TheHaitian
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Post by TheHaitian on Jun 29, 2016 14:35:05 GMT -5
This realtor sounds as useless as our first one. She was such a colossal dumbass. She reminds me of chiver78 first realtor with her townhouse barely does shit and expect to get paid quickly!
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chiver78
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Post by chiver78 on Jun 29, 2016 14:41:03 GMT -5
This realtor sounds as useless as our first one. She was such a colossal dumbass. She reminds me of chiver78 first realtor with her townhouse barely does shit and expect to get paid quickly! first, and second, and third. although the first one never actually got a listing into MLS b/c she didn't think it was worth enough for me to not have to bring about $40k to the table. if anyone is looking in MA, definitely hit me up. I will give you the names of all three, including the relative by marriage that was realtor #2. stay away from ALL of them. ETA: if you end up looking on the Cape, also hit me up. I would recommend my most recent agent in a heartbeat!
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Works4me
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Post by Works4me on Jun 29, 2016 15:54:05 GMT -5
Maybe counter at $347,500 as best and final? Wait as long as you can to submit and go for 60 day escrow. Also, I'd gently ask what she means by she "worked" to get them to come up to $345,000 and I'd also ask what happened to the bidding war. But then again, I tend to,ask the questions others don't - occupational hazard maybe.
Good look Haitian and Mrs Haitian and MIL - will she be moving with you too?
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debthaven
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Post by debthaven on Jun 29, 2016 17:17:03 GMT -5
The Haitian, I didn't want to post this earlier but now that this has happened, I have to say your realtor sounds like a joke. If you look at the areas where bidding wars happen, they happen even when the place is listed at market price.
Of course I don't know your market, but from reading your posts, I think you got screwed on your listing price, because your realtor wanted a quick sale. And unless a bidding war happens, most buyers want to "negotiate" (ie lower the price). Sounds like that's what's happening to you.
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emma1420
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Post by emma1420 on Jun 29, 2016 17:19:12 GMT -5
At work so did not answer, agent left voicemail. They countered at 345k, closing in 45 days. She said she worked really hard to get them to come up to 345k and she feels it is a strong offer! Really you worked hard? The house has been on the market less than a week! The more she speaks the more she pisses me off! Anyway, texted my wife and she thinks we should just accept it! Ask the real estate agent to show you the comps that justify this value. Is that true FMV, or just a quick sale? She should be able to explain to you how fast houses sell in your area and at what price. Is your house an outlier.I'm not a real estate agent, which you know. I'd just want to know what the agent has done to market the house. Do they do caravans up there? This is like an Open Houses for agents. They tour all the properties new to MLS so they can direct their clients. I read somewhere that regular Open Houses are more for your real estate agent than for you. He/she meets potential clients that way. Good luck! I wonder what she means that "she" worked really hard to get them to come up to 345k. Do seller's agents counter or something without telling you? This. Given that this agent told you that putting it on at the price you did would lead to multiple offers, I'd be asking her to provide the comps that justify a price of 345k. I'd also be pointedly asking her where she went wrong with the pricing. I had to have a come to Jesus talk with my realtor. And I ended up having her sending me a detailed report each week of what she was doing to market my home, because in a sellers market its too easy for realtors to slap a house up on the MLS and for the realtor to do nothing afterwards. And honestly if you were going to get multiple offers it would have happened after the open houses.
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Value Buy
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Post by Value Buy on Jun 29, 2016 17:32:02 GMT -5
At work so did not answer, agent left voicemail. They countered at 345k, closing in 45 days. She said she worked really hard to get them to come up to 345k and she feels it is a strong offer! Really you worked hard? The house has been on the market less than a week! The more she speaks the more she pisses me off! Anyway, texted my wife and she thinks we should just accept it! Ok, your choices now are tell your agent you will not counter or accept the offer................... Or, counter at $365,000 and tell your agent this is the new acceptable sale price you will accept since you would see a bidding war. If she assured you a bidding war, she should understand this is an acceptable counter offer. Tell her full price offers are now not to be even bothered sent to you
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Value Buy
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Post by Value Buy on Jun 29, 2016 17:34:18 GMT -5
Go on trulia or zillow, and it is not uncommon to see asking prices of homes being raised above their original asking price, especially in hot seasonal times. June should be a hot time in your area. The new $365,000 price makes a $359,000 offer palatable
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debthaven
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Post by debthaven on Jun 29, 2016 17:44:46 GMT -5
How long do you have to stay with this agent? If it's feasible for you, I'd let her contract play out, and then get another one.
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Works4me
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Post by Works4me on Jun 29, 2016 18:35:16 GMT -5
How long do you have to stay with this agent? If it's feasible for you, I'd let her contract play out, and then get another one. I'd explore what the grounds are for terminating the listing contract. Also, can you speak with the managing broker from her office? It seems to me she told you a bunch of BS. Frankly, I'd also really resent anyone that tried to play my spouse and I against each other. As in, I'd have a real problem moving forward.
