Comments for Sell Then Rent

Comment on it’s not that I don’t trust my Realtor, but his suggestions to me for selling my house quick is to increase the 6% to 8% so Buyer’s agent etc will move quicker trying to sell it. I need an opinion if I should lower my sale price 5,000 and half of closing. The closing cost is a whopping 17,000 and half I would pay. Does that sound right? I sure thought closing cost would not be more than 10,000. My house has been on the market 6 weeks now and only had 2 showings. I am in this all by myself and have no eduation at all with the agent and real estate. any answers would be appreciated. Thanks, Janet by godged

godged — Tue, 22 Sep 2009 08:01:01 +0000

I wouldn’t raise the commission on his end (did he mention he gets half of that increase?), and I agree that if you are motivated that offering a buyer’s agent bonus is a more efficient way to go.

The closing costs sound high, depending on your price. Ask the title company for a break down of the closing costs. In my area, buyers bear the majority of the closing costs, unless it is negotiated in the contract that the seller is going to contribute to the closing costs.

Two showings in 6 weeks isn’t too bad, there are sure alot of worse sceanrios out there.

Good luck.

Comment on How do you decide when to rent or when to sell? by Searchlight Crusade

Searchlight Crusade — Sun, 20 Sep 2009 14:08:54 +0000

Repeat after me: Past performance is not indicative of future results!

Now there are a lot of factors that could mean your market is ripe for a resurgence. There are also factors that could mean your market is toast. There are some of each right now. My *guess*, based upon your description is that the real estate market you’re in has nothing special coming in the way of investment return - but there’s a lot of missing info that could change that. Economic outlook. urban expansion. special projects. etcetera.

From reading your question, my belief is that you already know what you’ve decided to do. I suggest you do it.

Comment on it’s not that I don’t trust my Realtor, but his suggestions to me for selling my house quick is to increase the 6% to 8% so Buyer’s agent etc will move quicker trying to sell it. I need an opinion if I should lower my sale price 5,000 and half of closing. The closing cost is a whopping 17,000 and half I would pay. Does that sound right? I sure thought closing cost would not be more than 10,000. My house has been on the market 6 weeks now and only had 2 showings. I am in this all by myself and have no eduation at all with the agent and real estate. any answers would be appreciated. Thanks, Janet by Mustbe

Mustbe — Sun, 20 Sep 2009 12:51:46 +0000

Janet that’s a chance you have to take…

One, I once thought was the most trusted they could come was a crook…he was working his way into places to get them to lower prices so the Man he worked for could buy at the end.
This is only a example…they are good and bad in every bunch.

Comment on How do you decide when to rent or when to sell? by eaglesonaperch

eaglesonaperch — Fri, 18 Sep 2009 14:33:11 +0000

You should of sold last year….not very many buyers out there now and they are waiting for you to cut the price in half. the bubble is bursting and lower mortgage rates won’t even save it this time.

Comment on it’s not that I don’t trust my Realtor, but his suggestions to me for selling my house quick is to increase the 6% to 8% so Buyer’s agent etc will move quicker trying to sell it. I need an opinion if I should lower my sale price 5,000 and half of closing. The closing cost is a whopping 17,000 and half I would pay. Does that sound right? I sure thought closing cost would not be more than 10,000. My house has been on the market 6 weeks now and only had 2 showings. I am in this all by myself and have no eduation at all with the agent and real estate. any answers would be appreciated. Thanks, Janet by Slim W

Slim W — Thu, 17 Sep 2009 16:09:34 +0000

U can' t. Werkelijk. Ik heb 3 groepen Realtors in het verleden de 2 jaar behandeld aangezien ik een flatgebouw met koopflats heb dat ik huur en ik kocht vorig jaar een huis. Het verschil tussen hen is verbazend. Krijg verwijzingen! Als iemand u en het doesn' drukt; t voelt net - ga met uw darm! Wij holden aan druk van onze Realtor uit die verondersteld was om ons flatgebouw met koopflats te huren en zij niets deden dan herinneren ons eraan dat wij aan hen werden verplicht en dat als wij op een andere optie overschakelden, wij hen geld bezaten. Zij waren vreselijke, smerige mensen.
Enerzijds, vond een andere Realtor renter voor ons alhoewel zij geen commissie ging krijgen. Zij deed het haar cliënt gelukkig maken. En gissing wat. Ik zal ALTIJD op deze persoon vertrouwen en zal haar altijd hoogst adviseren.
Verg de tijd om vragen te stellen, goede aanbevelingen en slechts het werk met die krijgen die hoge classificaties krijgen. Realtors is niet slecht. Zij zijn mensen. Soms zijn de mensen werkelijk waardeloos en zullen om het even wat doen bij uw geld te krijgen. Er is een alternatief maar het neemt een weinig meer werk om iemand te vinden wie uit voor uw beste rente zal kijken.

