Skip to main content

Selling my home in a hot market, but offers aren’t coming in like I expected.

Buyers out there, talk me off the cliff please. Tell me what’s going on on your side as a buyer.

Background: I’m selling my house due to a relocation w/ work to another state. Its a hot area (I’m told), with next to no other houses for sale. I priced it fair (I had to due to relocation requirements) and I’m not looking for crazy over asking offers.

Today was the first day its been listed “live” and we have a total of 62 showing scheduled over Sat, Sun and Monday with an offer deadline of Monday at 2pm. My realtor recommended doing this because of the hight amount of interest we’ve seen but I fear that this might have backfired.

Its the end of day 1 and there’s not been a lot of feedback and no offers. I’m super surprised by this.

I’m freaking out a little because Ive just left the house and moved to the place and I’m terrified that it wont sell now because I really expected at least one or two offers on Saturday. So buyers, tell me this: When you’ve looked at houses and there’s an offer deadline, do you wait a little while before submitting or do you still do it early? Do you look at that timeframe as more time for you to get your ducks in a row or?

submitted by /u/YupJustanotherJames
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/lu090e/selling_my_home_in_a_hot_market_but_offers_arent/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/
Post a Comment
Read more

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...
Post a Comment
Read more