All Forum Posts by: Edward R.

Hi! So I always wanted to see what its like selling on your own (I know crazy) But I have the time, great property and neighborhood, some common sense and like all of us here I enjoy real estate and especially foreclosure buys (been through 4 already) I'm listing the property as FSBO, doing the flatfee MLS Midweek and of course Buyers Realtor fee-friendly. I fully expect 90% interest offer will likely have a realtor. Word of mouth with signage and FB mentions already bringing some inquiries.

Anyways, My question is this; probing questions, how do you politely ask "are you preapproved or have proof of funds"?   and what are some of the other good responses to have to chats/emails?  

I fully expect this house to get a ton of attention, a nicely remodeled, area is hot & no homes in the neighborhood because all the other got bids in 3 days. I'm priced at the upperend of like homes that sold.  I did pro photos to and she shoots and the photographer (works with 100+ realtors) kindly added me to her website/FB so I know that'll get alot of interest and the phots will too.

Agree on that. I like vetting; I've done very well with tenants at my other property so I have a bit of a knack there. But yes, I don't need to waste time with people not having pre-approval or proof of funds. Even though FSBO draws less ready crowd than a MLS crowd (remember, hot market here) I certainly don't want contingencies that could fall apart and if they have another home to sell it would have to be on the market before I signed a contract. There are ALOT of deals happening as cash offers in this area too so that's always what you hope for and being that it's a ranch, it draws the attention of retirees; who tend to have easy access to funds. I feel I could handle it and if not my friend (the RE Broker would step in to assist or take over and list it)

So true. I know the pricing and market pretty well in this area; just one of things I guess. Disclosures I've already gotten done and Covid always an issue which why my market is very very hot. Homes get 15-30 walk thrus first weekend and multiple high offers within days. Covid has cut the already hot market in half (meaning inventory) my friend is a broker do I always have him on standby. We have a difference on pricing of "flips" (I was right with the last one). But he said go for it but that he's always ready if I needed it listed. He made the comment you lose some inters with that coming outta the gate as a FSBO would.

My remodel flip (took my time) is almost set for sale.  I'ts in a good school district and neighborhood that is VERY well liked.  Most homes sell within a week, 2 at the most.  My whole intention last fall was to sell on my own instead of listing with Realtor Broker (and friend) and I wanted to experience whta it was like.  I'm having the pictures done in 10days or so and creating a simple website.  Plus I';ve has local interest from neighbors and showed it twice with the understanding I plan on listing it for sale soon.  (sorry longwinded).  ALSO House location gets alot of visibility, people will easily know its for sale

My questions..  Selling it on my own will still be in the higher range for homes that have had sold nearby (it's definitely justified) buy going with the realtor I have the opportunity for much more interest and possibly bidding war;  buy if I sell on my own and 2 weeks later list with realtor, do I lose on that initial luster of a listing? currently only 5 similar type homes in this range (and this is the nicer one)

I'm listing the house on my own for $173K With Realtor I'd like do $177K(hoping to get a higher bid)

I’m a LL for only two whole house properties.  I have great tenants and high value properties so I’m lucky.  What scares me about this proposition is not the fact tenants can choose not to pay, and I don’t care if Govt subsidizes and pays the rent but the mere fact Govt takes away your rights to control YOUR property.   Really feel for LL about to get screwed!  So unfair 

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I plan on avoiding realtor just because the house will sell itself, its a real sought after area and the people who stopped at the house  (and my lawn crew) have mostly been local neighborhood people who've been there for a generation or two and have friends looking to be in the neighborhood.  In all likelyhood; I bet it'll be a cash deal based on many other sales that my realtor broker friend has been telling me.  I just didn't want to put a number out yet.  I have about 5 people on the list and they really didn't ask for a $#.  ArV was 260k

Hi everyone.  I'm almost finished with my long remodel on a small house ranch.  Great area and hot market (still despite everything)  there are only 6 homes for sale in my school district.  I've already had multiple people over the months show (strong) interest.  And just another today FB messaged me and question "how much are you asking.

I plan on having it ready end of May.  So I get asked "How much are you asking"    So how would you respond; something like "  Mid to high 200's  or more narrowed?  

I live and have two properties in NY ( far away from nyc).  I’m fortunate cause I have specific rentals and good income tenants.  AnywAys, this Cuomo is crazy doing what he’s doing.   I KNEW he’d extend this.   I don’t see how he gets away with changing contract law.   If I were a LL with multiple properties and with low-middle working income I’d be very anxious.  Section 8 the only way to go or higher end rentals (even those will have issues)

Well I'm glad you made the time to write that post!

obviously not reading enough - the  UP TO $10k advance is 3 days from when a rep calls you (if needed) and then pushes application into distribution stage. It’s not 3 days from  when you hit the send button.    People need to stop for a reality check; when loan is pushed it’ll have a predetermined  estimated amount of loan.  It could only be a $5k loan or $50k.   Your advance is BASED Alden on employees> 1 employee $1k 10 employees $10k.

Nobody has received advance on this forum, some have received notification of call spot and I think 1 or two had the application pushed forward. 

AGAIN: sba is not freely handing out $10k to people who operate a lemonade stand. You need a justified real business with provable income and hoods fold and basic business structure!