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Old 06-16-2016, 06:58 AM
 
Location: DFW Metroplex. Not TX-born but never leaving.
301 posts, read 571,019 times
Reputation: 194

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We just closed on and moved into a home in Coppell this week. We were looking in the 350-450 range. We ended up getting the fourth house we offered on and that doesn't include many that I would have liked to see but they went under contract within 1-3 days. The market in Coppell is crazy right now. We compromised on a couple of things as well. Taxes here are pretty high but there's a list posted on these forums elsewhere that show the amounts for all of the DFW cities and Coppell isn't as high on the list as I thought (which is kind of scary). You really should contact a realtor and very possibly won't be able to decide on a viewing list until you are in town due to the speed in which the houses go under contract for the active option period.
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Old 06-16-2016, 12:09 PM
 
3,478 posts, read 6,558,671 times
Reputation: 3239
Our friends are under contract in Coppell and had to agree to a 9 day leaseback, during which the sellers will not be paying any rent!
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Old 06-16-2016, 02:04 PM
 
Location: DFW Metroplex. Not TX-born but never leaving.
301 posts, read 571,019 times
Reputation: 194
We were offered more days than that as a free leaseback on the house we just sold in the DFW area. We definitely appreciated it and it was one reason we took that offer. FYI our house went under contract in 36 hours.
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Old 06-16-2016, 03:05 PM
 
500 posts, read 583,675 times
Reputation: 772
Quote:
Originally Posted by mSooner View Post
Our friends are under contract in Coppell and had to agree to a 9 day leaseback, during which the sellers will not be paying any rent!
We gave the sellers of the house we are purchasing a 1 week leaseback with no rent.
However, that is with them, he is the builder, painting 3 of the secondary bedrooms for us during that period. Worth it to me!
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Old 06-16-2016, 03:55 PM
 
Location: DFW
40,951 posts, read 49,189,517 times
Reputation: 55008
Quote:
Originally Posted by mSooner View Post
Our friends are under contract in Coppell and had to agree to a 9 day leaseback, during which the sellers will not be paying any rent!
I have a seller in Frisco getting 45 days rent free, buyer paying title policy, no warranty and 3% over list.
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Old 06-17-2016, 01:10 AM
 
241 posts, read 381,964 times
Reputation: 228
Quote:
Originally Posted by Rakin View Post
I have a seller in Frisco getting 45 days rent free, buyer paying title policy, no warranty and 3% over list.
Good grief...
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Old 06-17-2016, 04:59 PM
 
14 posts, read 13,513 times
Reputation: 10
We pretty much are ready to sign with a realtor. However the clause says "if the seller is not willing to pay the commission, then we must pay the commission." Is this normal?

Also pretty confused whether to rent a house for now (with 2 months rent as lease break damage clause in there) and then slowly look to buy a house. We are definitely overwhelmed and do not want to make a quick decision unless we are 99% sure that we can sell the home 1 or 2 years down without a loss - if not at profit. We will be taking some loss on our current home.
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Old 06-17-2016, 06:20 PM
 
Location: DFW
40,951 posts, read 49,189,517 times
Reputation: 55008
Quote:
Originally Posted by MoveFamily View Post
We pretty much are ready to sign with a realtor. However the clause says "if the seller is not willing to pay the commission, then we must pay the commission." Is this normal?
Yes it's normal. All homes in the MLS system pay a commission to the agent. You would pay a fee if you went out and found a By Owner house and wanted to use your agents services if the seller did not pay.
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Old 06-17-2016, 08:25 PM
 
Location: Kaufman County, Texas
11,856 posts, read 26,881,949 times
Reputation: 10608
It's difficult to say if you could break even in 1-2 years, even in the current hot DFW market. Usual rule here is 5 years to recover closing costs/commissions. For that short of a time, I would just rent.
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Old 06-17-2016, 10:11 PM
 
Location: 89052 & 75206
8,151 posts, read 8,350,911 times
Reputation: 20086
Quote:
Originally Posted by MoveFamily View Post
We pretty much are ready to sign with a realtor. However the clause says "if the seller is not willing to pay the commission, then we must pay the commission." Is this normal?

Also pretty confused whether to rent a house for now (with 2 months rent as lease break damage clause in there) and then slowly look to buy a house. We are definitely overwhelmed and do not want to make a quick decision unless we are 99% sure that we can sell the home 1 or 2 years down without a loss - if not at profit. We will be taking some loss on our current home.
Really, if you know you'll only live in the house 1-2 years renting makes the most sense!
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