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August 8, 2009 at 12:14 PM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442442August 8, 2009 at 12:14 PM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442639
george
Participant[quote=JustLurking]I suppose it depends on how desparate the seller is, and how much you are willing to overpay for the house. I think it is unrealistic to expect someone to accept a “low” offer with a home sale contingency. Sellers in that price range will consider any realistic offer a low offer. Homes in that price range are seriously levitating right now. That could change in the next 6 months, but I think it will take longer than that.[/quote]
Agree that it could take longer than 6 months for the higher-end to decrease. Will wait if we have to, but I’m buoyed by the fact that SD LookUp is showing 310 properties for sale in RSF. That’s the highest I’ve seen it in the last 18 months.
August 8, 2009 at 12:14 PM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442976Participant[quote=JustLurking]I suppose it depends on how desparate the seller is, and how much you are willing to overpay for the house. I think it is unrealistic to expect someone to accept a “low” offer with a home sale contingency. Sellers in that price range will consider any realistic offer a low offer. Homes in that price range are seriously levitating right now. That could change in the next 6 months, but I think it will take longer than that.[/quote]
Agree that it could take longer than 6 months for the higher-end to decrease. Will wait if we have to, but I’m buoyed by the fact that SD LookUp is showing 310 properties for sale in RSF. That’s the highest I’ve seen it in the last 18 months.
August 8, 2009 at 12:14 PM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #443045Participant[quote=JustLurking]I suppose it depends on how desparate the seller is, and how much you are willing to overpay for the house. I think it is unrealistic to expect someone to accept a “low” offer with a home sale contingency. Sellers in that price range will consider any realistic offer a low offer. Homes in that price range are seriously levitating right now. That could change in the next 6 months, but I think it will take longer than that.[/quote]
Agree that it could take longer than 6 months for the higher-end to decrease. Will wait if we have to, but I’m buoyed by the fact that SD LookUp is showing 310 properties for sale in RSF. That’s the highest I’ve seen it in the last 18 months.
August 8, 2009 at 12:14 PM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #443222Participant[quote=JustLurking]I suppose it depends on how desparate the seller is, and how much you are willing to overpay for the house. I think it is unrealistic to expect someone to accept a “low” offer with a home sale contingency. Sellers in that price range will consider any realistic offer a low offer. Homes in that price range are seriously levitating right now. That could change in the next 6 months, but I think it will take longer than that.[/quote]
Agree that it could take longer than 6 months for the higher-end to decrease. Will wait if we have to, but I’m buoyed by the fact that SD LookUp is showing 310 properties for sale in RSF. That’s the highest I’ve seen it in the last 18 months.
August 8, 2009 at 11:04 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442413Participant[quote=patientrenter]george, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?[/quote]
Home purchase contracts are really quite simple and to a great extent standardized. I’ve worked with and developed contracts that are far more complicated and bought and sold a number of homes in the past. If I get involved in a weird deal I’ll consult an expert. I’ll probably shop for a regular agent as we get closer to our target date, but they will have to match the $37,500 kickback (25% commission on $2.5M) or be pretty damned impressive. On the selling side I am much more inclined to use an agent as they bring a lot more value to the table in terms of sales skills, contacts and protecting me from seller liabilities.
August 8, 2009 at 11:04 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442609Participant[quote=patientrenter]george, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?[/quote]
Home purchase contracts are really quite simple and to a great extent standardized. I’ve worked with and developed contracts that are far more complicated and bought and sold a number of homes in the past. If I get involved in a weird deal I’ll consult an expert. I’ll probably shop for a regular agent as we get closer to our target date, but they will have to match the $37,500 kickback (25% commission on $2.5M) or be pretty damned impressive. On the selling side I am much more inclined to use an agent as they bring a lot more value to the table in terms of sales skills, contacts and protecting me from seller liabilities.
