I have a few questions about selling my house, as its my first time. We are selling independently through a local website that does a lot of house sales. We prefer to do our diligence and pocket the savings, hoping for the best. We'll need it to buy in BC. I won't be able to sell my customer base to anyone here, I don't think. My landscaping friend can't do the skilled jobs I do, so my referrals to him would be limited. Probably have to scrap the whole thing 3 years in. Start a new business for the 3rd time out west. This racist town ran my wife out of town. I've been pretty depressed, pissed off at the ignorance of this place, separating me from my daughter. We will switch from every other weekend with her to a few weeks in the summer. She was pretty hurt about it, but she's being supportive, so that's helped ease the guilt over leaving.
The market we're selling in is on fire right now. The mortgage consultant at the bank, the painters, the realty company guy, everyone is saying prices are sky high, frequent bidding wars, etc. Given all of these factors, I want to see a high payout on my investment. The appraisal came in today lower than we want. I want 12.5% more than our appraisal, ideally, as we're only up 6.7% on what we paid over 5 years. We heard that if the buyer goes in at a price thats too high above what the bank appraises it at, they could obstruct the deal in some way, perhaps demanding the difference up front. But maybe in a seller's market I could find that type of buyer. Should I be concerned with going too high above appraisal if I list at 8.7% above and it sells for my desired 12.7% above? Would that be beyond the scope of a bank letting it go through?
Any guidance would be greatly appreciated. Counseling also welcome. Thanks all.
The market we're selling in is on fire right now. The mortgage consultant at the bank, the painters, the realty company guy, everyone is saying prices are sky high, frequent bidding wars, etc. Given all of these factors, I want to see a high payout on my investment. The appraisal came in today lower than we want. I want 12.5% more than our appraisal, ideally, as we're only up 6.7% on what we paid over 5 years. We heard that if the buyer goes in at a price thats too high above what the bank appraises it at, they could obstruct the deal in some way, perhaps demanding the difference up front. But maybe in a seller's market I could find that type of buyer. Should I be concerned with going too high above appraisal if I list at 8.7% above and it sells for my desired 12.7% above? Would that be beyond the scope of a bank letting it go through?
Any guidance would be greatly appreciated. Counseling also welcome. Thanks all.
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