House is swarmed after being listed in Raleigh for under $300k
- Thread starter Responsible Allen Iverson
- Start date
BigE214
Future GOAT
Don't do me like that. I ain't got the cash but that 325 coming + all my coli cash, fwm
Wild.
I closed on a new house in Oct. 2020. The market was HOT then, my family was expanding so we wanted a bigger house (went from 1300sq ft to 3300sq ft)
We scheduled a viewing for the house the same day it was listed. After we saw it, we knew the market was ridiculous, so you have to make a decision fast. As we were leaving the viewing, there was an older couple walking up to view it. Me and my wife were like...
"They don't need all this damn house, we trying to raise 3 kids here"
We hit up our realtor like, "Hey, we're going to write up a letter to the owners cause we really want the house"
We drafted up this heartfelt letter about how I'm from the neighborhood and want to stay, babies on the way yada yada yada. It worked and we ended up getting it literally 2 weeks before my wife went in to labor.
The house appraised for like 20/25K more than what we offered, and now a year and half later, it's valuation is like over 100K according to the AI that the mortgage company puts out there. We had to go over asking price due to timing and a pregnancy, but luckily, it was before how things are now. People getting riiiiiiiiizaped in this market.
Sound like my story lmao. The letter I typed up was the first thing the previous owner mentioned when we met him
Watch a developer with bottomless investor money beat all of them going wayyy over ask all cash close in 30 days
shyt might even end up as a bidding war between investors only with all the regular folks left in the dust.
precisely what's going on
investors are fukkin up the game.
don't believe investment companies should be allowed to buy in residential areas
Man I thought market was crazy back in 2020 when I bought my house. We looked at so many houses and lost out we found the perfect house for us and put in an offer the same day. I was even able to negotiate down to 10k off.
Raleigh not a small city breh, it’s close to the size of ATL
If anything this is why the wealthy aren’t worried.
People take their frustrations out on people in the same or slightly better position than them. How many home invasions u think gone be in mansions?
And damn this thread was a terrible read. Some of y’all argue like bytches. Matter fact y’all argue worst than bytches
for the wealthyHow am I ignorant, if you list a price for 300k, you can't sell it for 350 that's illegal you fukking moron, that's why sellers don't like listing their houses
and no real estate investors looks for housing listing on the MLS
sit your dumb ass down somewhere
I'm not responding to none of you idiots anymore you don't even know basic shyt you can google lmao
Prove it, you can't sell a house more than what it's listed price is, only below it
all you can say is I'm wrong
no facts behind it
you don't know shyt about real estate I'm done responding to you dumb ass muthafukkaz
you not worth the time and can't even absorb full game, and don't even research the topics you speak on
Texas2step
H-Town it's NOT our year
Just got 352,000 cash offer. Man im trying to be like them. Crazy how ppl got that kind of cashDon't do me like that. I ain't got the cash but that 325 coming + all my coli cash, fwm
Nope. It was actually super easy. The sellers were just inexperienced as well as their realtor.
Wow…. You are way off. Not sure if you are serious or trolling.
- Can you show us where this law is staying that you can’t sell your house for more than the list price please.
You said it is illegal to do. However, more than 40% of listed homes in Atlanta & the metro area sold for over asking price in 2021. 40% represents thousands of sales. Are you saying that all of these sellers, realtors, buyers, lenders, attorneys willingly and knowingly broke the law?
- Real Estate investors don’t search the MLS??? So what would you classify these big hedge funds and foreign investment firms as?
From a real estate investment standpoint they are dominating the market. And they are using licensed realtors in various cities to find properties…. Listed in the MLS… that fit their portfolio.
Hedgefunds are hedgefeinds, foreign investment firms are just
a real state investor, it's a person who buys and sells real estate, not an institution
No Bank is going to finance a house for a homebuyer more than the APRAISED VALUE OF THE HOME
This is what happens when you read articles on the internet and think everything read is fact
The information you read is from cash buyers who go into bidding wars over houses that go well over the asking price
you don't read the articles just the headlines that's why you're confused
You can sell the house for over the asking price. The part that you're fukking up on is the appraisal part of the process.
If someone lists a house at 300K, and someone comes along and offers 350 or 400K, after the appraisal process, if they come back and say the house is only valued at 280 or some shyt, then the seller and dealer have to go back to the drawing board and rework the deal. I'm not an expert on this, but from my understanding a bank isn't going to approve a loan for house that's significantly listed over it's actual appraisal value.
It happens but the list price has to be within a range with what it gets appraised for.
The people that are offering a fortune over the asking price are making cash offers dude.
Exactly, you can't sell a house more than the listing price, nobody is going to list a house more than the appraised value
a cash buyer can pay whatever for a house
we're talking about regular people here, how many people cashing out homes a thousand more than the asking price
lets be serious here