Selling a house

• justincredible

  

  ernest_t_bass;1845268 wrote:What is your plan (again) on moving to the country? Timeframe.

  We want to find a piece of land in the next few years and then build on it in 5-7 years.
• ernest_t_bass

  

  justincredible;1845269 wrote:We want to find a piece of land in the next few years and then build on it in 5-7 years.

  Personally, if I knew I wanted to move I'd be looking for a couple things for this half-way house.
  
  1) Make sure it is a house that will be very easy to sell whenever I want (up and coming neighborhood definitely good)
  2) Make sure it is a house where I won't lose a dime.
  3) Don't waste a bunch of money (or time) on this house (fixing it up) unless it adds a lot to the resale.
  
  It's only my 2 cents. My focus would be on moving rather than the current house. Hell, why not just look for a house in the country with some land now? You don't have to keep the house. If land is big enough, you could zone off the house and sell it and keep the land when you're ready to build. Just throwing shit out there.
• justincredible

  

  You've more or less described our plan. We can't move to the country quite yet because my wife's commute is already longer than she wants and when we move to the country it will be farther away than we currently are.
• Belly35

  

  The wife and talked about downsizing to a smaller home but the amount of shit we have, space now and we still have some of our daughter stuff... The task is huge. Plus she would like a house in kinda gated community. Not sure I'm ready for that type of restrictions bs. Not many gated type communities and gated homes proved for diesel trucks
• justincredible

  

  Belly35;1845287 wrote:The wife and talked about downsizing to a smaller home but the amount of shit we have, space now and we still have some of our daughter stuff... The task is huge. Plus she would like a house in kinda gated community. Not sure I'm ready for that type of restrictions bs. Not many gated type communities and gated homes proved for diesel trucks

  No way I could do a gated community or a neighborhood that had an HOA.
• justincredible

  

  We've viewed a house that's been in the process of renovation a few times over the last few months. We saw it again last Saturday after the floors were finished, the last big thing to complete before listing. In the beginning of the process the seller said he expected he would list it around $125k. We find out that he's going to list at $135k on Friday. We were still okay with that price (my wife more so than I) so we were going to put in an offer. The seller responded back that he isn't accepting offers until it goes on the market.
  
  We hear back from our realtor today and he apparently wants to raise the price even higher, but is afraid that the house won't appraise that high due to zero comps in the neighborhood. This would be BY FAR the priciest house in the neighborhood at 2 bed, 1 bath. He said he would honor the $135k price for us if we were willing to waive the appraisal contingency and pay whatever the difference is, in cash, above what it appraises at.
  
  I essentially responded back that he can piss up a rope.
• ernest_t_bass

  

  How does one essentially piss up a rope? Did he take you up on that offer?
• justincredible

  

  ernest_t_bass;1845822 wrote:How does one essentially piss up a rope? Did he take you up on that offer?

  I don't know.
  
  We looked at a house last night with a substitute realtor (ours is out of town, the house we were looking at wasn't for us) and he knew of a house a few streets down that was coming to the market soon. He said he'd pass on the info to our realtor so we could check it out when she got back in town. We decided to drive by before heading home and got a call as we were driving down the alley behind the house that we could get in to see it then. It's a little higher than our ideal price range, but it needs zero work (other than new paint inside). The selling realtor owns the house, her husband did all of the work on it and did a really nice job. It goes on the market tomorrow but I think we're going to put in an offer today.
• ernest_t_bass

  

  justincredible;1845940 wrote:I don't know.
  
  We looked at a house last night with a substitute realtor (ours is out of town, the house we were looking at wasn't for us) and he knew of a house a few streets down that was coming to the market soon. He said he'd pass on the info to our realtor so we could check it out when she got back in town. We decided to drive by before heading home and got a call as we were driving down the alley behind the house that we could get in to see it then. It's a little higher than our ideal price range, but it needs zero work (other than new paint inside). The selling realtor owns the house, her husband did all of the work on it and did a really nice job. It goes on the market tomorrow but I think we're going to put in an offer today.

