How One Backup Buyer Saved My Idaho Listing Twice

By Chris Schmalz

Chris has lived in the Idaho Falls area for over 40 years and has been helping sellers and buyers realize the American dream and build wealth through real estate for over 20 years.

Two buyers fell out of contract on one of my listings in about five weeks. Here’s the part that surprises people: the sale never went back on the market, not for one single day. There was one move that made the difference, and most sellers never think to ask for it.

About two months ago, I took a listing on an old fourplex here in Southeast Idaho. It was built in the ’40s, converted years back, and owned by the same mom and dad for more than 20 years. They’re in their 80s now and ready to liquidate.

Their son had been managing the place and was frankly just done with it. There was some real deferred maintenance, and it was in rough shape.

So we listed it as-is. We skipped the pre-inspection, and photography was limited because the units were occupied. What mattered most was that we priced it in a way that honestly reflected the repairs a buyer would be taking on.

One move at the offer stage saved the whole deal. Within one week, we had multiple offers. I asked everyone for their highest and best, and then I did the thing that ended up saving this deal. I didn’t just accept the strongest offer. I accepted the strongest offer and placed a second buyer in a backup position.

When the first buyer’s financing died, the backup stepped in. Three weeks in, buyer number one’s financing fell through. We’d already cleared inspection, but that didn’t matter once the loan died. Here’s where the backup paid off: I already had a second buyer who’d agreed to terms and price, so they stepped straight in. No going back on the market, no starting over, no scrambling to attract someone new.

Then the second buyer fell through too. Buyer two went sideways about two weeks later, also over financing. By the third time around, I had a cash buyer waiting in the wings. No financing, no inspection, no contingencies at all, at about $10,000 under full price. I’ll take that trade every single time. Now we’re headed to closing, cash, no contingencies, and it should be smooth sailing from here.

The condition was never the real obstacle. There’s one more piece worth sitting with. That property was old, sold as-is, and genuinely rough, and it still drew multiple offers in a week. Price a home correctly, and buyers will show up no matter what condition it’s in. The condition was never the obstacle sellers assume it is. The price told the truth, and the buyers responded.

So if you’re thinking about selling this year, especially something that may need work, let’s talk about how to price it and how to build a strategy that lines up backup buyers before you need them. Reach out anytime. Call or text me at 208-242-4313, email me at chris@realestate-idahofalls.com, or visit blog.realestate-idahofalls.com. I’m Chris Schmalz with the Chris Schmalz Real Estate Group, where moves are made simple, and life is made better.