Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Momma_bear, If you are going to say that the seller is not entitled to anything, then you have to say that the buyer is not entitled to anything either.I have also been a buyer and seller. Several times.
So what I keep hearing still is that it is all about the buyer. Well, it`s not and I`m not the only one who feels this way. What do the appraisels have to do with someone selling at market value. If someone is selling at market value, then the appraisel is most likely to match what they are asking. If the buyer wants to lowball under the appraisel and wanting for you to pay closing costs,etc then the buyer is being greedy. I`ve always paid my own closing costs. Why should I have to pay for anyone elses. It`s my money, not theirs.
manderly6, the seller also has to look out for his own best interest too.
I do not mean to offend by saying this, but a haughty attitude will get a seller no where in this market. I have been there and trust me, seeing our house being sold for 20% lower than what it had been appraised for just 6 months prior was VERY difficult to accept. But we knew what we wanted and were not willing to sit on the market for 6 months to a year waiting for a sale. . .because in the end, every month you wait, the less likely you will have a comp to support your list price--especially if there is a seller who's willing to fire sale their property.
We bought our home in 2006 and had it sold within 3 months of listing it. And YES we had to bend over and take it if we wanted to sell. We also rolled in closing cost because our bottom-line had been met. We agreed on a sale price and after that we agreed on closing cost. The closing costs did not affect what we agreed to walk away with. I think it would only be fair to say that a greedy seller would be concerned with the extra money that a buyer wanted to finance.
Anyway, at this point all sellers should decide whether they really would like to sell their homes before placing them on the market. I can testify that if there is no strong desire (or need), then one should step back and realize that they may have to wait quite a few years to obtain their desired price. We did not need to sell but we WANTED to sell. . .we were aggressive, priced right and open to negotiations (and insults). In the end, this paid off because we are now in the driver's seat. . .and we've learned that in this type of market it is best to keep emotion out of negotiations.
Momma_bear, If you are going to say that the seller is not entitled to anything, then you have to say that the buyer is not entitled to anything either.I have also been a buyer and seller. Several times.
They are both entitled to pay/get as little/much as possible. The reality is though that items like covering a mortgage or making a profit just don't factor in to that equation. The simple reason is that it doesn't change the market value of the house one bit.
Momma_bear, If you are going to say that the seller is not entitled to anything, then you have to say that the buyer is not entitled to anything either.I have also been a buyer and seller. Several times.
My comment was made in response to the idea that a seller is entitled to make a profit. IMO a seller is entitled to a fair price as dictated by market conditions. That's all they are entitled to.
I don't know why the absence of a statement about buyers would be taken to mean that I meant anything about buyers at all. If I talk about sellers I am talking about sellers. That does not imply anything, positive or negative about buyers.
I don't think anyone is entitled to anything in a real estate sale except a fair price and a commission (if earned by contract).
I don`t think ALL sellers are selling their house at an unrealstic price. A lot of the problems right now(besides the economy) is with the buyers. A lot of them have a since of entitlement and are just plain greedy. The seller has every right to make some kind of profit.Even if it might only be 3,000. Buyers forget that they sellers need to pay the agent and other closing costs. They need to have some kind of profit from their house in order to do that. It`s not all about the buyer and I see people taking their houses off the market because they won`t go any lower than they already have. Why should people give their houses away to a greedy buyer. Especially when it is priced right.
Haha!! I don't know why the bitter taste is lingering. We had a market where sellers dictated, darn near abused things, and now you're complaining about greedy buyers.
I doubt we'd be in this mess had sellers not been greedy themselves. Guess, who's laughing now? Buyers should learn they dictate a market, not the other way around.
Quote:
Originally Posted by manderly6
Greedy buyers? Buyers shouldn't care one bit about the sellers. They should try and get whatever house they are trying to buy at the lowest possible price. Sellers either agree to that price or they don't. End of story.
Sellers have zero "right" to make a profit. They have the "right" to sell their house for as much as they possibly can. If that makes them a profit great for them. If it doesn't, so be it.
Great Post!!
Quote:
Originally Posted by manderly6
As has been said a million times, a house is only worth what someone is willing to pay for it. That's it. Not a dollar more.
Point blank!!!
Quote:
Originally Posted by Momma_bear
I don't think greed has anything to do with it.
The sellers are not entitled to a profit.
They are not entitled to cover their mortgage.
They are not entitled to cover their closing costs.
They ARE entitled to sell their house for what it's worth or NOT to sell their house at all. If there is some profit in it for them, that's good. If there's not then there's not.
Remember-I am (and have been) both a buyer and a seller.
Edited to add: I don't think ALL sellers are unrealistic. But I have seen quite a few homes recently where the sellers were WAY out of whack with reality.
Another sensible post by Momma Bear! That's why the market is in the mess it's in now.
People were flipping houses like they were burgers, thinking it would never stop. Some thing had to give.
I don`t think ALL sellers are selling their house at an unrealstic price. A lot of the problems right now(besides the economy) is with the buyers. A lot of them have a since of entitlement and are just plain greedy. The seller has every right to make some kind of profit.Even if it might only be 3,000. Buyers forget that they sellers need to pay the agent and other closing costs. They need to have some kind of profit from their house in order to do that. It`s not all about the buyer and I see people taking their houses off the market because they won`t go any lower than they already have. Why should people give their houses away to a greedy buyer. Especially when it is priced right.
Obviously the home is not priced right if no one is buying it.
Wages are depressed, unemployment is high, there's less money in the system, less money flowing around and it's becoming less as more debt gets deleveraged, it's impossible for home prices to stay stable or increase.
Why do sellers have every right to make a profit if they made a bad investment or bought at the wrong time? Or because they decided to put zero down or have a neg-am loan? Why would I as a buyer pay for their mistake?
Next, I've bid on 4 foreclosures, ALL were multiple offer situations. And then sellers come on these forums complaining their homes aren't selling. Maybe their homes are in great condition, but these foreclosures now are in great condition also. Just some carpet and paint makes these homes just as nice. Not many people want to pay 20, 40 or 80K more for a move in ready home.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
