Suggestions on a Realtor?

[03mustangdude]

Every real estate agent is an investor as well for some reason

[Baron Von Crowder]

In case anyone was wondering...

[bcoop]

The point.


You missed it.

I don't think anyone missed anything. You posted your poorly based opinion, and people countered it with several legit reasons as to why what you said was wrong. If a point was missed, it is because you failed to make it.

[GeorgeG.]

I'm pretty sure Greg is looking to buy.

oh yeah... I guess I had Doug's selling experience in my head as I was typing that.

[motoman]

Trey made the pre approval process very easy. I've been in touch with Amy and sent my pre approval letter over, so now we begin the buying game.

[Doug Hatton]

FWIW, here's my .02 regarding selling above list:

-The asking price of a house should be based on what it will appraise for and for an amount that a bank will fund.
-Due to lack of inventory, the competition is fierce. Buyers aren't accepting lowball offers or offers with lots of contingencies.
-People are offering over list to strengthen their position against other buyers.
-In the event that people are offering over list, you/they need to be aware that the house MAY NOT appraise at their offer value. If it doesn't, THEY need to come up with the additional cash.
-If their giant cash offer is contingent on appraisal, they may want to renegotiate after the appraisal comes in. This puts the seller in a compromised postion IMO since they've already gone down the path a ways with the buyer.
-When considering "above-asking" offers, you should be considering their cash position. If they're on a VA loan with 5% down or something, are they going to be able to pull out another $10k when it doesn't appraise as high as their offer?
-On my house, we selected an offer that was above asking, but not the highest offer. We selected the buyer that we thought had the best odds of rolling with the financial punches, and even went as far as to put a clause in the contract that committed the buyer to paying 100% of the delta between offer and appraisal up to a $10k difference. JUST IN CASE!

One other thing I'll add. In our case, the "best" offer was from an investor looking for rental properties. Although their story wasn't the most heart-warming (and trust me, we had a few with pics of their family, pets, stories, etc.!) it was the least financially risky and IMO, that's the name of the game.

[Broncojohnny]

It is a low inventory, high demand market around here right now. It can be hard to gauge exactly what people are willing to pay. With oil going where it is, this market is probably going to change soon enough.

[Z06killinsbf]

My father in law is a realtor for Ready realestate. Pm me if you want his info.

[dville_gt]

Sad that we can't mention Nate anymore RIP RealEstateNate

[Ruffdaddy]

The point.


You missed it.

Suuure...

[motoman]

I'll give Amy a call this week. Unfortunately my work schedule and traveling makes it difficult for me to get out and find these houses.




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[Chas_svo]

Not even close to true. There are a lot of reasons to ask for the actual value.

1) banks Will only lend for what it's worth in most cases and that's appraisal value. So if some one wants to pay more they will know they need to have that cash ready.

2) an overpriced house wont get looked at or will be last in the order.

3) alot of the offers over asking are done just to ensure the buyer has the winning bid.

The point.


You missed it.

[Ruffdaddy]

Guys, if you get an offer above asking, you should ask your realtor for his/her commission back. That's almost as bad as finding out that you could get $10-$20k more after the sale. There may be good realtors out there, but I've yet to meet one. Most are lazy, incompetent nitwits.

Not even close to true. There are a lot of reasons to ask for the actual value.

1) banks Will only lend for what it's worth in most cases and that's appraisal value. So if some one wants to pay more they will know they need to have that cash ready.

2) an overpriced house wont get looked at or will be last in the order.

3) alot of the offers over asking are done just to ensure the buyer has the winning bid.

[Mike]

My wife is a realtor with ReMax. I can forward you her contact info if you're still looking for someone with experience. Let me know. Good luck either way. It's still a sellers market so that'll work in your favor, similar to Doug's experience.

I'm pretty sure Greg is looking to buy.

[bcoop]

Guys, if you get an offer above asking, you should ask your realtor for his/her commission back. That's almost as bad as finding out that you could get $10-$20k more after the sale.

That isn't entirely true. Sure, some may make mistakes in doing their comps. But even when thorough comps are done, people are still willing to pay more than a house is worth to just be done with it. It's just the way the market is right now.