Not Every Good Deal is the Right One

There are moments in real estate that look perfect on paper. This was one of them.

The Deal: A price nearly $700,000 less than the very similar house next door. The kind of opportunity that felt like the stars aligned.

But we walked away.

A past client reached out about a home in the Cays she had her eye on. She'd lived in Coronado before, knew the area well, and after a few years out of state she was ready to come back. I'd been playing phone tag with the listing agent on something unrelated, so I told her I'd reach out and get the details.

Turns out, the home had fallen out of escrow three times. But not because the house was in poor shape - there were issues with title that had since been resolved. The seller had a full home inspection report and the disclosures were done. The condition of the home felt known and my client's timing felt perfect.

She was out of state and excited enough to write an offer based on our FaceTime walkthrough, reminding me of those early COVID days where showings were virtual. We knew we had to act quickly because there were two other offers on the table, so we structured something strong enough to win, while still accounting for the work the seller's home inspection told us it needed. Because it did need work. It had been a rental for years, and we knew it needed a new HVAC system and a handful of repairs. But she knew that going in and was comfortable with it.

When we got the acceptance, she was thrilled. I was thrilled. This was the perfect house for her; she could make it her own and have huge upside if she ever decided to sell.

But before moving forward, I insisted she do one more thing.

Another inspection.

We already had a report. We had disclosures. We had enough to keep going, and it would have been easy to do exactly that. But in my experience, another home inspection is always a good idea, and my client trusted my guidance.

During the inspection we found moisture in the wood floors in three spots, two places downstairs and one upstairs.

In the living room, there was at least a plausible explanation. The area was near a window and door, so maybe water had come in during a storm at some point. Even so, the home had been vacant for months and it hadn't rained recently, so I would have expected it to have dried out.

The dining room was different.

The floor was wet in the middle of the room with no obvious source.

That's when things started to shift. Because moisture is rarely just a surface issue. It's the beginning of a longer question: where is it coming from, how long has it been there, what's behind the walls or under the floors. All of it solvable, and I told her that. We talked through what moving forward looked like: leak detection, pulling up some flooring, addressing the source, possible mold remediation, then putting it all back together. I could get those answers within a couple of days and was confident the seller would be accommodating.

But she had written her offer believing she had a clear picture of the home's condition. This was a different picture. A level of uncertainty she hadn't signed up for.

She decided to walk away, and I supported her in that.

A good deal is only a good deal if you understand what you're buying, or you're comfortable with what you don't know. She wasn't, and that's a legitimate place to land.

My job isn't to push a transaction to the finish line. It's to help my clients make informed decisions, including the ones that mean stepping back. Especially the decisions that mean stepping back.

There will always be another opportunity. What matters is that when you do move forward, you do it clearly and with confidence.

What This Means for Buyers

Having the right guidance when buying a home is what matters most. Even when information has been provided. Even when it feels like everything has already been discovered. And walking away is OK, even when that means you may not have a quick $700,000 in extra equity.

Sometimes the most important decision you make is the one where you choose not to move forward.

Thinking About Buying in Coronado?

Every home has a story. Some are just easier to read than others. If you're considering a purchase and want to understand not just the opportunity but the full picture behind it, I'm always happy to talk.

Reach out and we'll figure out what you want your next chapter to look like.