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Keep us posted. I'm interested to hear what your agent comes up with verses what the wife thinks it's worth
I got the comps back this afternoon from my agent. She provided a range that was what I expected. So 10k-15k less than what the wife has if listed for on Zillow. I’ve submitted an offer that is 10k less than what is being asked, and I’ve made it clear that while I’ll negotiate on things like closing date I’m not willing to go up in price. So we shall see. I’m pretty zen about it. If the sellers accept that is great and if they don’t they don’t and I’ll find something else. At least I won’t wonder.
We bought a house from a divorcing couple where the wife lived alone during the divorce. their divorce was very acrimonious.
We made a fair offer for the house which was well below the asking price. the house, while in a great town and neighborhood, needed lots and lots of work.
our offer was rejected quickly. We told our broker to call us if the couple changed their minds and continued to look.
our broker called us three months later and said they wanted to sell to us after all.
we bought the house for 1% more than we originally offered.
I got the comps back this afternoon from my agent. She provided a range that was what I expected. So 10k-15k less than what the wife has if listed for on Zillow. I’ve submitted an offer that is 10k less than what is being asked, and I’ve made it clear that while I’ll negotiate on things like closing date I’m not willing to go up in price. So we shall see. I’m pretty zen about it. If the sellers accept that is great and if they don’t they don’t and I’ll find something else. At least I won’t wonder.
This is much like a house we bought during the economic crisis. Owner bought it as a bank sale, planned on flipping, timing was bad and they ended up getting stuck with it when the market tanked. It was on the market for over a year and didn't sell.
We had worked a short sale nearby that failed. The house was identical to this house, with a slightly larger lot. We had an appraisal from the short sale house that wasn't 14 days old when we offered, using our appraisal for the basis of our offer.
Made it clear to his agent that there wouldn't be any counters or negotiating, our offer was firm and we had the facts to back it up. Take it or leave it, we would gladly move on.
He took it, but wasn't happy. He was so ugly, in fact, that his realtor wouldn't talk to him. Made him submit everything to her in writing via mail.
Has the craziness in Portland spilled over to you or affected even the Portland market?
We outsiders see the violence and have to wonder why anyone would move to a state that will not enforce it's own laws.
Oh gosh no. Portland has always had protestor/riot issues. I lived there for 10 years, 30 years ago and there was a KKK parade in downtown Portland (they had a permit) and there were about 100 of them and a couple thousand protestors. Portland has always had that dynamic between white supremacists and protestors for a long time. Generally, it only impacts about two city blocks in downtown Portland. I know people across the country think Portland is on fire with rioters, but it really is just a couple of blocks. That said, the DA is letting 90% of arrests go. You can't do that and expect people to change their behavior. I think the DA up there is nuts, and I think the mayor/city council is handling the situation poorly.
Portland's housing market is on fire and a lot of people love living there. I loved it 30 years ago, but I wouldn't move back up. The protests aren't a concern for me despite what you all see on TV, but I don't care for how they are handling numerous things including the homeless situation, which is really bad now and I hate the traffic. It is still a great city and we go up there regularly (well Pre-Covid) anyway.
In Salem, we are the state capital so we always have protestors at the Capitol. Most of the time I don't even realize one is going on. We had some punks graffiti penises on some of the Capitol statues during a 99% respectful people BLM protest, and then there were some far-right crazies that forced their way into our Capitol building and used bear spray on the police while carrying their Back the Blue Flag, but that is about all that happens here. Rose City Antifa and the Proud Boys tried to make some noise here and were shut down by the PD. The Capitol is protected by the Oregon State Police and they coordinate with our local PD. The local PD sends out a message to local business owners if they have a concern about a potential protest. I know a lot of the downtown owners go and protect their stores during those protests. It is just a non-issue here for the most part. My city is pretty moderate politically so we don't tend to like nonsense from either extreme.
Oregon is a great state to live in, but we do have funky politics here.
IMO tho...a good realtor wouldn't pass on your personal information or talk about your “decimated finances” because it may bring lower offers for your home. Why would the sellers even share that information with their realtor? It makes no sense to me. So...the ppl either want to sell their home or they don’t. It wouldn’t be worth it IMO....O.P. said she couldn’t even get a showing over the he said she said stuff.
The sellers don't have a real estate agent and have been freely sharing information. They are selling it FSBO. There is no duty of confidentiality on the part of the buyer agent toward the sellers.
Location: As of 2022….back to SoCal. OC this time!
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Quote:
Originally Posted by Silverfall
The sellers don't have a real estate agent and have been freely sharing information. They are selling it FSBO. There is no duty of confidentiality on the part of the buyer agent toward the sellers.
I would still totally avoid a seller that is dragging their feet...especially if she was telling my realtor all her business & how she doesn’t want to sell. By going FSBO they are just making it cheaper for themselves. I don’t want to have to fight to get a showing......like the O.P. had to go through. JMO...it wouldn’t be worth it.
