Hi--would love advice! We bought a 1/1 condo that my husband completely renovated mostly on his own (my husband is a contractor w/ a background in architecture). We just bought a multifamily off market and got a pretty great deal for my area (Miami) and are planning to now rehab this property, live in it while fixing and eventually airbnb. Because we just bought a new property we are eager to sell the condo and we were in the process of talking with a realtor to put it on the market. However, yesterday through just talking with a friend who had a friend that was looking, we got got a cash offer same day for 5K over what we thought we wanted to list it for. Their realtor agreed at a 3% commission total since we would be doing it without our realtor (we haven't signed a listing contract)- and it would be great to save the other 3% (about 7-8k). They are also willing to continue paying the monthly assessment fees (which sellers usually pay at closing-about 15k).We tried negotiating asking for a 10k increase and for them to pay closing (they countered with 5k increase for a total of 220K, but that we pay closing). Now this is where I would love feedback/advice. Hubby wants to accept the offer. There are a lot of pros with it being a cash offer--particularly that we can sell fast and not have to worry about potentially paying 2 mortgages (the other mortgage starts Aug). I want to be strategic and weigh the pros and cons. My concerns are the following:
-Could we get more? Is this a good deal? given that listings are selling for above asking on the market-I'm worried we could maybe get more on the market. However, I know with interest rates increasing that may not be the case with non cash buyers. Inventory for our neighborhood is really low though---and we are the only 1/1 that's fully rehabbed at the moment. The buyers realtor mentioned they had been looking for months and hadn't found anything. I don't want to wonder what if we put it on the market. Technically these buyers, if really interested, can also put an offer in once on the market (we had planned on listing on Monday).
-Could doing a FSBO (for sale by owner) without a seller's agent backfire? We've never done a FSBO. But technically we found the buyer w/ out any marketing (given we go with them) so not sure how I feel paying someone 7-8k that did barely anything for this deal. The realtor is also a friend and on a personal level feel a little bad not going through with signing the listing agreement. However, she just got commission from us from the sale of the off-market multi fam deal (so don't feel too bad)
