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Updated over 5 years ago,
Am I underselling my house?
Background:
- our house is surrounded by $550,000-$650,000 houses
- house does not have a foundation, it's a brick and mortar
- house is a fixer upper: needs plumbing, electrical, roof, and more.
- it's a 1,200 sqft duplex, 3 bed, 2 bath, has a big attic, 2 garages.
- Location in a neighborhood that's going through gentrification and close to downtown L.A.
- family wants to move to a better neighborhood
- private investor offered $450,000 with no verbal deadline
- our next house is going to be around $550,000 +/- $50,000.
- house is not listed anywhere, not on the MLS or anything
- we are currently looking at houses
Problem/Question/opinion
- do we just take this offer because it's close enough and we don't miss out on this deal or do we post online and try to get other investors to make some offers?
- what would you do in this situation?