Woo Hoo!! Got an offer on the house!! BIG Update pg.4!!

[kaylajr]

fingers crossed for you

 

[Pooh67_68]

 

[C.Ann]

Well the gal countered back this afternoon - $8000 less than what I countered.. Not gonna happen.. Showings at the house have been increasing since right after New Year's Day, so I'll hold steady..

Of course we still may hear from her again.. Her house is sold and she has to close and be in a new place within 30 days..

 

[mrsv98]

We went back and forth several times with our sellers so don't give up on her yet. And as you say, showings will increase now that the holidays are over. Good luck!

 

[ilovepcot]

With people this interested, it's gonna happen and soon. So, you moving down here with all the other DISERS?

 

[C.Ann]

With people this interested, it's gonna happen and soon. So, you moving down here with all the other DISERS?

-----------------------

Moving down there? No.. Becoming one of those annoying "snow birds"? Probably.. Just show me the money baby..

 

[GJM]

Same thing is happening to us. All of a sudden we are getting some action on our Townhouse, it has been on the market since Sept.

Someone offered us $25,000 less than our asking price, which is our asking price is pretty low right now. Well they have now come up to almost our asking price, but they want us to fix 2 things.

Good Luck with the selling.

 

[malibuconlee]

Things are looking up!! Good luck, and I agree, don't count her out yet.

Our house went on the market the Friday after Christmas. I'd just like to sell it soon so we don't have to pay utilities on two houses all winter.

The movers come next Monday!!!

 

[Mimi Q]

Sending you some more pixie dust. Hope your home sells soon.

 

[ilovepcot]

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Moving down there? No.. Becoming one of those annoying "snow birds"? Probably.. Just show me the money baby..

Awwww.....not another snow bird! Where are we gonna put all of you??? Well, by being a SB you can have your cake and eat it too!

 

[barkley]

the markets going to start picking up now (esp. with buyers that want to get before the "mad summer dash").

we will be putting ours on the market in the next couple of months and i have a question for those who had an experience with an accepted bid falling through due to the buyer's having a credit problem. is it just a regional thing (we live in california) but don't some relators require (with the sellers approval) that a bid is only acceptable from a prequalified/preapproved (loan wise) buyer? seems like out here unless you are preq/prepp. in writing for a loan amount realtors wont accept a bid (and the acceptance is contingent on providing the verification to the seller's agent within x number of hours of acceptance).

i'm curious-i've known a sale to fall through when the house appraisal did'nt come up to the selling price (and the loan company denied the loan), but how often does a seller lose out on valuable selling time cuz the buyer did'nt have financing lined up before sealing the deal?

also-is anyone/anywhere still willing to sell a home contingent on the buyer selling theirs (it's pretty much unheard of out here).

 

[lookingforward]

Realtors won't even show homes to prospective buyers without some sort of pre-approval where I live. That said, the buyer could look good on paper (credit score, income...and get the preapproval) and when the bank gets ready to finalize the mortgage they could find out about judgements, tax liens, etc. We had one buyer who lost his job a few weeks before closing and the deal fell through. Nowadays, though, it seems as long as they have 20% to put down anyone can get a mortgage!

 

[barkley]

Realtors won't even show homes to prospective buyers without some sort of pre-approval where I live. That said, the buyer could look good on paper (credit score, income...and get the preapproval) and when the bank gets ready to finalize the mortgage they could find out about judgements, tax liens, etc. We had one buyer who lost his job a few weeks before closing and the deal fell through. Nowadays, though, it seems as long as they have 20% to put down anyone can get a mortgage!

20%! we live in the land of the ZERO down, 100% financed and ZERO towards principle mortgages i can't imagine anyone doing this-but they must i just imagine when the market ultimatly comes down these homeowners NEVER being able to sell cuz their houses will be so upside down in value. and with starter homes in the bay area around 600K

i just hope to price our right (a good deal for both us and the buyer) so that it will sell quickly and i won't have to endure much running into the kid's rooms to pick-up for showings (and wondering each day "hmm-will the aroma of this dinner item cooking turn off a potential buyer?" ).

 

[lookingforward]

Yes, in South Florida we have a lot of creative financing too. Makes me nervous about the market too because prices have risen so fast here. A 1800 square foot unrenovated home in Boca starts at about 500,000 now in a decent neighborhood. Problems I see occuring are: if the market goes down many people buying at the peak will have a negative equity. Also, a lot of the average folks who bought years ago when it was still affordable have been cashing out their enormous equity to live a grander life. People refinance here monthly and if the market slows or turns it is going to hurt. Finally, if the prices keep rising the neighborhoods will suffer because much of the properties are being bought by foreigners who just want a place in the sun and can afford the price. They are not here for more than a few months a year and they are not invested in their community. Makes for lonely streets and neighborhoods.

The buyer who pays cash or can escrow a large amount (factors that can get you into contract FAST around here) are a hot commodity. You kind of know that if they are putting 20% down they will get the mortgage (even if they filed bankruptcy two months ago) because with the appreciation and the signifigant down payment it is a win win for the bank if they default.

 

[malibuconlee]

i'm curious-i've known a sale to fall through when the house appraisal did'nt come up to the selling price (and the loan company denied the loan), but how often does a seller lose out on valuable selling time cuz the buyer did'nt have financing lined up before sealing the deal?

also-is anyone/anywhere still willing to sell a home contingent on the buyer selling theirs (it's pretty much unheard of out here).

That does still happen. I know it did on a house here this summer. It was a set number of days (I think 45) that they had to find a buyer.

Make sure that your agent doesn't put it in the MLS as straight Pending until all of the contingencies have been met (financing approved, inspections done). Having it listed as PBU Pending - Take Back Up Offers it's not completely off the market. That's another reason they don't put the "Sold" sign on a house right after you get an offer.

That's also why you have earnest money. It's supposed to be enough to make the seller feel good about taking the house out of commission while waiting for the paperwork to go thru. You can always ask for more earnest money. although I know around here it's not usually that much. Usually $500 or $1000.

 

[C.Ann]

also-is anyone/anywhere still willing to sell a home contingent on the buyer selling theirs (it's pretty much unheard of out here).

--------------------------------

That's pretty much been a thing of the past for a couple of years here now.. What a lot of people are doing (that would make me EXTREMELY nervous) is getting bridge loans - moving into their new homes before their old homes have been sold..

In my case my home is empty - I don't need to purchase another one - and from the comment cards that have been filled out by people during the Open Houses and showings, they consider that a definite plus - that they can move in as fast as they can close the deal.. They've also raved about the total remodel that my son-in-law did of the house - marked everything "excellent", with additional comments praising the workmanship and layout.. It was interesting reading those comment cards - I never even knew that my realtor was having them filled out!

 

[C.Ann]

Well - she came back with an offer of $7000 more - still not enough - so we countered back again.. Only difference is this time she let the info slip out that she has to close and be in the house by Feb. 8th - not the original 30 days we were told.. Doesn't give her much time to find something else, so hopefully she'll just cough up the rest of the money and be done with it..

Keep everything crossed and that PD coming!!

 

[kdibattista]

Sounds very promising... continued good luck!!!

 

[Serena]

Good luck!

 

[DMRick]

Well the gal countered back this afternoon - $8000 less than what I countered..

*Snip*

Well - she came back with an offer of $7000 more

Doesn't that make you only $1,000 apart? Isn't that good? So if you recounterd, (maybe another $500 to be in the middle), it sure sounds like she would take it. Fot that little difference, she might as well be done with it. Also, didn't she want to be near a relative and your house was?