By Kim Parmon, February 18, 2020
My personal real estate motto is that anything can be a deal for the right price.
Ellie and Emilie were searching for a property they could fix up and either live in or rent out. They wanted to build in their own equity and not pay for someone else’s work, which is something I wholeheartedly support! We got to work looking for a fixer and ran into several multiple offer situations where true flippers were waiving their inspections and winning out. Ellie and Emilie wouldn’t be deterred, though! We kept at it and finally found a great property in Cully. It had a solid floor plan, room to build equity, and an awesome lot. They knew right away that they wanted to put in an offer but by the time I got into the car after our showing to call the agent the seller had gone under contract. Darn it!
I had a feeling this property was the one despite the hiccups, so I encouraged Emilie and Ellie to write a back up offer. Lo and behold, a week later I got the call: the top position offer was backing out and we were moving into first position! My clients were thrilled. We got our inspections scheduled right away.
We knew there were a lot of problems at this property prior to the inspections and had budgeted for them. But we weren’t expecting to find out that the nine foot tall basement was supposed to be a crawlspace (!!!). The seller had spent his thirty years at the property slowly digging down and creating a basement where one hadn’t existed before, dragging out buckets of rocks and gravel one at a time. I’m talking Shawshank Redemption-style, folks. I’ve seen a lot of weird things in my career but this one takes the cake! Were Emilie and Ellie worried? Not at all. They kept their rational minds about them. We reached out to a couple of foundation companies to have them take a look and got several bids. We went back to the seller and were able to negotiate a 110k price reduction because of our findings. It was a strange situation but the numbers still worked!
Last week, I gave Emilie and Ellie keys to their new property. I’d show you pictures but it’s not much to see yet! I’m so excited to see what they do to it, though. 
Kim Parmon
Principal Broker | Earth Advantage Certified | OR
She/Her
Kim Parmon Principal Broker Lead Listing Agent Earth Advantage Certified | OR kim@livingroomre.com Oregon is the fifth state that Kim has called home in her life, and this one is sticking! After moving multiple times in her childhood, Kim fully understands how empowering homeownership and having roots is...
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