How much to sell a house?

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MrSquished

Lifer
Jan 14, 2013
26,067
24,397
136
Thanks for the nice offer and congrats. We'll see if it gets closer - not sure if I need a realtor from the other posts saying to use a real estate lawyer?

You are going to use a real estate lawyer whichever way you go. Realtor or not. The lawyer will take point and hash out the contract with the buyer's lawyer. You want someone responsive, thorough and who truly has your interests at heart.
 

MrSquished

Lifer
Jan 14, 2013
26,067
24,397
136
Overall it's a tossup. I've been in deals that practically sailed themselves. I've been in deals where I had to do a bunch of work, sometimes that probably saved the deal. Call it being an expediter. Even after your lawyers execute the contract, there are potential issues arising from home inspection, appraisal and financing. And there is nobody to do the work for you but an agent at that point. I remember one deal where the condo questionnaire from the mortgage company was holding things up with one frickin question. That deal would have fell apart if I didn't help negotiate an amicable solution good for both parties. Fuck that deal wouldn't have even happened if I wasn't aggressive - as the sellers had already accepted an offer and were prepared to move forward until I said no, you will consider my offer and made sure it was just good enough without overpaying. My buyers had no fucking clue any of it even happened, just that they got the place and then the closing was slightly delayed. There are bad agents who would have failed on both points, so it goes both ways.

Good luck!
 
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Craig234

Lifer
May 1, 2006
38,548
350
126
What's a good way to get advice on whether it's better to sell a rental property or keep it? Everyone with expertise seems to have conflicts of interest.
 

zinfamous

No Lifer
Jul 12, 2006
111,892
31,410
146
What's a good way to get advice on whether it's better to sell a rental property or keep it? Everyone with expertise seems to have conflicts of interest.
I have zero expertise, but here is how I see it:

do you still have a mortgage on the place? If so, then that mortgage is going to change if you list it as a rental. So you have to keep that new expense in mind.

In the end, I think it comes down to the individual and stress/time commitment. Do you want to deal with being a landlord, risk the potential for scummy tenants, or do you relish the opportunity? I think you can eliminate much of the chaff depending on where the property is located, pricing, the services you choose to list it on. But even if you are the best judge of character, you really never know what people are until they are on their own.

Weigh the stresses over the potential monthly income for renting vs selling now and getting a big stash of money to invest or do whatever you need with it. I think one real benefit to renting is that no one really knows what value will be from neighborhood to neighborhood. Sure, you could potentially lose out on some real value, but even if the economy takes a dump on your property, you can still rent it out at relatively the same income, wait for recovery, then sell.
 

louis redfoot

Senior member
Feb 2, 2017
289
14
41
lawyers can be quacks too, if there's a buyer and seller already, i'd just take it straight to escrow