Skip to main content

How can I make sure the house I’m selling doesn’t go to a flipper?

I’m about to move and sell my house. It’s a 100 year old house with really pretty architectural features, but it was relatively affordable for me when I bought it because it has a super basic kitchen with linoleum counters, scratch and dent appliances etc. In the time since I bought my house, my neighborhood has gotten more desirable and the only houses on the market in surrounding blocks appear to be flipped and crazy expensive with quartz counters and all new appliances.

I’m I am not rich and want to get my money back and not loose money on the realtor commission when I sell the house, but would love for it to go to an actual working person or family and not get bought by flippers to have ugly updates made and be resold for a crazy high price.

How can I know who is making an offer and if it is a person who plans to live in the home or a flipper? Is there any way to know?

submitted by /u/_0kra
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/sw9hih/how_can_i_make_sure_the_house_im_selling_doesnt/

Comments

Popular posts from this blog

North Carolina – “One to Buy; Two to Sell”

I realize I will likely have to contact a real estate attorney but also hoping to hear insights and experiences from others! I have a house in NC that I bought by myself in 2009, and paid off, in full, in 2022. I got married in 2023. My spouse and I have not lived in the house as our "marital residence". We have maintained separate residences even after we got married. (That a separate topic!). I am now selling this house. Realtors have told us that my husband has to sign the deed at time of transfer but I am not convinced since the house has not been our marital residence. The realtors like to use the phrase "one to buy; two to sell", which seems like a broad-stroke statement which is not applicable under all circumstances. And of course, the realtors don’t realize the details of my specific circumstances: I purchased and paid for the house in full prior to marriage Only my name is on the deed And most importantly, we have never lived in the house as a marit...

Question With Tricon "Pending ID".....

My wife and i, along with 2 other peopl applied to rent a house, and our application says "Approved, Pending ID". Anyone else know what that means? Do we pretty much have the place or are we missing something? submitted by /u/Itskrueger [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1orixqj/question_with_tricon_pending_id/

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...