Bidding war on houses

[Grant H.]

I see it quite differently. I'm not trying to screw anyone over.

I'm not picking on you directly, but you're one of three people that I have heard complain about real estate investors recently.

How is making savvy business decisions trying to screw people over?

If you had the opportunity to buy low and sell high, would you pass it up? I doubt it, but maybe you are the one person that would in this world.

[Vitesse304]

One of my friends has a realtor who helped her find her house and is gonna help me find one.

Another friend works preparing titles and mortgage paperwork and knows several realtors and she said I may end up around Johnstown area or further north but they can find me what I'm looking for or reasonably close to it. Plus she said they been having a run on people getting transferred to other cities for their jobs and literally have less than 30 days to pack up, sell the house and move and they don't wanna spend a bunch of time and effort trying to sell or haggling, so that's what I'm hoping for. 🤞🏻

Thanks! I appreciate that!


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No offense...but keep in mind, these friends are in the business of making money. The housing market is hot, they're making lots of money, and you're just another person that is going to buy a house and they are going to profit off the transaction.

Is your realtor friend going to give up their commission? They might give up a half percent, maybe even one percent if they really like you, but they aren't working for free. And the more money you spend on the house, the more they make. That goes double for the banks. They want to give you the biggest loan they can while mitigating the risk of you defaulting. Even if you default, it's not like they're in a world of hurt since they can just take your house so they're going to approve you for more than you are probably comfortable spending.

I guess all I'm saying is just don't get your hopes up. I'm rooting for you, but in this market, you're gonna have to work twice as hard as the investors to find a property, and then twice as lucky to have the buyer accept your offer.

[CoGirl303]

thanks


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[Great-Kazoo]

No offense...but keep in mind, these friends are in the business of making money. The housing market is hot, they're making lots of money, and you're just another person that is going to buy a house and they are going to profit off the transaction.

Is your realtor friend going to give up their commission? They might give up a half percent, maybe even one percent if they really like you, but they aren't working for free. And the more money you spend on the house, the more they make. That goes double for the banks. They want to give you the biggest loan they can while mitigating the risk of you defaulting. Even if you default, it's not like they're in a world of hurt since they can just take your house so they're going to approve you for more than you are probably comfortable spending.

I guess all I'm saying is just don't get your hopes up. I'm rooting for you, but in this market, you're gonna have to work twice as hard as the investors to find a property, and then twice as lucky to have the buyer accept your offer.

If one sees a place they want, the offer should be ready before they walk, in the door.