August 8, 2009 at 11:04 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #442946Participant[quote=patientrenter]george, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?[/quote]
Home purchase contracts are really quite simple and to a great extent standardized. I’ve worked with and developed contracts that are far more complicated and bought and sold a number of homes in the past. If I get involved in a weird deal I’ll consult an expert. I’ll probably shop for a regular agent as we get closer to our target date, but they will have to match the $37,500 kickback (25% commission on $2.5M) or be pretty damned impressive. On the selling side I am much more inclined to use an agent as they bring a lot more value to the table in terms of sales skills, contacts and protecting me from seller liabilities.
August 8, 2009 at 11:04 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #443015Participant[quote=patientrenter]george, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?[/quote]
Home purchase contracts are really quite simple and to a great extent standardized. I’ve worked with and developed contracts that are far more complicated and bought and sold a number of homes in the past. If I get involved in a weird deal I’ll consult an expert. I’ll probably shop for a regular agent as we get closer to our target date, but they will have to match the $37,500 kickback (25% commission on $2.5M) or be pretty damned impressive. On the selling side I am much more inclined to use an agent as they bring a lot more value to the table in terms of sales skills, contacts and protecting me from seller liabilities.
August 8, 2009 at 11:04 AM in reply to: Will an offer contingent on the sale of the buyer’s home be accepted? #443192Participant[quote=patientrenter]george, I hope you get some good advice here from the experts. But you are planning to spend at least $2 million on one item, and you don’t want to engage a professional for a fee to help you make the best decision? Penny-wise, pound-foolish, perhaps?[/quote]
Home purchase contracts are really quite simple and to a great extent standardized. I’ve worked with and developed contracts that are far more complicated and bought and sold a number of homes in the past. If I get involved in a weird deal I’ll consult an expert. I’ll probably shop for a regular agent as we get closer to our target date, but they will have to match the $37,500 kickback (25% commission on $2.5M) or be pretty damned impressive. On the selling side I am much more inclined to use an agent as they bring a lot more value to the table in terms of sales skills, contacts and protecting me from seller liabilities.
May 26, 2009 at 9:32 PM in reply to: What is the advantage of buying down your interest rate? #406009ParticipantAsk your mortage company to tell you how long it will take to break even on the additional $2000 you are paying up front to buy down the interest rate. If you think you will own the house longer than that you should do it. Also, you get to claim the $2000 in points as a tax deduction this year. For people with a relatively steady income that’s often an advantage since you get the tax benefit sooner.
May 26, 2009 at 9:32 PM in reply to: What is the advantage of buying down your interest rate? #406255ParticipantAsk your mortage company to tell you how long it will take to break even on the additional $2000 you are paying up front to buy down the interest rate. If you think you will own the house longer than that you should do it. Also, you get to claim the $2000 in points as a tax deduction this year. For people with a relatively steady income that’s often an advantage since you get the tax benefit sooner.
May 26, 2009 at 9:32 PM in reply to: What is the advantage of buying down your interest rate? #406497ParticipantAsk your mortage company to tell you how long it will take to break even on the additional $2000 you are paying up front to buy down the interest rate. If you think you will own the house longer than that you should do it. Also, you get to claim the $2000 in points as a tax deduction this year. For people with a relatively steady income that’s often an advantage since you get the tax benefit sooner.
May 26, 2009 at 9:32 PM in reply to: What is the advantage of buying down your interest rate? #406558ParticipantAsk your mortage company to tell you how long it will take to break even on the additional $2000 you are paying up front to buy down the interest rate. If you think you will own the house longer than that you should do it. Also, you get to claim the $2000 in points as a tax deduction this year. For people with a relatively steady income that’s often an advantage since you get the tax benefit sooner.
May 26, 2009 at 9:32 PM in reply to: What is the advantage of buying down your interest rate? #406706ParticipantAsk your mortage company to tell you how long it will take to break even on the additional $2000 you are paying up front to buy down the interest rate. If you think you will own the house longer than that you should do it. Also, you get to claim the $2000 in points as a tax deduction this year. For people with a relatively steady income that’s often an advantage since you get the tax benefit sooner.
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