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Started By
Message
re: Buying Real Estate from a Friend Sucks
Posted on 9/21/18 at 12:12 pm to PurpleandGold Motown
Posted on 9/21/18 at 12:12 pm to PurpleandGold Motown
Is this condo on montreat?
1
Posted on 9/21/18 at 12:34 pm to PurpleandGold Motown
If your offer is the most you're willing to pay, then tell her that. If you're willing to go higher but not her price, tell her you final number.
Either way, tell her no hard feelings if y'all cant agree. First mistake was making an offer, should have asked what she would be willing to sell for.
Either way, tell her no hard feelings if y'all cant agree. First mistake was making an offer, should have asked what she would be willing to sell for.
Posted on 9/21/18 at 12:39 pm to 0
quote:
Is this condo on montreat?
Why yes it is.
Posted on 9/21/18 at 12:39 pm to PurpleandGold Motown
Are you a man? Only gays have female friends.
Posted on 9/21/18 at 12:44 pm to PurpleandGold Motown
She'll regret not unloading this the easy way.
If you move out, she'll have to line up a real estate agent, fix up the place, negotiate the price, continue paying taxes, utilities,etc all from out of state.
Do acknowledge that the recent comps include the real estate agent commission too.
If you move out, she'll have to line up a real estate agent, fix up the place, negotiate the price, continue paying taxes, utilities,etc all from out of state.
Do acknowledge that the recent comps include the real estate agent commission too.
Posted on 9/21/18 at 12:49 pm to PurpleandGold Motown
You get an appraisal and she gets an appraisal; split the difference in price.
Posted on 9/21/18 at 12:52 pm to tigers win2
$450 for me $450 for her.
That's $900 out of pocket. Seems a little much for a condo, and I was an appraiser. In fact, I'm going back into commercial appraisal at the first of the year. If she wants to pay out of pocket for one, she can, but I'm not.
That's $900 out of pocket. Seems a little much for a condo, and I was an appraiser. In fact, I'm going back into commercial appraisal at the first of the year. If she wants to pay out of pocket for one, she can, but I'm not.
This post was edited on 9/21/18 at 12:53 pm
Posted on 9/21/18 at 12:53 pm to PurpleandGold Motown
Step one: remind her that with no realtor that is a 6% savings. meaning that you are talking about 4% not 10% costs difference. Then bring up things like age of the home, roof, etc. the things the buyer will see post inspection and make her come off the price even more.
Posted on 9/21/18 at 12:55 pm to PurpleandGold Motown
Just tell her you weren't planning to pay that much, since you'll then be responsible for all the maintenance.
Then walk away peacefully
Then walk away peacefully
Posted on 9/21/18 at 12:58 pm to PurpleandGold Motown
quote:
Why yes it is.
Hi neighbor.
I would wait it out. If she wants to go through the trouble of listing to realize that she’s wrong and you’re right, wait until she’s talked with a realtor and see what price the realtor suggests to list it. She may have second thoughts and if she lists it you’ll know how much.
Posted on 9/21/18 at 1:22 pm to PurpleandGold Motown
quote:
It's hard to play rough with a friend.
It's business, not personal.
Posted on 9/21/18 at 1:27 pm to stat19
quote:You Persian?
It's business, not personal.
Posted on 9/21/18 at 1:31 pm to TU Rob
What unit? I'm in 2102.
Posted on 9/21/18 at 1:34 pm to PurpleandGold Motown
quote:
What unit? I'm in 2102.
I’m actually down on Wisteria but ride through there sometimes on the way to 31. Mine is the one with the silver Jeep for sale in the front yard.
Lots of families back in the Derby Downs neighborhood that go to school with my kids. We sold an old crib to someone living in one of those units a couple years ago.
This post was edited on 9/21/18 at 1:36 pm
Posted on 9/21/18 at 1:57 pm to PurpleandGold Motown
Just tell her you can't afford what she wants and your offer was the best you could do and pack your stuff up.
Posted on 9/21/18 at 2:08 pm to PurpleandGold Motown
If these are those condos by the country club, they are asking $102-104 per sq. ft. They are selling for $90-100 per sq. ft. depending on location, updating, etc.
How much is she asking per Sq. ft.?
How much is she asking per Sq. ft.?
Posted on 9/21/18 at 2:11 pm to PurpleandGold Motown
If you really want the house, ask her if she will split the cost of an appraisal, and sell the house at appraised value.
If she says no or in any way waffles, walk.
Not worth ruining a friendship over this. Does she really want to manage a selling process from CA?
If she says no or in any way waffles, walk.
Not worth ruining a friendship over this. Does she really want to manage a selling process from CA?
Posted on 9/21/18 at 2:12 pm to Hangit
Well, after I laid out the facts and pointed her to the closest comparable and she reviewed it, she accepted my offer. Contract is en route. Friendship is still intact, unless she forgets to pay that special assessment that just came due. That's not my responsibility.
Posted on 9/21/18 at 2:13 pm to PurpleandGold Motown
quote:
What unit? I'm in 2102.
Holy shite. I was in 2106 a few years ago.
Posted on 9/21/18 at 2:14 pm to Hangit
quote:
If these are those condos by the country club, they are asking $102-104 per sq. ft. They are selling for $90-100 per sq. ft. depending on location, updating, etc.
How much is she asking per Sq. ft.?
Nah, these are over right off 31. If you take 65 north, get off at 31 and take right before the Citgo and head up the hill, they're back there. Nice place but old. I think the owner to tenant ratio is about 85%. So people maintain stuff.
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