Buyers get lucky by being selected out of seven other submitted contracts to purchase second home condo in Vail

If you have watched the Vail Valley Real Estate market activity in the last year, you know that properties are selling at an all time record pace. As a Buyer, you have to be agressive and have an agressive real estate agent to "get in the game". However, do not be daunted, if, at first you don’t succeed. Here is a quick story that will illustrate this point.

This fall, a condominium in West Vail was listed for $325,000; $100,000 more than several had sold for just a few years before. By the time all interested buyers had rallied around the proeprty and the Seller communicated what they were looking for - an over full price offer of $332,000 with no buyer contingencies but a Seller contigency of a court approval of this sale - their were seven offers on the table; four of seven were acceptable to the Seller so those were thrown into a hat for a drawing.

Incredibly enough, my buyer was pulled out of the hat first and was awarded the right to wait and see if the court would approve the sale; after a three week extension by the courts, the Seller was given the athourity to sell the condominium. The property closed and the buyer was able to take possession just before the New Years holiday.

Two weeks before this process started, my buyers had lost out on another Vail condominum in a full price bidding war. If they would have "won" the right to purchase the first property, the buyers would not have seen near the appreciation they have seen on the West Vail condominium they now own…sometimes, "it’s meant to be".

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