Current Events > I accepted an offer on my house just hours after it hit the market

(+) Yeah! (+)

Housing market is crazy seller-friendly here. House went live at around 1pm and by 7pm I had an offer that was $5k over the list price with no ask for an inspection.

Hopefully their financing holds up....

Too fast

BignutzisBack posted...

Too fast

Who are you, my wife?

Housing is broken.

Taking the first offer smart.

divot1338 posted...

Taking the first offer smart.

There were seven showings and we got two offers. The other one was trash.

An offer with no ask for an inspection is huge. You never know what that might turn up

Is it an actual family that wants to move in, or is it just an equity manager looking to diversify their portfolio? I find it very suspect that they want no inspection.

How much?

Alucard188 posted...

Is it an actual family that wants to move in, or is it just an equity manager looking to diversify their portfolio? I find it very suspect that they want no inspection.

100% the latter

Alucard188 posted...

or is it just an equity manager looking to diversify their portfolio?

And what if it is?

Alucard188 posted...

Is it an actual family that wants to move in, or is it just an equity manager looking to diversify their portfolio? I find it very suspect that they want no inspection.

I can't imagine a family throwing money at a house without an inspection. TC probably could have gotten way more than that offer.

Billyionaire posted...

And what if it is?

Then it's another house that's not going towards supporting a family that could use it. I'm not telling TC what he should or shouldn't do with his money or his property. But In a housing crisis, and inflation the way it is, selling to somebody who is just going to try and turn it into a profit themselves is very short-sighted, to say the least.

No inspection is crazy.

Alucard188 posted...

Then it's another house that's not going towards supporting a family that could use it. I'm not telling TC what he should or shouldn't do with his money or his property. But In a housing crisis, and inflation the way it is, selling to somebody who is just going to try and turn it into a profit themselves is very short-sighted, to say the least.

Alucard188 posted...

Then it's another house that's not going towards supporting a family that could use it. I'm not telling TC what he should or shouldn't do with his money or his property. But In a housing crisis, and inflation the way it is, selling to somebody who is just going to try and turn it into a profit themselves is very short-sighted, to say the least.

It's none of my business who the buyer is or why they're buying it. You don't ask those questions in real estate. The thought never crossed my mind.

Congratulations! I just had an appraisal done on mine nd it came back at $157k on a property I bought 3 years ago for $36k so we're going to sell next year

Alucard188 posted...

Then it's another house that's not going towards supporting a family that could use it. I'm not telling TC what he should or shouldn't do with his money or his property. But In a housing crisis, and inflation the way it is, selling to somebody who is just going to try and turn it into a profit themselves is very short-sighted, to say the least.

tc only cares about things to the extent that it effects him and his immediate family

definition of fuck you, got mine

you arent getting thru to him

CE sure is a beacon of morality huh

That's okay. I bought my house for 160k which was appraisal price but was 20k over what the seller was asking for plus I declined inspection.

Damn_Underscore posted...

CE sure is a beacon of morality huh

u gonna have a problem every time people here dont suck a TC's dick or what

is this what youve decided to do instead of developing a personality

VeggetaX posted...

That's okay. I bought my house for 160k which was appraisal price but was 20k over what the seller was asking for plus I declined inspection.

That seems like a really bad idea tbh

I mean I get it if you really like the look of the house or the location, etc. but still that seems incredibly risky

#shelter

Dungeater posted...

tc only cares about things to the extent that it effects him and his immediate family

definition of fuck you, got mine

you arent getting thru to him

Damn_Underscore posted...

TIL selling your hard earned property for what people are willing to pay/FMV make you a terrible person. Tell us you've never bought a home or sold anything of value without telling us you've never bought a home or sold anything of value.

Damn_Underscore posted...

That seems like a really bad idea tbh

I mean I get it if you really like the look of the house or the location, etc. but still that seems incredibly risky

I have been working with my realtor for over a year before buying my current house. I found lesser homes for higher prices, much higher prices and even offered over the asking prices. I've made offers to multiple 200k homes that's not even close as good as my current home and got out-bidded. I consider myself lucky as fuck to get my colonial home.

VeggetaX posted...

I have been working with my realtor for over a year before buying my current house. I found lesser homes for higher prices, much higher prices and even offered over the asking prices. I've made offers to multiple 200k homes that's not even close as good as my current home and got out-bidded. I consider myself lucky as fuck to get my colonial home.

Im glad it worked out but I still cant imagine doing that myself. When you said colonial home I understood even more, nice

Thud posted...

