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The Beacon condo in downtown St Petersburg – Sale #12

The Beacon condos in downtown St Petersburg Florida

The Beacon condos in downtown St Petersburg Florida

When we started our new company, ALVA International, last December, one of the things I was looking forward to was increased walk-in buyers because of our great new location on Beach Drive in downtown St Petersburg.  In February I had my first.

Now it’s Sale #12: A nice gentleman came in with his wife and son, and they wanted a small condo they could eventually move into, but could rent out for a few years first.  I found them the condo they wanted, negotiated with the sellers (not a short sale) and thought I was well on my way to a quick sale.  March became April, which became May and June.  Lenders wouldn’t finance the building due to the low number of full time owner-residents – then everything looked like the deal was falling apart.  The buyer wanted to buy, the seller wanted to sell, but we needed a way to get there.  The seller asked if my buyer would consider assuming their mortgage.  After seeing the terms (and 3.5% interest rate), my buyer agreed.  Eventually the bank came on board and we were back on track.  Then came getting all the documents through the Condo board and property manager.  Next thing you know it is the end of August and the title company says we can close on Friday.  Okay, so it took until Monday, but we managed to make it happen.  We even have a tenant lined up to rent the unit starting the day of closing.

A week later, I’m still amazed the sale happened.  It definitely tells me not to give up and to explore all options to make things happen.

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