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Cliffs:
- Paid $265k in 2011
- Current slowish market shows we could sell anywhere between $310-320k (market is slow due to winter and neighbours being overpriced - properly priced homes have been selling very quick)
- Brand new large deck and high-end pool put in last summer (worth $10k - pools are desirable here)
We have to move urgently for job transfer/medical reasons. One of my H's boss, who is involved in this transfer, is actually looking for a home in our small area and is renting with a month-to-month lease. He is willing to pay no more than $300k for a home.
Would we be insane to just go a straight $300k and get out of here? We are desperate to move and my thoughts are that the possible $10k+ are not worth the stress of showing a home with two very little kids, especially with a cross-country move involved.
Cliffs:
- Paid $265k in 2011
- Current slowish market shows we could sell anywhere between $310-320k (market is slow due to winter and neighbours being overpriced - properly priced homes have been selling very quick)
- Brand new large deck and high-end pool put in last summer (worth $10k - pools are desirable here)
We have to move urgently for job transfer/medical reasons. One of my H's boss, who is involved in this transfer, is actually looking for a home in our small area and is renting with a month-to-month lease. He is willing to pay no more than $300k for a home.
Would we be insane to just go a straight $300k and get out of here? We are desperate to move and my thoughts are that the possible $10k+ are not worth the stress of showing a home with two very little kids, especially with a cross-country move involved.
Would you forgo the listing process?
Based on your numbers, if he is willing to pay $300k, it sounds like a good deal to me!
With an agent you'll have to pay commission and there is always the matter of the buyer being qualified to buy. With your husband's boss, there will be no commission (a savings for you) and the assumption he qualifies. Get yourself a good real estate attorney and let him/her handle the question of qualifying and take care of the rest, title search, contract, etc.
Based on your numbers, if he is willing to pay $300k, it sounds like a good deal to me!
With an agent you'll have to pay commission and there is always the matter of the buyer being qualified to buy. With your husband's boss, there will be no commission (a savings for you) and the assumption he qualifies. Get yourself a good real estate attorney and let him/her handle the question of qualifying and take care of the rest, title search, contract, etc.
Agree. I don't know what commission rates are common up in Canada, but I'd take the $300k and run.*It is a sure thing that meets your needs with no commissions (but get an attorney to help), vs. going for $320 with commissions, which is an unknown risk in a winter market.
Don't focus on the price. Focus on the net to you after the sale. That is the important number.
The commission is 3% by the job and then either you get an agent to work for 3% or you out-of-pocket them the other 4% (because 7% is the standard here). It's a bit silly yes, but the commission would either be $12k or $0 (and it would be a real hassle to find any agent willing to do 3% - last time, we had to do the pictures and showings ourselves in exchange)
Besides saving on the commission, the other question is how much would it cost you to keep the house for the extra time you are showing it. If that house were around here (in NY), you might spend $2,000 or more in mortgage payments for 3 months after you find a buyer so $6,000, plus if it takes you two months to find a buyer then all of a sudden that is a total of $10,000 you have to still account for somewhere. The price difference you are talking about to me is small enough that just saving the $4,000 alone makes it worth while, and it could get worse if it takes longer. I would say what seems like it should be a sure thing is well worth the difference.
Cliffs:
- Paid $265k in 2011
- Current slowish market shows we could sell anywhere between $310-320k (market is slow due to winter and neighbours being overpriced - properly priced homes have been selling very quick)
- Brand new large deck and high-end pool put in last summer (worth $10k - pools are desirable here)
We have to move urgently for job transfer/medical reasons. One of my H's boss, who is involved in this transfer, is actually looking for a home in our small area and is renting with a month-to-month lease. He is willing to pay no more than $300k for a home.
Would we be insane to just go a straight $300k and get out of here? We are desperate to move and my thoughts are that the possible $10k+ are not worth the stress of showing a home with two very little kids, especially with a cross-country move involved.
Would you forgo the listing process?
YES!
Anything to avoid the showing process, especially with your family situation.
Like everyone said go for it, good luck I hope it works out making your move easier.
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