mmZ06 Posted October 7, 2009 Report Share Posted October 7, 2009 I have a property I would like to get sold ASAP. Here are some details: 2 Story Approx. 2000 Sqft 4 BR 2 1/2 BA 2 car garage Fenced Yard Large corner lot Canal Winchester Schools The house is a two story built in 1996 and located in Canal Winchester. It has a full basement, and a crawl space (maybe 10x10). The home has been freshly painted and has nearly 2000 sqft of living space. Great quiet neighborhood and close to route 33 for easy commute. I would be willing to sell the property for $137,900. This is a FSBO price and does not include commission to a buyers agent. Factor in the $8000 tax credit and you are getting this house for under $130K. Very good deal in a nice area. Please email me at mmorrison12@hotmail.com with any questions. Thanks, Matt http://img362.imageshack.us/img362/9485/20040412oc084145jpgmed000981dc.th.jpg Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted October 7, 2009 Report Share Posted October 7, 2009 Those pics are freakin awesome. LOL. Link to comment Share on other sites More sharing options...
evan9381 Posted October 7, 2009 Report Share Posted October 7, 2009 thats a heck of a deal. good luck Link to comment Share on other sites More sharing options...
KillJoy Posted October 7, 2009 Report Share Posted October 7, 2009 Buyers do not pay commission. Sellers do. KillJoy Link to comment Share on other sites More sharing options...
87GT Posted October 7, 2009 Report Share Posted October 7, 2009 Buyers do not pay commission. Sellers do. KillJoy Bullshit my previous Realtor was an idiot and I guess it was my fault as well but processed my offer without the seller paying the commission. I told her originally I wanted the seller to pay the commission and she said she would take care of it. I ended up paying 1.5K on top of the asking price and all the other lawyer and mortgage fees. Good luck with the sale and check your documents before signing. Link to comment Share on other sites More sharing options...
Bam Posted October 7, 2009 Report Share Posted October 7, 2009 Buyers do not typically pay commission. Sellers do. KillJoy *Fixed, you never know in this housing market, plus anything can be negotiated. Link to comment Share on other sites More sharing options...
mmZ06 Posted October 7, 2009 Author Report Share Posted October 7, 2009 Thanks for the comments guys. My business partner is a broker and can handle the transaction for both sides and the price listed above. If anyone is interested in seeing the property I can set up a walk through. The home is currently being rented therefore I was unable to get inside pics at the moment. I would like this house sold and I am willing to be creative to get the right buyer in there. At this price with current rates you would have a payment of less than $900/mo (including taxes). I've been renting this house for the last 5 years at $1185-1395 so it might be a good investment for someone going that route as well. Link to comment Share on other sites More sharing options...
John Bruh Posted October 7, 2009 Report Share Posted October 7, 2009 I've been renting this house for the last 5 years at $1185-1395 so it might be a good investment for someone going that route as well. is there a contract for the current renters. or are they getting out of the house (this is from an investment purchase idea) Link to comment Share on other sites More sharing options...
Bam Posted October 7, 2009 Report Share Posted October 7, 2009 How are you figuring less than $900/month including taxes? Because if someone only put down the minimum 3%, which would just cover their side of the commission for their agent, and you were firm on your $137,900 and got that, they would have a mortgage of $753/month, not including PMI which they would have of course because they didn't put much down. That only leaves less than $100/month for taxes, and of course property insurance. I'm just curious is property taxes are ridiculously cheap down there or what, I mean I know this is a lot of house for the money, but just didn't know how you came up with your numbers. Link to comment Share on other sites More sharing options...
mmZ06 Posted October 7, 2009 Author Report Share Posted October 7, 2009 Taxes are 2457/year ($204/mo). I based the mortgage payment on the assumption a buyer would be able to use the tax credit towards the purchase with an interest rate of 4.95%. This brings the financed portion down to $129.9K with 0 down for the buyer besides closing costs. P&I 693.37 Taxes 204.75 Total 898.12 Your right, I did not include insurance. Link to comment Share on other sites More sharing options...
Bam Posted October 7, 2009 Report Share Posted October 7, 2009 Yeah, but what about PMI because of no 20% down? And couple that with the fact that it takes around 4 months to receive the tax credit, meaning no way anyone could use it as a downpayment. Just an FYI for people, didn't want anyone to get all gung-ho and hurt your sale by wasting time. Again, seems like a sweet deal for a large house and nice garage, I'm sure you'll have no problem selling it, my house is smaller and I wouldn't sell it for close to that, lol. Link to comment Share on other sites More sharing options...
mmZ06 Posted October 7, 2009 Author Report Share Posted October 7, 2009 is there a contract for the current renters. or are they getting out of the house (this is from an investment purchase idea) There is a contract for the current renters but they are looking to move. If you wanted to rent the house you shouldn't have a problem. You should be able to pull $1250/mo plus there. I also have another property on the same street I would let go. Exact same style home with a stone front and pond view. Link to comment Share on other sites More sharing options...
wnaplay1647545503 Posted October 7, 2009 Report Share Posted October 7, 2009 No thread jack but I along with several people I know never payed PMI and none of us put anything down. Link to comment Share on other sites More sharing options...
mmZ06 Posted October 7, 2009 Author Report Share Posted October 7, 2009 Yeah, but what about PMI because of no 20% down? And couple that with the fact that it takes around 4 months to receive the tax credit, meaning no way anyone could use it as a downpayment. Just an FYI for people, didn't want anyone to get all gung-ho and hurt your sale by wasting time. Again, seems like a sweet deal for a large house and nice garage, I'm sure you'll have no problem selling it, my house is smaller and I wouldn't sell it for close to that, lol. See the second paragraph in the link below. There is a lot of options out there and rates, PMI, down payment, etc. are going to vary based on the individual. Like I said in the post above I am open to being creative with the deal and making it work for the buyer. I was throwing out a quick calculation to give people a general idea what the cost would be to purchase. Some people are more comfortable working with payments rather than purchase price so I figured I would break it down. http://www.hud.gov/news/release.cfm?content=pr09-072.cfm Link to comment Share on other sites More sharing options...
mmZ06 Posted October 7, 2009 Author Report Share Posted October 7, 2009 No thread jack but I along with several people I know never payed PMI and none of us put anything down. +1 Many ways to make a deal work. Its just a numbers game. Link to comment Share on other sites More sharing options...
Bam Posted October 7, 2009 Report Share Posted October 7, 2009 +1 Many ways to make a deal work. Its just a numbers game. Exactly, I'll stop thread shitting, but one way or another you're paying it, either in rate or closing cost, etc. Sorry to the OP, pm me if you want me to delete anything, i didn't mean to take it this far off base. You must be doing something right if you have multiple rental properties, so props to you. Link to comment Share on other sites More sharing options...
mmZ06 Posted October 7, 2009 Author Report Share Posted October 7, 2009 Exactly, I'll stop thread shitting, but one way or another you're paying it, either in rate or closing cost, etc. Sorry to the OP, pm me if you want me to delete anything, i didn't mean to take it this far off base. You must be doing something right if you have multiple rental properties, so props to you. No hard feelings, I understand where your coming from. I'm here to sell the house for a good price and I don't have any problem addressing questions or concerns. I want to help get a good person in with a good deal. Link to comment Share on other sites More sharing options...
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