My fiancé & I are talking about building a home...I can imagine how hard that would be if the custom home builders made it hard to show us a home they built because they wanted to complain about their divorce. Um..no thank you. No house would be worth that aggravation IMO. BUT I’m super lucky we already have a beautiful home....so I wouldn’t feel that pressure AND we don’t live in a small town so there are lots of options.
I would still totally avoid a seller that is dragging their feet...especially if she was telling my realtor all her business & how she doesn’t want to sell. By going FSBO they are just making it cheaper for themselves. I don’t want to have to fight to get a showing......like the O.P. had to go through. JMO...it wouldn’t be worth it.
My fiancé & I are talking about building a home...I can imagine how hard that would be if the custom home builders made it hard to show us a home they built because they wanted to complain about their divorce. Um..no thank you. No house would be worth that aggravation IMO. BUT I’m super lucky we already have a beautiful home....so I wouldn’t feel that pressure AND we don’t live in a small town so there are lots of options.
I would agree with you when inventory levels are good and/or you have a robust enough budget to build a home. When there are lots of options you can be picky.
However, I am in a situation where inventory levels are low, and even if there is a correction in the market will stay low due to the low population. And, I can’t afford to build as building starts around 50k more than I want to spend and everyone I’ve ever known who has built a house has spent a lot more than the base builders price.
My offer went to the sellers yesterday. They haven’t responded yet (or confirmed receipt), but I expect given the situation that they will need at least a few days to consult with their attorneys. I didn’t indicated when I needed a response because I understand that the complexities of their situation may make responding in 48-72 hours more challenging. However, I have also made it clear via my realtor to the sellers than while I love the house, I am continuing to look and should I find something else I like then my offer be withdrawn.
I also suspect that the wife, in particular, needs to be shown the actual numbers. The offer I made will net she and her ex-husband the around the same amount as if she lists at her current sales price with a realtor (customary commission is 6%). To net the amount that she has the house listed for on Zillow when using a realtor she would need to increase the price by 25-30k, and that would bump it into a price point where houses even in their sellers market tend to sit for months on end. But, it may be that the wife needs it to go on the market at a specific price for her to accept that it is not going to sell for what she wants. If that becomes the case, then it’s not the house for me, and I figure I’ll find something else.
Ugh. I will say I don’t live in California or a state with similar rules. I was thinking more damaging or destroying parts of the property. Or never agreeing to accept an offer.
Yes, this. She could and probably would just not sign to mess with her ex. I doubt she would damage unless she is totally crazy because it would be you she hurt not the husband. There will be another house.
Location: As of 2022….back to SoCal. OC this time!
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Quote:
Originally Posted by ea1420
I would agree with you when inventory levels are good and/or you have a robust enough budget to build a home. When there are lots of options you can be picky.
However, I am in a situation where inventory levels are low, and even if there is a correction in the market will stay low due to the low population. And, I can’t afford to build as building starts around 50k more than I want to spend and everyone I’ve ever known who has built a house has spent a lot more than the base builders price.
Oh..I know you explained your situation & ita. I do feel for you AND I admit we can be super picky. We aren’t totally sure we are going to move...we might do a little remodeling instead because we love the property & the view AND the neighborhood. I would like my fiancé to finally decide to sell his penthouse in the city...tho it’s not up to me & I am not the one that would have to commute.
I also suspect that the wife, in particular, needs to be shown the actual numbers. The offer I made will net she and her ex-husband the around the same amount as if she lists at her current sales price with a realtor (customary commission is 6%). To net the amount that she has the house listed for on Zillow when using a realtor she would need to increase the price by 25-30k, and that would bump it into a price point where houses even in their sellers market tend to sit for months on end. But, it may be that the wife needs it to go on the market at a specific price for her to accept that it is not going to sell for what she wants. If that becomes the case, then it’s not the house for me, and I figure I’ll find something else.
You are believing that you are working with a rational person on the other side of the deal. Likely not so in divorce proceedings. I won't tell you how i know.
There is anger, hatred, emotion and the "i want to screw the other person as hard as i can" at work in a divorce. The person making the decisions will do anything to appease their ego, however misguided. Eventually they might even sell the house below market if they can convince themselves that the low price hurts the other person.
If you are into drama, and have lots of time, hang in there. But don't believe for a moment that it isn't going to be drama like you have never seen before. Whatever you do, do NOT get involved with either party over "deal making". If the seller (really, the woman) finds out you are brokering a deal which in any way remotely helps the husband, you will NEVER buy that house as along as she has any control.
Knowing you have no options in that community gives you the advantage of time, but that is about it.
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I think the DA up there is nuts, and I think the mayor/city council is handling the situation poorly. 
...like the O.P. had to go through. JMO...it wouldn’t be worth it. 
Um..no thank you. No house would be worth that aggravation IMO. BUT I’m super lucky we already have a beautiful home....so I wouldn’t feel that pressure AND we don’t live in a small town so there are lots of options.
