A $450,000 HOTDOG

By
Real Estate Broker/Owner with Daytona Condo Realty, 386-405-4408

My wonderful out of state client bought a condo in one of the nicest condo buildings in Daytona Beach Shores, and he likes it so much that he tells his friends and relatives about the opportunities.

He thinks that the time is right and this makes a lot of sense to buy the most beautiful condos for half of their price. Which makes two of us.

He calls me and tells me that he is bringing his relatives to stay with him for a few days and they want to buy a condo like his.

Well, they have never been here, so this does sound strange, but they are relatives, so maybe relatives follow each other...

They come, we spend 3 days showing condos going to see the units multiple times from early in the morning to late in the evening, and then the whole routine again, and then next day again…

Hotdog

There are a few excellent buys and Buyers are hesitating which they like more. They are not as keen in real estate as my client, and all three days they keep asking the same questions, and I keep explaining the same thing again and again. The condo living concept is foreign to them and it takes time to digest, which is fine with me.

Finally they decide on a particular unit, I write the offer, and they sign it, give me a check for $10,000, and from the office go straight to the airport. It is Sunday, so I am not in a rush to forward it to the Listing agent.

Three hours later I receive a call from the Buyer. They just landed, and he is in a rush to tell me that he is cancelling the contract.

Well, this was not the first time I witness the Buyer’s remorse, but I really love the explanation, which I was not soliciting. He said it was because they did not have enough money to purchase.

Few hours ago they had enough money (all cash transaction), and then in 3 hours they are poor….

Hmm, the only good explanation is that they stopped in Atlanta and went to eat at Nathan’s and their hotdog made them from rich to poor.

Freaking $450,000 hotdog

* Photo via Flickr.com Creative Commons License by TheBusyBrain 

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Florida Volusia County Daytona Beach Shores
Groups:
Condo Specialists
Condos, What you need to know?
Diary of a Realtor
REALTOR LIFE
Realtors®
Tags:
buyers
jon zolsky
buying a condo in daytona

Anonymous
Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Bob - thanks, I had no problem. Not that I was happy, of course, but I was atleast glad that it was before I presented it to the Listing agent. Saved me some awkward explanation

Oct 30, 2011 11:45 AM #140
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

they were not really risking the deposit. They still had 15 days Inspection period under the contract, so they were safe. But it saved me from then explaining it all to the Listing agent

Oct 30, 2011 11:47 AM #141
Rainmaker
988,947
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.com 305-931-6931

A few days ago I had sale contract, $540,000-  did not go though - 15 days Inspection - come on, why 15 days, if the closing in 3 weeks? Seller asked to do it in 5 days, buyer never agreed...

 

Oct 30, 2011 03:20 PM #142
Rainmaker
283,679
Kasey & John Boles - Jon Gosche Real Estate
Jon Gosche Real Estate, Boise ID - Boise, ID
Boise, Meridian, Ada/Canyon/Gem/Boise Counties

I love that you contribute it to the hot dog in atlanta.  My guess, which others have said, is that they got on the plane and the rush of everything from the previous days all finally settled down and it settled in what they were doing and they got cold feet. You never know, maybe tomorrow they will have enough money again and decide to move forward :-) Have a great week! -Kasey

Oct 30, 2011 09:57 PM #143
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Evelina - I had a similar situation. the Buyuer was fighting for a longer term of the inspection, won, and did not do the inspection at all. It was a matter of winning by all means, than any practical meaning

Oct 31, 2011 12:08 AM #144
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

kasey & Jon - of course. they may have this idea of buying a condo is ingrained, and eventualy they may get ready

Oct 31, 2011 12:12 AM #145
Rainmaker
192,173
Joy Carter & Jeff Booker Brother and Sister Team
Keller Williams Partners Realty-GreatFloridaHomes Team - Plantation, FL
Trust Your Family's Move To Our Expertise!

Jon,

I think you noticed the problems all along the way, but remained hopeful.  As disappointing as their choice was....it opens up our eyes to Buyers quarks to be aware of.  Hope they turn around for you!  Joy

Oct 31, 2011 07:25 AM #146
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Joy & Jeff - so well said, thank you

Oct 31, 2011 10:15 AM #147
Rainer
29,145
Jayson Holland
RE/MAX - Denver, CO
Jay Holland

HA! Very funny post. I dont think it was the hot-dog. Maybe they wanted to be the "hot-shot" relatives in front of their family, but when it came down to it, they werent all that they wished they were. 

Oct 31, 2011 12:09 PM #148
Rainer
46,231
Phil Porter
Realty Plus - Hilton Head Island, SC

Were their names "Chesnut?"  As in Joey Chestnut?  Or maybe Kobayashi?

We get the same thing here at Hilton Head Island, SC, except it is usually the very expensive gas prices on I-95 on their way back home - sometimes can cost $600,000!

http://newsfeed.time.com/2011/07/04/hot-dog-king-joey-chestnut-downs-62-dogs-in-nathans-competition/

Oct 31, 2011 12:31 PM #149
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

jayson - he was simply very confused, and got out before his head bursts

Oct 31, 2011 01:49 PM #150
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Phil - yes, gas at $600K also leave nothing to close   ;-)

Oct 31, 2011 01:51 PM #151
Anonymous
Anonymous
Anonymous

Bummer!  This is the nature of the industry that can be disconcerting.  You never know, they very well may come back to you in the near future to look again.  And when that happens, I'd definitely have them in the office for a consultations to set up expectations for both sides :D

Oct 31, 2011 11:29 PM #152
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Teronald - oh, we had it all figured. I was sitting with them both in their relative's condo, and in my office, and I was telling them that they better not buy if they had any concerns or were not 100% sure.

Nov 01, 2011 12:12 AM #153
Rainmaker
363,738
Sylvie Stuart
Keller Williams Check Realty 928-600-2765 - Flagstaff, AZ
Home Buying, Home Selling and Investment - Flagstaff, AZ

Man, that's a tough hot dog to swallow. I try to prepare buyers that they will experience buyers remorse and they will have doubts and fears about the transaction, especially in the first few hours, and that's normal, but sometimes, it doesn't help, and they will cancel anyway. Next!

Feb 13, 2012 08:45 AM #154
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Sylvie - I think for all of us it is one thing before the offer is prepared, and it is the other after you have presented it

Feb 13, 2012 10:11 AM #155
Rainmaker
130,634
Matt Robinson
Professional Investors Guild - Pensacola, FL
www.professionalinvestorsguild.com

Great title, it definitely got me to read the post.  That's a crazy story, and it is certainly amazing how someone could have the cash to make a purchase like that, and then suddenly they don't.  Obviously a tire-kicker, and a big time waster, but seeing as it was a direct referral from a previous buyer...I would have been out there showing them condos too.

Apr 16, 2012 09:34 AM #156
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Matt - they were pushed by their relative, and he kept pressing them, and when they got on a plane and there was nobody to press them anymore, they went into a remourse.

It just a funny pretext to claim that you have the cash, and then 2 hours later - no, not enough cash

Apr 16, 2012 10:07 AM #157
Rainmaker
263,650
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

I feel your pain. And you have a great title!

Oct 11, 2012 09:23 AM #158
Ambassador
1,344,122
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Tigard - thank you for your comment. :)

Oct 11, 2012 10:35 AM #159
Anonymous
Post a Comment
Spam prevention
Show All Comments
Ambassador
1,344,122

Jon Zolsky, Daytona Beach, FL

Selling Daytona paradise for heavenly good prices
Ask me a question
*
*
*
Spam prevention

Additional Information