The 2/1 That Taught Me Who the Buyer Really Is
Some listings test your patience. This one tested my read on the market.
It was a 2 bed, 1 bath slab home here in St. Louis. Finished, livable, safe, and priced under $80,000. On paper, that sounds like an easy sale. It wasn’t.
Why 2/1s are hard
Two bed, one bath homes struggle on both sides of the market. They’re tough to rent, and they’re tough to sell.
Before we priced this one, I called other investors and agents in the area. Most of their investors were looking for three bedrooms. The reason is simple: families want that third bedroom, and they want a basement. Take those away and the pool of people you can place gets cut in half. That’s true whether you’re leasing it or selling it.
The first contract
We went under contract. Then the inspection notice came back with a long list of requests. My seller didn’t do them, and the deal fell through.
That’s not a failure. Sometimes the buyer and the house just aren’t a match. But it did make me look harder at who was actually showing up for this property.
What I noticed
Investors were harder on this house than homebuyers. A buyer looking at a home under $80,000 understands it won’t be flawless. What they need is a home that’s livable, safe, and passes inspection. For someone buying their first home, a house like this can be exactly right.
An investor is running different math. Every item on the inspection report is a cost against their return, so they push on all of it.
The adjustment
We adjusted to match the market and landed at $75,000. That’s right where homes just like it had sold.
Then we did something that made the rest of the deal smoother. Before inspections, we sent the buyer the items we had already talked through on the phone. No surprises.
When their inspection notice came back, it only called out things we were already addressing. Our seller let them know those items would be taken care of.
No retrades. We closed.
The takeaway
Pricing to the market isn’t losing. It’s how you get to the closing table. Knowing who your buyer is changes how you prepare. And being upfront before inspections can protect the deal you’ve already negotiated.
My seller made a clean exit and is positioned for her next move. A fair disposition, and on to the next one.
If you own a rental that’s tough to rent and tough to sell, you have more options than you think. I put all five of them, side by side, in a free playbook: The Landlord’s Exit Playbook.
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