Wailea Palms 3201 | Client Success Stories
Recently, something amazing happened that I've never seen in my real estate career, we were able to close a sale in 7 business days and with only 2 days on the market before accepting the full-price cash offer. All in all, it was an 11-day escrow and 13 days on market. Not to mention it is now the highest-priced condo ever sold in Wailea Palms at $2.595M. The buyers had a very short timeline to close and move into a new property due to the expiration of their current lease and the sellers were willing to expedite the process to accommodate them. So, we committed to making this win-win situation happen.
As realtors, we were challenged to create a drastically reduced timeline on the purchase contract to protect the contingencies for both buyer and seller. As you know the typical closing period for a Hawaii purchase contract is 30-60 days, depending on whether a lender is involved or a seller needs time to move their belongings out, and a typically expedited close would be 21 days which already feels really fast.
How Can You Close a Property in 8 Business Days???
All of the timelines for the home inspections, condo doc review and approval, title reports, and seller's disclosure had to be reduced dramatically. Fortunately, an inspector was available within two days of opening escrow and was able to return his report within a day. The report was very clean as the unit had been kept in immaculate shape by the sellers, but the buyers had a few small repair requests that the sellers were willing to grant. So, we got on the phone to get the plumber over to fix a small leak in the bathroom sink and level a drain in the kitchen. We were able to have our trusted handyman fix a few other items swiftly as well.
Our only hangup was getting the condo docs in time. There are a couple of companies that manage the condo association docs and two of them, Docuserve and Condocerts, are typically able to deliver in 2/3 days. The Wailea Palms docs were managed by Homewise and took 6 days to deliver which made everyone stress a little. The association at Wailea Palms is very well managed and there were no concerns to be found.
The real heroes of this transaction were behind the scenes at title and escrow though. With Canadian owners, signing the closing documents would take some creativity. Even getting closing documents prepared in this timeline was a miracle, but if you're closing on a property as a Canadian and you are in Canada, you need to schedule an appointment at the US embassy weeks ahead of time.
To work around this, the title and escrow company organized a mobile notary to meet the sellers just across the border in Washington. They drove to meet the notary in a parking lot, of all places and were able to complete the mission. If one link in this chain had failed we could have had to use our unilateral extension and the buyers would have had to delay the move-in for up to a week. I'm sure they would have been okay, but I like a challenge, and completing this one was especially fulfilling.
Wailea Palms For Sale
Palms at Wailea For Sale
Wailea Palms is one of Wailea's very best residential condominium communities that does not allow for short-term rentals. These units can be rented out for a minimum of 6 months and most serve as primary residences or second homes for owners. Our clients had been members of the community for over two decades also having previously served on the board.
Originally constructed in 1992, Wailea Palms was one of the first developments on Maui to utilize the open floor concept with indoor-outdoor living being designed into the unit. It is a quiet community with one of the best pool areas anywhere on the island, Wailea Palms even has its own putting green for owners to enjoy!
Not All Marketing is Created Equally
An effective marketing plan is critical to the success of any listing. Sure, every once in a while you will see a listing come on the market with 5 dimly lit cell phone photos, two sentences for the listing description, and see it go under contract. But, that is not how you attract top-dollar or the highest-quality buyers. When representing sellers it's our mission to do everything possible to attract the highest caliber of buyer who sees the value that we've determined for your property prior to listing. To do this, we utilize several channels that all start with getting the best possible photos and videos taken. You can view the video we did for this listing below.
Once we have the media, we distribute it through a variety of digital and print mediums. Beyond that, when we have more time on the market, we continue the channel distributions through a variety of means including Google Ads, Bing Ads, and everywhere else people are searching. Read my complete seller's guide here and please reach out with any questions!
Get In Touch!
Evan Harlow is a Realtor on Maui who has the expertise, experience, and work ethic to help you achieve all of your real estate buying or selling goals. We promise exceptional service and support from the beginning of the process through closing and beyond.
Posted by Evan Harlow R(S) 82003 on