John Demchak
Timely Property Solutions LLC
in Manalapan, NJ
John Demchak with John Demchak,Rita Demchak
I called the listing agent and asked her to represent me as the Buyer. After receiving best and final offers from all interested parties the same day, the listing agent notified that I had the highest bid sent me the Purchase Agreement to sign. The next day I was informed that there would be another best and final set of offers. I did not get the property as the price increased by $20k. Three months later, while attending a Bootcamp Summit I got a call from the listing agent saying the previous high bidder changed their mind after 90 days and wanted $25k in concessions. I eventually signed the purchase agreement for less than my original bid. From purchase closing to selling close 3 months elapsed.
Rehab Details
Property City:
Freehold
Property State:
NJ
Purchase Price:
$175,000
Repair Costs:
$75,000
Sale Price:
$320,000
Case Study
How did the FortuneBuilders team and resources help you to accomplish this deal?
From my training, I knew to ask the listing agent to represent me as the Buyer. I also submitted a stronger offer by agreeing not to conduct any inspections and to close quickly, since the Sellers had already lost 3 months on a deal that fell through! The property was owned by an elderly couple, so I offered to haul away anything that they left in the property. They really appreciated the gesture.
