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Patlal
You ask too many questions


Registered: 10/09/10
Posts: 44,797
Loc: Ottawa
Last seen: 40 minutes, 40 seconds
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I'm selling my house! 3
#27092359 - 12/16/20 02:59 PM (3 years, 1 month ago) |
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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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Kyngwhatt
presbyter


Registered: 02/05/20
Posts: 272
Loc: The pharcyde
Last seen: 2 years, 11 months
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Re: I'm selling my house! [Re: Patlal] 1
#27092392 - 12/16/20 03:21 PM (3 years, 1 month ago) |
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congratulations! in my opinion, that's a great accomplishment!
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Whatt
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Gypsy Boy
Redeemer



Registered: 03/17/17
Posts: 4,501
Loc: Deep in the discoteka
Last seen: 2 months, 25 days
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Re: I'm selling my house! [Re: Patlal]
#27092394 - 12/16/20 03:22 PM (3 years, 1 month ago) |
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Quote:
I might buy a steak to celebrate.
Sirloin? T bone? Fillet?
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ch0ppie


Registered: 11/18/20
Posts: 593
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Re: I'm selling my house! [Re: Gypsy Boy] 1
#27092396 - 12/16/20 03:26 PM (3 years, 1 month ago) |
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Noice, more than enough for an A5 Wagyu steak oh yea...
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flugelizor
Furious ball of nothing


Registered: 11/16/08
Posts: 2,107
Loc: Western NY
Last seen: 5 hours, 18 minutes
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Re: I'm selling my house! [Re: ch0ppie]
#27092409 - 12/16/20 03:33 PM (3 years, 1 month ago) |
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Awesome! Sounds like a good market.
(Flugelizor asks himself - Is Ottowa a good climate for Cannabis?)
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Crazy_Horse
I’m Rick James, bitch!


Registered: 08/15/16
Posts: 13,283
Loc: Hampsterdam
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Re: I'm selling my house! [Re: Patlal] 1
#27092421 - 12/16/20 03:40 PM (3 years, 1 month ago) |
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Just like monopoly.
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Northerner
splelling chceker


Registered: 07/29/12
Posts: 14,139
Loc: FNQ
Last seen: 32 minutes, 45 seconds
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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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Patlal
You ask too many questions


Registered: 10/09/10
Posts: 44,797
Loc: Ottawa
Last seen: 40 minutes, 40 seconds
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Re: I'm selling my house! [Re: Northerner]
#27092478 - 12/16/20 04:09 PM (3 years, 1 month ago) |
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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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Texas Honey Badger
No fucks given



Registered: 07/12/18
Posts: 57,761
Loc: Spicemaster Texas
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Re: I'm selling my house! [Re: Patlal]
#27092493 - 12/16/20 04:17 PM (3 years, 1 month ago) |
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This is what i am building now, just put money down to get it started
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
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Some call me Paw 🐾
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Kyngwhatt
presbyter


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


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


Registered: 07/29/12
Posts: 14,139
Loc: FNQ
Last seen: 32 minutes, 45 seconds
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Re: I'm selling my house! [Re: psi]
#27092672 - 12/16/20 05:52 PM (3 years, 1 month ago) |
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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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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 1 minute, 38 seconds
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Re: I'm selling my house! [Re: Northerner]
#27092677 - 12/16/20 05:56 PM (3 years, 1 month ago) |
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Congrats Paltal great move if you have something lined up. Housing is crazy right now.
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SARAtonin
Violent Dreams


Registered: 09/28/11
Posts: 15,907
Loc: Deutschland
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Grats
I need rip off the bandage and get around to selling my parents old place.
-------------------- 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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CHeifM4sterDiezL
Chief Globerts


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


Registered: 09/05/99
Posts: 31,456
Loc: 613
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Re: I'm selling my house! [Re: Northerner]
#27092697 - 12/16/20 06:09 PM (3 years, 1 month ago) |
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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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sh4d0ws
LSx


Registered: 02/26/08
Posts: 12,086
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Re: I'm selling my house! [Re: Patlal]
#27092703 - 12/16/20 06:16 PM (3 years, 1 month ago) |
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Congrats patlal, nice gains
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CHeifM4sterDiezL
Chief Globerts


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

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


Registered: 01/03/13
Posts: 14,743
Loc: Outside
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u said fuck 2009
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