Home Selling in Bellflower>Question Details

Juan, Both Buyer and Seller in Bellflower, CA

I just talked to a realtor who said that If I list my house it should be listed at $315K, that is a lot less

Asked by Juan, Bellflower, CA Tue Aug 19, 2008

than just few weeks ago, she also told me that the buyer are asking for more (things?). I should had asked her what she mean but I guess she was talking about more than just help with closing cost.
My question is what are the buyer asking for now?
I need to have an idea of how much will be left for me after the house is sold (if it gets sold).
My house is in Bellflower and the address is 13109 Vultee Ave.
Thank you in advance.

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Hello Juan. I took a look at the comparables and I think your home might sell at about $330-350K, this is without seeing it and assuming everything is in decent shape. Of course you are most likely going to have to credit the closing which would be about 3% of the purchase price. Now as far as asking for more things, well it depends on the condition of the home and the inspection, but you aren't going to have to do it. When buyers ask for credits its all negotiations and you have to make sure you have an agent that is going to negotiate well for you. I have an office in Bellflower, e-mail me and maybe I can help you in selling your home, dyannaavila@hotmail.com.

Good Luck!!
Dyanna Avila
1 vote Thank Flag Link Tue Aug 19, 2008
Buyers are asking for help with closing costs (usually 3% of teh selling price) along with items that need to be repaired. They do this by either asking for your to do the repairs or money so they can do the repairs such as replace carpets, heating system, fix broken windows or siding, leaking pipes etc. They are also asking for you to include things in addition to the normal appliances. washer, dryer, lawn mower, tractor, hot tub, tools, entertainment center (i had this one recently) or blinds/curtains.
Web Reference: http://www.ScottSellsNH.com
1 vote Thank Flag Link Tue Aug 19, 2008
There is one other reason why your realtor wants to go less...REO's have arrived recently in your market area. You must compete with them. The beauty of this is that banks purposely low ball their own listings to get a frenzy of offers which come out in the end to 105-110% of list price and that is where you get your victory. Remeber it is just a figure subject to negotiation.
0 votes Thank Flag Link Sat Oct 3, 2009
Thank you Dyanna,
I knew that, I was answering to Dorene which mention the 15K and then 3%.
The last time my house was listed I actually had a person who asked for 15K even though my house was listed for less than 500K, he also gave me a low ball offer and that's why I didn't take it.

Of course now I fell sorry I didn't take it because it was alot more than 315K.
0 votes Thank Flag Link Fri Aug 22, 2008
Juan 3% of $315k is $9450.
0 votes Thank Flag Link Fri Aug 22, 2008
Thank you for your answers.
I am thinking on selling my house so I can move up. But since part of my equity will be used for down payment (100K) and another to pay some debt (60K), I think that I won't be able to do that if I have to give $15K to the buyers for their closing cost.
I am thinking now that maybe it will be better to re-finance and rent the house. Any comments? please.
There are pictures of my house on zillow.com

Thank you again,

Juan
0 votes Thank Flag Link Fri Aug 22, 2008
work quite a bit with buyers and it's true that buyers might need help with closing costs. For some FHA loans, closing costs can be as high as 15,000! That's not easy for a first time home buyer to come up with.
It's not uncommon for buyers to ask for 3% of closing costs to be covered. The buyers I have worked with recently do not want to be burdened with many repairs or cosmetic work. If you can paint, clean carpets, spruce up the landscaping &replace appliances,that will go a long way is making a sale happen.
0 votes Thank Flag Link Thu Aug 21, 2008
Juan
I have this question a lot and would like to offer you some advice:
1. The market is shifting and most sellers, buyers, and Realtors are having a tough time figuring out exactly what you just asked. How much is a home worth? What will it take for me to buy/sell my home?

2. I do not interfere with agency relationships (meaning if you have a signed listing agreement, then disregard this part of the post). You should interview three Realtors and ask them all the same questions, then you evaluate the best Realtor for your situation. I would be happy to refer you to one of the top agents in Bellflower if you need help finding a great Realtor. You can contact me via my Trulia profile, or you can call me at 1-888-284-2056.

3. Strategy - your profile says that you need help buying and selling. I strongly urge you to discuss your plans, both the sale and purchase, with the Realtors and get their opinion of the potential issues in your move. A good Realtor analyzes the entire situation and proposes a plan to help you not only minimize your costs in the move, but also the stress and legal entanglements.

For example, if you are moving out of area, and the prices where you are moving are going UP, then what would it cost you if it took you longer to sell (trying to get a higher price when you sell)?
OTOH, if you are staying in the area, and are trading up, what does the market for more expensive homes look like? What if you are downsizing? Again, you need a Realtor that will look at the big picture, and then provide you with options that meet your needs.

Good luck. I'd be happy to help.
Keith
0 votes Thank Flag Link Wed Aug 20, 2008
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Juan !!!!

I am the broker/owner and a state licensed appraiser and can assist you properly in marketing and assessing what your homne is really worth. I checked the value and the number I see is much lower than it should be. Call me or email me and I can provide the data to show you. Include your email also.....

David Krecker, BSBA, SRA, MRA
Centuryside Real Estate Inc.
David Krecker
Broker/Owner/State License Appraiser
Office 562-690-6987
Fax: 562-690-7337

Email: dave@centuryside.com
Website: http://www.centuryside.com
Web Reference: http://www.centuryside.com
0 votes Thank Flag Link Tue Aug 19, 2008
Fee free to call me this morning Juan and I can give you some detailed answers and run a CMA report and E-mail it to you.

Peter Solomon
WG & Associates
Long Beach, Ca
562-420-1307
http://www.soldbypeter.com
0 votes Thank Flag Link Tue Aug 19, 2008
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