…And each one is one less property against which you’re competing, and substantiation for a strong appraisal when yours goes under contract.
There are 61 photos in the virtual tour, including baths and bedrooms. And much more.
coralbrook, this makes me nervous. I’m concerned that your ideas on the kitchenette are more realistic than a buyer will like. (In other words, you’ll tell them [honestly] that they won’t be able to do what they want, and that means they won’t buy your house.) Can’t your agent handle this for you??
I agree with what VeryHappy said.
“That’s something you will need to work out with your contractor.”
I know, need to make a decision about how to handle it.
We have a new set of buyers in the mix. My agent got another phone call today from an agent who says that his clients saw the house, but he has not been in it yet. They have decided they want the house but they are talking to their lender to review loan options. I find this odd… they must have come through during an Open House weeks ago??? and now are suddenly interested in the house??? Agent called to see if we had any other offers.
The first set of interested buyers that had come through 3 times have made an offer on a downtown condo, so they are out
I like TempeMom’s response…if they just want to meet you to see who did the flip, that’s fine. But you are not their contractor, and you don’t want to get involved in what they can and cannot do.
Yes, I’d be VERY cautious about what you say to any buyers–you don’t want to get into a “he said/she said” issue and you don’t want to dash their ideas about what they may want to do with the lower level living space. I’m sure the right buyers are going to be contacting your agent–SOON!
Cb, that is not odd. This is how we found our 2 houses - peeked as lookie-lous and couple of weeks later decided that the homes were what we wanted, which triggered a search for a realtor to handle the deal because we were too busy to do it pro se.
Most folks can’t casually decide they will be spending 7 figures on a house. It took H & me many years to decide which house we really wanted and what area we really wanted to live in. We looked off and on for many years, so you may have buyers who are like us. When we finally decided for sure what we wanted, we put in a bit subject to inspection because we couldn’t even VIEW the house until after we made the offer (it was for list price). We had no trouble qualifying for our loan and the sale went uneventfully.
cb, regarding the buyer coming back to look at the downstairs with an eye to a kitchenette –
In your desire to be helpful, you might say something that’s going to get you too involved. You are done with the house. You’re not going to make changes for a buyer. You’re not even going to make suggestions for a buyer.
CB - We sold our house this summer - and the buyers were a couple that had been through the house on an open house weeks earlier. They had to line up their financing and then came back with their agent. So exactly the same situation.
Actually one minor variation I had forgotten about - the agent had been through our house earlier - when we interviewed her as a prospective agent for us to use. I heard via our agent she was not happy that she didn’t get the listing.
Another call last night from the agent who is representing the Open House couple. Several more questions about the house, including whether I am installing a shower door in the hall bathroom. So, this is good, they are going through the details.
Yay!! Good luck!!
You are all correct, this is not a ‘first time homebuyer’ property. Someone purchasing this property is going to be analyzing the exact financial situation, figuring all the costs (including property tax), etc. They are not going to just jump on something emotionally and then figure out how they are going to pay for it later.
cb, of course it ain’t over 'til it’s over, but I’m wondering which is a better project for you – a house you can improve to the million-dollar level, or one that is less grand and may sell at, say, $750K?
You never know . . . I could see a married couple of two young lawyers working at a big firm and making $160K each, a couple of years out of law school, buying that place as first-time homebuyers.
Or a successful tradesperson. My hairdresser, for example, is a first-time homebuyer looking at properties in the $900K range in LA. She’s been saving for a long time and makes a good living.
There are endless other hypothetical first-time homebuyers who might be interested in the property. I think it is hard to generalize.
After this try into the high end, I am definitely going to back off to a more reasonable project. The problem is that I really need to try to stay very close in my neighborhood right now. All homes in this area are ridiculously priced. It’s really hard to find something in the mid range that has room to fix up and sell at any kind of profit. I’m even willing to make less, if I can find something that is a cosmetic fixer with a lot less risk than the messes I usually buy.
I have received a written offer from the last group who saw it at an Open House. They have recently sold a 10,000 sq ft home and want to buy a vacation home close to the beach for family. All cash, but low offer. My agent and I are going to strategize tomorrow.
congrats!!!