Last week I attended the Penticton Court House hearing, as a listing representative for a home that had been on the market for 2 years. I strolled in with a coffee for Kevin Kole, a Summerland Realtor® who was making a competing offer on the home.
Yvonne is a good friend and mentor, she asked if I would look after her listings and any inquiries while she was away on a well deserved vacation. As I love all real estate and was extremely familiar with her listings, I happily agreed.
This wasn’t your typical court ordered emotionless foreclosure, lawyers were hired and the courts had reduced significantlyy to force a sale. As the price was reduced my phone was ringing off the hook with anxious Realtors® who desperately wanted in to see the home. I could go on about the headaches received trying to book showings, but I will let you know it was not easy!
After a few days go by and I arranged 5 showings out of the 15 requests. The next Monday I had 5 new showing requests, these people were pleading just give us a day and time and we will be there. After some unforeseeable circumstances, all showings we cancelled that week.
With no showings this week, I get a call the next day. This matter is going to court in 2 days. If anyone wants to make an offer they can show up at the Penticton Court House at 10am. I replied: No problem I will call all 10 agents who couldn’t get in and ask if they would just make an unconditional, blind offer on a home they haven’t seen. No problem, would love to. So as I am already a bit nutty and humorous I did.
Kevin had a client interested but we just couldn’t get the cooperation to book a showing. He called the next day and mentioned he was leaning towards making an offer at court! I called Kevin back and verbally walked him through the floor plan, flooring, and the home from what I could remember. Kevin is a great Realtor® and had a buyer who was looking for something similar to this property. Thankfully, I had shown this home many times and had hosted several open houses and have a photographic memory (I wish!). I emailed the PDS and title on the home and stirred up one offer.
Wednesday was the day before the court hearing and we at Royal LePage always have an opportunity to market our listings to the staff. I like to talk! So when it came time to give my 2 cents. I reminded everyone of the listing that they had all heard about every occasional meeting for about 2 years. I said if anyone wants to write an unconditional offer, meet me at the court house tomorrow morning. Drummed up a competing offer.
I explain that the deposit needs to be in trust prior to court, to make a photocopy. That it is a sealed bid process… No terms on the contract and it is “as is,” take it or leave it.
Court time. Thursday 10 am. I stroll in with a coffee for my buddy Kevin. There were 30 people there. As it turns out there were 10-15 homes that were going to court that day. So exciting. I really am a real estate addict. I love all the foreclosures, I like being in court (for good reasons, not prison reasons) always wanted to be lawyer, I love law and negotiating.
The most interesting one was Estabrooke. Such a small town it is so neat to be in the thick of things. I knew all the agents, some of the purchasers…by face, to my surprise I even knew the private mortgage holders on the court ordered foreclosures.
I will blog about the sold foreclosures another time as this blog is rambled enough. Stay Tuned…Join my Facebook page if you want to be notified of upcoming court dates and outcomes.