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chiver78
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Post by chiver78 on Jun 29, 2016 19:57:58 GMT -5
How long do you have to stay with this agent? If it's feasible for you, I'd let her contract play out, and then get another one. I'd explore what the grounds are for terminating the listing contract. Also, can you speak with the managing broker from her office? It seems to me she told you a bunch of BS. Frankly, I'd also really resent anyone that tried to play my spouse and I against each other. As in, I'd have a real problem moving forward. ^this. drop a dime and call that lawyer I put you in touch with. she had a breach of contract letter ready to go for the agent that eventually sold my townhouse. it was going out in the mail the day the cash offer came through. go figure.
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TheHaitian
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Post by TheHaitian on Jun 30, 2016 9:45:56 GMT -5
My wife slept on it and decided she wanted to sell vs waiting to get more; she want it over with so we can get our house in DC, she can get settled and start prepping for the baby.
So we accepted the offer this morning, 345k, 45 days closing, inspection for informations only (as in don't come back trying to lower the price after inspection) or "as is".
Hopefully it will be a smooth move between 1 house and into the next.
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snapdragon
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Post by snapdragon on Jun 30, 2016 9:58:35 GMT -5
Good Luck with everything TheHaitian. Maybe hopefully you can find a magical unicorn of a house that is sound and in your financial sweetspot in your new area.
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emma1420
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Post by emma1420 on Jun 30, 2016 10:21:25 GMT -5
My wife slept on it and decided she wanted to sell vs waiting to get more; she want it over with so we can get our house in DC, she can get settled and start prepping for the baby. So we accepted the offer this morning, 345k, 45 days closing, inspection for informations only (as in don't come back trying to lower the price after inspection) or "as is". Hopefully it will be a smooth move between 1 house and into the next. Congrats. And as your house is only a few years old, there shouldn't be much on an inspection anyway. The house I bought was only 20 years old, and the biggest issue was radon and evidence of termites. Everything else was small stuff and/or maintenance related.
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busymom
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Post by busymom on Jun 30, 2016 12:47:02 GMT -5
Best wishes TheHaitian! Both with the sale, & finding your new home.
When DD had her internship in the DC area, just for fun I looked at housing prices. Everything is crazy-expensive if you need to live close to the hub area.
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Works4me
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Post by Works4me on Jun 30, 2016 16:23:11 GMT -5
Congratulations and good luck! May your move only take you all onward and upward.
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Post by Deleted on Jun 30, 2016 18:18:21 GMT -5
Congrats carl & mrs. carl....selling quickly has to be a great relief off your minds so that's huge! With all the other new stuff happening in your lives, I wish you guys the best luck finding your new home in your new area with your new job!!! (sheesh, could there be any additional 'new' things happenin' for you guys,?! Haha..) ...good luck house hunting, and with the new job!
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TheHaitian
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Post by TheHaitian on Jun 30, 2016 18:52:46 GMT -5
With all the other new stuff happening in your lives, I wish you guys the best luck finding your new home in your new area with your new job!!! (sheesh, could there be any additional 'new' things happenin' for you guys,?! Haha..) The best new thing of all.... A BABY!!!
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Deleted
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Post by Deleted on Jun 30, 2016 18:58:40 GMT -5
Sorry, had to make some chocolate puddin'...wait.....could you repeat that? I'm barely able to be on the boards (we're getting ready to sell and have already moved....so goin' back an forth, scheduling painters/handymen/etc...the list is neverending... IS MRS. C PREGNANT
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Bonny
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Post by Bonny on Jun 30, 2016 19:10:54 GMT -5
Buyer released inspection contingencies but hasn't released the financing one. My agent heard from a second mortgage broker that he will.
This is an odd situation whereby he has actually applied for two loans (and paying for two appraisals). The first loan has given him approval with three conditions. Supposedly two were no brainers but there's a third condition regarding the Fiancée. Sounds like they need to find some kind of document but agent isn't sure.
Agent is having a "Notice to Perform" form prepared. It will be sent tomorrow if we don't hear from him in writing. Because of the weekend and holiday, he will have until 11:59pm Tuesday, July 5th to remove the contingency or the deal gets kicked out.
We think he's going to perform. It's a matter of dotting the "I"s and crossing the "T"s.
In the meantime, we have contacted our CPA because California has a mandatory hold back for taxes and we have to fill out a form estimating our gain before we can get our proceeds. I didn't think we were going to have a capital gain but due to depreciation our basis has been reduced about $100k. Our capital gain is likely to be in the $80k-$90k range. We still won't have to pay that much in taxes because our income is so low this year. We're only expecting about $33k in dividend and royalty income. The oil company that was paying us $40k/yr in 2012 filed BK earlier this month. We've earned about $1500 in the last six months.
