Nathan Payne and Corey bought a Utah house for $215,000 thinking it had a basement, then discovered it didn't. They renegotiated down to $170,000. The lesson: verify property details before you commit.
So I wasn't able to go over there when they said the appointment. Corey went and I ran the comps and I said, hey, houses in this area go for around $270,000. So we probably could get it at $215,000. It does if it doesn't need a lot of work and you lock it up. Okay. Because, you know, I assume that the house had a basement. Most homes in Utah have a basement. So Corey went to the appointment, locked it up at $215,000, and we were excited. But then I found out, oof, it doesn't have a basement, does it, Corey? I looked a little deeper. He's like, it doesn't. So we ran our numbers wrong. We didn't have all the full information. Information. I gave that information to him. I just, you know, assumed it had a basement. So the problem was that we got it at the wrong price. So we had to go back and negotiate and get her down from $215,000 to really $170,000 because the basement adds a lot of square footage, and that's where we, we needed to be. Plus, I think $215,000 was still a little high.
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