So my "sister in law" has a house that she was going to sell to me and my guy for $197,000. Now she is working with a realtor and the real estate agent said she should list it for $220, 000 (way above what we can afford) We're expecting a little one in Febuary, and our apartment is way too small. Her house is perfect for us. What can I do to convince her to sell it to us instead of listing with a realtor? I really really need your help!!!
2006-09-27 07:19:29 · 6 answers · asked by little lady 2 in Home & Garden ➔ Other - Home & Garden
well your 'family' and in a position that means you need the house soon, also if she puts it on market at that price, chances are that she may not get the offer she wants. She also originally offered it to you at the lower price so she could sell it alot quicker if she accepted it and she wouldnt have to pay fees for the real estate(we have to pay in uk but not sure about US). but then also the profit if she did sell it would be nice for her so i think its a tough one!
2006-09-27 07:27:26 · answer #1 · answered by Anonymous · 0⤊ 0⤋
normally when you sell with a realtor, your house will sell for more, so the realtor can make profit, but the seller will usually make more if they sell it without a realtor because they won't have to pay the realtor to do the work. Is your sister-in-law making a profit by selling it to you? If so,is it the amount she wants/needs to get out of it? If she is making enough money when she sells it to you there would be no reason to go through a realtor, she probly thinks she will make more the other way. Ask her to check with the realtor to find out what percentage the realtor will take when it sells. If the percentage is to high and your sister-in-law is really not going to make much more than you might convince her to sell to you.
2006-09-27 07:35:25 · answer #2 · answered by honey 2 · 0⤊ 0⤋
Let her know that the realtor will take a % of the selling price.
Can be as low as 4% and as high as 7%
If she sells it for $220,000.00 the realtor takes @ 4% $8800.00 and she gets $211,200.00
If she sells it for $220,000.00 the realtor takes @ 7% $15,400.00 and she gets $204,600.00
She will also be resonnsible for the costs of some items once the new buyer gets an inspection. The inspector may find numerous items wrong with the house that she will either have to fix at her expense or offer credits against the selling price to the new buyer. Either way another deduction off the selling price.
Good luck.
2006-09-27 07:31:53 · answer #3 · answered by whymewhynow 5 · 0⤊ 0⤋
I doubt very much that you will be able to at this point, has she explained why she has renege on her promise to sell to you.
Once she has had the house on the market [which has REALLY slowed down] you might be able to re ask her, but after all why should she lose the chance of a huge extra amount of money JUST to do you a favour...............
If you can come up with that sort of cash / mortgage money then look around for your selves you might be able to get a much much better deal, also IMO getting stuff like this from family is a bad bad route to take..............say something MAJOR goes wrong with the house..makes it all the harder to go back to them [as family] and raise a stink than if it was just some guy that you bought the house from.
2006-09-27 07:30:06 · answer #4 · answered by candy g 7 · 0⤊ 0⤋
Tell your sister that she has to pay a real estate agent a commission of about $13,200 for that price point which will bring her earnings down. In addition to allowing untold numbers of people to parade through her home who have no intention of buying..."just looking" for months on end. Even those who are truly interested in buying, might not qualify. The process is long and exhausting and the additional money she "might" get may not be worth it.
2006-09-27 07:33:45 · answer #5 · answered by Duch 1 · 0⤊ 0⤋
no deal
2006-09-30 23:44:07 · answer #6 · answered by Anonymous · 0⤊ 0⤋