How a California couple sold their home in one week during the middle of the coronavirus pandemic for the asking price of $910,000


In late March, the midst of the coronavirus pandemic, Roy Quinto and Larry Lane were given just seven days to sell their California home.
They told Business Insider that, after posting professional-quality photos online, they set up a virtual open house via Google Hangout.
They were lucky to find out that an interested couple lived nearby and would do a socially distanced in-person tour, and then lucky that a virtual tour happened at the same time, driving up competition.
But they insisted that you have to move forward in a crisis. “No one was doing what we were doing,” Larry says.
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In the midst of the coronavirus pandemic, Roy Quinto and Larry Lane were daunted by the task of selling their home, and they had just one week to do it.

Roy and Larry have been together for just over a year and were living in a three-bedroom townhouse in Marina Del Rey that Roy had purchased back in 2011. Roy works as an admissions director at UCLA and Larry as a high-end retail associate.

In late February, they decided to shop for a new home, one that would be spacious enough to house Roy’s elderly parents, who were moving in with them. After a few weeks of searching, they found a home about 15 minutes away and used Flyhomes’ Trade Up program to make an offer.

Trade Up allows Flyhomes, a real-estate startup, to make cash offers for homes that it then shops to potential buyers online — and Flyhomes buys the house if it can’t sell it in 90 days. The program seemed perfect for Roy and Larry because it took the stress of traditional selling out of the equation, and they were able to agree on a price after minimal back and forth.

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But they agreed on a price in late March, just as the coronavirus pandemic was shutting down most of the economy. Flyhomes tightened up their standards for Trade Up the same month, and Roy and Larry no longer qualified.

They weren’t left with many options. It was more important than ever to have Roy’s parents in close proximity to them because of the outbreak.

But Flyhomes is more than just the Trade Up program. It also offers other real-estate services from mortgage lending to relatively traditional brokerage functions, and it was with a human Flyhomes agent that Roy and Larry got a seller’s contingency that gave them seven days to find a buyer.

“I looked at Larry and I said, ‘Well, we have seven days to sell a house in a pandemic,'” Roy told Business Insider.

The seven-day countdown begins

It was the end of March, the midst of the coronavirus pandemic, and Roy and Larry were forced to search for creative alternatives to sell their home — a three-bedroom townhouse which they listed for $910,000. Since the state was under a stay-at-home order and traditional open houses weren’t allowed, they had to sell the house on photos alone.

“Every room we went into, I tried …read more

Source:: Business Insider


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