Comment on I have a realtor but no one has even called to see my property, should I rent it instead of sell? by MIABELLA_C

MIABELLA_C — Wed, 16 Sep 2009 09:44:55 +0000

what is the conversion rate in your market area now? in Manhattan, NYC, on average can take 2-4 months before receiving an offer. is it overpriced? what is your realtors’ strategy? What are comps in your area? Housing prices are dropping in small town USA, but not in LA, MIAMI and NYC, where people are willing and able to pay$$ for it. GL.

Comment on How do you decide when to rent or when to sell? by yums

yums — Tue, 15 Sep 2009 17:17:51 +0000

read tips on real estate, investing and renting on this site

Comment on it’s not that I don’t trust my Realtor, but his suggestions to me for selling my house quick is to increase the 6% to 8% so Buyer’s agent etc will move quicker trying to sell it. I need an opinion if I should lower my sale price 5,000 and half of closing. The closing cost is a whopping 17,000 and half I would pay. Does that sound right? I sure thought closing cost would not be more than 10,000. My house has been on the market 6 weeks now and only had 2 showings. I am in this all by myself and have no eduation at all with the agent and real estate. any answers would be appreciated. Thanks, Janet by satarnag

satarnag — Tue, 15 Sep 2009 02:44:55 +0000

What an agent does is that he gets 8% and offers 4% of that 8% to the buyer’s agent. So your agent gets 4% and the buyer’s agent gets 4%. If I were you, try to negotiate a 5% (or 6%) commission where your agent gets 1% and the rest goes to the buyer’s agent. If he wants to get 5% then let him earn it by finding a buyer himself. I also like Bostonian’s idea of the 6% where your agent gets 2% and 4% goes to the buyer’s agent.

In regards to closing cost, I suggest you offer to pay up to 2% of the sales price towards the buyer’s closing cost. So if your home sells for 500k, then offer to pay up to 10k in closing. This will attract home buyers and is a better alternative than lowering the asking price.

Between offering the buyer’s agent more commission and offering to pay the buyer’s closing cost, you will have a better chance of selling your home than the normal market. I have sold homes this way even though my home was listed more than the competition. Never underestimate the greed of real estate agents.

Good Luck

Comment on i am looking to sell my house and rent it back by charterman

charterman — Tue, 15 Sep 2009 01:08:21 +0000

The best word I can use to describe these schemes is con. You sell them your house for 75% of its true value, you then rent it back at a nominal rent for 6 months. After that it goes to full market rent, average being £500 a month.
The money they gave you to buy it won’t last long and then they will and do evict.
In the end you will have sold your house to them for a loss and paid them back the money they gave you for it!.
They are the ones laughing all the way to bank, you’ll be lucky to end up in Bed and Breakfast accommodation.
If you are having difficulties meeting your mortgage payments now, contact your lender and ask for advice.
Also contact the CAB and other debt charities along with Shelter. Just DO NOT sell your house to a rent back company.

Comment on I have a realtor but no one has even called to see my property, should I rent it instead of sell? by Learner

Learner — Mon, 14 Sep 2009 05:48:17 +0000

My Realtor friends and the news media in California tells me that housing prices has been dropping all around the Country.
You should check with your Realtor and ask him to show you comparable sales in your area.
I assume your Realtor has access to “Multiple Listing sites”
and can look it up for you.
If you are “overpriced” then you have to make a painful decision;
Do you want hang on your property and lose the difference between your payments and rents you can get for a while,
Or sell it for a price to attract buyers, and wash your hands off.
It all depends on your current financial situation.

Learner