View Full Version : Selling my house.
Went on the market yesterday morning. Had 5 showings and two offers yesterday afternoon. One guy offered me 3% below list price. I'm inclined to take it but considering it's been on the market less than a day, I may hold off.
Honestly I'm just kind of over it, and either way, I'll be pocketing over $30k after all is said and done.
Wife wants list price though, so... how do I politely tell her she's stupid?
Shogon
06-18-2019, 12:58 PM
If you had five showings and two offers on the FIRST DAY then you
DaHeezy
06-18-2019, 01:16 PM
I wanna sell my condo. Bought for $250K 11 years ago. It's assessed at $615K now. I got a ton of equity in it. Housing market is kind of at a stand still here in Vancouver though. I might just use that equity to buy another property and use as a mortgage helper.
How's the market there?
[QUOTE=Shogon]If you had five showings and two offers on the FIRST DAY then you
DukeDelonte13
06-18-2019, 01:30 PM
Do you trust your realtor?
If so ask them what they think. They should know the market very well. Be careful though. It's a highly unregulated industry and a lot of realtors just push you to close the deal regardless if its good for you or not, because a quick turnaround on a property is always a good deal for them.
I wanna sell my condo. Bought for $250K 11 years ago. It's assessed at $615K now. I got a ton of equity in it. Housing market is kind of at a stand still here in Vancouver though. I might just use that equity to buy another property and use as a mortgage helper.
How's the market there?
Fire.
I had requests for showings less than 20 minutes of it being listed. Have a 6th showing today (2nd viewing for someone who looked yesterday) and a 7th showing scheduled for tomorrow morning.
TheMan
06-18-2019, 01:43 PM
Fire.
I had requests for showings less than 20 minutes of it being listed. Have a 6th showing today (2nd viewing for someone who looked yesterday) and a 7th showing scheduled for tomorrow morning.
Sell it at list price or closer than your first offer, bro people are interested in buying your house, what's the rush? You gotta think like a Jew (no offense), don't look at it as pocketing 30k, look at it like they do that you're leaving thousands on the table :lol
Hold up a few weeks, if that many people are interested in your house, surely someone will offer the list price or close to it.
stalkerforlife
06-18-2019, 01:47 PM
Getting a divorce?
Your wife sounds very mean and hard to deal with.
Long Duck Dong
06-18-2019, 03:18 PM
[QUOTE=Shogon]If you had five showings and two offers on the FIRST DAY then you
ItsMillerTime
06-18-2019, 03:33 PM
I'm in the same housing market as you and sold my house in March. Had easily 10 showings in the first couple days. 6 offers came from those showings. Two people got in a bidding war and actually offered me $11K over asking price.
Be patient. Accept any and all showings on your house and you should receive a decent offer.
Getting a divorce?
Your wife sounds very mean and hard to deal with.
Her father is a Jew.
Thus, why she wants to squeeze every dollar out of it.
Looking to invest into a condo and rent it out, but idk. By September I'll have $100k in excess unused cash. Idk wtf to do with it. I don't want to be so liquid. I have it in a savings collecting $148-160 a month but that ain't shit.
bladefd
06-18-2019, 05:09 PM
Give it 7 to 10 days. Be patient.
Long Duck Dong
06-18-2019, 05:14 PM
Looking to invest into a condo and rent it out, but idk. By September I'll have $100k in excess unused cash. Idk wtf to do with it. I don't want to be so liquid. I have it in a savings collecting $148-160 a month but that ain't shit.
It all depends on your market but I wouldn't feel the need to rush out and buy an investment property ASAP. There's very little chance home prices will rise significantly next year but there's a much better chance they will cool down next year. If the economy takes a hit and home prices see a definite downward trend, the more panicky home investors will start unloading properties causing a glut in the market bringing down home values even more.
bladefd
06-18-2019, 05:17 PM
Looking to invest into a condo and rent it out, but idk. By September I'll have $100k in excess unused cash. Idk wtf to do with it. I don't want to be so liquid. I have it in a savings collecting $148-160 a month but that ain't shit.
Check out betterment.com. Put a fraction of it there and let it grow.. Up to you how much - maybe a third or half or something not too crazy. You don't have to touch it for a decade and just let it grow. I don't have that sort of money but if I had 1/10 of that in cash sitting around in bank, I would use betterment.
nathanjizzle
06-18-2019, 05:38 PM
she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.
Meticode
06-18-2019, 07:31 PM
Give it at least a week. You very well could get 3% more than what you're asking just because of interest and people bidding against each other. Patience.
