So, Real Estate Agents/Real Estate Wise...what's up?

[Mr. Kotter]

Long-story short...we just bid on a 5 BR, 3 Bath...'2-step-up' ranch...with a "contingency" to sell our own (great location, 4 BR, 2 Bath BUT 1 car garage as the major 'issue')...by April 1 (conveniently dated 30 days before Obama's free 'next buyer' money "expires")

They countered our initial offer....with a $1,500 increase; but offered to pay half of radon-depletion if it shows up on either of the inspections we are paying for. So they agreed to the 90+ day contingency.

Is this a "good" sign....or indifferent sign, as far as us "getting" the house?

FWIW, I'm prepared to walk-away, and die in our current home; my wife, and especially the kids....less so. Thoughts???

[Cannibal]

Good luck selling your house and getting the new one. In this economy, I am holding still for a while.

[CaliforniaChief]

It's still so tenuous out there in terms of moving homes. Out here (which is obviously a much different market), there's a healthy number of buyers and a rapidly decreasing inventory. What should work in your favor is that you aren't a bank holding on to a foreclosure. There still aren't many legitimate non-bank-held properties available for buyers.

What hurts you in your selling prospects is that the odds are very high of getting into a contract with a buyer only to have the deal fall through because they won't be able to get underwriting on the loan.

I would just say that it's not necessarily the highest priced offer you should accept but the one who is putting the most money down and, therefore, the most likely to qualify for underwriting on a loan.

Just my thoughts and perspective.

[Phobia]

We're not seeing many contingency-laden deals going through down here.

[Bugeater]

Do you really need the extra bed/bath? Heck just the realtor's commission alone would probably pay for more than half of the cost of adding another garage stall to your current home if that's your only issue with it.

[Rain Man]

Do you really need the extra bed/bath? Heck just the realtor's commission alone would probably pay for more than half of the cost of adding another garage stall to your current home if that's your only issue with it.


Depending on the market he's in, this is a good point. What would it cost to add a bedroom and a bath? $30,000? $40,000?

If the house is worth $200,000 as a general ballpark, the Realtor fees would be something like $10,000 to $14,000, and then even if you move yourself (no fun), it'll cost you another $1,000 or so. If you get movers it'll be a fair bit more.

So it may cost you more to build, but that'll pretty much be all equity as opposed to buying a 2006 Mercury Marquis for a Realtor.

[Rain Man]

Or alternately, you could put the child you love least in a small apartment somewhere. At $600 per month, you could put them there for two years for the amount you'd spend on the sale.

Or if you love them all equally, give them an extra allowance that's equivalent to half the cost of the move (annualized) and tell them that it's their overcrowding allowance.

[Mr. Kotter]

We're not seeing many contingency-laden deals going through down here.

They accepted....we live in a highly desirable location for our city, and in the most sought-after price range. Just damn-it-to-hell with the "single-garage" seems to be our major drawback.

Do you really need the extra bed/bath? Heck just the realtor's commission alone would probably pay for more than half of the cost of adding another garage stall to your current home if that's your only issue with it.

We are moving up 30% in "house"....with the same payment as we currently have, due to interest rates and incentives.

:shrug: