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Update on Selling House

10 years ago

Wanted to do this update regarding selling our house. We ended up trying to sell ourselves with a for sale sign and at the same time listed with a realtor. We interviewed three realtors. One gave a ridiculously high suggested sales price, one gave a ridiculously low price and one suggested a price right in the middle of the others that we thought would be good. I had looked at the sold comps in the neighborhood along with the houses currently for sale, and decided on a sales price. We picked the realtor with the suggest sales price in the middle. We also picked that realtor because her ideas about staging, etc. were exactly what we were thinking.

We had some people call because they saw our for sale by owner sign. (NOT FSBO, just a $16 sign from HD). We had two showings from that sign. No offers were made. Oh well, at least we tried! And yes, the realtor knew we would be trying on our own and agreed to it. If we sold, no commission to her. If she sold, she gets her commission. We were very happy with the deal we made.

Our house was listed on the MLS with the realtor on a Tuesday. We had showings right away that week and showings that weekend. Sunday afternoon of our first weekend listed, our realtor called with two offers! Yippee! The offers were lower than asking, which we had expected. We negotiated with both parties fairly strongly and didn't come down far from our asking. Sure enough, one of the parties offered us "almost" asking price. We were very happy.

Inspection has been done with no problems that can't be easily fixed and now the attorneys are preparing the contracts. We're hoping all goes well, but realize anything can still happen. You just never know!

We are very pleased with the realtor we picked. She did her job for sure!

I'll let you know how this deal progresses. Wish us luck!

Comments (93)

  • 10 years ago

    Wow how come you have so many crazy buyers? So unfair to you trying to get the house sold. I hope everything finally works out. Maddening! We will be putting our main home on the market we think within a month. I dread it!!

    RGRS what happened with your home?

  • 10 years ago

    I don't know why we have had so many crazy/flakey buyers. Our pool of buyers have been older adults and our home will be a second home to them. I don't know if that has anything to do with it. It has been maddening to say the least.

    The current two offers seem like good/normal people. We have learned that there is more than meets the eye with buyers. We are 100% doing what is in our best interest. We are doing our best to get one of these deals to contract.

    Thanks again for everyone's support on this. I really appreciate it!

  • 10 years ago

    Barb, you must have a great house in a great location! I wonder if that's why you are getting offers from people who love it but really cannot quite afford it or aren't really ready to purchase but really want it. Hopefully you will get a solid contract and sale from one of the two offers you have now. You're right - seems to be a lot of nuts out looking for houses. At least you're getting offers and not just sitting there waiting. Hang in there :-).

    Nancy - I wrote about our experience a few comments above. We're still waiting for a solid buyer - open house today.

  • 10 years ago

    I did read it but for some reason thought that had happened awhile ago. That's what I get for reading posts at midnight lol Hope you get that perfect buyer soon!

  • 10 years ago

    My relative went through very hard experience with buyers..her smallish house was priced right, and it was in the one of the best neighborhoods around Boston..the buyers wanted it so much because it was a huge opportunity for them to get their kids into very prestigious public schools. And then the bank etc. started making problems. More than that-there was some inner battle between the workers in the escrow company or something. Totally unrelated to these poor buyers. It took so long and these buyers fought with their claws..my relative though was an inch from ending this, so nerve-racking. They did close that sale, in the end. Everyone's happy. But wow, so long and exhausting for everyone involved.

    wishing success to all of you guys!

  • 10 years ago

    What do you mean that the buyers are making offers but refuse to put money down?

  • 10 years ago

    We have received 7 offers so far. What I mean by no one putting money down is this: We have not gotten a contract signed with the attached "down payment" yet. We've had buyers that have agreed to a price, then inspected our house, and then the deals ended there. Never got to contract. And no, there is nothing wrong with my house. All the inspections were fine. I could write a book on the reasons we were told the buyers dropped out.

    We've had 3 buyers get to the point of contract. All 3 have dropped out right at the point where they should sign the contract and attach the "down payment". I call it the "show me the money" moment. Talk is cheap!

    RGRS: I agree with you. Everyone seems to want our home, but don't have the funds. They seem to be spinning their wheels.

    We have 2 offers we are now working on at the same time. They both know we are dealing with two offers. We actually had 3 at the same time, but that buyer was a nut and we told her to go pound sand. Both buyers have had their inspection. It's now the "show me the money" time.

    I'll keep everyone updated as we go along.

  • 10 years ago

    Barb that is so weird! We get the down payment and signed contract first THEN they get the house inspection. Why have they had the house inspected without a signed contract and down payment?? That is so backward! Wishing you the best with these two interested buyers.

  • 10 years ago

    I think you can ask for proof of financing or financial ability to purchase - not sure what it is called. Maybe NC can weigh in on this one.

  • 10 years ago

    We are on Long Island, New York, that's why it's weird. All the looks you want, then offer , then inspection, then hey, why don't we triple check and look again? And then, let's look at the house and sit in their backyard and BS for a couple of hours. Buyers can ask for as many looks as they want. They can ask for a contractor to look at the house, they can ask for an electrician to look at the house, they can ask for a HVAC person to look at the house, they can show it to their parents, etc. all before contract. One of the 2 offers we now have looked at the house twice and then had a 3 hour inspection. I told Dh they must be having a BBQ in the backyard. LOL Totally crazy. As sellers we certainly have the right to deny a buyer to look at the house again, but we really have no choice until that contract is signed, as we do want to sell our home. The final part of the process is the contract with the down payment.

    One of our first offers the buyer had our contract for three weeks and was dragging his feet, saying he was going to sign the contract "any day". After all the looks, inspection, etc. said he wanted to send in a HVAC person before he signed the contract (Yes, this was after an inspector looked at our house and said it was fine). Our attorney told him either you want the house or not. Buyer refused to sign the contract. We told him to go pound sand. Another casual buyer who for some reason likes to spin...

    Yes, we have asked for "proof of funds" for every offer. Right now one of the buyers is dragging their feet on that request. Needless to say, we would never sign a contract without proof of funds. In our experience, that's not a good sign. Time will tell.

    When we bought our vacation home in Florida it was down payment and contract first. I believe that's what most states do.

  • 10 years ago

    So frustrating...

  • 10 years ago

    Barb that is what is happening now with our second home in Florida. The first buyers who backed out gave an offer, we accepted and we both signed contract, then inspection. Because inspection brought up a question on roof the buyers hired a roofer so yes it isn't unusual for buyers to hire specific inspectors for anything that would be questionable but usually done once an offer is given and accepted. I have had family bringing back family members and coming three different times......then nothing. It must be extremely frustrating as rgrs states above.

  • 10 years ago

    It is frustrating. We are in a good position, since we don't have to sell our home, but we would like to. But, we are ready to move forward. In Florida since you sign a contract first with a down payment I think you weed out a lot of "lookie loos". I do realize there are still outs due to inspection, but only a serious buyer would put money down.

    Nancy: I've been following your saga on your Florida home. We our kindred spirits on the frustration issue! I am hopeful that you will sell soon!

  • 10 years ago

    Nancy: We've had a condo in Naples for about 7 years. We're going to live in the condo after we sell on Long Island. When we get there we plan on buying a house. Looking forward to house shopping and driving the sellers crazy. LOL

    We're ready to retire and enjoy our lives.

  • 10 years ago

    Good for you! Not sure about Naples but our area there is not a lot of inventory. Naples is beautiful. Stayed at The Beach Club many times with a friend in October. Great time of year as it is less busy! It is so much fun house shopping. Something tells me you would not drive a seller crazy like they are doing to you!

    BarbSun Tondo thanked NewEnglandgal
  • 10 years ago

    I know... I wish I had it in me to drive a seller crazy, but I don't wish that on anyone. We've been going to open houses in Naples for a few years to check out the communities and houses and watching the market for pricing. There is a lot of new construction, but we are not interested in that. We are looking for a resale in an established community. There seems to be a bunch of homes in our price range that we would like.

  • 10 years ago

    That is good news for you! We are going to take our time to look around different areas to see what we like. Hoping more comes available in the next year. Let me know how you make out!

    BarbSun Tondo thanked NewEnglandgal
  • 10 years ago

    I have never been able to wrap my head around the buying/selling process of NY state.

    Hang in there!

    BarbSun Tondo thanked ncrealestateguy
  • 10 years ago

    Thanks NCrealestate guy!

  • 10 years ago

    Not all NY State is like that, thank goodness. I live in Buffalo NY and we negotiate a contract, get a signed contract with an Earnest Money Deposit, and then we do our inspections within a certain number of days.

    Of course, most the world thinks the NYC/Long Island area is all of NY ... that's OK, we just laugh about that.

  • 10 years ago

    Now I have a question for realtors where their state signs a contract with the contract/offer first, then inspection. We will be looking at homes in Florida. Would it be possible to get an inspection before we make an offer? Seems to me, this would be better for us as we would be buyers.

  • 10 years ago

    In states where the offer is made first the purchase price is often renegotiated based on the results of the inspection. The purchase should be contingent upon the inspection. I think this works to the buyers advantage in many cases because the house has been off the market for 10+ days and a motivated seller will want to keep the sale moving forward. For major items I'd ask for cash back rather than having the seller do a rushed repair.

  • 10 years ago

    Just make up your mind and make an offer contingent to inspection. As a recent seller, I'd say NO if you wanted to have a three-hour inspection. Now, if you have a contractor friend and want to bring him/her along, fine. But not an inspection.

    Better for you? Annoying the sellers?

    I understand the problems of selling in Long Island, but that is certainly not the norm elsewhere.

  • 10 years ago

    Of course, most the world thinks the NYC/Long Island area is all of NY ... that's OK, we just laugh about that.

    Oh we just consider you the OTHER NY. ;)

  • 10 years ago

    Thanks for the advice! I really appreciate it. Hey, I love all of New York! No worries.

  • 10 years ago

    When asked where I am from, I say Rhode Island. Do you know how many people respond "is that in New York?" No, that is LONG Island. Dear God.

  • 10 years ago

    I was born and raised in West Virginia. There are many people that think it is western Virginia... they do not even know that West Virginia is a state!

  • 10 years ago

    Probably the same people who wonder if they need a passport to go to New Mexico.

  • 10 years ago

    LOL! Shocking that people do not know the states.

  • 10 years ago

    LOL! Shocking that people do not know the states.

  • 10 years ago

    We are in NY. Not upstate, not the city, and not long island. I think that means we don't really exist? :)

    most people assume anything that is not the city or long island is "upstate" not true! many from our area commute to the city.

    Anyway we are buying and selling and follow the same process as Long Island. Last time I bought a house (10 years ago) you put down at least $500 with the offer before the inspection and contract. My realtor says no one even bothers anymore. an inspection with well and water is $600-700 dollars so you have to assume someone is somewhat serious if they are willing to negotiate and then pay that inspection fee. It is nerve wracking though on both sides. we are on the buy side now and anyone could come along and offer more then us while we are waiting on the inspection and the results! there is nothing to stop the seller from taking another offer, and years ago we did have that happen.

  • 10 years ago

    Actually as a Lawn Guylindah we consider anything North or West of the city "upstate". And yes the city does include all 5 boroughs.

    It truly is shocking how ignorant so many are of our own country. Scary when you think about it.

  • 10 years ago

    In Buffalo, we reject the "Upstate" title, as far as we're concerned we're in Western NY. :>) It's only a mere seven hour drive from Buffalo to NYC.

  • 10 years ago

    My mother was born in New York. Her family lived in Brooklyn and some of them never went further than several blocks from home.

    Now we are in the South and people who say they are going "up Nawth" mean they are going to Atlanta. Many, many people have never left their own state. Some have maybe gone 2 or 3 counties over.

  • 10 years ago

    Good news! DH and I are now officially in contract to sell our home! We ended up having two offers at once. Here's the story:

    A couple (couple A) looked at our house and made an offer. We accepted. They proceeded to inspection about a week later. Another couple (couple B) looked at the house and loved it! We accepted Couple B's offer ,which was a higher amount and cash. Remember, this is Long Island and there's nothing in writing yet! At this point both couples were told there were two offers on the table.

    Couple B's realtor, through our realtor, told us that this couple loves the house and would be heart broken if they don't get it. She then asked, what can they do to ensure they get the house? I told her they can get an inspection quickly, get proof of funds to us quickly, and sign a contract quickly. Their realtor agreed. We were hopeful.

    Meanwhile couple A (who knows there is another offer) waits about 3 days to get back to us about their inspection. While this is going on, Couple A steps up to the plate and gets their inspection done, no problems there, gets proof of funds to us and asked for the contract for them to sign.

    Now we hear from Couple A's realtor. She gives us a laundry list of ridiculous things that Couple A wants "fixed". It was the most nit picky list I've ever seen, and most of the items weren't "broken". We respond to them, no way are we doing anything on their list. A day later my realtor called and said they said OK, but there is just one thing on the list they insist on. Remember, Couple A knows there is another offer. I respond to them, we'll think about it and get back to you. We thought it was very odd of Couple A to act like this knowing there was another offer on the table. To put it bluntly, Couple A was a pain in the arse!

