Florida The move to Florida is on!

Jerry Bransford

Jerry Bransford

Too many arguments and personal attacks, I'm done.
Supporting Member
Joined
Nov 9, 2015
Messages
29,739
Location
Fleming Island FL
I cannot believe that 2 days after I got in touch with a home buying company our house just sold with an offer $100k over what I was even hoping for. 30 days to get out though so I'm going to be busting my ass until we get back to Florida. Wow, I haven't slept in 2 nights with my head spinning over everything that has to be done. So I'll still be around but way less than usual.
 
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cliffish said:
What is a home buying company?
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They are companies that buy houses for various reasons. It could be a relocation service which will turn around and sell the house. It could be a local "flip" company. Neither of these are likely to pay over price, so I'm guessing an "investing company" or "ibuyer" like blackrock, zillow, opendoor etc. bought it. These companies typically a) sell immediately or b) hold it long term as a rental income asset. They run off of data and faulty models and are known to pay over price, which is why zillow is likely collapsing now.
 
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BlueC said:
They are companies that buy houses for various reasons. It could be a relocation service which will turn around and sell the house. It could be a local "flip" company. Neither of these are likely to pay over price, so I'm guessing an "investing company" or "ibuyer" like blackrock, zillow, opendoor etc. bought it. These companies typically a) sell immediately or b) hold it long term as a rental income asset. They run off of data and faulty models and are known to pay over price, which is why zillow is likely collapsing now.
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I figured, so that would mean no real estate fees as well?
 
BlueC said:
They are companies that buy houses for various reasons. It could be a relocation service which will turn around and sell the house. It could be a local "flip" company. Neither of these are likely to pay over price, so I'm guessing an "investing company" or "ibuyer" like blackrock, zillow, opendoor etc. bought it. These companies typically a) sell immediately or b) hold it long term as a rental income asset. They run off of data and faulty models and are known to pay over price, which is why zillow is likely collapsing now.
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The housing market is insane right now.

When we sold our house a few months ago an investor put in an offer (at asking) with intentions of turning it into a rental (per our realtor). We had a contingency plan since we still had to buy a place. They came back with a rent back price of $3,500/mon (2.5X our current mortgage at the time). We basically told them to go pound sand.
 
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tworley said:
The housing market is insane right now.

When we sold our house a few months ago an investor put in an offer (at asking) with intentions of turning it into a rental (per our realtor). We had a contingency plan since we still had to buy a place. They came back with a rent back price of $3,500/mon (2.5X our current mortgage at the time). We basically told them to go pound sand.
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I would have a hard time selling to a place that would turn it into a rental, being on the block since 1997 I know the neighbors too well to let it go rental.
 
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cliffish said:
I would have a hard time selling to a place that would turn it into a rental, being on the block since 1997 I know the neighbors too well to let it go rental.
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Thats how we felt. It was our first home and we really wanted it to go to someone who would appreciate it. It was a quiet neighborhood, friendly neighbors, beautiful house, and plenty of nearby open space. Thankfully we found a buyer who was under asking, but gave us 2 free months to live there while we found our next house.
 
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tworley said:
Thats how we felt. It was our first home and we really wanted it to go to someone who would appreciate it. It was a quiet neighborhood, friendly neighbors, beautiful house, and plenty of nearby open space. Thankfully we found a buyer who was under asking, but gave us 2 free months to live there while we found our next house.
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In NY it is 3 months+ to even close due to all the lawyers involved, more often than not you need to get an extension on the mortgage commitment interest rate. So usually there is plenty of time to pack and move. I have bought houses in FL and PA and they close in under a month...sometimes days.
 
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NashvilleTJ said:
I don't recall, Jerry - Do you already have a place in FL?
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Not yet, we need the proceeds from our present house we'll use to pay cash for the Florida house. We still need to find ne so we'll be heading back there soon to spend 10-14 days to try to find it. We're thinking Fleming Island which is close to Jacksonville. It's surrounded by water so we noticed it gets cooler breezes there than elsewhere we looked at.
 
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