TIL selling your hard earned property for what people are willing to pay/FMV make you a terrible person. Tell us you've never bought a home or sold anything of value without telling us you've never bought a home or sold anything of value.

I wasnt talking about TC

Damn_Underscore posted...

I wasnt talking about TC

Then I apologize and withdraw my statement directed at you. Hard to tell sometimes

Grats TC.

Dungeater posted...

u gonna have a problem every time people here dont suck a TC's dick or what

is this what youve decided to do instead of developing a personality

You clearly have no idea how the world works.

In 2019 I sold my previous house.

Went on the market on the Monday, 2 couples came to see it on Wednesday night, and one of the couples put in an offer for the full asking price on the Saturday.

I was happy with that.

Yep. There's no reason to field a bunch of offers if someone offers more than you asked and has no inspection.

Easy breezy

Yeah if you're selling then you are gonna do great

If somebody offers you above asking price early, you take it. The longer a house is on the market, the more the value falls. Real estate is one thing where it's typically not worth it to wait, unless you are regularly being offered below asking price. If you're being offered below, it could be worth it to wait in case the market changes and you can get more later. If you get offered above asking price quickly, though, you take it, because the chances of the value falling are much higher than the chances of the value increasing.

Ha, we paid $60K over asking and waived the inspection...

Very nice. If youre in a good area it might just be people not really trying to wait and just want to move in. Houses in my area dont even really hit the market, its pretty wild.

That's awesome. Hope you got a ridiculous deal over what you paid initially.

Housing seems like the one thing you can buy that will absolutely appreciate in value. Nearly everything else depreciates over time.

Its the same here and I assume many places. Places are priced much higher than they used to be, and still get scooped up pretty fast.

For the vast majority, selling a house is something people do because they need to, for whatever reason.

You cannot afford to mess around, vetting buyers to make sure they comply with your moral code. That way you are risking things falling through for you and your family.

TC is living in the real world, not one of hypotheticals, where you can smugly imagine yourself always doing the noble thing, and then wait for people to congratulate you on your moral role-playing.

Congratulations on the sale, TC.

And people wonder why more houses aren't being built.

Alucard188 posted...

Then it's another house that's not going towards supporting a family that could use it. I'm not telling TC what he should or shouldn't do with his money or his property. But In a housing crisis, and inflation the way it is, selling to somebody who is just going to try and turn it into a profit themselves is very short-sighted, to say the least.

I just noticed this gem.

Wtf kind of attitude is this? How old are you?

When I bought my house I offered at asking price and it was accepted immediately. This was before the market blew up. Before inspection but you can get that done before finalization

LeoRavus posted...

I can't imagine a family throwing money at a house without an inspection. TC probably could have gotten way more than that offer.

Uh, this absolutely happens in hot markets

lots of people waiving inspections in my area right now

I bought my house without an inspection and I'm not trying to spin it to sell it. You guys are just way into your fake progressive bullshit right now.

DarkDoc posted...

I just noticed this gem.

Wtf kind of attitude is this? How old are you?

It's bizarre. Many people on CE think profit makes you a monster and anything short of giving your property away to "the needy" means you're a terrible person.

These people typically have never owned a home or anything of any real value

If you find a dream house that you really want you risk losing it by waiting for an inspection because with the market right now people will swoop in and outbid you and leave you high and dry. Youre not buying it blind, you should be able to judge at showing how critical any issues with the house are.

TheGoldenEel posted...

lots of people waiving inspections in my area right now

Yep. The people who thinks this is crazy is prolly way out of the game. Just people talking from the outside who thinks they know their shit. CE in a nutshell.

VeggetaX posted...

Yep. The people who thinks this is crazy is prolly way out of the game. Just people talking from the outside who thinks they know their shit. CE in a nutshell.

Do US mortgage lenders insist on an inspection?

They do in the UK.

Im
Euripides posted...

There were seven showings and we got two offers. The other one was trash.

An offer with no ask for an inspection is huge. You never know what that might turn up

thats fucked up inspections should be mandatory

Thud posted...

It's bizarre. Many people on CE think profit makes you a monster and anything short of giving your property away to "the needy" means you're a terrible person.

These people typically have never owned a home or anything of any real value

This and just fake progressives who is trying their hardest to look ethically and morally righteous on a dying video game websight.

ai123 posted...

Do US mortgage lenders insist on an inspection?

They lean towards whatever helps them approve their loans to the customers. Right now declining an inspection helps buyers win the bid so that's what lenders are leaning towards I imagine. My realtor at the time told me if I wanted my house it's much better if I declined inspection which I did and got it.