How We Got a Burlingame Condo for $340K Below the Original Price

SOLD in Burlingame. My buyers got this condo for $340K below the original listing price, but the deal almost fell apart...

When we first started working together, the budget was around $1M for a condo in Burlingame. At that price, there weren’t many options that my clients liked. So we looked at condos between $700K and $1.3M to understand the market. That’s when we saw this condo.

It wasn’t renovated, and it was listed for $1,295,000. My clients loved it, but we were just starting the search, so we moved on. We worked together for 8 months. Saw 28 condos. I also found 3 off-market opportunities by messaging home owners on LinkedIn (I looked up 586 people who owned a 2-bed condo in Burlingame, sent 162 messages, and 5 people messaged me back).

Eight months later… The same condo came back on the market for $895,000. Now it was renovated and staged. After negotiating with the listing agent, we wrote an offer for $955,000. And it got accepted. But there was one problem.

With the new balcony inspection laws, the process became a little more complicated. The HOA had completed a balcony inspection, which reported that our unit was missing something called “lag bolts.” It was time for us to remove the loan contingency, but the lender requested that the issue be repaired. I called the inspection company, but they double-checked that they only performed the inspections, not repairs. And then the lender called me.

During the call, an idea came up to visually check whether the bolts were actually there. The lender had a feeling that if the underwriter received photos showing the bolts on the balconies, it might be enough to move the process forward. Knowing that the report said the bolts were missing, I grabbed my toolbox and drove to Burlingame. I thought, if they’re not there, I’ll stop by Home Depot and install them myself. When I arrived, I was stunned.

First, I saw the bolts, and there was no way I could have installed them with my tiny drill. Second, they were already there. We had two balconies, and both of them had the bolts in place. I took pictures, and we got approved the next day. The deal was saved, and everyone was happy.

Sometimes saving a deal isn’t about negotiating; it’s about showing up and solving the problem. Happy for my clients! :)

If you’re trying to buy in the Bay Area and feel like every home is out of reach — or your offers aren’t getting accepted — there’s usually a strategy we can adjust.

I’m happy to walk you through it.