By Alyssa Isenstein Krueger, November 2, 2021
By Alyssa Isenstein Krueger, November 2, 2021
My buyers Annie and Ben were referred to me by one of the great lenders at Portland Housing Center. They were first time home buyers and during our meeting when we met to discuss their plan and get a feel to see if we would be a good fit to work together, we talked about the ideal house for them. They had a really clear idea of exactly what they were looking for and where they wanted to buy. Ben works in Vancouver and Annie works on the inner east side so their ideal house would be in North Portland in Kenton or near I-5. They also wanted something with vintage charm- preferably mid-century, and in good shape that would be easy to maintain. They also wanted a yard and their budget was $400k tops. They were still interviewing agents when a couple of days after we met, I got an email from my wonderful colleague Martin Cross here at Living Room with info on an open house a great listing of his in Kenton was having the next day. On paper that house seemed to meet all the criteria that Annie and Ben had, so I forwarded the email along to them. They responded that indeed, the house looked like it was great and they could tell I had a really good sense of what they were looking for, and that sealed the deal for us working together.
Annie and Ben stopped by the open house and let me know right afterwards the house was beautiful and perfect for them. I went back to see it with them the next day, and the following day we wrote up a great offer. The sellers accepted and 6 days after we first met they were under contract. We had the inspection and it was going really well, with the exception of the roof which we all suspected was toast. And then we got the bad news. At some point the tub overflow drain line had been disconnected so water had been getting behind the tub for a long, long time. Everything under there including subfloor and floor joists were toast. The rot had worked its way into the wall behind the tub plumbing and had spread out from just under the tub to most of the bathroom. The only real fix was to remove the tub, vanity and toilet, gut the bathroom, and then rebuild the bathroom from the subfloor up. Ouch.
A lot of buyers would have walked at this point, but after a few days of hard thinking, Annie and Ben decided that they still loved the house and felt that if there was a way to have this all fixed before they take possession, they would stick with it. They knew they wanted it fixed, and the last thing they wanted was to get keys to their new house and then have to find somewhere else to live while the only bathroom got rebuilt. The next move was finding a contractor who could do the job within the next month. Between Martin the listing agent and myself, we hunkered down and found a few contractors who could go out there to take a look. The first company to get back to us bid the job at nearly 3 times what the sellers wound up paying for the same scope of work and said it would take 4-6 months before the job could be completed. In the end, a contractor who the seller had personally used for other jobs said they could get the entire job done within a couple of weeks including mold remediation, and indeed they did. My buyers even got to pick out new flooring and a new toilet.
Despite such a huge repair, we wound up closing only one week late. The sellers are doing a 3 week occupancy after close, so on the last day of the weekend before Thanksgiving, I will have the honor and pleasure of meeting my buyers at the house to hand over keys.