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I guess I'm lucky in that the houses that I've wanted I always paid less than the asking price. I don't believe in paying more or bid wars. Just not my style.
Yes, I agree with your sentiments. I think bidding wars create panic and hysteria. No way to make a logical decision.
My grandfather once said "Never be desperate-- its a house, not a marriage proposal. Save your desperation for your marriage ."
Yes, I agree with your sentiments. I think bidding wars create panic and hysteria. No way to make a logical decision.
My grandfather once said "Never be desperate-- its a house, not a marriage proposal. Save your desperation for your marriage ."
haha, I like that
I admit that we were definitely emotionally attached to our current house...but to an extent. Our mantra was that there are always other fish in the sea, even if not at that time.
I guess I'm lucky in that the houses that I've wanted I always paid less than the asking price. I don't believe in paying more or bid wars. Just not my style.
It depends on where you live, as to the time on market it takes to sell a home, and the local housing demand as to the price you will pay to buy a home.
In some areas, you can expect the winning offer to be less than the asking price. This simply means, the supply of homes for sale, exceeds the potential demand for homes, with only enough buyers to buy about half the homes on the market.
In some areas, the supply of homes for sale, is far below the demand for homes. The selling price will be above asking price in all situations unless the home is priced completely out of reason. Often a seller or agent will price the property say $10,000 below the potential sale price, and this will trigger a bidding war, and get to where it almost like an auction.
It might not be your style to pay more than the asking price, or get into a bidding war if you want the property, but if you want to buy a home, you are going to have to get in a bidding war in certain very hot markets.
I know nothing about the center of the country-- never really had many dealings in the midwest. Yes I am clueless. I was born and raised in Sweden. Why don't you tell me what you know about our real estate laws?
This is the kind of stuff I would get in my inbox:
Those are boarded up shacks. The town sells the home for a dollar, but then you will need to pay the back taxes owed. Not to mention their in crime ridden areas. They sit till someone does actually buy them, tear them done, rebuild something cheap to rent.
As far as real estate laws, I'm not sure exactly what you are asking in regards to that, but every state has different laws so I couldn't go into that anyway. Plus I'm not a lawyer.
Those are boarded up shacks. The town sells the home for a dollar, but then you will need to pay the back taxes owed. Not to mention their in crime ridden areas. They sit till someone does actually buy them, tear them done, rebuild something cheap to rent.
As far as real estate laws, I'm not sure exactly what you are asking in regards to that, but every state has different laws so I couldn't go into that anyway. Plus I'm not a lawyer.
They haven't sold them for a dollar in quite a while. Of the two posted articles, one is old and the other one is a narrative about a house they bought years ago.
Most are auctioned and bidding starts at $1,000. They have to pay the current year's taxes, not back taxes.
The burned out shells are usually bank owned or are owned by out of state/country owners who thought they could make easy money. Burned out city owned properties get torn down (eventually) and they usually try to sell the lot to an adjoining neighbor. Or anyone if the neighbors aren't interested.
I offered quite a bit below list price when I bought my house in 2010 .. but it was a totally different market .
I'm getting ready to sell the home and I'm seeing homes in my area go for quite a bit more then list .
Like others mentioned many markets now have more demand and not enough supply of homes .
So, add you to the list of people who would prefer to overpay just because you could come in under list price on a property that is overpriced to begin with?
No, not at all. I would not overpay nor would I ever go over list price. I most certainly would do my homework in an area I might be interested in and maybe depending make an offer under list price.
No, not at all. I would not overpay nor would I ever go over list price. I most certainly would do my homework in an area I might be interested in and maybe depending make an offer under list price.
This whole buying and selling is a game
"I would not overpay nor would I ever go over list price"
But, those are two entirely different topics. Totally unrelated.
Yes, I've done it personally. And yes, I've recommended clients do it IF the comps support a higher number.
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