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Posted on 5/6/21 at 11:18 am to Oates Mustache
quote:
Yeah this doesn't sound like a scam at all.
It's not uncommon right now. A buddy selling his house had a couple from out of state offer over the asking price before inspection and all of that. With the ability to work from home, folks are moving to areas with lower cost of living and throwing ridiculous amounts of money at decent real estate.
Posted on 5/6/21 at 11:19 am to DownshiftAndFloorIt
quote:
but there are no good deals to be found.
Which is why you
quote:
have an offer in hand for more than I paid for it
I would not sell for the sake of trying to make a profit because I am basically going to turn around and have to drop that profit on the next house. I especially would not do it without a viable options in the market.
Posted on 5/6/21 at 11:22 am to concrete_tiger
BIL just did that in Arizona. Paid $750k sold for $900k. 4 yrs later. Renting now. Not sure I would have done that.
Posted on 5/6/21 at 11:22 am to Oates Mustache
quote:
Yeah this doesn't sound like a scam at all.
The market here is nuts, it's not a scam. Houses are selling without being listed.
Our property is adjacent to a s/d where houses sell for 2-4 million. They film lots of movies and reality tv in there. We bought cheap. They'd likely bulldoze this and build something new, it's happening all over. T
Posted on 5/6/21 at 11:23 am to concrete_tiger
quote:
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?
We received an unsolicited offer this past weekend. If our kids were graduated and out of the house, we'd have jumped at the offer. The thought of trying to find something in our school district in this market sounds awful though, so we passed on the offer.
Posted on 5/6/21 at 11:23 am to Jon Ham
quote:
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.
It's hundreds of thousands of dollars over what paid, not modest to me.
Posted on 5/6/21 at 11:24 am to The Spleen
quote:
We received an unsolicited offer this past weekend. If our kids were graduated and out of the house, we'd have jumped at the offer. The thought of trying to find something in our school district in this market sounds awful though, so we passed on the offer.
That's the trick. We have 3 kids, and we love the schools (currently).
Posted on 5/6/21 at 11:24 am to concrete_tiger
We bought in November, and before finally winning lost 3 houses to people buying unseen and without inspection...couldn't compete with that.
If we weren't already homeowners at the time, it would have been incredibly frustrating.
If we weren't already homeowners at the time, it would have been incredibly frustrating.
Posted on 5/6/21 at 11:26 am to concrete_tiger
quote:
It's hundreds of thousands of dollars over what paid, not modest to me.
Yeah, with this offer we got we'd walk away with enough to pay cash on something smaller, but there just isn't much on the market right now, and what is is way overpriced. And there aren't many rentals in our school district, and I'm not living in an apartment complex.
Posted on 5/6/21 at 11:26 am to LSUfan20005
One of my coworkers ended up living at their lake house while we were still remote for about 6 months because they sold in this market and then couldn't find anything because it was selling before inspection.
Posted on 5/6/21 at 11:27 am to holmesbr
quote:
BIL just did that in Arizona. Paid $750k sold for $900k. 4 yrs later. Renting now. Not sure I would have done that.
Meh, ~15% ROI excluding interest, fees, any money put in the house.
Not that great over a 4 year period
Posted on 5/6/21 at 11:27 am to BluegrassBelle
i rather risk not selling and staying in the green in the house vs selling high then buying high and risk being in the red one day.
Posted on 5/6/21 at 11:28 am to concrete_tiger
I get unsolicited calls and stop bys pretty often for selling our house.
We have talked about moving, but we wouldn't upsize much, just upscale. Looking for a house maybe with 200-300 more sqft (would like a laundry/mud room and larger kitchen). Just a nicer made house with more craftmanship.
We have talked about moving, but we wouldn't upsize much, just upscale. Looking for a house maybe with 200-300 more sqft (would like a laundry/mud room and larger kitchen). Just a nicer made house with more craftmanship.
This post was edited on 5/6/21 at 11:29 am
Posted on 5/6/21 at 11:29 am to BluegrassBelle
quote:
One of my coworkers ended up living at their lake house while we were still remote for about 6 months because they sold in this market and then couldn't find anything because it was selling before inspection.
if I could find a couple of acres around me that I liked I'd buy one of those pre-fab houses that were in a thread here a day or two ago, or a double wide for that matter, to live in while I build my final resting place, I'd love to cash out of my crib
Posted on 5/6/21 at 11:29 am to Slagathor
quote:
quote:
I'd pack up and head to where property is cheap.
Fantasyland?
Maybe to some. If I could be guaranteed remote work, we'd move back to south Georgia or Alabama to be near family. We were recently romanticizing this notion, property is indeed cheap.
Posted on 5/6/21 at 11:30 am to concrete_tiger
Averaging a hand written note once a week in my mailbox with a sob story and asking me to name my cash price. Market is insane here. You will not get a contract on anything under 2M unless you are all cash and waive all inspections.
Posted on 5/6/21 at 11:34 am to DiamondDog
quote:
If you’re OK renting until the market dips, sure.
And there goes the money you made selling your house.
Posted on 5/6/21 at 11:34 am to concrete_tiger
quote:
would you?
I would not. Low inventory and inflation make selling your home now a bad decision.
Posted on 5/6/21 at 11:38 am to concrete_tiger
quote:
I'd pack up and head to where property is cheap.
Which is where, exactly?
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