Under Contract – The McMansion Flip

The McMansion Flip - 311 Sedgefield Ct, Bel Air, MD 21015
The McMansion Flip – 311 Sedgefield Ct, Bel Air, MD 21015

Wow, that was fast. We posted the listing around 4 pm and within 6 hours we had 3 offers coming in. Sometime you just get lucky with timing and this time luck was on our side.

July is the Best Time to List, If You Price it Right

Going into July Maryland buyers in good school districts start to get serious. It’s likely that they spent the better part of the Spring and early summer exploring different neighborhoods. They probably started with a broad idea of what they’re looking for but are excited to see different options. They fell in love with at house early on, but were hesitant to make a competitive offer and it went to another buyer.

Once July hits the mindset of, “We have plenty of time,”  changes to, “Time is running out before school starts.” Houses like 311 Sedgefield Ct sit in a good school district and attract families because of their size and traditional neighborhood setting. As a family it can be a hassle to move with children during the school year. It’s a lot easier for children to transfer and re-adjust to a new school from the beginning of the year. This puts heavy pressure on these buyers to find a house before school starts.

This inclination to be competitive due to past experience combined with pressures from the upcoming school year creates a pool of highly motivated buyer. But remembers, these are experienced buyers, so if you expect to sell quickly in July it is important to price your property properly. This was the key to our contractual success of this property, we priced it properly during the initial listing.

Getting to the Closing Table

While getting a contract is a major milestone, there are still a handful of hoops that must be jumped through before the property is officially sold. We still need to get past an inspection, appraisal, and (fingers-crossed) our buyers qualifying for their loan. Wish us luck! While you can’t count your chickens before they hatch, we are highly optimistic.

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