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Not sure you know what the word "sole" means and why it was highlighted in my orig post. You mentioned 2 other reasons besides profit to motivate you to sell. I'll give you a 3rd -- you were moving and needed to unload your house. Selling for regular people is a means to an end. Selling for a flipper is *solely* for profit.
Lol those aren't reasons. I didn't sell to give my neighbors better neighbors.
I sold to get the equity out of my house. Period. And I bypassed 10 offers over asking for the highest cash offer with no contingencies.
If you're ever a seller, you'll begin to understand,
Who am I to determine what someone deserves to net? A prospective buyer! That's who. Who are you to determine what someone should spend over 400K on? Who are you to determine what someone sees value in? I'm no more angry at their attempted profit than the other flipper is annoyed by buyers who put in low offers because they "don't get it." It's minorly irksome. You're over estimating my emotional investment. Part of that I'm sure is how tone is hard to read in text form.
You are absolutely not entitled to decide how much profit a seller gets to net. What you are entitled to do is determine how much a house is worth to you and then not pay any more than that. How much of that value ends up in the seller's pocket is irrelevant.
Quote:
Originally Posted by Abby Schmitters
Well at least you view us as equally objectionable
Actually, I don't view either as objectionable, just the hypocrisy of suggesting that only the buyer should be able maximize their profit(or really equity), not the seller. I'm sure that once you actually purchase a home, you'll be changing your tune.
Some people will say that an ideal negotiation leaves both sides at least a little unhappy, and I think that's not wrong. Everyone wants to sell for the most and buy for the least, and the reality is almost always somewhere in the middle.
Okay well there's no love lost on either end. Just like there are other buyers, there are other houses too
If what you did was worth more to them, they would've given you more.
That's not at all true - someone who isn't hung-up on what I paid will pay market value. You're assigning "worth" and trying to decide what's "fair". People who think they can do research with just one previous sale price are unrealistic. Whether it's your subject property, or a comp that goes for a fire-sale price. Some people get deals, some people pay retail/market value. You don't get "wholesale" price unless you have the cash to close & the grapes to buy something without disclosures and warranties.
I know what I have & what it's worth, no one is getting a "deal" below market value on one of my properties unless they're offering something in return. Something like cash & a ten-day, no bs close. Even then, I've closed FHA deals in less than a month, so cash doesn't necessarily even net a discount..
Sometimes paying "too much" gets you a better value. Like $100 boots that'll outlast $30 boots five or ten times. Buying the "cheaper" house & trying to make it as nice as one of mine will cost you more & net you less every time I've sold one.
Lol those aren't reasons. I didn't sell to give my neighbors better neighbors.
I sold to get the equity out of my house. Period. And I bypassed 10 offers over asking for the highest cash offer with no contingencies.
If you're ever a seller, you'll begin to understand,
Of course I'd expect any seller to take the best offer they're given. Not sure what I said that made you think otherwise. But based on what I've read on CD and what I've heard IRL, most people don't sell their home just to collect equity. That's icing on the cake. Most people sell their house because they're moving. New job/relocating, other life change, need a bigger house, downsizing, etc. That doesn't mean they don't want the best deal, but their main motivation is to move on with their life. I've yet to meet anyone but you who sold their primary residence for the sole purpose of cashing in. Not to say your reasons are wrong, you're just maybe not status quo.
You are absolutely not entitled to decide how much profit a seller gets to net. What you are entitled to do is determine how much a house is worth to you and then not pay any more than that. How much of that value ends up in the seller's pocket is irrelevant.
How I arrive at the conclusion of what a house is worth *to me* is up to me.
It's tough to assess 'worth' with a flip house. They're often 'putting lipstick on the pig' with lots of attention to cosmetics and papering over real problems. The whole thing is driven by trying to get the most possible profit with the least possible labor and materials. That's the opposite of how I do renovations. I want anything I do to be good for 30 or 40 years. If something is opened up and I see a problem, it gets fixed.
Lol wth? I literally said:
"Okay well there's no love lost on either end. Just like there are other buyers, there are other houses too
If what you did was worth more to them, they would've given you more."
And you said:
Quote:
Originally Posted by Zippyman
That's not at all true - someone who isn't hung-up on what I paid will pay market value.
No sense discussing with someone who doesn't grasp the most basic concept in the world. I'm not saying you won't get a buyer. I'm saying that when you throw those low ball offers in the trash can, they don't care any more than you do. If they did and your product was worth more, they wouldn't have put in such a low offer to begin with. You actually seem even more angry that not everyone thinks your product is worth as much as you do than I am annoyed at greedy flippers marking up through the roof! But neither one of our emotions matter at the end of the day. You'll get buyers and I'll get a house, just not from one another
I have a sneaking suspicion if I had a male or gender neutral username, I wouldn't be called "entitled" for seeking a good deal. That's what everyone should be seeking in a transaction, including the flippers. Also, I'm not resentful of their success nor have they had success with this particular venture because the house hasn't sold. I'm merely scoffing at what they tried to do, and a few others here also saw an almost 6 figure mark up in 10 days to be worthy of an eyebrow raise. If *you* were smart, you'd see my posts as helpful to people trying to make a living as an agent or a flipper. This is gold. It's what real people think at face value and how you can get around some of their concerns.
I'm a woman. (Thus, the name Liesl.) You don't seem entitled because you're a woman who wants a good deal; you seem entitled because of your expectations being so disjointed from reality. Gender has nothing whatsoever to do with it. Playing the gender card was silly.
Who am I to determine what someone deserves to net? A prospective buyer! That's who
Well, again, you don't know what they'll net, just what they'll gross...
But in any case, "what they deserve to net" isn't a productive conversation; Its worth what a buyer will pay for it and since 99% of prospective buyers are working with a Realtor they will offer what the comps dictate. If it is a situation of "lipstick on a pig" than it will be obvious and languish on the market.
Your description indicates that its just that, painfully obviously lipstick on a pig. Most people aren't that stupid, and even stupid people are somewhat cautious when buying a house.
If its a really nicely done flip that's still 20% over market, it will again sit...I bought a flip. It wasn't my first choice to buy a flip, but its done and I like the house. I did pay over double what the seller paid for it. It also has a new roof, HVAC, vapor barrier in crawl space, fence, and cement pad in the driveway in addition to the typical HGTV flipper sparkle in the kitchen and bath. It sat for two or three months on the market at significantly higher than what it was listed for when we made our offer. At no point did I think "he's making too much money." I DID think that "he's listed 25% higher than what the other similar houses have sold for." Actually, I didn't think much of it at all. Then he lowered his asking price and we saw it. THEN, we made an offer and went through the appraisal process. Everything about my offer, what my Realtor advised me of, my own research on publicly available sales history, and the appraisal said aligned.
So your focus on what it last sold for is misplaced. If its a pig covered in perfume then its going to be obvious. THAT is what will ultimately hold buyers back. They will see nicer houses for similar money and walk.
How I arrive at the conclusion of what a house is worth *to me* is up to me.
Annnnndddddd....
How's that working out for you so far?
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No sense discussing with someone who doesn't grasp the most basic concept in the world. I'm not saying you won't get a buyer. I'm saying that when you throw those low ball offers in the trash can, they don't care any more than you do. If they did and your product was worth more, they wouldn't have put in such a low offer to begin with. You actually seem even more angry that not everyone thinks your product is worth as much as you do than I am annoyed at greedy flippers marking up through the roof! But neither one of our emotions matter at the end of the day. You'll get buyers and I'll get a house, just not from one another 
