Case Study: From Pause to Purchase — Winning the Perfect Condo in a Competitive Market
Client Profile:
A well-qualified buyer initially approached us a year ago seeking a condo. At that time, the market was already competitive, with low inventory and frequent bidding wars. After viewing a few properties, personal circumstances and a shift in his relocation plans led him to pause the search with the intention to revisit it in a year.
Market Conditions: Then vs. Now
Fast-forward 12 months, Ben reached back out to resume his search. Unfortunately, the market had only become more challenging—inventory had tightened further, and desirable properties were receiving multiple offers within days, sometimes hours. This time, however, there was a new element: a hard deadline by which he had to close, adding pressure to act quickly and decisively.
The Search: Patience, Precision, and Parking
We restarted the search immediately. While we saw a few decent properties, each had trade-offs. Most notably, nearly all of them lacked one non-negotiable item: dedicated parking. This was critical to the buyer’s lifestyle and commute needs.
Then, a standout unit hit the market—a sunlit, impeccably maintained home on a beautiful, tree-lined street in Graceland West/Southport Corridor. It checked nearly every box: spacious layout, excellent condition, good light, and—importantly—parking.
The Showing and the Competition
We arranged a showing immediately. Just before the appointment, the listing agent called to notify us of an emergency, asking to push the showing back by an hour. We agreed—and when we arrived, we realized just how in-demand the property was: at least 7-8 other groups were touring during our time slot. Given the location, condition, and rarity of such a find, we weren’t surprised. And we both knew: this was the one.
Crafting a Winning Offer: Strategy Over Speed
With competition fierce, we needed more than just enthusiasm—we needed a strategic offer. Here’s what we did:
- Presented the buyer as a well-qualified purchaser.
- Included a proof of funds from the buyer’s parents, who were offering to provide cash to strengthen the offer.
- Structured the offer with clean terms: limited contingencies, flexible closing timeline (could close as soon as all condo documents are approved and attorney review concluded) aligned with the seller’s needs, and a strong earnest deposit.
- Avoided overexposing the buyer to risk — we never want to jeopardize our clients’ earnest money or stretch them beyond what’s responsible, even in a competitive environment.
Despite the strong offer, we learned we were neck-and-neck with another buyer who had financing in place but had submitted slightly better terms—particularly on price.
Negotiation: Knowing When to Stretch, and When to Hold
We evaluated whether to increase the offer. Our approach? Look beyond the hype and focus on value:
- Location: Prime street, great neighborhood.
- Layout and Size: Functional and larger than comparable units.
- Condition: Turnkey with low anticipated maintenance.
- Future Value: Room to expand and excellent potential as a long-term investment.
Given all this, we advised the buyer to slightly increase the offer—not just to win, but because it still made financial sense. We struck the right balance: just enough to outshine the competing offer without sacrificing future resale value or overpaying.
The Outcome
We won.
The listing agent called to say that while the other offer had slightly better price terms initially, our full package—clean terms, financial strength, and thoughtful presentation—tipped the scales in our favor. The buyer closed on time, met his deadline, and secured a home that met all his current needs and supports future growth.
Takeaways
This case underscores a few important lessons in today’s market:
- Cash isn’t king alone – presentation, terms, and timing matter just as much.
- Market knowledge is power – knowing when a home is worth stretching for, and when it’s not, can make or break your investment.
- Don’t take reckless risks just to win, strategize – we believe in calculated strategies that give our clients the best chance of success without compromising their peace of mind.
