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Registered
Join Date: Jun 2007
Location: Lake Oswego, OR
Posts: 6,261
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Real Estate offer question
Hello,
I have been drooling over some expensive houses for my personal residence.
Naturally, I would prefer to pay less. Also, my current house needs a bathroom remodel prior to sale for best return.
I have found a place that I "could" buy the traditional way. But, my inner tight-wad says I should pay less.
Here is what I want to do. Not sure if there is a way to make this happen. Subsequently, I am tapping into the braintrust.
My most preferred option is monthly rental with a negotiated price to buy at a later date. This gives me time to sell my current home in a relaxed manner as well as collect on a mid-term investment that I anticipate to cash out in 4.5 years or so. Also, if the market crashes, I can walk away. If the market jumps, I will have a pre-negotiated price. Summary: win for me no matter what happens.
The particular place I am eyeing has been on the market for 300 days. Which, is an eternity in this market. The seller paid approximately what they are asking for it about 4 years ago. It is vacant. The market has clearly indicated that this price is too high.
Question: How can I motivate the real estate agent to present my offer? I am happy to pay commissions down the road should I purchase. I am not wanting to pay large dollars commission if I only rent.
Related question: anyone ever done anything similar? Thoughts? Creativity wins the day here. I talked to my mortgage guy and I qualify and can make this happen the traditional way. I guess the temptation of the new place simply isn't enough to cause me to take the stress of such a large spend at this time.
Thanks!
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