I know I’m probably beating a dead horse right now but the market has me genuinely spooked. Backstory - my wife and I purchased our first home in 2018, refinanced during COVID around 3%. The problem is our growing family. We want to move out of state and into a bigger house. We have two kids, I work from home and genuinely there isn’t enough room in our house anymore. We owe right around $200k on the house and comps in the area over the last year have gone anywhere from $390-$430K with prices starting to fall over the last few months. One of two things needs to happen: rates need to go down (not going to happen) or the market continues to fall because of high interest rates. Regardless, our home will never be worth as much as it is today or was yesterday. I want to get out ASAP and get the equity while I can. Is that a stupid way to think about it? Genuinely if we hadn’t outgrown our home, I would suck it up and stay because our mortgage payment is fantastic right now. My first instinc...
Selling my fathers home out neighbor is interested as is and it would be an all cash offer. First time selling.
I’m in the process of moving my family out of state to where I live. My family has been in their home for 34 years, the house was built in the 70s and it needs some upgrades. My family home is on a rare piece of property for the area (acre and a quarter of land). That being said, I don’t know how old the roof is, I don’t think the hvac units are super old, it needs all new flooring and in the past had termites but my dad had it treated. I had some comps run and the agent stated 800k-1mil, realistically looking at 900-1mil. We have a neighbor who stated they were interested in the home, it would be an all cash offer (we haven’t fully talked numbers yet). I have never sold a house before, I don’t know what would be a realistic discount if any should be offered in case it does need a new roof and etc. If anyone has any advice, tips, or tricks I’d love to hear it. Would I just need to work with an attorney to get documents drawn up for this or would I still need an agent of some kind...