I'm afraid to look because I did on modular homes for sale in my area. Thing is, most of them are what I'd call a mobile home, and with up to 2 acres of land, in my rural BFE in NC, anywhere between 200-300k. Almost fell over dead considering what we paid for a 3 story home with 38 or so acres.
I remembered this thread-- as something relevant has occurred.
I remembered this thread-- as something relevant has occurred.
A neighbor seeks to move out of state. Sell personal residence, sell business real estate property, and buy new out of state personal residence.
As of now here is where these transactions stand:
- the out of state home acquisition closed escrow, blew up thereafter, and is now in expensive litigation.
- the sale of business property was handled without a real estate agent as it was among buyer/seller in the same industry. That also blew up and in the meantime all of the seller's personal property vanished from the commercial property being sold. The Sheriff will not get involved as it is a civil dispute.
- the sale of the personal residence just blew up over a property defect that was (likely) known to the seller but not disclosed. Angry exchanges are occurring among many parties and litigation is possible. The proposed buyer did extensive, expensive inspections which uncovered the defect.
Ahhhh, yes, the simplicity of real estate. Easy money for lazy agents who rake in piles of dough.
These transactions seem to have it all-- "know it all sellers" who believe they are smarter than real estate professionals, greedy real estate agents acting for $$ instead of upholding ethics, and private party transaction with no guardrails at all.
Yes, it's quite a simple game leading to easy money .... lol.
A professional makes navigating the pitfalls look easy as it should be…I remembered this thread-- as something relevant has occurred.
A neighbor seeks to move out of state. Sell personal residence, sell business real estate property, and buy new out of state personal residence.
As of now here is where these transactions stand:
- the out of state home acquisition closed escrow, blew up thereafter, and is now in expensive litigation.
- the sale of business property was handled without a real estate agent as it was among buyer/seller in the same industry. That also blew up and in the meantime all of the seller's personal property vanished from the commercial property being sold. The Sheriff will not get involved as it is a civil dispute.
- the sale of the personal residence just blew up over a property defect that was (likely) known to the seller but not disclosed. Angry exchanges are occurring among many parties and litigation is possible. The proposed buyer did extensive, expensive inspections which uncovered the defect.
Ahhhh, yes, the simplicity of real estate. Easy money for lazy agents who rake in piles of dough.
These transactions seem to have it all-- "know it all sellers" who believe they are smarter than real estate professionals, greedy real estate agents acting for $$ instead of upholding ethics, and private party transaction with no guardrails at all.
Yes, it's quite a simple game leading to easy money .... lol.
You might think so, but in reality the actual sale price is much less important to them than getting the sale - any sale - is. For example - 300k house, they get 5% so 15k. If you sell it for 310k, they get an extra 500 bucks. 15 k vs 500? if the offer comes in below that, they also lose a small amount but gain the vast bulk of the basic 15k from the sale. The incentive is to sell the place fast, pretty much no matter the price. At least from an agent's perspective. Kind of like turning tables in a restaurant. Much better financially to seat that table one extra time an evening than to get a few extra bucks from each one having dessert.