House is swarmed after being listed in Raleigh for under $300k
- Thread starter Responsible Allen Iverson
- Start date
you outchea CONFIDENTLY confusing appraisal price with list price and talking about you settled shyt.
you outchea CONFIDENTLY confusing appraisal price with list price and talking about you settled shyt.
You list the house at the appraised value, nobody is going to buy a house for more than what is worth
if you pay for more than a house is worth you're a fukking idiot
the cash bids are from corporations
for the wealthy
How in th me fukk is me pointing out the fact people in poverty take their frustrations out on everyone but the wealthy me
for the wealthy? 
HacksawJimThuggin
All Star
So after I showed you proof that I personally just bought a house for more than the list price, you went from "it's illegal and not possible" to "nobody would ever do that".
Also, your logic is still all types of flawed because you don't know the appraised value of the home at the time you're listing it. You don't know the appraised value until the home is already under contract and the Buyer, either on their own if they're paying cash (optional), or as a requirement from the bank, orders one. So your first sentence makes no sense at all.
Secondly, buying a home for more than the appraised value is VERY common in this market. In South Florida, a lot of sellers are requiring the Buyer to either a) waive the appraisal contingency all together or b) insert an above-appraised-value contingency, meaning the Buyer agrees to pay X amount of dollars over the appraised value, not to exceed the purchase price.
You didn't show me anything
Yeah it is illegal, and you could sue if you got a real estate lawyer people get taking of all the time
and you didn't show proof, what proof, a dead link
also I didn't say it wasn't possible, I said it was illegal
also once again, if you're bidding on a bank owned home that is listed, there's different than a private seller listing their home with a real state broker
When Oprah over paid for her house it was listed at the market price, it was a private sell
no bank is going to finance a house over it's appraised value we already discussed that
the fact you paid more for a house than what it's worth shows that you are a fukking idiot
beenz
Rap Guerilla
I was about to mention it being a catch 22, but yup, your profits would totally be eaten up.
my sister found out this the hard way when they sold their old crib in the city for a large profit only to have to pay over asking price for their current home in the suburbs.
HacksawJimThuggin
All Star
Dogg, I AM a real estate lawyer
Yet you're buying houses for more than what they worth
you can't make this shyt up
I'm done with you morons
HacksawJimThuggin
All Star
You're still not understanding the difference between list price and appraised value. You a special kind of dumb.
feelosofer
#ninergang
Demand>Supply
No I'm not they said it was A SELLER MARKET, and sellers were seller higher than the value
So you are agreeing with me
If Seller's are LISTING THEIR HOUSES LOWER THAN THE APPRAISED VALUE
THAN IT'S A BUYER'S MARKET
WHICH IS WHY YOU BROUGHT
THANK YOU
Yall so busy trying to prove me wrong you create narratives and run with it
but end up proving me right after you talk yourselves in circles
dumb ass idiots
The value of a house rarely decreases, yes. However the rate of appreciation can, and has, fluctuated over the years.
If historically, you have seen an asset appreciate at 4%, over the past 30 years, and then in the past year it appreciates by 18%, do you
A. Hop on in the hopes that historical data is irrelevant, and this asset will continue to appreciate at significantly higher than what we have seen in the past?
B. Anticipate that in a return to the norm, future performance will underperform other assets for a while, as market dynamics correct the aberration seen in the previous year?
If the answer is B, then if you buy this year, then you're relatively fukked if you're relying on asset appreciation over the next 30 years.
Now, if financial return doesn't matter to you, and you just want to buy, and you can afford a property easily, sure, go for it. But if you're looking to buy a house because you think house prices will continue to appreciate at current rates, and they will not level to historical appreciation rates, then...
I don't think what you've said in the bolded is what most current homebuyers are expecting unless they plan to just flip it.