Jasper
06-18-2019, 08:26 PM
Went on the market yesterday morning. Had 5 showings and two offers yesterday afternoon. One guy offered me 3% below list price. I'm inclined to take it but considering it's been on the market less than a day, I may hold off.
Honestly I'm just kind of over it, and either way, I'll be pocketing over $30k after all is said and done.
Wife wants list price though, so... how do I politely tell her she's stupid?
tell her I waited 6 years , and finally sold my lake home.
Take the money and run. If it comes up a little short , you could be paying tax's until it is sold, and it would be more than the difference.
enayes
06-18-2019, 10:48 PM
I wouldn't be so quick to accept an offer that comes in under asking.
The buyer can try to weasel the price even lower during the inspection process, etc.
I like when listings state that there will be 2-3 group showings and that ALL offers will be reviewed on the Friday following the showings. This would put the pressure on the buyers (which sounds like you'd have a few) to get their best offers in right away.
Of course there's always the chance that you turn down this offer and nothing comes in at or above that price but that sounds unlikely.
*what's your asking price?*
ItsMillerTime
06-19-2019, 10:06 AM
she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.
:roll: :roll:
Derka
06-19-2019, 10:56 AM
I'd preach patience as several others have. 3% under asking within the first day is a non-starter unless the place needs a lot of work.
Proctor
06-19-2019, 12:36 PM
she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.
:roll: :roll: :roll:
This
she paid for most of it, its her choice. remember, she makes much more money than you so she makes the financial decisions.
Actually, she wasn't even on the mortgage or the title. She technically had no say.
But now that I work for the fed, this is no longer the case.
I make about $300 more than her. Still nice the wife is pulling in good money though, although she'll probably quit working once we have kids.
tell her I waited 6 years , and finally sold my lake home.
Take the money and run. If it comes up a little short , you could be paying tax's until it is sold, and it would be more than the difference.
It took you six years to sell your home???
:wtf:
MaxFly
06-19-2019, 05:58 PM
Perhaps, but we are talking about a 3% difference in price.
I get that some people would like to hold out for those few extra dollars, but I'm the type to take what I've got and be happy with it.
Especially considering we never planned on getting list price to begin with. We had always assumed 3% less, but because of the huge attention we got on our house day one, now she's being greedy.
Hold off for more offers. There's no reason to rush, especially given the amount of immediate interest in the property you have seen. Those "few extra dollars" may very well cover closing costs for you. It's not greedy to seek to get as much value out of your property as you can.
House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.
egokiller
06-20-2019, 05:29 PM
House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.
You moving to Carmel, IN?
Long Duck Dong
06-20-2019, 08:31 PM
House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.
What kind of funding does buyer have in play? A conventional loan?
stalkerforlife
06-20-2019, 09:24 PM
House sold 1% below list price.
Took four days.
Signed the paperwork this afternoon, going to put an offer on another house this evening.
Process was quick.
Why'd you sell?
Bigger place or just nicer?
You moving to Carmel, IN?
Nah. Moving back home to Louisville.
Why'd you sell?
Bigger place or just nicer?
Both. Actually made an offer on a new house tonight. Its sitting on 2.6 acres, which is a little more my style. Not really into neighbors and I have fires in my backyard a lot, which was technically banned inside the city limits. Also, wifes parents still live in Louisville. Her father is retired and her mom doesnt work, so... free babysitting in the event that I one day decide to have kids.
I liked Indy but never really considered it home. Kentucky has always been home to me.
What kind of funding does buyer have in play? A conventional loan?
Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.
Long Duck Dong
06-21-2019, 03:54 AM
Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.
The VA loan is better for you but not always for the seller. If a seller is choosing between bidders that have pretty much the same offer, you will likely be picked last behind FHA, conventional and of course cash buyers. VA loans have gotten a lot better but there's still that stigma attached for them being slow. If the property is a little bit of a fixer upper some sellers won't even bother with buyers armed with FHA or VA loans in a hot market.
nathanjizzle
06-21-2019, 08:02 AM
Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.
living off the government. government job, school paid by the government, mortgage by government program. no handouts though :roll:
dunksby
06-21-2019, 08:15 AM
Her father is a Jew.
Thus, why she wants to squeeze every dollar out of it.
Then all the more reason you should value her opinion.
living off the government. government job, school paid by the government, mortgage by government program. no handouts though :roll:
Benefits for putting my life on hold. Its called... planning. :lol
If you ever decide you want to move out of your mom's basement, the military is a good start. Hell, if you can qualify for the Air Force, they're about as ***** as could be. They're basically boy scouts, so you could avoid the chance of ever having to see combat.
