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If I knocked on your door out of the blue, and told you that you are living in my childhood home and I want to buy it. I'll give you 6 months to find another place to live.
How much (percentage over) the fair market price would you demand? 10%, 50%?
To rip up stakes and move again in an inflated RE market after two interstate relocations in four years? I would do it for double fair market. It would take that much to make me participate in one more real estate transaction voluntarily without urgent need.
If I knocked on your door out of the blue, and told you that you are living in my childhood home and I want to buy it. I'll give you 6 months to find another place to live.
How much (percentage over) the fair market price would you demand? 10%, 50%?
I have no emotional attachment to inanimate objects so I would sell you the home for about $5000.00 over what I paid for it just to recoup some of the cost of the small things I have had done to the house.
No need to wait 6 months either, bring the cash and you can have the deed since we paid cash for the house. I can be packed and gone in 7 days or less. I have a home I can go to at any time.
If I knocked on your door out of the blue, and told you that you are living in my childhood home and I want to buy it. I'll give you 6 months to find another place to live.
How much (percentage over) the fair market price would you demand? 10%, 50%?
I'd say nope, sorry, I love the house and plan on staying here after I leave my body. You'd be welcome to visit any time you want though. I will sell you my childhood home. It will be on the market in about two more years.
I like my house and neighborhood where I live. Just moved there 2.5 years ago. Have 2 kids under three. So it would be a major pain to move. It would probably take about a 15-20% premium to get me out. With that premium I think I can get a house similar to mine with all the bells and whistles. 6 months to close sounds about right.
I had this happen a few times when the market crashed. Actually had their agents send letters since its a guard gated HOA.
They were thinking we were probably upside down in our house. We paid cash. We just ignored them. I'm thinking if the agent did her job she could see their was no liens on our property. They'd have to pay me triple value and pay a mover to move us. Pack my things with me standing around supervising - doing next to nothing.
Hey we can all dream.
We are here for life. Can never find what we have here again. Coroner will be taking me out feet first.
Probably not, unless the offer covered all the costs of selling this house and buying another one AND all the moving costs (plus at least FMV, including the improvements we have done to the house). I hate the expense and effort of moving, and at my age am likely to have to pay someone to move all my stuff.
Living in a nice area in a low-vacancy-rate city, I get mail a couple times a month offering to buy the house. Not even worth the time and effort to open, I just recycle them.
1) We don't answer the door to strangers.
2) Our house is less than 5 years old, so you'd be lying about the childhood home thing.
We're not going anywhere for at least ten years. I'm getting tired of moving and relocating.
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