All Forum Posts by: Account Closed

I'm hoping that the good people of BP can help me come to my senses:

Just made an offer for a 2 bed 1 bath condo in Canton, MI. Offered full asking price of 154K. 

When I looked at the comps I was shocked to see that the listings that closed in the last few months have been leaping in the closing prices - in February high 130', Low 140's in the beginning of April, high 140's end of April. The last condo of the exact same floor plan closed about 2 weeks ago at 144. After speaking to the agent who is familiar with the local market (I am out of state) she recommended offering full asking price. Said that given how hot the market is all the seller needs to do is wait for 2 weeks and they'll get it, if not more.

I did go ahead and make the full price all-cash offer which will probably be accepted. But can't help getting jittery with this crazy market which keeps on leaping ahead at a crazy fast pace... What do you all say? Should I stick with it or pull out and try to negotiate?

PS this property would be a primary residence for me for about a year or so, after which I'm planning to likely rent it out. I do need a place to live there asap so getting a bit desperate however don't want to make bad emotional decisions, hence I'm here asking for advice :)

Conventional loans are not allowed to finance property purchases in this community, hence "cash only". Probably because of a high number of rental properties.

Conventional loans are not allowed to finance property purchases in this community, hence "cash only". Probably because of a high number of rental properties.

Tenants can pay however they like.

I have a condo (bought for 80K, now worth about 115K) which is in a cash only association (so obviously I own it free and clear). It has been my residence but I purchased another property so considering whether I should rent this one out (1050/mo) or sell it to free up the cash. Thoughts?

I purchased a condo 2 years ago for 50K. My daugter has been living there ever since (so 2 year residency requirement has been met)

Now the property is worth about 70K. I would like to transfer the title to my daughter so that she can sell it and keep the money. What would be her cost basis? Would she be able to use the 2 year primary residence rule?

It's a 210000 house and only 1200 a month in rent. I would really like to put it on the market asap.

What if I offered them one month rent plus deposit? 

so I would have to pay them almost 8000$ to move out? I don't think I can bite that financially...

Thank you for all the replies – very helpful. Unfortunately it is not a good clash flowing property since it was my very first purchase (learning from my mistakes). Current rent is $1200. What would be an adequate amount to offer them in cash for keys? 

Hi all,

I am currently renting out a house (sfr) in Boise. The lease expires in about 6 moths. Life happens, and I need to put it on the market ASAP. The tenants are not cooperating (not returning agent's calls, insisting that they are planning to stay in the house until the end of the lease)

What are my options at this point?

Hi everyone, a newbie here.

I am looking at a SFH with bamboo landscaping in the backyard. It looks beautiful and shoots up to the second floor covering the master bedroom windows which provides a much needed privacy from the neighbors who's lot is very close by. However I've been doing research on it and it sounds like bamboo is actually a weed and can be I'm nightmare to deal with. Has anybody had any experience with bamboo? The house is located in Phoenix metro.

 I am worried that I will have to get rid of bamboo which is one of the most attractive features of this house. Besides according to my research it can be a pain to get rid of. I would appreciate any advice!