Post # 1
I am so excited and just feel like I need to shout it from the rooftops!
I listed my condo for sale yesterday at a price about 10% higher than what the realtors I had interviewed suggested (one, who I didn’t go with because of location, did suggest this higher price).
Today, I got an offer from a CASH BUYER that can close by December 27th. They definitely lowballed me (87% of listing pricing), but I’m going to counter at about 92% tomorrow. Honestly though, I’m not going to lose this deal over a few thousand dollars – I am confident we can come to an agreement. Getting it OUT of my hair, having no more mortgage/HOA payments, not having to have an appraisal and hold our breaths on that… all very much worth it.
I feel like jumping up and down! I need to use this energy for something good!
By the way – the condo is NOT in a hot market or anything! Everyone has been warning me how crappy the market is. And there are some drawbacks to my condo. But I made sure the photos were amazing, everything was meticulously cleaned and staged, and looked for an aggressive realtor.
Hope anyone else out there trying to sell has some good luck!!!!
Post # 3
YES! congrats, how very exciting!!
Post # 4
Did they not have an appraisal contingency? All cash buyers are about 45% of buyers here right now, but a lot still ask for appraisals. Congrats on the offer, though! That’s so great!!
Post # 5
@crayfish: No appraisal contingency that I can find in the offer.
Post # 6
Congratulations! You can’t beat a cash deal with no appraisal. I own a real estate franchise and had a condo listed that had multiple offers in one day and the cash deal won. It was also priced higher than previous sales but had a number of pluses over other units in the complex. It was helpful for the entire complex’s values since the higher price this one got can used as a comp for others, yet we didn’t have to worry about appraising.
Post # 7
That is great!
My parents did the same thing thing summer, had a number in mind, met with realtors, and listed FSBO at about 20K more. They had an offer in 24 hours! It wasn’t a cash buy but it wasn’t contingent on any other sale either.
I agree, its great to just get it off your hands!
Post # 8
@NAvery: OMG, congrats!! How exciting 🙂 I, too, got an offer on my condo this weekend, which has on the market for 4 months. I never thought it would budge ‘so quickly’ in this market. I can only imagine how you must be feeling!!
Sadly, I am taking a loss, but as I see it I will make up that money quickly since i will not be paying a mortgagte/main. fee every month, in a condo I barely live in (moved in with SO). Pending no issues with inspection, I have to be out in early January.
I will send you luck on a quick process, and an easy transition!
Post # 9
Thanks all. We have a signed contract at 91% of asking price, no appraisal, inspection is tomorrow morning. I ended up throwing in some of my furniture, which is not a big deal since FI and I are combining households anyway and I bought everything on Craigslist/Ikea/Auction. Stuff can be replaced – a cash offer is hard to replace!!
Closing should be sometime between the 17th and 27th.
Post # 10
Wow, that’s quick…so awesome! And even moreso that it was a cash buyer!