Condo in escrow

User Forum Topic
Submitted by SDowner on August 8, 2018 - 2:23pm

Hi Piggs:

Been a long time since I posted. Many things have happened in the interim. Learnt a lot from this blog. Bought our current SFH with more than 33% downpayment and it has appreciated by 20% since we bought : )

Scenario:
Recently put our condo on the market, packaged well and it went into pending the same day that it hit the market. We are down to last 2 contingencies. Buyer is haggling for 1000 dollars more on repairs that need to be done (1st time buyer, older property, newer inspection codes). Due to us buying the property at peak of bubble, We are barely breaking even after selling. We will have a decent amount of cash in the bank because of our frugal way of living. This is not calculating the cost of housing for 10 years that we lived in that property.

Option 1: Should we cave to buyer demand?
Option 2: Have rented that condo without difficulty in past 4 years, and it is tempting to yank if back as a rental : )

Looking to reduce housing here in US as I have family commitments to take care of outside the country.

Advice please......

Submitted by barnaby33 on August 8, 2018 - 4:04pm.

Haggling over 1k seems pointless. You've already decided to sell it. It's not like an extra 1k will help you feel better about breaking even. Being a landlord on another continent sucks, I watch my wife do it.

Sell the pig, walk away.
Josh

Submitted by FlyerInHi on August 8, 2018 - 10:45pm.

Hot market. As is. Don’t cave. No haggling needed. Just say no.

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