Thankfully it appeared to just be water stains, as the drywall wasn’t damp.

I reminded my real estate agent that I wanted to receive an offer and get rid of the condo. Thankfully the interested party wasn’t scared, and wrote me an offer contingent on inspection, and the inspection would include moisture testing in the ceiling.

The inspection came back with some “low to medium moisture” readings, which everyone felt confident would mean that the ceiling just needed a few weeks to dry out. We negotiated a new closing price, and after waiting for all the paperwork…We finally closed about a month later.

The closing wasn’t 100% smooth sailing as we happened to close just when my escrow account was paying the property taxes. There still will be a few loose ends to tie up, but technically the condo is out of my name, and I can start saving what were mortgage payments towards the wedding budget!

Do you enjoy the buying and selling process of homes? Or are you normal? (kidding, kind of).

1 Comment

  1. OMG I can not imagine anyone who enjoys buying/selling homes. It’s a necessary evil with stress on both ends, but more stress on the selling end IMO. We’ve been lucky and both of our sales have been low stress and very straight forward. I sold my condo in March of 2018 – so right when Paul was born so we did not attend the closing. Then we sold Phil’s house in December 2019. I am glad that we bought in the fall of 2019. At the time we thought it was a competitive market, but it was nothing like that markets of 2020-2021! And now interest rates are sooo high! I hope to not move again for a very very very long time. I’d be content to stay in his house until we retire and downsize, but we’ll see what the future holds.

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