Would you rather sell your home to an investor or someone who will live in your home? (fees, price)
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Obviously, OP has a sense of responsibility toward the people living in the neighborhood. How nice to know that there are still people like that alive in The Zone Formerly Known as America.
Investors could turn the home into a rental unit. That happened in my old town, and endless grief to the decent people who had lived there for decades has been the result. All kinds of filth has moved into those rental houses.
Or the 'Investor' could knock down the home and put up a Section 8 InstaSlum building.
I think that caring about what happens to the people who have been one's neighbors is admirable. It's called Altruism. Real Americans are wired for Altruism.
it's not a section 8 issue. the neighborhood is too nice for section 8 and it's all single family. i would think about the neighbors, if i had the luxury of being able to pick from multiple offers and wouldn't have to pay much to choose a good fit for the neighborhood. i don't think all rentals are bad for neighborhoods. but what i do often see with rentals is more of a problem with the landlords, not the tenants. landlords tend to put as little into the property as possible, just taking care of very basic maintenance and often rentals get a rougher look, compared to the other homes.
If you got an offer from both an investor and a person who will live in your home, what would you prefer. I see it as a difference in emotional attachment to the deal. I'd prefer to negotiate with someone who is less likely to walk away. If I take the deal with the investor, he probably would be more willing to let the deal go and that would mean we have less leverage in negotiations. What do you think?
I would prefer to sell the home to whomever comes up with the price I am asking for first. After I sell it I really don't care who does what with whom and where. Not my property any longer, not my concern.
I would prefer to sell the home to whomever comes up with the price I am asking for first. After I sell it I really don't care who does what with whom and where. Not my property any longer, not my concern.
Here's the thing, you might not want to sell your house to an investor but if he comes with a full price, no contingencies contract and you reject it you'll likely owe your real estate agent his full fee.
Obviously, OP has a sense of responsibility toward the people living in the neighborhood. How nice to know that there are still people like that alive in The Zone Formerly Known as America.
Investors could turn the home into a rental unit. That happened in my old town, and endless grief to the decent people who had lived there for decades has been the result. All kinds of filth has moved into those rental houses.
Or the 'Investor' could knock down the home and put up a Section 8 InstaSlum building.
I think that caring about what happens to the people who have been one's neighbors is admirable. It's called Altruism. Real Americans are wired for Altruism.
So can the non investor. BTW where i live the section 8 buildings are very nice pools, tennis courts, golf putting, very well manicured. Not all section 8 apts are instaslums
So you think all renters are scum and will ruin a neighborhood. Interesting. I rented a house once.
You seem to have connected Section 8 with all renters.
All renters and section 8 are not the same group. Section 8 renters are a small group within the population of renters. I rented an apartment for several years before my wife and I had the down payment to acquire a house. We did not use section 8. When we looked for apartments, we only considered apartment complexes that absolutely refused to take section 8. Of course, when I asked them about it I pretended that I was using section 8 to pay for the apartment. If they knew I was avoiding section 8, they might lie to me and say they didn't take it
Back to original topic. I would sell the person with the best combination of net proceeds and likelihood of closing the deal. If they were very similar in both regards, I may sell to the person or family that I liked better out of respect for my neighbors. Since I respect them, I would not sell it to someone who planned to have loud parties and disrupt my (former in this scenario) neighbors unless the offer was significantly better.
We have about 60% rentals on our street. Of course money is important, but unless an investor came in at a significantly higher number than a live-in prospect, I would choose the live-in out of respect for my neighbors. An investor coming in that much higher is a situation I can't imagine happening, however.
Why should an investor pay more for the same property that someone who is going to live in it does? It's usually the other way around.
Investors know when to let a dog die.
If 60% of your neighbors are renters....who cares about the hood? Holding out for a higher selling price b/c the interested buyer is an "investor" MAY do nothing but raise the rent for all of your friends or bring in some section-8's.
Quote:
My most laughable experience with an investor came in Downingtown PA with the individual who put an insulting low-ball offer in and vehemently defending it by saying the needed to make money on the property too . . .
Without having anymore detail than what you offered; that's how the game is played.
All things being equal I'd prefer to sell to an owner/occupier rather than an investor, but it would honestly depend on the offer.
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