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20782 : Real Estate Advice

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  • Home Buying2
  • Home Selling0
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Activity 3
Thu Jun 16, 2016
MCM_STL answered:
It's absolutely legal. You made an offer as did others. That's not a binding contract.

Since you posted this in "Investment Properties" and you planned to pay cash, I'm going out on a limb and assuming you're a flipper/rehabber.

I'd be willing to bet the winner loved the house as-is. They probably wrote a letter about it. Sometimes a seller would rather take less money and sell the house to someone who will love it than to let someone come in and destroy something they've cherished for decades. It's not always about who is throwing the most money at them.
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Sun Apr 21, 2013
Annette Lawrence answered:
west,
If you are a home buyer, as your question category suggests, the traditional real estate business model will have the seller paying the professional compenstation of both the agent for the buyer and the seller. There are situations where that DOES NOT APPLY. You do not provide sufficeint ifnormation to make such a determinination.
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If you are selling this a great question that many homeonwer struggle with.
The reality is, it wil not matter because this logic is fatally flawed.
This approach will result in NO SALE!
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The question suggests you are going to complete a market analysis to determine the market value of your home as it compares to other homes in the community and simailar homes that are currently for sale.
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On top of this value you will add the professional fees involved...But that's not all...
Next you will pad some negotation room onto the price. If only that were the end of it.....
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Then comes a little extra so you can pretend to lowerd the price in a vew weeks.
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Statistics in the MLS have repeatedly shown homes intially placed on the MLS are priced 30% above the price they will sell for. These homes are ignored by home buyers. When they age sufficiently, investors will percieve the frustration of the owner and will hang paper on the house. Of course, the homeonwer will want to blame the professional they hired for not selling their home. The reality is, real estate professional serve at the direction of those who hired them.
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I would imagine MD is having a strong real estate market at this time.
Have a chat with your real estate professional and discuss your goals.
Do you want to SELL your house?
Do you want to have your house 'for Sale?"
You need to stay focued on the outcome you want. The professional you hire will provide the guidlines to make your goals a reality. But you simly can not defy what the numbers are revealing is the reality of your real estate market.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420. 4041
http://RealEstateMadeEZ.us
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Tue Aug 25, 2009
Tammy Durbin answered:
Hello Bernhard,

When you are considering purchasing a property for a rental, you need to review the rental comparables and see what others are renting for. Also, what is the current inventory in that area. Would you break even after paying the mortgage and any other fees. There are several things to consider when purchasing an investment property. Feel free to call or email me anytime. I have handled several rental properties and have been a landlord myself for the last 10 years....and remember always check everyones references and credit before entering any rental agreements. ... more
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