Buying a Condo in San Francisco
One of my favorite buyer clients are a couple - I'll call them Jake and Dan. They live in Sonoma and were looking for a pied-a-terre in San Francisco for when they want to enjoy the nightlife and cultural activities. Dan also goes to school part trime and needs a place to crash. A small 1 bedroom under $500k would be ideal.
I had never met them before I got a call from Jake asking about a particular condo he found on the internet. He thought it was our listing. I told him up front that it wasn't but I explained how it was better to have his own buyer agent to represent and negotiate for him. He agreed!
We made plans to view that condo and a few others the next day, on Friday the 13th. His partner Dan couldn't make it, but we had to make it that day because the first condo was only available to be seen Monday-Friday. It was still tenant occupied until the end of the month.
So we met on Friday and looked at a number of condos. The first one was still the choice. Low HOA, garage parking, close to the Castro, Duboce Park and light rail transit for quick trips downtown. We made plans for Dan to see it on Monday.
I called the listing agent that evening and found out he was expecting 2 offers, and the owner would review them Saturday at 1pm. I figured that was it - Dan hadn't even seen it yet! So I called Jake and Dan to let them know. They said they would think about it.
The next morning they wanted to go for it! Dan had seen all the online photos and trusted jake. Back and forth through email, we assembled a great full price, ALL CASH offer. I managed to get it to the listing agent at 12:55pm.
By 3pm the offer was back to us, signed and accepted!
Dan saw the condo an Monday and was glad they had made the offer. The rest of the week saw us reviewing disclosures, condo docs and making a few more trips to inspect the condo and building again.
The following week they got MARRIED at City Hall on Monday (they can hold title as community property with right of survivorship), removed all contingencies on Tuesday, and Jake left for Hawaii for business on Wednesday.
The next week Dan made another visit to the condo with his contractor to take measurements and plan improvements.
Finally Jake returned the next Monday, they signed closing docs on Tuesday and were on record by Wednesday! Could have closed in 15 days but that trip to Hawaii got in the way ;-)
John M Scott, Broker / Owner, Scott Keys Properties, Certified Distressed Property Expert (CDPE), Council of Real Estate Brokerage Managers (CRB), serving San Francisco and the surrounding San Francisco Bay Area