We just closed on the sale of Andrea and Todd’s Mayfair Manor condo. This was the first unit to sell since 2014 because the building has been and continues to be undergoing extensive renovation work. The construction has been a long and arduous process for the residents, especially when it came to a grinding halt for almost a year. Not to mention the $41,000 special assessment each owner had to pay. Now the work is on track and the building is looking better than ever. Once the work is done, Mayfair Manor will be a brand new building with 1920’s charm.
When we listed the unit just before Labor Day, one unit had just come on the market and immediately under contract. We thought this was going to be a quick sale. Then another unit came on the market and the first unit fell out of contract. We found ourselves one of three units in a building covered in scaffolding and plastic wrap.
After the market picked back up after the Labor Day holiday, we received two offers on our condo on the same day. To make matters even more complicated a new building assessment was rumored. We worked with the potential buyers to ensure this new assessment wouldn’t kill the deal and moved forward to a successful close. The other two units tried unsuccessfully to woo buyers and eventually pulled out of the market.
Just because the Seattle market is hot, it doesn’t mean every sale is a slam dunk. If you are contemplating selling, we can help. Call/text 206-295-7760, email firstname.lastname@example.org or leave a comment below.