So 6 months minus 3 days, this damn house has been on the market BUT I got an offer on Friday! Why? Because I had a good plan. House was originally listed for $259,900 then we lowered it to $254,900, then we lowered it to $244,900 and still nothing. So last week I e-mailed my realtor late at night (because that's when I come up with brilliant ideas....when I am supposed to be sleeping) and I told him to pull it off and re-list as a new listing at $229,900 and to have an open house this past Sunday. He told me that was too aggressive. Well he's not paying the mortgage, taxes, heat, hydro, and staging furniture rental now is he!?!?!? So I told him to just do it! I got an offer the very next day for $225,000 and I countered with $229,000 for a closing date in less than 30 days. The faster the better for me, right? They agreed to the quick closing if I took $227,500. I accepted. It's, of course, conditional upon inspection and financing but those conditions have to be lifted by November 23rd. I have my fingers crossed.
I bought the house for $185,000 and put $25,000 into it now (furnace conked out last week and that was $3500 and I am up to $2000 in furniture rental costs). Also need to minus realtor fees of $10,000 and legal fees of $1500 and I am walking with $22,500 in my pocket. So, at the end of the day, I am still ahead.
The usual question du jour is "Are you going to have anymore kids" and my answer is always "HELLS NO!" Would I do another flip depsite this one being on the market for 6 months.....HELLS YES! It was totally fun, I learned a lot and I still came out on top, so why not? Of course I'll do it again. It's all about timing. I just have to wait for the right house at the right time.
Pray that inspection goes well and my buyer gets financing, ok?
