Real cost to sell a house

[Ruffdaddy]

That's all on the buyer, not seller.

I fully agree with this. I mentioned it previously but he seemed intent on deducting it from the initial value assessment that will determine the buyout price. That's actually one of the reasons I made the ASSumption that he was trying to lowball BIL.

[jewozzy]

I fully agree with this. I mentioned it previously but he seemed intent on deducting it from the initial value assessment that will determine the buyout price. That's actually one of the reasons I made the ASSumption that he was trying to lowball BIL.

I'm not trying to lowball him. He doesn't want any part of doing anything to up the value. He actually wants to just sell it to an investor but I don't want to want to go that route at all since that would lower the value significantly. I'm willing to offer him 50% of what profit would be at its current value and then us do whatever we want with it.

But this isn't beneficial for us if redoing the bathroom doesn't bring additional value.

[bcoop]

He actually wants to just sell it to an investor but I don't want to want to go that route at all since that would lower the value significantly.

Most wholesalers are going to offer right around 70 cents on the dollar. You do have some leverage here. The smart ones are going to turn around and seller finance it so they 1) are buying at a discount and 2) making interest on the life of the loan. Other methods are simply flipping as is, fix and flip, or loading it with a renter and holding, or loading with a renter and selling as a turnkey rental property.

If YOU buy him out, you can do any of those things posted above, and there is money to be made in doing so (I personally wouldn't fix and flip though) . There is more money in seller finance, but you'd be cashflowing if you kept as a rental yourself. Capitalize on these fucking CA transplants, you're in a prime position to do so.

If he is willing to sell to an investor/wholesaler, why don't YOU offer him $.35 on the dollar for his half? You're stepping over dollars to pick up dimes with your original mindset in the OP. Take that for what it's worth. If you have an IRA, you could also buy the property under the IRA, and cashflow all the profits in to your IRA and enjoy the tax benefits. Don't pay the bank, be the bank.

If you guys end up going the wholesaler route, let me know. I've got a guy that would be more than happy to take it off your hands.

[lincolnboy]

All I know is if I wasn't held back I would call my realtors broker and tell them I'm filing a complaint against their agent. And go on google and write a bad review on the contractor she hired to work on how house. Shitting way to sell a house. Rant done for now

[jewozzy]

All I know is if I wasn't held back I would call my realtors broker and tell them I'm filing a complaint against their agent. And go on google and write a bad review on the contractor she hired to work on how house. Shitting way to sell a house. Rant done for now

Wut?

[lincolnboy]

Just throwing in a house selling rent I just went thru.