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well it's up to the op. the quality of advice she get's here will be proportionate to the info she gives us. If she chooses not to attempt to access more info then we've done our best for the situation as it stands.
I hear you. I made a post and the OP response was like I know that already.
My original post was to ask in this scenario, what is, if any, a buyer's advantage.... I really do not care "why" it is for sale already. Thanks for the replies.
Quote:
Originally Posted by MikeJaquish
No. No advantage.
Simple and clear.
Quote:
Originally Posted by LifeIsGood01
I hear you. I made a post and the OP response was like I know that already.
The OP got a solid answer to her specific question above.
Are there any advantages to the buyer, myself if I choose to make an offer after viewing it, on a property that has been owned less than 6 month's? And I am directly asking about purchase price.
Unless you know the owner has a "distress" situation (divorce, sudden medical diagnosis, need to move to new job, etc) I don't believe a buyer has any advantage. In fact not-knowing why someone is selling right after actually moving in would make me not buy. I would not rely on any information passed about "why" a seller is selling, just examine things that are public record. Anything else is unreliable.
If it was an investor re-selling fast that's completely different. But someone moving in and re-selling that fast, I would not buy.
My agents thoughts on this were that the seller would not take less than $140K. I'm aware I can tell my agent to make up an offer regardless of their advise. After a good night's rest, I've come up with an offer based on the facts the sellers needs a larger space and I do not have a property to sell and have time.
Now, will the response be "you need a better agent."
So you did not want to delve into the "whys," yet somehow found them out anyway and are now using that as part of the basis for your offer?
So you did not want to delve into the "whys," yet somehow found them out anyway and are now using that as part of the basis for your offer?
It was not a huge impacting factor, and yes, the seller was present while I viewed the property yesterday and said that they required a larger unit, preferably in the same area. The huge garage packed full of boxes and furniture confirmed that reasoning. I asked about the HVAC system age, they had know idea, then offered up the reason why they are selling and that they had not been there long.
Of course, my submitted offer this morning was based on the above facts, condition, that I have nothing to sell and can offer seller a longer closing time-frame, etc... If they accept, great, if not, they don't.
The "why's" can be an advantage, absolutely, never disputed that, just was not going to outright ask. Now, will I take offered information and use that for a possible advantage, of course.
I hear you. I made a post and the OP response was like I know that already.
Actually, my reply to your post
Plus if you do ask they can just say that they didn't like the area and you may never know the real reason.
with low HOA maybe he got wind of an large assessment coming for a major repair to the building.
All true. Past HOA meeting minutes, reserve funds, etc... will answer the latter. That's getting ahead of myself. I know to due my due diligence and thoroughly vet an HOA.
Plus if you do ask they can just say that they didn't like the area and you may never know the real reason.
with low HOA maybe he got wind of an large assessment coming for a major repair to the building.
All true. Past HOA meeting minutes, reserve funds, etc... will answer the latter. That's getting ahead of myself. I know to due my due diligence and thoroughly vet an HOA.
Same.... not really.
When more than one person says the same thing about you take note and don't get defensive. It's not them it's you. Maybe you don't realize how you are coming across.
When more than one person says the same thing about you take note and don't get defensive. It's not them it's you. Maybe you don't realize how you are coming across.
OP was never about why, someone else inserted that in to this thread. I actually did take note of that after and appreciate the input, yours included, it was not solicited though and not my question. This has already been stated.
Now, you would like to start about "more than one person says the same thing about you?" I'm not a runaround the bush twelve times before I say what I mean person. I am direct, to the point and understand buying and selling real estate. I would apologize if that bothers you or seems aggressive, however, there is no need to. Passing judgments on the other hand, maybe you do not realize how you just came across? Rhetorical question.
so what you're saying is, when you asked the question, you hadn't yet seen the condo.
now that you've seen it, you believe the value of "comps ranging 110-145K" puts this one below the $130K she paid a few months ago.
did she buy it as a private sale, or through the MLS/ her own buyers agent?
does she have it listed on the MLS, or as a FSBO? If listed, with her buyer agent, or with the prior listing agent who represented both sides, or with some unrelated agent - particularly an entry-only firm?
did you include the comps from the last 6 months that show, other than her ill-advised purchase, this unit is selling for your offer price?
The problem is that you say you don't care why they are selling it and people are telling you the best way they can let you know if it's advantageous for you to buy is to find out why they are selling it. Did they overpay, are there bad neighbors, did they get sick or just not like the area are there other problems with the unit. All these questions as to why determine if it's a valuable property to not.
If your question is after 4 months is it advantageous to buy a condo that seems like a good deal, no one can answer that without knowing other facts and why they are selling is an important question in my mind. After 4 months that should raise a huge red flag.
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