BC Announces Home Buying 3-Day Cooling Period

[Darkane]

This quote is hidden because you are ignoring this member. Show Quote

My body my choice.

Wait, wut?

We’re still talking dicks, right?

[ThePenIsMightier]

This quote is hidden because you are ignoring this member. Show Quote

We’re still talking dicks, right?

BC mandates cooling period for the uncut population to buy houses.
Since their decision isn't so cut & dry...

[tirebob]

This quote is hidden because you are ignoring this member. Show Quote

Wait, people make offers on houses and THEN see if they qualify financially? How. Why.

Yes... It is painful! When I sold my Airdrie house I had two separate accepted offers collapse because dickheads did not get their ducks in a row before making offers. It was totally infuriating! I ended up missing out on good selling season and some slightly lower offers then winter weather hit and I had to carry the property costs for another 4 months before finally getting a deal done. Ended up working out that I took home less money overall than if I would have accepted the lower offer in the first two weeks of listing.

Such a piss off. Realtors should make sure their clients are pre-qualified before making offers on their behalf.

[suntan]

The two offers for my house had copies of their preapprovals.

For my purchase I had no financing condition as a show of good faith.

[schurchill39]

This quote is hidden because you are ignoring this member. Show Quote

Did you leave money on the table by only working with said people? Were the offers better by the people that didn't know if they could afford it or not?

No we didn't leave any money on the table by taking that approach. The offers that we assumed were already stretched thin were either at or just above our asking price and had the bare minimum deposit. Probably about 2/3 of the offers we had were minimum deposits which in hindsight was expected given the fact that it was a starter home.

The offer we did accept was the second highest dollar wise, had the largest down payment, offered a flexible on possession date from 15-60 days, and the only condition was an inspection. At the end of the day it was the possession date that swayed us because we were in the middle of dealing on the new house we were buying and negotiating the possession date with them. We turned down any offer (including the highest) that had a string of 8's in it because I'm white as fuck and I don't play that lucky number game - plus the highest offer's plan was to turn it into a rental and shove as many people in it as possible which I didn't want to subject my neighbors to.

We checked in periodically throughout the day on the ring doorbell camera and most people just stood on the front step talking about it after they saw it. It was from that that we knew that the guy whose offer we ended up accepting made out good on the sale of his last place and had ~80% of the price of the house in cash in his account. Apparently he was staying with his parents until he found something hence the flexible possession date. There was also quite a few people who had missed out on a dozen or so homes that were feeling discouraged so they were literally just putting in offers on every house they saw as soon as they saw it for $5k over asking. We got one sappy letter from a very pregnant chick and her fiancé that pulled at our heart strings but they were definitely in the "financially stretched thin" category.

What I found the most interesting was that pretty much everyone accused us of listing the house low despite it being the highest $/sqft sold within the previous 3 months in the community for our house type and was listed about $30k more than I thought it was worth. At the time there was a bungalow 8 houses down the block that had been for sale for a month that I thought was priced pretty fairly.

[Pauly Boy]

This quote is hidden because you are ignoring this member. Show Quote

'What kind of payments are you looking for ser?'

Time to bust out the 4-square.

[prae]

fi-douche-iary doobie