Recent Home Sellers: What has your experience been like? (sales, real estate)

[bourbonbelly]

I feel like there are a lot of threads and posts from the buyer’s perspective/experience, but I’m wondering what the home selling experience has been like for folks in Nashville.

Obviously there’s an inventory shortage and the market is crazy, but what has your personal experience been?

Don’t have a ton of exact questions in mind, more just general curiosity. Figure could be helpful for other folks looking to sell or buy.

A few questions to get the ball rolling though:

-Did you get multiple offers and if so, how far above (or perhaps below I suppose) did the final sale price land?
-How did the final sale price compare to the “estimates” provided by sites like Zillow, Redfin, etc?
-Did you find that your realtor overestimated, underestimated, or was about right at the final sales price?
-How much work did you do prior to listing, agree to as part of contract, or provide $ to buyer to complete the sale?

Looking forward to hearing from recent sellers and questions from potential buyers or people just interested in learning more about the current state of the market.

[Transplant99]

This is an interesting thread. I would consider myself a potential future buyer. I heard recently that if you're a buyer and not paying cash, then you should forget about buying a home. Apparently, from what I heard (and without independent verification) quick-close cash buyers are scooping up all of the inventory, leaving ”mortgage-funded peasants” (relax, it's a joke) in the dust.

[Canadian2021]

How can people afford 500 k plus in cash?

[Transplant99]

Some people could probably buy a million dollar home and not even notice a difference in their finances. That's definitely not me. Others borrow from relatives to avoid mortgage financing with a bank. That's not me either.

[VinceTheExplorer]

Originally Posted by Transplant99

Some people could probably buy a million dollar home and not even notice a difference in their finances. That's definitely not me. Others borrow from relatives to avoid mortgage financing with a bank. That's not me either.

We sold a home (down in FL) years back for $225k after buying it three years prior for $85k. The market had taken off and our buyer was a businessman from Trinidad that bought up 23 homes in the surrounding area, all for asking price, cash deals and quick closings.

He was looking to move his entire family (immediate and extended family members) to the states as they were getting death threats and threats of kidnappings back in Trinidad as he was known as being wealthy and affluent there.

He set each family up with their own house (from $200k - $500k) and two cars each ranging from 7 series BMW’s, Range Rovers and such then bought a few of them some local businesses too.

Think he spent somewhere near $23 million after it was all said and done, and all in cash, but he was also a reported multi billionaire (and TBH some of the nicest people we have ever met.)

We remained good friends after the sale of our home and used to attend their parties as we had bought another home nearby. The family would throw lavish parties and give out bottles of Dom Perignon to every person who attended, with one to take for the road if you wanted.

They came to love our family and said if we ever “had issues” with anyone, anywhere just let them know and “their people” would be there to handle it. Pretty sure I knew what they were implying, but were still really cool people to get to know.

Was crazy the amount of cash they had, but you wouldn’t know it by talking with the father. He spent tens of millions of dollars like we’d spend a thousand or two.

[N.Cal]

I haven't sold, but friends who are realtors say that in some neighborhoods, things are selling in a week or less (urban core).



In the past few months, I have been gettting calls all the time from people wanting to buy. I give them some crazy number (cash only) and that seems to get rid of them.



I note that in the last few weeks, some smaller companies or individuals (or as one calls himself, Real Estate Entrepreneur) have started back up on projects that were put on the shelf last year.

[Canadian2021]

You guys are right but working class wont be able to do cash deals i guess

[VoxTerra]

Originally Posted by Canadian2021

How can people afford 500 k plus in cash?

I can only assume they sell their current home, take that $$ to cash buy a new home.

Many people in CA now selling their 800K home and moving to other parts of the country and buying a home for $400k cash and banking the other half. Instant nest egg/retirement fund.