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The realtor came by and looked at it and liked it, but she said she is going to take some time to think about it. She mentioned there was another house she saw that she thinks she can get for less money (I assume a negotiating ploy to not seem too eager).
I was kind of frustrated that she was an older lady that didn't understand what an induction range was, so she wanted to pull out my high end Electrolux induction and get a gas range because the touch panel controls looked too complicated and she had previous bad experience with conventional electric ranges and now only cooks on gas. She could not understand how much nicer this induction range is compared to a typical electric stove.
I'm still pretty confident that this would be house for her since there is nothing on the market in this neighborhood that is as nice selling for the same or less money, plus I'm willing to deal with her timeline of still needing to sell her existing home and then short escrow period and some other sellers would not consider offers involving that unless that was the only offer they could get.
If she makes an acceptable offer, I'll take her offer to a real estate attorney to look over it and do the paperwork instead of relying on her to handle everything.
If she makes a low offer, I will pass and likely just refinance it for a lower interest rate while I still have enough equity to do a refinance and then plan on paying it off within 15 years and retiring.
If you do decide to sell do the same things you would do if I was buying it. This realtor sounds as if she is buying the house for investment purposes, possibly as a rental. If so, rest assured any offer is going to be a low ball amount. Don't replace any appliances that are in working order. Why should you because she doesn't like them or thinks they're "too complicated"? If I were buying the house would you replace them unless you planned on taking them with you? Don't try to convince her that the system is better, she won't listen and has made up her mind (maybe, it could also be a negotiating ploy).
If you do decide to sell do the same things you would do if I was buying it. This realtor sounds as if she is buying the house for investment purposes, possibly as a rental. If so, rest assured any offer is going to be a low ball amount. Don't replace any appliances that are in working order. Why should you because she doesn't like them or thinks they're "too complicated"? If I were buying the house would you replace them unless you planned on taking them with you? Don't try to convince her that the system is better, she won't listen and has made up her mind (maybe, it could also be a negotiating ploy).
You don't sound desperate so don't be railroaded.
The realtor is going through a divorce says she needs to delay any purchase for at least a few days while she works out with her lawyer and her husband how to make a purchase without it becoming community property. Otherwise she will need to wait for the divorce to be final.
The other house she mentioned she was going to look now is in sale pending status. So, if that sale goes through, my home will be the only house available that will meet her needs in this neighborhood.
I'll wait for a week or two to see what happens and then I will probably just go ahead and refinance at a low rate and stay here. I am willing to sell for the right price and move for a change of scenery and maybe buy a condo. Otherwise I'd rather just stay and enjoy living in this neighborhood.
With a little mortgage pay down, I can refinance to a 15 year mortgage at about 4% for a slightly lower payment than I have now
If she makes an acceptable offer, I'll take her offer to a real estate attorney to look over it and do the paperwork instead of relying on her to handle everything.
If she makes a low offer, I will pass and likely just refinance it for a lower interest rate while I still have enough equity to do a refinance and then plan on paying it off within 15 years and retiring.
Let me get this straight;
You're going to determine whether you live in this house for the next 15 years or not, based on the offer price one woman makes for your house.
Let me get this straight;
You're going to determine whether you live in this house for the next 15 years or not, based on the offer price one woman makes for your house.
Really?
I was thinking about refinancing and I was thinking about selling. This lady popping up out of the blue saying she will probably pay 100% cash and no realtor commissions makes selling more attractive than it would have been. Selling without a paying 6% commission will make it easier for me to sell at a market price without being short of the loan payoff after paying commissions. I don't "need" to move enough to pay 6% out of pocket to get out of the house. I'd rather just put that 6% money towards paying down the loan and refinancing.
I will refinance with a 15 year loan and stay at least long enough to make paying the refinance fees worth it. Just because I get a 15 year mortgage doesn't mean I have to stay the entire 15 years, but I might.
If I want to move in 6 or 7 years for some reason, I can still move then.
You need to use your own realtor or attorney to represent the seller. Just pay your agent, and dont offer a commission to the buyer's agent who is a realtor.
In my neck of the woods there are no buyers, at least not at fore-closure prices. I could sell my house if I were to drop the price about $40K, or about what it was worth in 1995, but if I did that I wouldn't be able to move or have any cushion for retirement. I have resources now. If I did that I wouldn't have any.
My house is in exceptional condition. Its renovated top to bottom and priced below anything competing, except for the fire sale items. Its hard to compete with Bank dumped foreclosures.
Guarantee: if a broker wants it, IT IS PRICED TOO LOW. My mother did that. She sold a house worth $200K to a broker for $135K. He made her feel like she was getting deal, but at 87 years old it wasn't hard to bamboozle her.
In my neck of the woods there are no buyers, at least not at fore-closure prices. I could sell my house if I were to drop the price about $40K, or about what it was worth in 1995, but if I did that I wouldn't be able to move or have any cushion for retirement. I have resources now. If I did that I wouldn't have any.
My house is in exceptional condition. Its renovated top to bottom and priced below anything competing, except for the fire sale items. Its hard to compete with Bank dumped foreclosures.
Guarantee: if a broker wants it, IT IS PRICED TOO LOW. My mother did that. She sold a house worth $200K to a broker for $135K. He made her feel like she was getting deal, but at 87 years old it wasn't hard to bamboozle her.
"Guarantee: if a broker wants it, IT IS PRICED TOO LOW."
That may not be the case at all, despite your mother's unfortunate experience.
We are people, too, and we need shelter.
We are able to fall in love with homes, and want them.
If it is unique and desirable, the agent may well just want to buy it to have it.
"Guarantee: if a broker wants it, IT IS PRICED TOO LOW."
That may not be the case at all, despite your mother's unfortunate experience.
We are people, too, and we need shelter.
We are able to fall in love with homes, and want them.
If it is unique and desirable, the agent may well just want to buy it to have it.
No offense intended to brokers. My brother is a broker in NC. And I have two close friends who are in this business. However, unless you can be assured that its for love, most brokers are in a better position to find the love house at an incredible price than the average bloke. My brother did and so did my two other friends.
Because of this fact, one just needs to be sure that it is really love and that the price the broker offered is competitive.
No offense intended to brokers. My brother is a broker in NC. And I have two close friends who are in this business. However, unless you can be assured that its for love, most brokers are in a better position to find the love house at an incredible price than the average bloke. My brother did and so did my two other friends.
Because of this fact, one just needs to be sure that it is really love and that the price the broker offered is competitive.
Well, yes. But you just watered down your Guarantee considerably.
Last year I offered to buy a listing after a deal fell apart.
No contingencies on condition, no inspection or repairs, no hassles over closing costs, mold, etc. Easy-Peezy.
Seller thought he would do better on this vacant property, with another agent.
5 months later, he sold it for the net price I would have paid. And I don't know if he had to do repairs. I know he didn't net a penny more than he could have netted 5 months earlier, yet he paid to carry the place for 5 months longer than necessary.
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