Real Estate hell, what to do? - Page 4

Jims5543 · 02-01-2007, 08:53 AM

Going with plan C.

I do not want to go to detail but lets say I am working with my landlord to let me out of my current office lease and leave it at that.

Then my rent that I pay now ($2300 a month) will go down to $1600 a month.

License will go to my full time residence and PO Box is already being used.

Problem solved.

Jims5543 · 02-07-2007, 04:57 PM

Update:

I sent one of those, we buy houses flyers you get in the mail back.

They offered me 12K below what I owed so I ignored it. They called me yesterday and offered to pay off the mortgage, I pay nothing at closing.

I have the contract in hand. My only issue at the moment is the realtor listing my house. I think there are 2 weeks left on my contract. (I am pulling it out in the a.m. to see) If this is the case I will wait 2 weeks. If its longer I am going to see what he needs to walk away.

My other issue is to make sure these buyers do not know something I do not. Like a deal brewing. Gonna check around.

But, the bottom line is I have an exit now and I plan on taking it.

End of nightmare.

Danny_Ocean · 02-11-2007, 08:33 PM

Quote:

Originally posted by Jim Cesiro
My only issue at the moment is the realtor listing my house. I think there are 2 weeks left on my contract. (I am pulling it out in the a.m. to see) If this is the case I will wait 2 weeks. If its longer I am going to see what he needs to walk away.

If you land a buyer during the contract period, you owe the broker a commission on the sale. However, if the broker is cool, they'll let you slide. If he's a *****-tard who sat on the property and didn't market it for 5 months and 2 weeks, he'll probably demand full commission.

I'll never use a real estate agent again (as a seller).

Congrats on your sale.

Jims5543 · 03-02-2009, 01:45 PM

I just had to dig this thread up. Taking some pelican advise to cut and run, I sold this house for 145K paying off what I owed on it in 2007 I lost 40K on the deal.

Today, the house may be worth 40K. I ducked out of a 140K loss.

I drove past it today and busted out laughing. I suspect its in foreclosure now.

This was better for the city? To get me, a stable tenant the took care of the place out, and get this?

the · 03-02-2009, 01:49 PM

Quote:

Originally Posted by Jims5543

Today, the house may be worth 40K. I ducked out of a 140K loss.

That's impossible. RE always goes up.

the · 03-02-2009, 01:52 PM

Hey, reading through the thread, there's my quote from December 2006!

Quote:

Originally Posted by the

I'd get out now. RE in that area hasn't come close to bottoming out yet, that will take years, not months.

IMO, looking back a year from now, you'll be happy that you sold now, even if you take a small loss.

Jims5543 · 03-02-2009, 02:17 PM

Quote:

Originally Posted by the

Hey, reading through the thread, there's my quote from December 2006!

You sir were 100% correct and I am very happy I listened to you and others that said to cut and run.

imcarthur · imcarthur's Garage

Wow. Yes, you did the right thing Jim. South Florida won't see those prices again for a long time. But $4100 in taxes? That is/was insane.

We took a similar loss in 1998 when we sold my wife's townhouse - she bought in our '89 boom. After 9 years, the market still hadn't bounced back up. It hurt at the time, but now 10 years after, it was certainly the right move for us.

Ian

the · 03-02-2009, 02:37 PM

Quote:

Originally Posted by Jims5543

You sir were 100% correct and I am very happy I listened to you and others that said to cut and run.

Yeah, looking through the thread, everyone gave pretty good advice on this one!

KFC911 · 03-02-2009, 02:51 PM

Quote:

Originally Posted by the

Yeah, looking through the thread, everyone gave pretty good advice on this one!

Snowman must've missed this thread

the · 03-02-2009, 03:02 PM

He would have told his daughter to buy it from Jim for $150K.

turbo6bar · 03-02-2009, 05:27 PM

Offer $22.5k cash with no contingencies. Rent it or have it rezoned to commercial and move your surveying joint there.

LeRoux Strydom · 03-02-2009, 09:47 PM

Looking at this from the outside, I'd say that $40k is probably the real worth of a house like this in my part of the world. The $190k or so that you paid for it in 2005 would have bought you something like this down here (from a quick online search):

It seems to me that real estate was overvalued in the US for a long time. Welcome to the rest of the world.

Bill Douglas · 03-02-2009, 10:26 PM

Quote:

Originally Posted by LeRoux Strydom

I'd say that $40k is probably the real worth of a house like this in my part of the world.

That's because the poor b******* that built that house were paid about one dollar per hour.

LeRoux Strydom · 03-02-2009, 10:39 PM

Quote:

Originally Posted by Bill Douglas

That's because the poor b******* that built that house were paid about one dollar per hour.

Do some research before posting drivel.

Jims5543 · 03-03-2009, 05:18 AM

Quote:

Originally Posted by turbo6bar

Offer $22.5k cash with no contingencies. Rent it or have it rezoned to commercial and move your surveying joint there.

I laughed out loud at that one. I should do it, I should offer 20K cash with a contingency that is can be rezoned professional / Residential or commercial.

I wonder if the city will have a change of heart over the zoning change now? They only had one word to say to me every time I pleaded with them to reconsider the zoning of that property. NO.

m21sniper · 03-03-2009, 07:54 AM

Quote:

Originally Posted by Jims5543

My honesty kicked my own butt.

Well i hope you've learned that lesson.

Bill Douglas · 03-03-2009, 07:45 PM

Quote:

Originally Posted by LeRoux Strydom

Do some research before posting drivel.

Ha, three months enough?