Oh crapy day!

[Indo_mommy 0]

Lol, well the guy wasn't in, but I'm popping by to see him tomorrow

It's just good that the interest is there, but man if this could happen, omG!

I think this year is my year cos lucky things seem to be happening to me *knock wood*...I went to a very posh end of town (read: cheap homes $400k), they were having a 'community garage sale' and I bought Dave a really nice foozball table..anyways, I'm talkin to the lady and her son & we switch #s so I can arrange pickup...I give her my card, and she's all

OH YOU'RE IN REAL ESTATE? I NEED TO SELL THIS HOUSE..CAN YOU HELP ME?

Oh, PS.....I make these sales, and you are all invited to a pool party. Maybe even a pyjama jammy jam.

Woohoo Lisa! Good luck girl!

[hockeygal 0]

I don't understand 'no subjects'?

20k above asking price would prolly be hard to finance cos if it doesnt appraise, who's givin the money for an overvalued not worth it condo?

My understanding of subjects is that their offer is not subject to a house inspection, not subject to financing, not subject to selling their place first etc. I haven't heard of too many mortgage companies who will give you the mortgage without at least a house inspection, at least not the one my roomie has! So we assume these "no subjects" deals are cash.

She is preapproved to a certain amount, so she knows how much she can offer. This market is so nutty though, that not only is everyone fighting for the available condos, they are offering more than the asking price. Her agent said in this market, you pretty much have to offer the most you are willing to spend. My friend bought a teeny tiny condo for $181K 3.5 years ago. She just sold it for $295K.

This is Vancouver, and this is why I am renting!

Here is a good crazy real estate market story. A friend of mine was lined up to get a look at the unveiling of a new condo (not yet built) that was about to go on sale. (yes, people pre-register here so they can wait in line to throw hundreds of thousands at developers for things that haven't beenbuilt yet) She had got there early and was third in line. An agent from further back in the line offered her a thousand dollars for her place in line. Needless to say, she took the grand and went home!

Edited May 15, 2006 by hockeygal

[#@!!* 0]

I want a gas station!

Heck, I'd be happy with a full tank of gas.

Good going LisaD! If I said any sort of prayers I would say some good luck ones for you, but alas, I do not. Therefore, I will send you some good luck vibes for tomorrow.

[Fandango 1,440]

I don't understand 'no subjects'?

20k above asking price would prolly be hard to finance cos if it doesnt appraise, who's givin the money for an overvalued not worth it condo?

My understanding of subjects is that their offer is not subject to a house inspection, not subject to financing, not subject to selling their place first etc. I haven't heard of too many mortgage companies who will give you the mortgage without at least a house inspection, at least not the one my roomie has! So we assume these "no subjects" deals are cash.

She is preapproved to a certain amount, so she knows how much she can offer. This market is so nutty though, that not only is everyone fighting for the available condos, they are offering more than the asking price. Her agent said in this market, you pretty much have to offer the most you are willing to spend. My friend bought a teeny tiny condo for $181K 3.5 years ago. She just sold it for $295K.

This is Vancouver, and this is why I am renting!

Here is a good crazy real estate market story. A friend of mine was lined up to get a look at the unveiling of a new condo (not yet built) that was about to go on sale. (yes, people pre-register here so they can wait in line to throw hundreds of thousands at developers for things that haven't beenbuilt yet) She had got there early and was third in line. An agent from further back in the line offered her a thousand dollars for her place in line. Needless to say, she took the grand and went home!

Ahhhh no contingencies!

Yeah a no contingency deal is like 'as-is where-is' no financing...like how fast can you pack type deals.

And as I said, unless the extra 20k was in cash, it would kill the deal cos that would have to be financed, and if it can't appraise for that extra 20k, then it would never fly . Just because you friend is qualified doesn't mean the condo would. See they both have to. Your friend has to be credit worthy, and the house needs to be worth what it's financed for.

And a lot of people make money flipping preconstruction prices...it's a very normal way that investors make money

oh and squidge thanks!!!!!!!