Buyers and Sellers of Real Estate In South Lake Tahoe are getting creative!
I was recently received an offer on one of my listings that has been on the market for about 180 days. After countering back and forth with four counter offers, we finally came to an agreement. This property is now in escrow, so I can not disclose the exact terms. I can discuss the creative part, which involves a trade. The buyers came in with a combination of cash, a loan, and a vacant lot as a trade. A vacant lot for a trade probably would not appeal to most sellers of homes in South Lake Tahoe. My seller does not want another lot, he already has three, but the holding cost of a vacant lot is quite a bit less than a million dollar spec home.
This is the first time that I have sold a home in South Lake Tahoe that involved a partial trade for another piece of real estate, but I am sure that it will not be the last.
My seller seems happy, he will be able to pay off his construction loans which are costing him almost $6,000 a month!
I have a feeling that he will be putting the lot on the market as soon as this deal closes escrow. Sometimes you must get creative and be flexible to buy or sell real estate!
Leave a Reply