“Almost ten years to sell the place, it sold at auction in about ten minutes.”
I just had to talk to him, touch him, be in his presence! And when I asked Clay Stapp if last weekend’s sale of Champ d’Or, that 40,000 square foot mega giant up in Hickory Creek, wasn’t by far the most amazing and interesting transaction he’s ever had he said : “For sure!” I think he’s still on cloud nine. Here’s how it went down:
Clay met the client, who is still nameless (but I’ve learned they are jet-setty baby boomers with grown kids and grandkids who have not been living in a home here, hence nothing to shed before moving into Champ, shucky darn) on a real estate transaction three years ago and the Stapps became friends. Clay went up there with him but the client, who is quite auction savvy, was the one doing the bidding. Clay had done all the research.
“I brought another client out there four months ago, and I put it in front of them, they talked about it, but then the auction came along,” says Clay. “They’ve done a few auctions in their lifetime, so they were intrigued.”
They went in with a budget, says Clay, and played their cards right. They’re very happy with their price. Was the reserve met, I asked?
“It’s close,” says Clay. “But Candy, really, I just can’t tell you anything more.”
Clay’s a tough guy to wrestle with.
But he did tell me the actual auction process was so fast it was over before he knew it. The auction was slated for 4 pm, but really got got started about 4:15 or 4:20 p.m. Once going, it went pretty quick with the auctioneer calling and bidding and then SOLD! There were about 30 people there, from where Clay was sitting he couldn’t tell if all 30 were actually bidding, but he doesn’t think they were. I think he said only a handful of people were actually bidding, those who had paid the $250,000 deposit just to be there. Beer, bottled water, sandwiches and finger food was served, but people wre too excited to eat.
By 4:30 p.m. it was done and Champ had new owners, HIS CLIENTS!!!! Talk about quick. Almost ten years to sell the place, it sold at auction in about ten minutes. His clients were amazed, surprised. Yeppers, Clay got a commission. They had already put up their $250,000 deposit and had to pony up another 10% of the agreed auction purchase price as earnest money. As with any usual real estate transaction, Champ closes at a local title company April 30.
Clay says auctions were an amazing learning experience for him — honestly, not that many residential Realtors have ever been to real estate auctions, even the most seasoned. I think, says Clay, they are a good way to sell a property because you see the true market value and the large deposit requirement keeps the looky loos out.
“It was fun, I had a great time!” says Clay. “I’m really happy for my clients, they got a great place at a great price!” That they did. In fact, when I was bugging Clay yesterday he was up with the buyers and Shirley Goldfield was giving them a complete tour. Furniture vendors and designers take note: they are planning on buying a LOT of furniture fill the place up, although Mrs. Goldfield (Shirley) has most of the furniture stuffed in a warehouse. She sold some, says Clay, but still has quite a collection that the buyers may peruse. The large white piano did go with the house. After hours on in-depth touring, they only found two issues with house and “they were so minor we all laughed,” says Clay. “That place is in such immaculate condition and was so well cared for.”
Clay and Candy at his Cedar Springs office opening
Oh yes, the new buyers are talking to the current caretakers about hiring them on since they know the property so well.
So I had to ask Clay, who has been a broker for all of three years — 3 YEARS! — and already crossed a ten million dollar sale — I ASSUME! What are they doing to celebrate?
“I do not get too excited about anything ’till the deal closes,” he says. “First I make sure the deal closes… then we take the office out to Nick & Sams!”
— Daily Local Real Estate Dish By Dallas Real Estate Insider — Candy Evans at CandysDirt.com