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Post by Deleted on Jun 30, 2016 19:54:50 GMT -5
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Bonny
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Post by Bonny on Jul 1, 2016 16:44:46 GMT -5
Buyer lifted financing contingency last night.
Short of one of them dying I think the house is sold. COE is July 13th.
Still waiting to hear back from our CPA but it looks like we will net around $400k. We'll spend another $80k on our home and invest the rest.
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Works4me
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Post by Works4me on Jul 1, 2016 16:47:46 GMT -5
Buyer lifted financing contingency last night.
Short of one of them dying I think the house is sold. COE is July 13th.
Still waiting to hear back from our CPA but it looks like we will net around $400k. We'll spend another $80k on our home and invest the rest. Great! Anything fun in the home projects?
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Bonny
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Post by Bonny on Jul 2, 2016 9:27:25 GMT -5
Buyer lifted financing contingency last night.
Short of one of them dying I think the house is sold. COE is July 13th.
Still waiting to hear back from our CPA but it looks like we will net around $400k. We'll spend another $80k on our home and invest the rest. Great! Anything fun in the home projects? We want to do some configuring of our downstairs. We want to make the place nicer as DH's "man-cave" but also keep the floor plan flexible for a future buyer who might want to use it as another bedroom or MIL unit. DH wants to widen the laundry room and put in a shower by expanding into the over sized garage and re-pour the garage floor. It's pretty beat up because we think there are voids in the ground underneath. Ours is a "cut and fill" lot and the "fill" part of the lot settled quite a bit several years ago (as in probably 40+ years ago). We knew about the settlement when we bought the house 20+ years ago. We retained the services of a Geotechnical Engineer. There is a 4" difference between the far corner of the kitchen to the back bedroom. We believe the problem was corrected by the seller before us and we did more work by adding French drains around the house. During the 20 years of our ownership there's been no evidence of further settling. But if we're going to reconfigure the downstairs anyway, that's the time to clean up all that cracked garage concrete.
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debthaven
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Post by debthaven on Jul 3, 2016 16:25:06 GMT -5
Hope you're not too sad Bonny ... on the bright side, it's one less place to worry about, and a nice sum. I think you did the right thing by selling the house rather than the condo. Is the AZ house next?
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Jaguar
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Post by Jaguar on Jul 3, 2016 22:56:19 GMT -5
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seriousthistime
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Post by seriousthistime on Jul 4, 2016 7:01:20 GMT -5
That's a lovely house, Sugi! I hope it sells quickly for them.
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Bonny
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Post by Bonny on Jul 4, 2016 8:50:36 GMT -5
Hope you're not too sad Bonny ... on the bright side, it's one less place to worry about, and a nice sum. I think you did the right thing by selling the house rather than the condo. Is the AZ house next? It's much easier to let go when you're 500 mi away enjoying a beautiful day on my "new" patio with it's ocean view sipping a glass of Rose and looking at what needs to be done around here.
We're kicking the can down the road a bit on the AZ house-La Jolla Condo duo. We know we can't live here forever due to the stairs but also not sure that we want to split time between the AZ "retirement" house and a beach condo 350 miles away when we're in our 70s. There's always work-arounds but for now we're staying focused on cleaning up around here and preparing for my big hike in September.
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debthaven
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Post by debthaven on Jul 4, 2016 17:01:29 GMT -5
I think you should keep La Jolla. You've got a while yet till you're in your 70s!
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justme
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Post by justme on Jul 4, 2016 19:59:39 GMT -5
Great location...like an hour south of where I'm vacationing!
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Works4me
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Post by Works4me on Jul 5, 2016 16:01:39 GMT -5
Great! Anything fun in the home projects? We want to do some configuring of our downstairs. We want to make the place nicer as DH's "man-cave" but also keep the floor plan flexible for a future buyer who might want to use it as another bedroom or MIL unit. DH wants to widen the laundry room and put in a shower by expanding into the over sized garage and re-pour the garage floor. It's pretty beat up because we think there are voids in the ground underneath. Ours is a "cut and fill" lot and the "fill" part of the lot settled quite a bit several years ago (as in probably 40+ years ago). We knew about the settlement when we bought the house 20+ years ago. We retained the services of a Geotechnical Engineer. There is a 4" difference between the far corner of the kitchen to the back bedroom. We believe the problem was corrected by the seller before us and we did more work by adding French drains around the house. During the 20 years of our ownership there's been no evidence of further settling. But if we're going to reconfigure the downstairs anyway, that's the time to clean up all that cracked garage concrete. It sounds like worthwhile work that should be done and I guess your DH deserves a nice Man Cave, but I was hoping for something fun and spectacular for you.
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