    During all of Couple A's inspection negotiations, we're sending a contract to couple B for signature and down payment. Yes, we were considering both offers in our best interests. As you know, we've had a bunch of offers fall apart when it was time to sign the contract.

    The next day, Couple A's realtor is feverishly contacting my realtor and attorney to let them know, that now they don't want anything, just send them the contracts. I guess at this point, they finally realized that there was indeed a second offer. Couple A chose to take their time on inspection and make ridiculous demands which ended up losing the house for them.

    At that point Couple A was told that if Couple B doesn't sign the contract, we would consider their offer as a backup. Couple A was disappointed, but said they still want the house and to let them know if the contract falls through. Couple A at that point said, and by the way, we would like to be reimbursed for the home inspection. What!!!! Needless to say, we declined. Whey Couple A would piss us off like that when they still wanted the house is beyond belief. Maybe they watched too much HGTV.

    So now we are in contract with Couple B. They are in love with our house and can't wait to get it. Although this is a business transaction, it makes me feel good to hear this.

    Thanks to all of you for your advice. I really appreciate it. We are hopeful that all goes smoothly with our closing.

  • 10 years ago

    Wow! Can't believe Couple A did that knowing you had another offer. Sorry but that was dumb on their part if they really wanted the house. Glad it all worked out well for you!

    Looks like the appraisal is good so leaving Monday to get the house cleaned out.

    When is your closing?

  • 10 years ago

    Looks like good things are happening to you both Barb and Nancy :-) Hope some of that "selling vibe" comes my way too real soon.

  • 10 years ago

    Me too rgrs! Ours was only 2,weeks away from the contract expiring. Any interest at.all lately?

  • 10 years ago

    Not much activity but still hoping :-/.

  • 10 years ago

    Sending good "selling vibes" to you RGRS. Good luck Nancy!

  • 9 years ago

    Just wanted to update everyone on our house sale. The couple that bought our house was so nice! We got rid of most of our furniture and most of our "stuff" through donations, throwing things out and having a yard sale. It was a lot of work to move! Everything went smoothly and we closed the beginning of October.

    After the closing we packed up a Penske truck and headed down to our condo in Naples, Florida. Unfortunately we got stuck in North Carolina for three days due to Hurricane Matthew. Long story short, we made it safe and sound to our condo.

    We are very happy in our condo. We are now officially Florida residents and even voted early! We are both starting our retirement life and very excited!

    We have started to look at single family homes here to buy. The condo is great, but we would really like a detached home with it's own pool in a gated community. I've been researching homes online and we've been going to open houses for a few years. You know I'll be asking for advice here along the way.

    There are a lot of new communities that have been built here over the past few years. It seems to us they have overbuilt and it is more of a buyers market than a sellers. We're hoping that we can get a decent deal.

    Our big decision so far is: Do we want an almost new house that's beautiful, but no view. Or do we want an amazing water view with a house that needs some fixing up. I was hoping that our days of wallpaper removal and updating kitchens and baths were done. LOL

    I think I'll start a new thread with our house hunting adventures as they happen. After dealing with a lot of crazy people in selling our house it feels good to be a buyer with the power and money. Ha ha!

  • 9 years ago

    Barb, glad to hear your deal went well. I hope your retirement years are wonderful.

  • 9 years ago

    Barb wishing you the very best with your home search and retirement! Congratulations on the home sale. It sure is a lot of work. You must be tired but relieved. I'll look for you on your new thread!

  • 9 years ago

    Thanks! Heading out today to look at some more homes!

  • 9 years ago

    Barb are you looking close to the beach, 75 or closer to Marco Island? I now there are lots of developments there. Have a lot of fun.

  • 9 years ago

    We are looking in North Naples. There are so many new developments here, but we are looking at established communities.

  • 9 years ago

    Congrats Barb. We are about 2 hours north of you.

  • 9 years ago

    BarbSun: My realtor just called and said she finally talked to the buyers
    realtor. Turns out this couple that made a cash offer with an
    "official" binder that they wanted us to sign (we did not), has to sell
    their home to get the cash to buy ours.
    Their house is not on the
    market. They are just now in the process of listing it. What
    professional realtor writes up a a cash offer, where the buyer
    doesn't have the cash and no where is it mentioned in the binder that it
    is contingent upon them selling their house? What is wrong with these
    people? FYI the buyers house is worth double of what we are asking.


    This is insane.


    Glad it all worked out for you.



  • 9 years ago

    Sorry to hear Midcentruy that is awful. I hope another buyer comes along that will be ready to buy and love your home.