So what would you do if someone offered to buy your house for more than 2x the market value? Would you move? Dead of winter likely the move out time too.

What do you do to make sure that they are serious? Obviously get the damn lawyers involved(sorry Bill).

 

2* market value SELL

 

####ing dream come true, right there. My condo's on the market, and nobody even wants to come look at it.

I'm closing on a house next week, though...

But seriously, I would tell them to go through a lawyer to make a serious offer, with money held in escrow, etc. Then decide if it's seriously worth it to you to move for the money.

But I'd be leery. Nobody will give a mortgage for that, so the buyer would have to pony the full price in cash.

So the question is... who has that kind of cash, and why do they want your house so badly when there are tons of others on the market?

 

if its for real i would def sell.

 

as long as they will put a non-refundable deposit, sans any type of mortgage contingency I would def do it. No bank will give a mortgage for a house whose sale price is double market value, unless they are mortgaging less than 50%. Makes no sense though.

 

 

Do the lawyer thing and sell. Even if you rent for 6 months and get a storage box/ thing it will most likely be worth it. Over the next six moths shop for a house. They're cheaper in the winter months (usually) and the market is still great for buying.

 

I could only dream of it.

moving is on the medium term agenda so yeah, in a heartbeat.

 

Sounds like the email from Nigeria.

If it sounds too good to be true, it probably is.

Who would pay way more than a house is worth in this market?

 

Jim, I assume this is an offer from an abutter who needs your lot for expansion, access or to provide a home for a family member who needs to be close by.

First off, what is the exact reason for the offer? Could it be that your lot is needed for a big development to go through? Maybe your lot is worth even more than double.

But let's not get greedy here. If the offer is for real, you need to qualify the buyer. Ask for financial information and authorization to run a credit report. Also, if it all looks serious, get a non refundable deposit that will at least cover the expenses you might incurr as you look for new housing and pack the up the old house. Put together an offer that says the house is sold as is with no contingencies such as mortgage, etc. If they want the house for a family member, then they may insist on a home inspection, and that is understandable. But get that part done in one week so you can wait and see if you can cross off that issue before you get excited and start packing boxes.

Retaining a lawyer would not hurt. You will need someone to help with the offer sheet, escrow account, compliance with CT law and to make sure you have a proper deed to convey title. Shop around for this. You should be able to get this service for $500 to $700.