Bookmarked 24 of them this past Sunday
All 24 have sold in 5 days
Bookmarked 24 of them this past Sunday
All 24 have sold in 5 days
Did you get preapproval for a mortgage or are you rolling that deep?
I ask because, as someone who literally just walked down this road, you absolutely have to be ready to jump on shit immediately if youre seriously interested.
I did the whole 'oh Ill just wait until something interesting comes to market and then line up my resources' bit and it went incredibly poorly. Point being, there is no trying, only doing.
"Birds born in a cage think flying is an illness." - Alejandro Jodorowsky
"America is not so much a nightmare as a non-dream. The American non-dream is precisely a move to wipe the dream out of existence. The dream is a spontaneous happening and therefore dangerous to a control system set up by the non-dreamers." -- William S. Burroughs
I'm pre-approved.Originally Posted by sonatine
I sold my townhouse maybe 2.5 months ago but it was understood we would not close till end of June. So time is fast approaching that window and our buyers just cemented their financing Tuesday.
Plan now is to just fire blind on houses I really like from pictures and google earth and if I find something wrong I back out at the inspection.
If you waited 2 months to buy where I live that would have cost you dearly.
I had a house I wanted to sell last year, all priced out and realtor ready to go, but i couldn't get the renters to leave. Good tenants and had been there 10'years so I let them stay until last month. Got lucky. The list price is 15% higher. Under contact in 2 days.
We did the same thing as you did, just browsed and watched them sell faster than you can imagine. We even went so far as to taking a few walkthroughs. Every one sold before we put in an offer and my wife was getting way too attached to some of these houses
Ended up setting up some notifications based on parameters that were deal breakers for us. On the weekend of her birthday, a house we really liked popped up on the MLS at 7am. We were literally standing in the house at 8am, put an offer in that was 7500 above listing price at 8:30 and won the bidding war with what allegedly ended up being a half dozen other people.
Point is, be ready to fire early and don't be afraid to go higher than listing if you really want it. Some will disagree, and sheboon is a fucking nut job, but that worked for us.
Last edited by wrenchjockey; 05-26-2017 at 05:06 AM.
I listed my house on a Saturday, by Monday morning we had 6 offers, all but 1 were above ask. Ended up getting 15% above asking price on Tuesday. Not a lot of inventory out there
We pray for understanding as we all occasionally request back door action by accident, when we tried to call an electrician. It happens, it simply happens.
i had my house listed for like a year and ended up having to bring $40,000 to closing just to get rid of it
The "low list price creating a bidding war" trick has become very popular in the 2010s.
It reels in the fish who believe might be getting a spectacular deal. They rush down to the property (which otherwise they might not have done with such urgency), walk through it, and talk themselves into wanting it, partially because of the great deal that it appears to be.
Then the bad news drops that there's competition -- lots of competition -- and you're encouraged to put in an offer well above list price.
Since you won the bidding war for only $7500 above list, you didn't do badly here, provided that the original price which attracted you was good.
But I have seen houses list at $800k which are probably worth $850k, and then they end up selling for $900k because of lol bidding wars.
To get the best deal, you're best off finding one listed by an agent who seems fairly lazy and isn't promoting it very well. You're unlikely to get a good deal with an agent who is part of a well-oiled machine which includes open houses, snazzy pictures online, and a prepared sales pitch as soon as you walk in the door.
Also, it's not a bad idea to put the word out with agents you deal with of what things you're looking for. So if you see a house you like, but its location is too noisy, tell the agent, "You know, I really like this place, but it's too noisy. If you find something similar, which doesn't have this noise problem, please give me a call." Sometimes they will take down your info and actually call you when something comes up, even if it's not their listing (because they get a finders fee in most cases).
Druff's innocent post triggers the most important reminder during this process.
Your real estate agent & the listing agent are not your friend. It's ridiculous & naive to think of any agent as working strictly in your interest.
Real estate agents are looking to book a sale. The sales game is about volume - closing quickly and moving on for the next kill.
Do not confide any information to your broker. How much you truly have to spend, for instance. Local agents know each other. Your motivation etc will be shared. They both want to close. Their interest is not yours.
Agents are a necessary tool not your buddy.
You are aware that the home inspection is your out. Excellent. Find your own inspector. Do not use one referred by your agent. They are pals. He will be reluctant to queer her deal ("her" always some clueless empty nest housewife).
This is a rare serious post.
Tell me you are looking around Sudbury. Avoid the homes of Coco Crisp, Shaq or any other athletes that played for a Los Angeles team.
Dennis Eckersley would be an exception
100% truth. I had 3 different sales people try and convince me to list my house for $45K under what I sold it for. All these guys want is a quick sale, super quick. The money is getting someone to agree to sell something at 90% of what it's worth in a week. The agent would rather get $11,250 on a $450,000 sale in a week than a $12,500 on a $500,000 sale in 2 months.
Luckily in my case, my realtor was my first cousin, my home inspector was a lifelong friend. But yeah, realtors are paid on commission, and it would not shock me in the least to know they artificially price low to create a bidding frenzy, which drives up their take.
China, promise you'll post a photo of the gym bag full of cash that you'll bring to the closing.
http://www.nytimes.com/2005/02/20/bu...=0freakonomics. famous U of C study on this.
100% truth. I had 3 different sales people try and convince me to list my house for $45K under what I sold it for. All these guys want is a quick sale, super quick. The money is getting someone to agree to sell something at 90% of what it's worth in a week. The agent would rather get $11,250 on a $450,000 sale in a week than a $12,500 on a $500,000 sale in 2 months.
Big mistake, you are intentionally buying at the top of the market, which is fine if you plan on being there for the next 15-20 years. But if you are someone that gets antsy after 5 years, you are going to be stuck unless you are planning to bring money to closing to sell. What a prior poster stated, the big issue is lack of inventory as builders were exceptionally conservative the last few years after 2008. Best to rent for a couple years, and wait for a recession to balance things out. But here again, if the area and house you buy is where you want to be for 20 years, a $20K premium is not a big dealI'm pre-approved.
I sold my townhouse maybe 2.5 months ago but it was understood we would not close till end of June. So time is fast approaching that window and our buyers just cemented their financing Tuesday.
Plan now is to just fire blind on houses I really like from pictures and google earth and if I find something wrong I back out at the inspection.
There are currently 1 users browsing this thread. (0 members and 1 guests)
Reply With Quote