My experience selling.

My selling began almost 2 months ago during my search for a realtor to sell my house. My transfer at work came through and I now had the task of selling. I met with a few realtors and an investor. The investor offered $520k and the realtors told me I would get between $580 and $600k. I paid $300k in 2019 so I happy and we are moving to a lower cost of living city.

I decided to list it, we were getting tons of interest open house was busy but no offers even though we were the lowest priced house in the neighborhood at $570k by about $50k. In the meantime my wife and I were looking at houses and found one we absolutely loved and put an offer with a contingency for selling my house. That same day someone offered us $570k for our house but ultimately dropped out once they shopped for rates and realized they went up drastically. I instead reached out to the investor and they were still interested so we went under contract.

Unfortunately this “investor” was a joke and was just trying flip it prior to closing with me and eventually cancelled our deal which caused me to cancel the contract to buy. This happened a week ago and really i wasn’t to worried and half expected it.

I had remained in contact with the realtor we were using and asked if he was still interested and this time I’m putting everything in his hands. We decided to list it low, well below comps at $500k. The second it was listed we had probably 20 requests to see it for the week and we had open house scheduled for Saturday and Sunday. The first day we had an offer for $530k but wanted to wait until after open house before looking at all offers.

Today our realtor put together our offers list and they were $530k with 10 day inspection and no appraisal contingency, $540k 7 day inspection and no appraisal contingency and $550k with 7 day inspection and a 20k appraisal gap and a later closing date.

The lady that offered $530k was very motivated and I was all set to accept her offer, even asked my wife if she would be happy with that and she said yes. I told the realtor if she drops to a 7 day inspection we will accept the $530k as the $540 offer had to high DTI and we ran the risk of financing falling through and I didn’t want to deal with an appraisal contingency.

Then the person that offered $550k upped his to $560k still with the 20k appraisal and later closing. I was still happy with the $530k and relayed that to my realtor. I don’t know what he said to their realtor but they came back at $565k with 7 day and no appraisal, which we immediately accepted.

Now I wait 7 days before I can shop again, the house I loved is still on the market but I’m worried the seller will be put off that we had to cancel the initial purchase but we did offer the rent back they offered which was until the beginning of June and we can still stick to that schedule if they need.

People are still shopping for houses, bidding over asking and waiving things. We have the only house for sale that is move in ready but hasn’t been completely remodeled to look modern and still has the charm from when it was built in the 40s. We also made it known in our disclosure that it has been 3 years since our last termite treatment as they are bad here in SFL and we have recently seen evidence that they are starting to swarm. We are happy to pay for the treatment but want it done after we move our stuff out.

I’ll probably also discuss with my wife about covering some of the closing costs but we won’t disclose that until closer to closing. We are just happy that someone who genuinely loved the house and will maintain it is the one that will be buying it and we still are able to get what we need to get settled in the new city.

submitted by /u/limepr0123
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My selling began almost 2 months ago during my search for a realtor to sell my house. My transfer at work came through and I now had the task of selling. I met with a few realtors and an investor. The investor offered $520k and the realtors told me I would get between $580 and $600k. I paid $300k in 2019 so I happy and we are moving to a lower cost of living city. I decided to list it, we were getting tons of interest open house was busy but no offers even though we were the lowest priced house in the neighborhood at $570k by about $50k. In the meantime my wife and I were looking at houses and found one we absolutely loved and put an offer with a contingency for selling my house. That same day someone offered us $570k for our house but ultimately dropped out once they shopped for rates and realized they went up drastically. I instead reached out to the investor and they were still interested so we went under contract. Unfortunately this “investor” was a joke and was just trying flip it prior to closing with me and eventually cancelled our deal which caused me to cancel the contract to buy. This happened a week ago and really i wasn’t to worried and half expected it. I had remained in contact with the realtor we were using and asked if he was still interested and this time I’m putting everything in his hands. We decided to list it low, well below comps at $500k. The second it was listed we had probably 20 requests to see it for the week and we had open house scheduled for Saturday and Sunday. The first day we had an offer for $530k but wanted to wait until after open house before looking at all offers. Today our realtor put together our offers list and they were $530k with 10 day inspection and no appraisal contingency, $540k 7 day inspection and no appraisal contingency and $550k with 7 day inspection and a 20k appraisal gap and a later closing date. The lady that offered $530k was very motivated and I was all set to accept her offer, even asked my wife if she would be happy with that and she said yes. I told the realtor if she drops to a 7 day inspection we will accept the $530k as the $540 offer had to high DTI and we ran the risk of financing falling through and I didn’t want to deal with an appraisal contingency. Then the person that offered $550k upped his to $560k still with the 20k appraisal and later closing. I was still happy with the $530k and relayed that to my realtor. I don’t know what he said to their realtor but they came back at $565k with 7 day and no appraisal, which we immediately accepted. Now I wait 7 days before I can shop again, the house I loved is still on the market but I’m worried the seller will be put off that we had to cancel the initial purchase but we did offer the rent back they offered which was until the beginning of June and we can still stick to that schedule if they need. People are still shopping for houses, bidding over asking and waiving things. We have the only house for sale that is move in ready but hasn’t been completely remodeled to look modern and still has the charm from when it was built in the 40s. We also made it known in our disclosure that it has been 3 years since our last termite treatment as they are bad here in SFL and we have recently seen evidence that they are starting to swarm. We are happy to pay for the treatment but want it done after we move our stuff out. I’ll probably also discuss with my wife about covering some of the closing costs but we won’t disclose that until closer to closing. We are just happy that someone who genuinely loved the house and will maintain it is the one that will be buying it and we still are able to get what we need to get settled in the new city. submitted by /u/limepr0123 [link] [comments]

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