Quote:
Originally Posted by codeman671
If a property is worth $350k (keep in mind appraisals come into play when financing) and a seller would have to pay $20k in commission to sell with a broker then yes, a private sale at $350k does save them money....
I am NOT trying to capitalize on a private sale by trying to save myself money by a seller not having to pay a commission. I am trying to possibly find something before it hits the market to beat the feeding frenzy going on. You are incorrect, there is huge demand on the islands right now as there was last season and inventory is low. Sellers are getting multiple offers on properties. Take a look on island real estate and see how many are under contract, some for big money. The ones that aren't are either high up with lots of stairs which doesn't work for everyone, are grossly overpriced, or need a ton of work/ have issues.
We lost one already in a 3 way bidding war. The fsbo on rattlesnake has multiple offers, and I know of another that has multiple bids right now after being listed for a VERY short period of time.
It is a sellers market all around.
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I didn't realize it was a sellers market for Island properties. I'm always on the look out for a deal but I don't see any deals out there unless they need work. Those are the properties I like to buy. Good luck with your search.