  Will you be able to make any money on it at resale? Is it below market value or at market value?
• justincredible

  

  ernest_t_bass;1845971 wrote:Will you be able to make any money on it at resale? Is it below market value or at market value?

  Probably at market value now. But it gives us everything we want and we have to do zero work. The neighborhood is being revitalized as well, so the market has potential to go higher.
• Commander of Awesome

  

  justincredible;1845799 wrote:We've viewed a house that's been in the process of renovation a few times over the last few months. We saw it again last Saturday after the floors were finished, the last big thing to complete before listing. In the beginning of the process the seller said he expected he would list it around $125k. We find out that he's going to list at $135k on Friday. We were still okay with that price (my wife more so than I) so we were going to put in an offer. The seller responded back that he isn't accepting offers until it goes on the market.
  
  We hear back from our realtor today and he apparently wants to raise the price even higher, but is afraid that the house won't appraise that high due to zero comps in the neighborhood. This would be BY FAR the priciest house in the neighborhood at 2 bed, 1 bath. He said he would honor the $135k price for us if we were willing to waive the appraisal contingency and pay whatever the difference is, in cash, above what it appraises at.
  
  I essentially responded back that he can piss up a rope.

  New to house buying, what does this mean?
• ernest_t_bass

  

  justincredible;1845973 wrote:Probably at market value now. But it gives us everything we want and we have to do zero work. The neighborhood is being revitalized as well, so the market has potential to go higher.

  That's good. Our current home... we bought it when they had it gutted. We could've worked a deal to pay considerably less to buy it as is, or finished. I went with finished... I didn't have to lift a finger at any renovations, and it was perfect. Would do that same thing in a heartbeat.
• ernest_t_bass

  

  Commander of Awesome;1845979 wrote:New to house buying, what does this mean?

  Comps = comparable houses on the market and their value/what they sold for. (is that what you are asking?)
• Commander of Awesome

  

  ernest_t_bass;1845982 wrote:Comps = comparable houses on the market and their value/what they sold for. (is that what you are asking?)

  That helped, able to piece it together with this. Thanks.
• justincredible

  

  Never mind, I'm moving to Montana.
  
  http://www.sothebysrealty.com/eng/sales/detail/180-l-734-834gy2/625-longhorn-superior-mt-59872-superior-mt-59872
• ernest_t_bass

  

  Damn
• justincredible

  

  We put in an offer tonight and they accepted.
• ernest_t_bass

  

  On the Montana place? Congrats!
• justincredible

  

  ernest_t_bass;1846061 wrote:On the Montana place? Congrats!

  Yeah. It was a crazy low offer (2% of asking price), I can't believe they accepted.
• ernest_t_bass

  

  justincredible;1846064 wrote:Yeah. It was a crazy low offer (2% of asking price), I can't believe they accepted.

  Congrats!
• ernest_t_bass

  

  Really though, congrats. Especially on the peace of mind.
• justincredible

  

  justincredible;1844927 wrote:We are through inspection, and they came back with only a minimal request. They want $1,000 towards minor repairs and they want us to have the furnace and a/c serviced and provide a receipt before closing. Sold.

  Well, we had the furnace serviced today and they found a crack that needs repaired. There goes another $1,900 from our profits.
• ernest_t_bass

  

  justincredible;1847756 wrote:Well, we had the furnace serviced today and they found a crack that needs repaired. There goes another $1,900 from our profits.

  Damn, sorry to hear that.
• OSH

  

  Nothing new on my search/sale.
  
  MAYBE a showing today (Easter Sunday) since I'm in town with the house. The guy is a local real estate "mogul." Small town, and he can afford to do some things around here. He's willing to help out and sit on the house for awhile because he can, he's a lifer here. Pretty cool if he did that.
• justincredible

  

  I feel like the deal for the house we are buying is slowly crumbling. At this point I give us a 50% chance of actually closing on it. This process sucks.