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It can't be this easy can it?

68EFIvert

68EFIvert

Well-Known Member
My wife and I want to build a new house (with a 5 car garage :thu). For the last 2 months we have been dealing with getting a construction loan, which still isn't finalized, as well as getting our existing house ready to sell. We listed the house on Wednesday morning and already have had about 5 agents show the house. Due to the interest our real estate agent suggested doing an open house on Sunday. I received a call from our agent this morning and we already have an offer. It is a good starting point for the negotions but not a number we would take right now. Perhaps if the new house was done and we were making 2 mortgage payments.

Selling a house can't be this easy........... can it?
 
It can if your price is right, the right people come by, the bank is just right, and you hold your mouth in a certain way.....

Not done until the final papers are signed. Lots of things can change a deal real quick.

If something does sell fast, I have always thought I was priced to low.....but you never know.......
 
Actually it can be this easy and not necessarily due to price. Could be but not always. The story of us selling our house was almost unbelievable. Good luck.
 
Quick Story, from when we bought our house about 6 months ago. We had sold our last house during the housing boom, and had been renting a house until last year. Our lease was up, so we decided it was a good time to buy. We gave notice, and agreed on a move out date, and closing date for our new house. Things turned out to be very tight, and we would be "Homeless" for a week. Our belongings where loaded onto three large Rented trucks, and parked a a secure location while we stayed with close friends.

So we are, pre approved, great incomes, steady work history, etc. It's our third house, so it was not our first rodeo. My entire family is in the real-estate business, and my wife's is a attorney, so we had all the paperwork down to a science. That same week of closing we get a call.

First - They need more proof that we paid our federal Taxes. CPA records, canceled checks, tax copies did not satisfy them! WTF!

So I called the IRS, they could not locate our Tax records, and told us it would be a long process to find them, would not happen that week. So, I called my congress man's office, and magically after a face to face meeting with the IRS - they where able to find our taxes. And with a stamped letter from the IRS, the Underwriter was happy.

Next thing that happen was that my father had decided to give us some money towards the house. We knew that if he did this, we would need paper trail, that would satisfy the Underwriter. So a few weeks earlier I meet with the Underwriter, and received a list of items to satisfy him, canceled checks, signed pappers from my father, bank account numbers etc. We get all this done, and now we are looking forward to the closing.

The next day, my father has a heart attack, (Dad's fine, thanks for asking) So I travel to Houston to be with day, It was a very minor attack and he came thru it with no damage to his heart, and was going to be spending the next week at the Hospital for tests.

The next day I get a call from the Underwriter, He wants my dad to go down to the bank, and get affidavits from the bank manager to prove that I did not launder the money thru my dad's account. I said, there was no way in Hell, my Dad was in the hospital, and why didn't he tell me this last week when I asked him about the "Gift" paperwork he needed.

At that point, I was ready to walk on the house, and tell everyone to go to hell. We had no place to live, our stuff in u-haul trucks, and wearing out our welcome at our friends house. That afternoon, I had a meeting with both my real-estate agent, and mortgage broker, and told them I was walking. Well, magically the next morning I got a call that all the paperwork was fine, and the closing was scheduled for Friday.

When we got to the closing the next day, I told the closing agent about our week, and she said it like this all over and the mortgage industry is just crazy right now.

SO GOOD LUCK!!! ;)
 
Yep, it can be that easy.

In the middle of when the lame stream media was talking down the real estate market back in about late '07 or early '08 we bought the house we are in now and then started fixing up our old house. I had several flakes stop by and try the scare tactics of "o' in this market it might be hard to sell" they were trying to get us to sell it to them dirt cheap as a flip. I told a few of them to get lost in a not so polite manner.

When we got done fixing the house up, we put a sign in the yard and had an offer in less than seven days and we were closed about 15 days after we accepted the offer.

Got about $21k more than we had paid for the house and we only lived there a little over five years.
 
Well I'll throw Im my story too.

When my wife and I got married we bought a fixer upper. 2 bedroom, 1 car garage (what was I thinking) ranch. We were there 3 years and decided I needed a.bigger garage, Haha. So we decided to build s new custom house.

We bought the land and figured we should get our house listed so we had a realtor give market evaluation and he told us we would have a hard time selling it due to only 2 bedrooms and 1 garage. We ended up listing at about $ 10,000 over what the realtor thought we could get and did not use a realtor. We had a signed offer in 3 days for over our asking price. We ended up with about $25,000 over what we had into the house for a downpayment in the new one.

Then we panicked. With construction just starting on our new house we didn't know where we going to end up in between. Fortunaly the couple buying our house had to give a 90 day ay their apartment so we timed out perfectly and moved from one house to the next on the same day.

The only advise I would give you on building a house is to plan on going over budget and don't get caught up on the little add ons. We ended up $10,000 over budget and mostly little upgrades. Its easy to say only $50 here or there but they add up fast.


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We just met with our RE agent and discussed the offer. It was about 10k lower than the price my wife and I agreed we would be happy with. We still have 3 other showings tomorrow morning so we decided to get a counter offer ready that can be submitted by the deadline tomorrow evening. I will leave a note on the counter so that the other real estate agents know that we have an offer pending that is not for full price. I will leave it very vague in attempts to get another option to choose from.

Who knows the original offer may not accept the counter. If that happens we will continue to market the house until we get a price we are comfortable with.
 
I would wait to see if a better offer comes in. Don't be in a hurry and regret selling to fast. We had people offering more after we signed our contract and we wish we would have given it more time.

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"RapidRabbit" said:
I would wait to see if a better offer comes in. Don't be in a hurry and regret selling to fast. We had people offering more after we signed our contract and we wish we would have given it more time.

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:stu

When we first got married we were in an apartment for a year then bought a town home mostly because we could buy it at a price where we sold it for $35k more than we paid for it about two years later. We were just looking to get ideas to decide whether to renew our lease or buy. The lady selling the place had owned the place for 10 years and rented it the last 5 years. Her long term renter was moving and she just wanted to get rid of it but mostly her friend that listed it usually did commercial real estate and farked up basically so they listed it way low. We snatched it up and were in a huge hurry to get it under contract before they figured it out, LOL!

When it was time to sell we listed it and then 9-11 happened about a week later. No one even came to look for a good month. We were starting to get discouraged and then after a couple of months we received three offers in one day.
 
We weren't so lucky. My wife put her town home on the market a week or so before the housing market went to total poop. It sat there, without one single offer, for about 7-8 months. I wanted to drop the price some, just hoping to get it out of our hair, but the wife wasn't having it. Ended up renting it out, which was a mistake IMO. Heaven forbid she listen to someone who works with financial planners and mortgage officers on a daily basis.
 
Sold my house about 15 months ago in 7 days at full asking price. Buyer paid more than the appraisal because she loved the house and the condition. You need to price it right. We got so lucky and found a steal of a bigger house that was on the market 9 months and several hundred thousand below original asking price.
 
Boy but the hoops these days with financing. I laughed at some of these. Ours was so similar they wanted proof of everything! What a pain in the butt!!!
 
Well they accepted our counter offer. He is pre-approved for a VA loan so we just have to pass inspection and appraisal. 96 hours from listing to sale. Now we can focus on building a new house.
 
WTG Darreld!! You should be proud and happy to get it done that fast!
 
I am pretty happy about selling the house. Not so much the house is sold. I'll kind of miss this place. A lot of hard work and improvements over the years. More excited about the 43' x 31' garage in the new house. I am already planning what I want for the next car project. :thu Right now I am thinking it will be a late 50's - 1960 Rambler American wagon. What ever it will be I think I will choose a car that isn't quite as common or popular.
 
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