Quote:
Originally Posted by KC911
But only if a loan is involved. There aren't too many houses on the market around here (based upon my casual observations), and they don't last long....and "cash is king" for houses in that price range...YMMV. Nothing wrong with a "low ball offer" imo....my buddy just "unloaded" one of his houses to investors for a price that I would have considered insulting. He was just ready to move on, simplify his life, and has no regrets either....he easily left 50K on the table in doing so.
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Well, I can't see a cash buyer paying more than appraised value, so I guess my statement still holds up. The house has to appraise at least at the asking price. Otherwise, a buyer will have to come up with additional equity over the minimum to make LTV numbers work.
And a cash buyer will just cram down the price, otherwise there is no point in using cash.
What is an "acceptable profit" to an investor? That's like asking whether you prefer Advil or Tylenol to treat a headache. The answer is highly individualized, and varies from person to person.