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OfflinePatlal
You ask too many questions
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Registered: 10/09/10
Posts: 44,797
Loc: Ottawa Flag
Last seen: 40 minutes, 40 seconds
I'm selling my house! * 3
    #27092359 - 12/16/20 02:59 PM (3 years, 1 month ago)

I bought this place in 2009 for 203k.

I'm selling for 425k.

I just got an offer of 525k.

I made about 250k worth of rent with it.

Good times.

I'm gonna have a quarter mil in my bank account.

But I'm buying two duplexes.

I might buy a steak to celebrate.


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OfflineKyngwhatt
presbyter
Other

Registered: 02/05/20
Posts: 272
Loc: The pharcyde Flag
Last seen: 2 years, 11 months
Re: I'm selling my house! [Re: Patlal] * 1
    #27092392 - 12/16/20 03:21 PM (3 years, 1 month ago)

congratulations! in my opinion, that's a great accomplishment!
:cheers: :congrats:


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Whatt


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OfflineGypsy Boy
Redeemer
Male


Registered: 03/17/17
Posts: 4,501
Loc: Deep in the discoteka
Last seen: 2 months, 25 days
Re: I'm selling my house! [Re: Patlal]
    #27092394 - 12/16/20 03:22 PM (3 years, 1 month ago)

Quote:

I might buy a steak to celebrate.




Sirloin? T bone? Fillet?


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Invisiblech0ppie
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Registered: 11/18/20
Posts: 593
Re: I'm selling my house! [Re: Gypsy Boy] * 1
    #27092396 - 12/16/20 03:26 PM (3 years, 1 month ago)

Noice, more than enough for an A5 Wagyu steak oh yea...  :drooling:


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Offlineflugelizor
Furious ball of nothing
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Registered: 11/16/08
Posts: 2,107
Loc: Western NY
Last seen: 5 hours, 18 minutes
Re: I'm selling my house! [Re: ch0ppie]
    #27092409 - 12/16/20 03:33 PM (3 years, 1 month ago)

Awesome!
Sounds like a good market.

(Flugelizor asks himself - Is Ottowa a good climate for Cannabis?)


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InvisibleCrazy_Horse
I’m Rick James, bitch!
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Registered: 08/15/16
Posts: 13,283
Loc: Hampsterdam
Re: I'm selling my house! [Re: Patlal] * 1
    #27092421 - 12/16/20 03:40 PM (3 years, 1 month ago)

Just like monopoly.


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OfflineNorthernerM
splelling chceker
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Registered: 07/29/12
Posts: 14,139
Loc: FNQ
Last seen: 32 minutes, 45 seconds
Re: I'm selling my house! [Re: Crazy_Horse]
    #27092450 - 12/16/20 03:54 PM (3 years, 1 month ago)

If you were selling for 425 why did they offer you 525?

How bad is capital gains tax where you are?

It's nice to see house value go up. Imagine if we had proportionate wage increases as well.

I've only had my current house a few years and its value has barely shifted, but I almost doubled my my money on my last 2 places which I only owned for ~5 years. Very different reasons on buying this particular place though.


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The nearest we ever come to knowing truth is when we are witness to paradox.


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OfflinePatlal
You ask too many questions
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Registered: 10/09/10
Posts: 44,797
Loc: Ottawa Flag
Last seen: 40 minutes, 40 seconds
Re: I'm selling my house! [Re: Northerner]
    #27092478 - 12/16/20 04:09 PM (3 years, 1 month ago)

Quote:

Northerner said:
If you were selling for 425 why did they offer you 525?

How bad is capital gains tax where you are?

It's nice to see house value go up. Imagine if we had proportionate wage increases as well.

I've only had my current house a few years and its value has barely shifted, but I almost doubled my my money on my last 2 places which I only owned for ~5 years. Very different reasons on buying this particular place though.




It's a bidding war.  I could get a 550k offer or more if things works out well.

Capital gains tax is a bitch but there's no way around it.


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InvisibleTexas Honey BadgerM
No fucks given
I'm a teapot User Gallery


Registered: 07/12/18
Posts: 57,761
Loc: Spicemaster Texas
Re: I'm selling my house! [Re: Patlal]
    #27092493 - 12/16/20 04:17 PM (3 years, 1 month ago)

This is what i am building now, just put money down to get it started:snowman:

I bought a 2056 sq ft home in this neighborhood in 2018 for $206.000
I only owe $1k on it now but it is to small
I should have built this one to start with
Congrats on you wise investment dude:highfive:


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Some call me Paw 🐾


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OfflineKyngwhatt
presbyter
Other

Registered: 02/05/20
Posts: 272
Loc: The pharcyde Flag
Last seen: 2 years, 11 months
Re: I'm selling my house! [Re: Patlal]
    #27092541 - 12/16/20 04:46 PM (3 years, 1 month ago)

Why is food so expensive in Canada? I saw someone was showing their receipt for an apple that was like 2.3 currencies.


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Whatt


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Invisiblepsi
TOAST N' JAM
Male User Gallery

Registered: 09/05/99
Posts: 31,456
Loc: 613 Flag
Re: I'm selling my house! [Re: Patlal]
    #27092621 - 12/16/20 05:29 PM (3 years, 1 month ago)

Congrats Patlal. :lookslucrative:

Quote:

Northerner said:
If you were selling for 425 why did they offer you 525?



