Congratulations...You Just Bought A Home With over $100,000 in Equity!

I was showing some homes to a buyer before the end of last year.  I was showing them a beautiful home in La Habra and they fell in love with. The seller was asking $515,000 for his home that had been completely remodeled, including the pool and spa. I mean they had replaced all of the windows with energy efficient thermal windows, installed a new furnace and air conditioner, re-plastered the pool and spa and replaced all of the equipment. The kitchen was absolutely spectacular. New cabinets, stainless steel appliances (that were included in the sale), granite countertops - the works. My client decided to write an offer.

Before writing the offer, I wanted to check the comparables out (like I do on every home I am writing an offer on) to see what I thought the actual value was. I figured it would be about $540,000 to maybe $550,000. Not bad really considering the shape of the home and the lack of sales in the area. I couldn't have been more wrong!

The appraisal just came in this morning. After picking my jaw up off of the floor, I had to call my client as I knew it would make her day. The final value: $610,000. Congratulations...You just walked in with over $100,000 in equity.

See how working with an agent can get you a great deal!