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Real estate gurus
Posted on 10/11/14 at 8:12 pm
Posted on 10/11/14 at 8:12 pm
If you were to put in a offer on a house that you wanted to buy and you were fairly certain that other offers will be placed on the house - how much higher than asking price would your offer be? $25k, 40k, 60k?
Maybe it is better to talk about % of asking price - 2%, 5% 10%
Maybe it is better to talk about % of asking price - 2%, 5% 10%
This post was edited on 10/11/14 at 8:14 pm
7
Posted on 10/11/14 at 8:18 pm to RollTheRock
quote:
how much higher than asking price would your offer be?
I wouldn't. I would wait and either find a better deal or wait and ride this bubble out.
Ask the people in FL, Vegas, Cali, etc that paid more than asking prices during the last bubble how that worked out for them.
Posted on 10/11/14 at 8:19 pm to RollTheRock
quote:fricking casty. Say it out loud. It don't sound right....
put in a offer
Posted on 10/11/14 at 8:35 pm to RollTheRock
The most important question is how long do you plan on staying there?
Posted on 10/11/14 at 10:23 pm to RollTheRock
Don't pay over asking. You will lose money
Posted on 10/11/14 at 11:32 pm to RollTheRock
We just moved from our "forever house". When we built it 13 years ago, if you would have told me we would sell it, I would have called you crazy.
But what seemed like the perfect house with a baby and a three year old, was way too much house once the kids were older and never around and once I got older and tireder and hated fricking cleaning a bunch of rooms we never used.
We went from a 5,000 sq. ft. new house in a mcmansion type neighborhood to 3,500 sq. ft. 100+ year old house in our historic district downtown and I could not be happier but 13 years ago, I never would have thought we would do that.
Never plan on "certainties" for the basis of a huge investment. Life has a way of changing things up.
But what seemed like the perfect house with a baby and a three year old, was way too much house once the kids were older and never around and once I got older and tireder and hated fricking cleaning a bunch of rooms we never used.
We went from a 5,000 sq. ft. new house in a mcmansion type neighborhood to 3,500 sq. ft. 100+ year old house in our historic district downtown and I could not be happier but 13 years ago, I never would have thought we would do that.
Never plan on "certainties" for the basis of a huge investment. Life has a way of changing things up.
Posted on 10/12/14 at 9:51 am to RollTheRock
quote:
How much higher than asking price would your offer
It depends on a lot of things...
Where's it located and what's the asking price? Typically, a full price offer with a clean contract without a bunch of demands with a very quick closing date (7 days) and all cash should get the deal done. No appraisal contingency too.
Posted on 10/12/14 at 11:01 am to RollTheRock
Slightly off topic but with interest rates so low why not finance more than 10%? The money you gain off of investing will be better than the interest rate. Additionally that money that you gain will offset the higher than asking purchase price.
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