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Northerner
splelling chceker


Registered: 07/29/12
Posts: 14,141
Loc: FNQ
Last seen: 17 minutes, 2 seconds
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Re: I'm selling my house! [Re: psi]
#27092726 - 12/16/20 06:35 PM (3 years, 1 month ago) |
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Quote:
psi said:
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.
Yeah there's publicly available information here for the price every house sold for ever, it's part of municipal taxation records so it's public domain information.
When you bid on a house here you always make the finalization subject to terms like pest and engineering inspections and that sort of thing. You can even make financial approval a term of the finalization. So an accepted bid does not necessarily mean a house is "sold", but is called "under offer". Once all the i's have been dotted and the t's crossed then it gets signed as sold if the buyers terms are satisfied. Dunno if it's the same up there.
The property market this side has been going nuts for 20 years, just hit a brick wall.
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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: 5 hours, 5 minutes
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Re: I'm selling my house! [Re: Northerner] 1
#27092796 - 12/16/20 07:06 PM (3 years, 1 month ago) |
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Well guys. I sold for 555k.
There was a bidding war going on and some corporate real estate agent went all in to get my house as an asset for his corporation.
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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 19 seconds
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Re: I'm selling my house! [Re: Patlal]
#27092800 - 12/16/20 07:08 PM (3 years, 1 month ago) |
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tyrannicalrex
Strange R



Registered: 04/24/03
Posts: 38,323
Loc: subtropics
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Re: I'm selling my house! [Re: Patlal]
#27092809 - 12/16/20 07:13 PM (3 years, 1 month ago) |
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Shweeet! Our house is almost 100g more than what we paid for it 3 years ago. CO FTW! 1st house I've ever owned much less with a husband. So many 1sts in the last 5 years!
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cannabinated


Registered: 01/03/13
Posts: 14,743
Loc: Outside
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this sounds like another bubble
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psi
TOAST N' JAM


Registered: 09/05/99
Posts: 31,456
Loc: 613
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The real estate bubble never really popped in Canada, there were economic effects of the 2008 crash here but we never had the mass defaults that happened in the US around that time.
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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 19 seconds
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Thats cuz Canada is a bit different. I'd love for Canada to get smacked rn lol. Theyre talking alot shit up there without actually dealing with all their own problems. Its like they're all too drunk on can to put a serious country together up there. Plus like how are they gonna deal with racism and actually being good people when the modern world really finally hits up there. America sets the example. I worry alot about how Canada and Europe can actually walk the walk where as I'm quite confident America will grow to become a better place to live for all. Not sure these other countries especially Europe will ever reconciled LOL
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Patlal
You ask too many questions


Registered: 10/09/10
Posts: 44,797
Loc: Ottawa
Last seen: 5 hours, 5 minutes
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Re: I'm selling my house! [Re: psi]
#27092837 - 12/16/20 07:27 PM (3 years, 1 month ago) |
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Quote:
psi said: The real estate bubble never really popped in Canada, there were economic effects of the 2008 crash here but we never had the mass defaults that happened in the US around that time.
Canadian banks are very conservative. They don't invest in trendy hip markets. They like to crunch numbers until they are satisfied.
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Patlal
You ask too many questions


Registered: 10/09/10
Posts: 44,797
Loc: Ottawa
Last seen: 5 hours, 5 minutes
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Quote:
CHeifM4sterDiezL said: Thats cuz Canada is a bit different. I'd love for Canada to get smacked rn lol. Theyre talking alot shit up there without actually dealing with all their own problems.
We don't really have any problems left to deal with...
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OutsideOfMyMind
LSD Self Administrative Director



Registered: 10/05/20
Posts: 5,384
Last seen: 53 minutes, 6 seconds
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The only people who bid that much higher on a house are Asians with privileged families. in Pasadena, the Chinese are buying up all the real estate and they all will outbid each other by like hundreds of thousands of dollars no questions asked like it's nothing.
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Northerner
splelling chceker


Registered: 07/29/12
Posts: 14,141
Loc: FNQ
Last seen: 17 minutes, 2 seconds
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Re: I'm selling my house! [Re: Patlal]
#27092850 - 12/16/20 07:34 PM (3 years, 1 month ago) |
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Quote:
Patlal said: Well guys. I sold for 555k.
There was a bidding war going on and some corporate real estate agent went all in to get my house as an asset for his corporation.
Nice. Happy for you mate.
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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: 19 seconds
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Good let them pay top dollar on turds sight on seen like poker bets on the churn well buy em.back.
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tyrannicalrex
Strange R



Registered: 04/24/03
Posts: 38,323
Loc: subtropics
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Just went to a 15yr mortgage, and am very confident a Denver county zip will not go down in price, ever.
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Patlal
You ask too many questions


Registered: 10/09/10
Posts: 44,797
Loc: Ottawa
Last seen: 5 hours, 5 minutes
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Quote:
tyrannicalrex said: Just went to a 15yr mortgage, and am very confident a Denver county zip will not go down in price, ever.
Why???
Take a 25 year mortgage and have more money in your pocket per month.
Always use someone else's money for as long as you can.
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tyrannicalrex
Strange R



Registered: 04/24/03
Posts: 38,323
Loc: subtropics
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Re: I'm selling my house! [Re: Patlal]
#27092891 - 12/16/20 07:47 PM (3 years, 1 month ago) |
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Because we can, and the interest we save will make the higher payment worth it. Make over a quarter mill a year so it's OK. I'm very humble and almost embarrassed at how good it's been for us this year in light of all the shit hanging around. Promotions, bonuses, and a new job for me even better than the past one.
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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 19 seconds
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Denver is a fantastic market. Colorado does right buy there people. Colorado is a microcosm of the American west. Things are moving forward in America. We're just lacing it up when ppl outside looking in think we're coming apart at the seems. God bless us everyone.
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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 19 seconds
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!I bet if I went to Canada they'd say they've never seen shoes laced like that. Guaranteed.
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tyrannicalrex
Strange R



Registered: 04/24/03
Posts: 38,323
Loc: subtropics
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I say Texas is a solid real estate market as well. Real estate really is the best investment ever. Even just land only. I predict weatherford will be the next fort worth and the 2 will merge like dfw (dalworthington).
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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 19 seconds
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CHeifM4sterDiezL
Chief Globerts


Registered: 07/28/10
Posts: 22,535
Loc: United States
Last seen: 19 seconds
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Quote:
tyrannicalrex said: I say Texas is a solid real estate market as well. Real estate really is the best investment ever. Even just land only. I predict weatherford will be the next fort worth and the 2 will merge like dfw (dalworthington).
Texas is a shithole if it wasn't for black tea those retards would have crumbled into Mexico by now
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