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What am I in for when I sell my house
Posted on 3/31/23 at 7:26 am
Posted on 3/31/23 at 7:26 am
We know what town we’re going to and I’m walking away with ~175k, looking to pay cash for a fixer upper. It’s very doable for the town we’re moving to.
1. What can happen during the transaction that could cost me money and how do I head it off? I know the basics, but what are the unknowns?
2. I envision the moving process as hiring movers and me physically moving very little. We aren’t going far so they can’t steal or break all my shite.
3. General information that I need to know? First time home seller.
1. What can happen during the transaction that could cost me money and how do I head it off? I know the basics, but what are the unknowns?
2. I envision the moving process as hiring movers and me physically moving very little. We aren’t going far so they can’t steal or break all my shite.
3. General information that I need to know? First time home seller.
22
Posted on 3/31/23 at 7:32 am to Gee Grenouille
Prepare thy anus
Jk, remember there are two rounds of negotiation: Initial offer, and then after the buyer's inspections. The buyers can try to hit you with $10K in repairs after you're a week into the contract. Make it clear the inspections are for their knowledge and to search for major defects. They are not for you to repair the home to perfect condition.
Edit: Also recommend getting your HVAC tuned up before a home inspection. It always tends to get picked on for needing repair/replacement.
Jk, remember there are two rounds of negotiation: Initial offer, and then after the buyer's inspections. The buyers can try to hit you with $10K in repairs after you're a week into the contract. Make it clear the inspections are for their knowledge and to search for major defects. They are not for you to repair the home to perfect condition.
Edit: Also recommend getting your HVAC tuned up before a home inspection. It always tends to get picked on for needing repair/replacement.
This post was edited on 3/31/23 at 7:35 am
Posted on 3/31/23 at 7:35 am to Gee Grenouille
Expect the realtor and prospective buyer to nit pick and expect you to pay to fix everything they can find…it is a part of the bargaining process. You might want to provide a home insurance policy covering appliances for 6 months or so to head off some of that shite.
This post was edited on 3/31/23 at 6:33 pm
Posted on 3/31/23 at 7:36 am to Ben Hur
Why not do some repairs or potential red flags before you put the property on the market.
Ex have the hvac cleaned and serviced if necessary, change the filter, caulk in areas if necessary, check to see all diverter values work in the tubs if applicable, check all faucets or fixtures for leaks or drips
Ex have the hvac cleaned and serviced if necessary, change the filter, caulk in areas if necessary, check to see all diverter values work in the tubs if applicable, check all faucets or fixtures for leaks or drips
Posted on 3/31/23 at 7:38 am to Gee Grenouille
Request pre-approve loan letter from the bank from potential buyer.
Posted on 3/31/23 at 7:42 am to Gee Grenouille
quote:
I’m walking away with ~175k
Don't count your eggs before they hatch. In this market you could be walking away with significantly less than that.
Posted on 3/31/23 at 7:44 am to Gee Grenouille
How old is your house? Roof?
Posted on 3/31/23 at 7:45 am to Gee Grenouille
quote:
d I’m walking away with ~175k
That closing disclosure with expenses extended will crush your dreams.
Posted on 3/31/23 at 7:46 am to Gee Grenouille
When you first list it tell your realtor to list it as is and that you're not fixing shite. I do this all of the time.
Posted on 3/31/23 at 7:47 am to Gee Grenouille
If the inventory is low in your area - consider having a few days where prospective buyers can bring a home inspector with them ahead of time and make an offer based on that inspection.
If a buyer has approved financing and is making an offer with the inspection already done - the sale should be a breeze.
That is what I did when I bought my last house and the seller took my offer even though it was the lowest of the 4 offers they received.
(I was downsizing from a much larger home)
My offer was cash and no other inspections and close when you want to. The seller chose to close in less than 2 weeks.
Also, the guy who bought my house brought his inspector and made a similar offer (not cash but pre-approved $$)
The issue with selling is always the inspection.
If a buyer has approved financing and is making an offer with the inspection already done - the sale should be a breeze.
That is what I did when I bought my last house and the seller took my offer even though it was the lowest of the 4 offers they received.
(I was downsizing from a much larger home)
My offer was cash and no other inspections and close when you want to. The seller chose to close in less than 2 weeks.
Also, the guy who bought my house brought his inspector and made a similar offer (not cash but pre-approved $$)
The issue with selling is always the inspection.
Posted on 3/31/23 at 7:51 am to SECdragonmaster
quote:
The issue with selling is always the inspection.
Is it a good idea to hire your own inspector as the seller to find out what is wrong up front?
Posted on 3/31/23 at 7:52 am to mmcgrath
Fixer upper market has been road hard.
Be very cautious in what you do find if it’s been on market for any length of time.
Be very cautious in what you do find if it’s been on market for any length of time.
Posted on 3/31/23 at 7:52 am to Gee Grenouille
quote:
We aren’t going far so they can’t steal or break all my shite.
Posted on 3/31/23 at 8:03 am to Gee Grenouille
Do an inspection now. Fix all of the big items before going to market don’t give the future buyers any leverage in their inspection period.
Hire a good Realtor. What city are you in?
Hire a good Realtor. What city are you in?
Posted on 3/31/23 at 8:19 am to Gee Grenouille
quote:
2. I envision the moving process as hiring movers and me physically moving very little. We aren’t going far so they can’t steal or break all my shite.
I moved across country. Depends how much crap you have, But I just rented the biggest Penske truck they have and drove it ourselves, hired movers only to load the truck and used Family to help unload it… can save a lot of money that way
This post was edited on 3/31/23 at 8:20 am
Posted on 3/31/23 at 8:22 am to Gee Grenouille
quote:
1. What can happen during the transaction that could cost me money and how do I head it off? I know the basics, but what are the unknowns?
bro, do you even settlement paper?
quote:
I envision the moving process as hiring movers and me physically moving very little. We aren’t going far so they can’t steal or break all my shite.
doesn't matter if you're moving across the country or across the street, hire the right movers, they can frick up a lot of stuff
Posted on 3/31/23 at 8:29 am to RealDawg
quote:
has been road hard
Posted on 3/31/23 at 8:38 am to Gorilla Ball
quote:
Ex have the hvac cleaned and serviced if necessary, change the filter, caulk in areas if necessary, check to see all diverter values work in the tubs if applicable, check all faucets or fixtures for leaks or drips
This is exactly what we did. Our buyer's inspector found 10-15 things, but they buyer only asked for 3-4 things to be fixed.
I also kid you not, but they liked our entertainment center so much that asked for it in the offer in exchange for the value against fixing stuff.
Posted on 3/31/23 at 8:55 am to Gee Grenouille
Leaving Bogalusa? Kudos.
Posted on 3/31/23 at 8:55 am to Gee Grenouille
I-pack they drop off a trailer and move when you are ready.
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