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concrete_tiger
Member since May 2020
1634 posts

Selling your home for profit in this market... would you?
Housing prices are nuts, as we all know. We have an unsolicited offer that could net us a considerable amount over what we owe on our house, and we wouldn't have to prep the house for sale. We'd just need to move out.

Of course, finding a new place is the hard part, but is sure is tempting to consider. If my company would just say they are going permanently remote, it would be a no-brainer. I'd pack up and head to where property is cheap.

Anyone ever done this before?


DiamondDog
LSU Fan
EYE-OH-WAY
Member since Nov 2019
4869 posts

re: Selling your home for profit in this market... would you?
Lowest inventory on record. If you’re OK renting until the market dips, sure.


LordSnow
LSU Fan
Your Mom's House
Member since May 2011
4615 posts

re: Selling your home for profit in this market... would you?
I'm not down for the attempt to purchase after I sold.

Bidding 10-100k over asking. No thanks.


DownshiftAndFloorIt
US Space Force Fan
Here
Member since Jan 2011
58492 posts
 Online 

re: Selling your home for profit in this market... would you?
No. Gotta live somewhere.

Kinda in this position with my truck. I have an offer in hand for more than I paid for it, but there are no good deals to be found.


The Torch
LSU Fan
DFW The Dub
Member since Aug 2014
14729 posts

re: Selling your home for profit in this market... would you?
But then you have to pay to live somewhere else


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150
Oates Mustache
US Space Force Fan
Member since Oct 2011
11292 posts

re: Selling your home for profit in this market... would you?
quote:

We have an unsolicited offer that could net us a considerable amount over what we owe on our house, and we wouldn't have to prep the house for sale. We'd just need to move out.


Yeah this doesn't sound like a scam at all.


momentoftruth87
Arkansas Fan
Member since Oct 2013
42337 posts

re: Selling your home for profit in this market... would you?
Have been thinking about it and moving to the south. Currently getting bids for master bath reno. A comparable was about 100k asking more than what I paid for mine, with less updates. Was surprised.


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21
Jon Ham
Arkansas Fan
Member since Jun 2011
22095 posts

re: Selling your home for profit in this market... would you?
Your primary residence should not be looked at as an investment. If you aren’t looking to move and you like your home/location, I don’t think it’s worth the hassle to pocket what would be a modest profit after considering real estate agent fees, moving costs, time/hassle.


Slagathor
Makin' jokes about your teeny tiny
Member since Jul 2007
31787 posts

re: Selling your home for profit in this market... would you?
quote:

I'd pack up and head to where property is cheap.


Fantasyland?




BluegrassBelle
Kentucky Fan
RIP Hefty Lefty - 1981-2019
Member since Nov 2010
84603 posts

re: Selling your home for profit in this market... would you?
If you're selling to upsize, you're not making a profit as housing costs (especially if you decide to build) are ridiculous right now.

Now if you're selling and downsizing, you MIGHT make a profit depending on how far you downsize and if there aren't a bunch of immediate repairs needed.

We bought in December but we were moving out of an apartment/condo.


LSUBoo
Houston Astros Fan
Knoxville, TN
Member since Mar 2006
88793 posts

re: Selling your home for profit in this market... would you?
No, I'd just be putting even more money into a new house with the market so high.

Maybe if I was trying to downsize.


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50
momentoftruth87
Arkansas Fan
Member since Oct 2013
42337 posts

re: Selling your home for profit in this market... would you?
If I didn't have kids, I'd go buy a camper tbh. No way in hell would I do it with 3 kids though.


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91
lsu13lsu
Member since Jan 2008
9336 posts

re: Selling your home for profit in this market... would you?
quote:

I'm not down for the attempt to purchase after I sold.


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10
jbgleason
LSU Fan
BTR, suck it all you haters
Member since Mar 2012
15602 posts

re: Selling your home for profit in this market... would you?
quote:

Yeah this doesn't sound like a scam at all.


I mentioned to someone that I am going to put my house on the market in a couple of months after I get it ready to sell. It's older and needs some stuff done and a deep cleaning. Already got a call from a guy who wants to come walk it and make an offer. I haven't thought about setting a price yet. Apparently this is a Doctor that just moved here to work at the new Children's off Essen and the house is in SouthDowns.

I am planning on moving to the NorthShore and guess, if the price is right, I will just rent a condo until the market drops out and then use the money to buy something nice. I don't see the downside of the plan.


rexorotten
Missouri
Member since Oct 2013
869 posts

re: Selling your home for profit in this market... would you?
quote:

Yeah this doesn't sound like a scam at all.


It's not uncommon at all.


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110
LNCHBOX
LSU Fan
70448
Member since Jun 2009
70536 posts
 Online 

re: Selling your home for profit in this market... would you?
quote:

Yeah this doesn't sound like a scam at all.



Why? Happens in desirable areas all the time, even before the current wild market.

I sold my last house before I even really decided to sell it. The buyer heard we were thinking about it through word of mouth. We closed a couple weeks later.


LSUfan20005
LSU Fan
Member since Sep 2012
6960 posts

re: Selling your home for profit in this market... would you?
quote:

Of course, finding a new place is the hard part


I know two things for sure:

1.) There are NO houses that I want currently on the market in the areas I'd move to (if I sold)

2.) If one were to come onto the market, it would be overpriced and negate the whole affair


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Oates Mustache
US Space Force Fan
Member since Oct 2011
11292 posts

re: Selling your home for profit in this market... would you?
Because an unsolicited offer sounds like someone purchasing it sight unseen. Is that not what he's suggesting?


concrete_tiger
Member since May 2020
1634 posts

re: Selling your home for profit in this market... would you?
quote:

I'm not down for the attempt to purchase after I sold.

Bidding 10-100k over asking. No thanks.


Yep, that's the scary part. I think it would take my company deciding to save their rent and letting us work remote forever... being bound here is the challenge.


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LNCHBOX
LSU Fan
70448
Member since Jun 2009
70536 posts
 Online 

re: Selling your home for profit in this market... would you?
quote:

Because an unsolicited offer sounds like someone purchasing it sight unseen. Is that not what he's suggesting?



That's what happened with mine No clue what OP's hood is like, but at least for my old area it was not all that uncommon.


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