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SD Realtor
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ParticipantGet comps, talk to a realtor out there who can help you with short sales, and price your home to the bone to get out of the mess. Get a short sale going immediately.
SD Realtor
ParticipantGet comps, talk to a realtor out there who can help you with short sales, and price your home to the bone to get out of the mess. Get a short sale going immediately.
SD Realtor
ParticipantJust an update on my Poway listing VC… The buyer tried one last time before contingency removal to get more concessions out of us. We said no and made sure he knew we would come after him for liquidated damages if he cancelled after contingency removal. He did not remove contingencies and instead signed the cancellation instructions. Again, whatever you are going to do, I would advise you to do it prior to releasing your contingencies.
SD Realtor
ParticipantJust an update on my Poway listing VC… The buyer tried one last time before contingency removal to get more concessions out of us. We said no and made sure he knew we would come after him for liquidated damages if he cancelled after contingency removal. He did not remove contingencies and instead signed the cancellation instructions. Again, whatever you are going to do, I would advise you to do it prior to releasing your contingencies.
SD Realtor
ParticipantI am sure your realtor already did this for you but you did notice that the listing went on the market originally in 10/12/06 and sat on the market for 182 days before it expired. The listing agent is Christine Clark. Not to long ago I represented a buyer who purchased a home out there. He bought a higher end home not far from yours and I believe he is happy with the area. However he does not have children and does have a need for horse property. The listing agent is pretty good, like I said she has alot of listings out that way and is quite well known. The listing then expired and was relisted in April. It has been on the market another 43 days. The seller is offering 3% commission to your agent. I think you are getting a decent price but I feel you could drive a bit harder bargain given the time they have been on the market. Note, I have not been out there to compare other listings, so if this home is markedly better then everything you have seen in the price range then run with it. However just looking at the raw data without other knowledge I would twist their arm a little bit more….
SD Realtor
ParticipantI am sure your realtor already did this for you but you did notice that the listing went on the market originally in 10/12/06 and sat on the market for 182 days before it expired. The listing agent is Christine Clark. Not to long ago I represented a buyer who purchased a home out there. He bought a higher end home not far from yours and I believe he is happy with the area. However he does not have children and does have a need for horse property. The listing agent is pretty good, like I said she has alot of listings out that way and is quite well known. The listing then expired and was relisted in April. It has been on the market another 43 days. The seller is offering 3% commission to your agent. I think you are getting a decent price but I feel you could drive a bit harder bargain given the time they have been on the market. Note, I have not been out there to compare other listings, so if this home is markedly better then everything you have seen in the price range then run with it. However just looking at the raw data without other knowledge I would twist their arm a little bit more….
SD Realtor
ParticipantYes they have tightened the lending standards. Yet I still don’t think that means much these days.
SD Realtor
ParticipantYes they have tightened the lending standards. Yet I still don’t think that means much these days.
SD Realtor
ParticipantHi Rus –
Good idea or bad? Don’t know. By my estimate the place could easily use 50-75k to get into the respectable range which will take at least 8-10 weeks FULL TIME powering work. Also the back yard is TINY and the home is on a funky lot but it is in a cul-de-sac. I think the guy can turn a profit even in this crappy market for what he is getting it for. No it will not pencil out as a rental at 100% financing. Not even close.
Realtor
ParticipantHi Rus –
Good idea or bad? Don’t know. By my estimate the place could easily use 50-75k to get into the respectable range which will take at least 8-10 weeks FULL TIME powering work. Also the back yard is TINY and the home is on a funky lot but it is in a cul-de-sac. I think the guy can turn a profit even in this crappy market for what he is getting it for. No it will not pencil out as a rental at 100% financing. Not even close.
Realtor
ParticipantAs sdr said there is a proper way to go about renegotiating that has to do with timing. If you are simply trying to renegotiate the sales price for no reason other then to run the price down, then you will most likely piss the seller off and can possibly be liable for liquidated damages. However (again as sdr implied) through the due diligence period you found that the home was in need of serious repairs, or there were disclosures that pointed out things that were of true and real concern, then yes your request would be received in a much more realistic sense by the seller. Again, many times there are requests you will want to make, that may be received in a much different light, by the seller if you have good reason, and time them properly.
On the other side of the coin, a buyer just tried something similar to that for one of my listings. I feel we have the price set very aggressively on the home, and that it would sell if we re-entered the market so we rejected his offer and delivered cancellation instructions to illustrate our resolve that he could pound sand. He did not cancel and has moved forward with releasing contingencies.
SD Realtor
ParticipantAs sdr said there is a proper way to go about renegotiating that has to do with timing. If you are simply trying to renegotiate the sales price for no reason other then to run the price down, then you will most likely piss the seller off and can possibly be liable for liquidated damages. However (again as sdr implied) through the due diligence period you found that the home was in need of serious repairs, or there were disclosures that pointed out things that were of true and real concern, then yes your request would be received in a much more realistic sense by the seller. Again, many times there are requests you will want to make, that may be received in a much different light, by the seller if you have good reason, and time them properly.
On the other side of the coin, a buyer just tried something similar to that for one of my listings. I feel we have the price set very aggressively on the home, and that it would sell if we re-entered the market so we rejected his offer and delivered cancellation instructions to illustrate our resolve that he could pound sand. He did not cancel and has moved forward with releasing contingencies.
SD Realtor
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