Yeah my buyer waived the inspection too. Didn't care when I disclosed that the irrigation system wasn't working properly or that two electrical outlets were inoperable. Hope the deal goes through.
My house went on the market today...
- Thread starter VegasMichael
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I think far too many people did this. Normal Americans are way too stupid to not spend every freaking cent they have. We shall see.
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You're happy and the buyer is as well. That pretty much defines a good and successful deal. Hope final payment goes smoothly.
Congrats on the sale and good luck in the future.
Congrats on the sale and good luck in the future.
We just sold/ closed on our rental house last month. First day got an offer for 15k over and the realtor said to expect more and higher offers. I wasn’t greedy and accepted it and no other offers came in. I feel I did ok, sounds like you did too
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something about a bird in the hand
That's exactly what's happening. It's destroying American's ability to accumulate wealth and will unfortunately bring down the American economy. The next few decades are going to get hairy
Bullshit. American dream is beating everyone else.
Just keep doing better.
**** bitches. Get money. Or whatever.
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Just keep doing better.
**** bitches. Get money. Or whatever.
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A hand in the bush is worth two birds in hand.
OP could’ve waited for more offers, and the original offer could have disappeared and never been matched. Or he could have made more. Never going to know now.
We sold our first home back in ‘16 before things went apeshit. Had an over asking offer within 48 hours, so I’m familiar with the “maybe we should have listed higher or waited” game.
exactly. The offer met at least what he wanted, being a corporate purchase with no inspection seems like a pretty sure thing to go through and hopefully pretty quickly.
A friend down here has had 2 sales not go through for various reasons on the buyers' part but it kinda worked out, they kept a couple grand in earnest money and the house is now listing 20k higher
I've sold two flip properties in the last couple years. The market is stupid and after selling my first property for a good profit I pushed the limits on the second one. Just sold flip #2 at $5k over asking, no inspection. Doesn't seem like a lot but we were asking a record high in the area by over $10k. We had 60 showings in the matter of 5 days. Had an offer in 48hrs on the market. Property sold for $190k and was in a rougher part of town. I jumped on that especially with the interest rates going up.
Here is an even crazier number. I'm good friends with some large scale farmers in the area. Some of the local home builders are buying farm land to build new housing additions at over $30k an acre.
Here is an even crazier number. I'm good friends with some large scale farmers in the area. Some of the local home builders are buying farm land to build new housing additions at over $30k an acre.
We got $255,000 over asking last year. Multiple bid war.
you did great, Michael.
Our house we purchased for asking price the 1st day it was listed. Sure they could have 'waited for more potential offers' - but if you get what you want, greed can be a poison, you know?
If I put ours up now, and I ask $400k, if someone offers me $400-425k I'm gonna take it, not go 'well Imma wait for 500k to come through' - can be an expensive mindset ya know?
Yep. Can’t count how many times I’ve watch 50-75% stock market gains melt into nothing because of greed. Talking about 75k missed profit in the last yr and a half.
“It’s gotta go higher!”
Watching the markets I’m familiar with (recently sold in) for pricing and time on market. You can absolutely see inventory going up.
Unit next to mine is still listed at 125k more than I took for mine. Granted his unit is nicer with easily a 30-40k remodel that was done. Looks like a good 15k in new furniture as well. Same sq ft but a 3bd instead of 2bd.
Been on the market 181 days…..now we have increasing rates and growing inventory. He better make a serious adjustment or he is gonna miss the tidal wave in my opinion.
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“It’s gotta go higher!”
Watching the markets I’m familiar with (recently sold in) for pricing and time on market. You can absolutely see inventory going up.
Unit next to mine is still listed at 125k more than I took for mine. Granted his unit is nicer with easily a 30-40k remodel that was done. Looks like a good 15k in new furniture as well. Same sq ft but a 3bd instead of 2bd.
Been on the market 181 days…..now we have increasing rates and growing inventory. He better make a serious adjustment or he is gonna miss the tidal wave in my opinion.
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Going to start seeing a lot of this.
I just came back from Puerto Penasco. Things have bumped up a bit there but still a good buy in my opinion. Little less competition with most buyers only accepting cash.
Looking at buying a place there. We get ripped off so bad here it’s unbelievable. Tax man is the ring leader of the scam….
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Like a few of you, im looking to sell high. A family friend has a home for rent. Im really thinking about it, i just dont know when the bubble will burst. Ofcourse renting leads to sacrifice but it could be worth it in the long run!
This deal might not go through. My Buyer, a large corporation, wants a price reduction of 25k because they said had to fix or replace:
Landscaping
Replace carpet
2 Complete heat pump replacement
Gas water heater
Blinds
Appliances
Nothing is wrong with ANY of those things except the carpet. They can cancel the deal if I said no. Guess what? I just said NO. Kiss my ass. Question: If they cancel I get the earnest money right? Remind me not to buy another house. Stocks and bonds are so much easier to transact.
Landscaping
Replace carpet
2 Complete heat pump replacement
Gas water heater
Blinds
Appliances
Nothing is wrong with ANY of those things except the carpet. They can cancel the deal if I said no. Guess what? I just said NO. Kiss my ass. Question: If they cancel I get the earnest money right? Remind me not to buy another house. Stocks and bonds are so much easier to transact.
Dang…app crashed and lost my reply
I always leave my properties listed and will show them even under contract due to stuff like this.
I’d be adamant that you want the earnest money. They are essentially in breach of contract since this was “as is”. Basically, they tried to swoop in, get a contract before a bidding war, and now are trying to renegotiate.
Seller really only loses earnest money if they cancel or the property was blatantly misrepresented.
I believe the buyer misrepresented their intentions to their benefit. I suspect they do this all the time.
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I always leave my properties listed and will show them even under contract due to stuff like this.
I’d be adamant that you want the earnest money. They are essentially in breach of contract since this was “as is”. Basically, they tried to swoop in, get a contract before a bidding war, and now are trying to renegotiate.
Seller really only loses earnest money if they cancel or the property was blatantly misrepresented.
I believe the buyer misrepresented their intentions to their benefit. I suspect they do this all the time.
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They will get their earnest money back assuming they have an inspection clause in the contract.
If they forgot to check that box then they can just not show up to closing, however since their agent even asked for the reduction it makes me think they have the clause and you didn’t catch it.
Pull out your signed contract and read through the inspection period, around here we had 7-10 days to inspect and request repairs, unless specifically requested longer. Anything longer and the buyer lost the right to ask for repairs. Since it’s been more than 10 days make sure the contract even allows to to still ask. If they are over the time limit you might get to keep the earnest money if they don’t show up to closing.
If they forgot to check that box then they can just not show up to closing, however since their agent even asked for the reduction it makes me think they have the clause and you didn’t catch it.
Pull out your signed contract and read through the inspection period, around here we had 7-10 days to inspect and request repairs, unless specifically requested longer. Anything longer and the buyer lost the right to ask for repairs. Since it’s been more than 10 days make sure the contract even allows to to still ask. If they are over the time limit you might get to keep the earnest money if they don’t show up to closing.
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Yes, there is a purchase addendum stating they get their earnest money back.
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