Dallas-Fort Worth Real Estate Investor Club

I have a house deal already redone

  • 14 Jul 2015 9:32 AM
    Message # 3432926

    This home is worth in the $120's per sq ft , which should be around $278K to $280K range 

    I will let a cash buyer have it at $239K (net, net)

    It's at 2013 Hidden Trail Lewisville

    Call John for pics and details at: 972-333-6300

    Last modified: 14 Jul 2015 9:33 AM | John Cardamon
  • 19 Jul 2015 12:40 AM
    Reply # 3440307 on 3432926
    Deleted user

    Why.. why would you just give up $40k of equity?  There's always a reason, so pls, enlighten us.

  • 19 Jul 2015 10:13 AM
    Reply # 3440693 on 3432926
    Robin Carriger (Administrator)

    Notice that John said he'd sell it for $239K to a "cash buyer."  When someone says they're looking to sell to a "cash buyer," they usually mean they're willing to sell at a discount in exchange for a very quick and certain sale.  Buyers who need to be approved for a long-term loan from a conventional lender typically submit offers via contracts that are contingent on financing being approved.  This entails appraisals, credit reviews, and various other processes that could, in some cases, take 6 weeks or longer.  AND... Oftentimes those deals don't close at all for one reason or another.  Cash is King.  :-)

    Thanks,

    Robin

  • 21 Jul 2015 4:48 PM
    Reply # 3443862 on 3432926
    Deleted user

    Wow! I used to live in that neighborhood. I can't believe those houses have appreciated that much. We actually took a huge loss (and had to pay at closing) when we sold ours.


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