[Investment Story] Apartment Sale Story

Finally sold the house after a tough 7 months!!^^

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After listing it on June 25th, a total of 51 teams came to see it. 24 teams came until the end of December 2022, and 27 teams came after January,

conducting pre-visit inspections. It was practically a model house. Our family went through a lot during that time because we had to maintain the house like a model house, except for Sundays and Mondays when real estate agents were off. While it was nice to live in a comfortable environment, there's a big difference between 'having to keep it spotless' and 'being able to keep it spotless'.

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Considering that the real estate market was at its worst in 2022, it was amazing that 24 teams visited the house. But in reality, it was just showing them the house like a model house. Only a few actually submitted purchase offers. After the 1.3 real estate measures in January 2023, the urgent sales within the complex were sold out, and inquiries significantly increased. In January, over 20 teams visited the house.

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Looking at the details of yesterday's sale,

While negotiating the terms of sale with 'a', who expressed their intention to buy last week, the conditions were slightly unsatisfactory,

so I politely declined. However, in this declining market, the seller is the one who has to compromise, so I contacted 'a' yesterday with the same conditions.

'a' changed their mind within a week, and the real estate agent informed me that another client, 'b', was willing to purchase at 10 million won less than 'a's offer. I asked 'b' if they could reduce the price by 5 million won further.

At that moment, a real estate agent who had never contacted me before, 'c' (a dark horse), suddenly appeared and said they wanted to explore the same conditions as 'a'.

So, with the negotiation with 'b' and the emergence of 'c' (the dark horse), I waited while considering both their conditions.

The 51st visitor showed up at 7 pm, wanting to see the house.

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It wasn't a local real estate agent, and they had never contacted me before, so I didn't have any expectations.

I was about to tell them not to come, but since the time I had promised for the negotiation with 'b' and 'c' came around,

I had no choice but to let them see the house.

The 51st visitor seemed to really like the house after seeing it.

I explained the ongoing negotiations with 'b' and 'c', and they said not to proceed with any contracts yet and that they would contact me from their office.

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With three teams in negotiation, every minute felt like an hour. I sent a text to all three real estate agents, asking for a response by 9 pm,

and I was getting anxious when my wife asked me to go out for garbage disposal.

Ultimately, the sale was finalized with the 51st visitor, who was a buyer looking for their own residence, not a 'b' or 'c' type of investor.

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Honestly, during the 7 months, there wasn't a single proper price negotiation. Then, three buyers appeared simultaneously,

and I felt a bit dazed. I felt like I could have waited a bit longer and sold it for a higher price.

However, after contacting and anticipating with 50 different people,

I was exhausted and really wanted to sell it quickly.

If I had a little more financial leeway, I might have held out longer. But I had to pay the final balance in the fall, and I was under pressure to complete the sale by July at the latest. So, I made the decision to quickly proceed with the sale at a good price.

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By watching various YouTube videos, I think the methods they recommended for selling a house were effective in my actual selling process.

1. Tidy up the house well

2. List it at the most meaningful asking price within the complex