Ballpark of 20% over ask seems to be pretty common in the current market here. As a buyer you don't know what anyone else bid until after, and you don't in general know what anything sells for unless their agent tells your agent. But 20% over, give or take a bit, was what we were seeing pretty consistently.

Quote:

Kyngwhatt said:
Why is food so expensive in Canada? I saw someone was showing their receipt for an apple that was like 2.3 currencies.



A 4 lb bag of apples is $5 in my local grocery store's current flyer. There are remote locations with insane produce prices though. And a cafeteria or something might rip you off for a single apple.


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OfflineNorthernerM
splelling chceker
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Registered: 07/29/12
Posts: 14,139
Loc: FNQ
Last seen: 32 minutes, 45 seconds
Re: I'm selling my house! [Re: psi]
    #27092672 - 12/16/20 05:52 PM (3 years, 1 month ago)

Buying a house here is really different, people rarely pay asking price unless it's an amazing deal. Asking price is normally top end of market value for a property unless it's a really motivated seller. There's no hidden auction system like there. Auctions are straight up on the day, show up and bid. Some people do sell their home on offer. But then they don't even put a price, just say "open to offers".

Offers also expire pretty quickly here, generally in week or so. Stops offer shopping and hidden auctions and bid wars.

Dunno which way is better, but I learned something today.


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The nearest we ever come to knowing truth is when we are witness to paradox.


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OnlineCHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States Flag
Last seen: 1 minute, 38 seconds
Re: I'm selling my house! [Re: Northerner]
    #27092677 - 12/16/20 05:56 PM (3 years, 1 month ago)

Congrats Paltal great move if you have something lined up. Housing is crazy right now.


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InvisibleSARAtonin
Violent Dreams
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Registered: 09/28/11
Posts: 15,907
Loc: Deutschland
Re: I'm selling my house! [Re: CHeifM4sterDiezL]
    #27092682 - 12/16/20 06:02 PM (3 years, 1 month ago)

Grats

I need rip off the bandage and get around to selling my parents old place.


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God kills indiscriminately and so shall we. For no creatures under God are as we are none so like him as ourselves.

Want to join a cult? Click for details…


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OnlineCHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States Flag
Last seen: 1 minute, 38 seconds
Re: I'm selling my house! [Re: SARAtonin]
    #27092689 - 12/16/20 06:07 PM (3 years, 1 month ago)

I recommend selling now if you dont have to actually change shells for sure. The iron is hot after covid ppl are gonna be able to put up houses again without all the nut numbers.


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Invisiblepsi
TOAST N' JAM
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Registered: 09/05/99
Posts: 31,456
Loc: 613 Flag
Re: I'm selling my house! [Re: Northerner]
    #27092697 - 12/16/20 06:09 PM (3 years, 1 month ago)

Quote:

Northerner said:
Buying a house here is really different, people rarely pay asking price unless it's an amazing deal. Asking price is normally top end of market value for a property unless it's a really motivated seller. There's no hidden auction system like there. Auctions are straight up on the day, show up and bid. Some people do sell their home on offer. But then they don't even put a price, just say "open to offers".

Offers also expire pretty quickly here, generally in week or so. Stops offer shopping and hidden auctions and bid wars.

Dunno which way is better, but I learned something today.



My understanding is that it was common here not all that long ago for houses to go around asking price and sometimes less. I believe agents used to be able to access a database of what every house sold for, but no longer.

For most houses they specified a date that bids would be reviewed, and we saw one on an estate sale that was "72 hour irrevocable". Otherwise the buyer's bid is non-binding I think, there is some window where they can back out.


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Invisiblesh4d0ws
LSx
I'm a teapot User Gallery

Registered: 02/26/08
Posts: 12,086
Re: I'm selling my house! [Re: Patlal]
    #27092703 - 12/16/20 06:16 PM (3 years, 1 month ago)

Congrats patlal, nice gains


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OnlineCHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States Flag
Last seen: 1 minute, 38 seconds
Re: I'm selling my house! [Re: psi]
    #27092704 - 12/16/20 06:16 PM (3 years, 1 month ago)

Depends on the market. Right now happens to be one those rare moments when there is an absolute sellers market. Theres simply far and the way more buyers than houses on the market rn. If u can put up a house or sell a residential property u prob should. Construction is about to explode if they can find people willing to work.


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OfflineBANANA.MAN
Turd Ferguson
Male
Registered: 01/11/15
Posts: 7,474
Loc: Ontario Canada
Last seen: 6 months, 1 day
Re: I'm selling my house! [Re: Patlal]
    #27092705 - 12/16/20 06:17 PM (3 years, 1 month ago)

Quote:

Patlal said:
I bought this place in 2009 for 203k.

I'm selling for 425k.

I just got an offer of 525k.

I made about 250k worth of rent with it.

Good times.

I'm gonna have a quarter mil in my bank account.

But I'm buying two duplexes.

I might buy a steak to celebrate.



wait so you have the 525k plus a quarter mil in your bank?

if you're saying you can buy 2 duplexes for just the 525k where you are then what the fuck? Are they any good?


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Invisiblecannabinated
I'm a teapot User Gallery

Registered: 01/03/13
Posts: 14,743
Loc: Outside Flag
Re: I'm selling my house! [Re: CHeifM4sterDiezL]
    #27092708 - 12/16/20 06:18 PM (3 years, 1 month ago)

u said fuck 2009


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