Good news is, if I play my cards right, I'll retire at 46. You're still young, you could do the same with a little initiative.
The VA loan is better for you but not always for the seller. If a seller is choosing between bidders that have pretty much the same offer, you will likely be picked last behind FHA, conventional and of course cash buyers. VA loans have gotten a lot better but there's still that stigma attached for them being slow. If the property is a little bit of a fixer upper some sellers won't even bother with buyers armed with FHA or VA loans in a hot market.
Actually, I used quicken loans to do my last loan, and my refinance 9 months after, and it was a smooth process.
Not sure how much of that is Quicken or the fact that the VA has gotten better at streamlining their mortgage practice, but I couldn't have been happier.
I'll be using Quicken again this time around. Everything done over the phone and online. Had my preapproval letter in two or three days. They keep in regular contact with both of my realtors.
They're really good.
Now the VA hospital system OTOH... is still a disaster.
enayes
06-22-2019, 12:02 AM
Yes, and they're putting 20% down. Pretty sure it's an Asian lady, judging by her name.
Thank God for the VA home loan.
No money down. No PMI.
Perks to having been in the military.
I put no money down on my house purchase in December 2017.
NO PMI.
Got a check back for $650 at my closing.
I've never been in the military. There are other ways.
highwhey
06-22-2019, 12:32 AM
Benefits for putting my life on hold. Its called... planning. :lol
If you ever decide you want to move out of your mom's basement, the military is a good start. Hell, if you can qualify for the Air Force, they're about as ***** as could be. They're basically boy scouts, so you could avoid the chance of ever having to see combat.
Good news is, if I play my cards right, I'll retire at 46. You're still young, you could do the same with a little initiative.
when i worked at uber, worked with a lot of ex-army/marines, they all called the airforce, the
enayes
06-23-2019, 12:29 AM
OP, how much did your house sell for and what is the address?
Long Duck Dong
06-23-2019, 05:02 PM
I put no money down on my house purchase in December 2017.
NO PMI.
Got a check back for $650 at my closing.
I've never been in the military. There are other ways.
Let me guess. You have a great interest rate as well?
I'm always fascinated by these ppl who tell me that they put little or no money down, got a great interest rate, don't have to pay PMI etc and scoff at people like me with elite credit, put 20% down on a home and tried to time the market just right. "You don't need all that stuff to get a good deal on a home purchase!"
enayes
06-23-2019, 10:18 PM
Let me guess. You have a great interest rate as well?
I'm always fascinated by these ppl who tell me that they put little or no money down, got a great interest rate, don't have to pay PMI etc and scoff at people like me with elite credit, put 20% down on a home and tried to time the market just right. "You don't need all that stuff to get a good deal on a home purchase!"
Our interest rate is 4.5%, not the best, we could have got around 4% with a different lender but would of had to pay PMI.
We used the KeyBank Community Mortgage program.
**Wife and I both have elite credit as well. Have been churning cards for rewards for 5-7 years**
StickyWice
07-31-2021, 11:17 PM
Why not wait? Make more money now instead of then?
Stickyickyicky
Jasper
08-01-2021, 11:43 AM
right now this is not a buyers market , but a sellers market. You hold out for everything you can get.
My brother in law is shopping , and he has offered more than a list price on a home in Virginia - and was out bid.
Sounds good he has offers on his house , but replacement costs are ridiculous.
I built my carriage house 9 years ago , and replacement value right now is double the value I built it for. (it's my retirement home)
Current price for a 2 x 4 is $12 lol
Chick Stern
08-01-2021, 07:15 PM
Imagine selling you house in 2019
:yaohappy::yaohappy::yaohappy:
NugzFan
08-01-2021, 11:55 PM
Imagine selling you house in 2019
:yaohappy::yaohappy::yaohappy:
I was very confused at the OPs posts until I realized this was a 2 year old thread that was bumped.
this market is insane right now.
only problem is if you sell, you have to live somewhere.
I was very confused at the OPs posts until I realized this was a 2 year old thread that was bumped.
this market is insane right now.
only problem is if you sell, you have to live somewhere.
And covid only made things harder to handle too.
Cleverness
08-02-2021, 12:19 AM
Imagine selling you house in 2019
It looks like he ended up buying a new house right after he sold his old one.
StickyWice
08-02-2021, 09:43 AM
Imagine selling you house in 2019
:yaohappy::yaohappy::yaohappy:
you stpid dont use yao image
stickyickyicky
rawimpact
08-02-2021, 09:44 AM
Imagine selling you house in 2019
:yaohappy::yaohappy::yaohappy:
upgraded before the housing price hike
sounds like a solid move to me..
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