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/biz/ - Business & Finance

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58299416 No.58299416 [Reply] [Original]

I went to see a small house yesterday and offered 16% less than the asking price. the realtor said he would ask the owners and today he called me and said he got an OK. he also said none of the owners (inheritors) wanted anything to do with it. well, I'm now unsure of this. I could have offered much less, like a 25% cut (which would match the cash I have), and maybe they would have been ok with a lower offer. anything above that means having to loan money. the house is OK-ish, but IMO overpriced, considering how old it is and that everything has quadrupled in the last 15 years (almost tripled in real terms).
I also saw a lot of houses in the area being sold for relatively cheap (but not as cheap). they all have big plots of land, which is weird because this is a really good area for tourism (it's a few hundred meters away from the beach), so something could be driving owners to leave (insecurity maybe).

also, it seems like everyone is desperate for money. apparently people aren't buying (been folowing a few offerings). on the other hand, lots of people bought houses after COVID and those mortgages have become too expensive (mortgages are usually tied to inflation in my country). I bet there will be a crash in housing in my country (or at least in this area...). if this happens, I could easily buy houses at legal auctions and shit. yet here I am, spending all my money on a well located shit house.

I could also get a mortgage, but they are expensive as fuck right now... I'd end up paying like 30% more for the house.

what the FUCK should I do? this indecision kills me.

>> No.58299474

>>58299416
just walk away
come back with a new offer one month later

>> No.58299562

>>58299416
Anon just do what everyone else does.
People put offers on houses all the time then get the price lowered further and all you have to do as the buyer wanting out of a deal or a better deal is to just nit pick shit.
As an example, maybe you have an a/c guy come out and say the a/c system is no good-“drop the price or fix it”
>roofs
>floors
>ceiling
>etc. etc.
You can do this to drop the houses price or get out of the housing deal without paying a penalty. Never hurts to ask. Closer you are to closing the deal the more pressure you can put on the seller. Sellers get desperate towards closing.
You could also have a friend put in an offer below yours and do a whole sale to you same day they close. Last minute they drop your deal and pick up the next best offer they had.

>> No.58299617

>>58299562
it's an old house, so old that the realtor told me all the value was in the land. so I guess I don't have arguments agains that. lol.

>>58299474
yeah, I guess I should do that. the realtor himself said the owners wanted to lower the price...

>> No.58301599
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58301599

>overpay for house in 2021
>stop paying
>bank does a short sale
>offer the only bid
>gave myself a $100k discount

>> No.58301617
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58301617

>>58299416
Real estate has risen according to Truflation
We are going to a point that is unsustainable, and to think that our grandparents bought large houses at almost bargain prices, I don't know what could have happened from the 50s to now but something ((happened))

We just want a house to drop dead

>> No.58301663

>>58299416
how to get a dumb zoomette gf?

>> No.58302005

>>58299416
Her first mistake was cooking steak in oil

>> No.58302299

>>58299416
Walk away breh, this happened to me in 2016.
>find old (1917 build) house for 300k (prime area)
>pay for inspection
>owners say they will fix the stuff
>just need to see the inspection
>give it to them
>nah we're not fixing shit
I said fuck off and found a different house (1960 build) for 260k in a better location that is now worth over 700k. I still see that decrepit piece of shit rotting every day when I drive by, still for sale kek

>> No.58302670

>>58302299
I have a lot, and I mean A LOT of data I got by scraping real state listings... I've been following the local market for quite a while (though not too deep, I really need to start doing statistic analysis and automating stuff), in particular the low price ranges. EVERYTHING is overpriced as hell. people sell their old, beaten up houses as if they were made of fucking gold.
I'm getting desperate and FOMOing. I don't really want to be left from the house ownership train...
I also want to spend this money. what do I fucking do if an economic crash happens tomorrow and inflation goes through the roof again, or, worse, there are no good investment options left?

>> No.58302852

>>58302670
Lookit this fucking nerd, doing data analysis and shit.
I got a deep discount on my place by making friends with my realtors, them finding me sellers who were getting divorced (even though they're not supposed to disclose that), and massively underbidding because they just wanted out of their marriage

>> No.58303296

>>58302852
lol. yeah, I really need to talk and befriend more people, esp those who are really desperate to sell their houses...
I've had friends buy plots of land for REALLY cheap. meanwhile, I'm buying at overpriced, overinflated market price. ;_;