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Y'all are talking about some crazy DD fees that I haven't really encountered (of course, my clients have lost their share of homes). $1-3K up to $400K house? Sure. $5K on competing offers on an 800K house? Yes.
Did one recently that was a bit over $200k in a desirable area of north-ish Raleigh. $5k DD. Their agent had gone in the crawlspace ahead of time. Unfortunately they didn’t find everything (and no way would I ever imagine an agent finding this item) and one thing is going to be a bear to fix.
Many suggest renting here for at least 6 months before purchasing. You may think an area is great, based on weekend visits, then see what traffic nightmares there are during the workweek.
That is what we did in Pinehurst , we rented for a year to really know the area but Wake county compared to Moore county real estate is like a Great Dane vs a Yorkie. We visit and shop there but all the areas with all the new developments are overwhelming. More buyers than inventory . There today . So far we have looked at areas in Clayton, Garner and Wendell Falls. Now we are going to check out Holly Srings, Fuquay and Apex then Pittsboro.
Never heard of a bidding war unless you are buying something at auction. You submit highest and best and hope for the best. Have your agent ask when the seller would prefer to close, if appliances are important for them, and then give strong due diligence and price. Your agent can run comps and see what the home will appraise for. Some people list homes below market value and it sells for above asking. Get on an MLS search and look at homes the day they are listed. If your offer is contingent upon selling then renting would be a good idea. Contingent offers stand very little chance of getting accepted with other offers on the table.
Well being out of town, seeing a house we like list and then has a contract the next day before we can even get there , Some have 5 offers and the best one wins. So yes many sell above listing price. Our realtor said today more buyers than inventory. Saw some nice places today and one in the building process so that be our route
Try buying a home on Long Island and then talk to me about frustration with the process. My wife and I are in the early stages of downsizing and the same tactics we've used three other times still appear to be working. We define a reasonable range price-wise, specs-wise and location-wise and sift through those things that fall into the net. If there are too few options, we tweak the formula to avoid having the problem you're likely facing.
I mean, there are a whole lot of homes for sale in Wake County right now.
Oh yes lots for sale but more buyers than inventory. Especially with the number of folks moving to Wake county everyday. Hopefully we can find something out from the major areas. Being retired and no one in school we are not having to worry about schools or jobs
I thought I remembered the OP from prior posts. I thougt i remembered her expectatiins, wants, desires and budget to be difficult to nearly impossible. Turns out my memory is better than I thought it was.
I suspect that explains a lot of OP's frustration. OP, I'm sorry, but I'm having a hard time imagining that renting for six months is gonna change anything.
Since I started here we have looked from beach to Wake ( with possible Chatham county and Elon ) but now we feel due to some family changes we need to be closer to kids vs the beach. We are downsizing ,our price point is flexible but I’m so ready for something 1400 to 1800
This is not unique to Wake. My niece is going through the exact same experience in Northern Virginia. Waiting to hear on an offer they put in yesterday against 5 other offers.
Hope they take her offer. Might be age makes a difference too
Based on what I am seeing right now in my business, things are very hot right now, especially in the very range the OP seems to be looking. Not sure if people are trying to get in before interest rates go up or what, but things are selling quickly, with multiple offers and short, expensive due diligence periods.
Yes and being 65 and 67 we don’t get things moving as fast lol. It is frustrating , I had hoped to see a house today that was just listed last night it was already under contract when I got there today at 11. I’m in Pinehurst
We just lost out on an offer today against 10+ others in Southern Wake County. Market's crazy and you have to be creative with what you bring to the table. We were pretty competitive, but are pretty sure we lost out to someone who offered a ton of cash money (with a fast close) based on how their agent worded their response to everyone.
Sometimes you just have to accept that your best isn't going to cut it for some homes and all that really means is the home just wasn't meant for you. It's hard after having your heart set on one home, but gotta suck it up and get back in the game.
I say this as someone who is actively house hunting and has had their heart crushed multiple times.
So sorry you lost your bid for the house you wanted . We plan on this being our last move so not crazy on settling or being in not so good area We are just going keep looking . Good luck
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