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pumpkinmom
LIF Adult
Member since 5/12 2911 total posts
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Prices for houses under contract?
Is there any way to look up the selling price? Or can you only see sold houses that have had their closing already?
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Posted 2/11/15 7:55 PM  |
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mommy2Alex
3 babies for me :)
Member since 5/05 6683 total posts
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Re: Prices for houses under contract?
I could be wrong but I think you can only find out sale prices after they have closed.
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| Posted 2/11/15 8:10 PM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
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L
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Re: Prices for houses under contract?
Only after closing. My neighbor and I purchased homes a few days apart. We gave what the sellers asked for after they reduced the price on the condition they took the house off of the market. They did. The other house was asking 20000 more for the same model. My new neighbor knew that there was our offer on our home , but not how much we offered. They ended up paying the 20000 higher price and closed two days later. Their house need more work and was not as good a location as it backs a main road. We looked for three years for our home.
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| Posted 2/11/15 9:32 PM |
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pumpkinmom
LIF Adult
Member since 5/12 2911 total posts
Name:
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Re: Prices for houses under contract?
Posted by LSP2005
Only after closing. My neighbor and I purchased homes a few days apart. We gave what the sellers asked for after they reduced the price on the condition they took the house off of the market. They did. The other house was asking 20000 more for the same model. My new neighbor knew that there was our offer on our home , but not how much we offered. They ended up paying the 20000 higher price and closed two days later. Their house need more work and was not as good a location as it backs a main road. We looked for three years for our home.
What is the condition they take the house off the market about? Very new to this...
That will probably be me- paying more for the lesser house. That's why I was asking, lol.
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| Posted 2/11/15 9:45 PM |
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TheDivineMrsM
2 girls 4 me!
Member since 8/08 7878 total posts
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Mama mama mama....
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Prices for houses under contract?
Could you email the realtor?
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| Posted 2/11/15 10:15 PM |
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Goobster
:)
Member since 5/07 27557 total posts
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:)
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Re: Prices for houses under contract?
That is only disclosed once the house has closed.
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| Posted 2/12/15 8:00 AM |
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Re: Prices for houses under contract?
Posted by TheDivineMrsM
Could you email the realtor?
The listing agent is bound by ethics to not disclose (even to other agents) the selling price of a home that up is "under contract." It could potentially harm their client's (the seller's) interests.
Let's say for example the house was listed for $400K and the seller agreed to $380K. If for some reason the house falls out of contract (say, buyer couldn't get financing), and the house goes back in the market. No one is going to offer higher than $380K if it's public knowledge that the seller will accept $380K. But perhaps there is a buyer that will pay $390K or even full asking? Perhaps market conditions have changed and the seller wants to list for a higher price. In any event, as an agent, you have to protect your client's interests, and as a listing agent, the concern is the seller.
The best thing a buyer can do to make sure they have full market information is to work with their own buyers agent. While they still won't have access to all contract prices, they can give you better (more complete and more accurate) market information about comparable sales than you will find on any consumer oriented website. We have more access to info through our broker version of MLS, plus through our relationships with other agents and the fact that any active agent has seen a lot of the recently sold inventory. As a practical matter, we may have info on contract prices (for examples, if a listing in my office goes into contract, I know or can easily find out the contract price, even if it's not my own listing). While I may not be able to outright disclose the info, I certainly can use all the info I have at my disposal to guide my buyers appropriately.
Message edited 2/12/2015 9:03:52 AM.
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| Posted 2/12/15 9:02 AM |
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HomeIsWithU
Baby #2 on the way!
Member since 9/07 7816 total posts
Name:
Jenn
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Re: Prices for houses under contract?
Only after they close. At that point you can check your county website or even Realtor.com or Zillow. They'll all list the sold for price.
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| Posted 2/12/15 9:10 AM |
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LSP2005
Bunny kisses are so cute!
Member since 5/05 19458 total posts
Name:
L
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Re: Prices for houses under contract?
Posted by pumpkinmom
What is the condition they take the house off the market about? Very new to this...
That will probably be me- paying more for the lesser house. That's why I was asking, lol.
we offered their asking price rounded up to the whole thousand, so it was $100 more than the asking price, but 20,000 below their original asking price. They had dropped the price that week. As a condition of making our offer we said ours is a take it or leave it offer, and you will cancel the planned open house, and take the home off of the market. They agreed to our conditions and we closed within a month. We had all of our financing in place with a firm mortgage commitment going through all pre-approvals so the only things left to do were inspections and that part of negotiations. We gave $1000 with the original offer and said we would give $5,000 for the next part and they wanted $10,000 so we said ok. We gave the rest of the down payment via wire two days before closing into the attorney escrow account.
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| Posted 2/12/15 9:18 AM |
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NYCGirl80
I love my kiddies!
Member since 5/11 10413 total posts
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Re: Prices for houses under contract?
Posted by pumpkinmom
Posted by LSP2005
Only after closing. My neighbor and I purchased homes a few days apart. We gave what the sellers asked for after they reduced the price on the condition they took the house off of the market. They did. The other house was asking 20000 more for the same model. My new neighbor knew that there was our offer on our home , but not how much we offered. They ended up paying the 20000 higher price and closed two days later. Their house need more work and was not as good a location as it backs a main road. We looked for three years for our home.
What is the condition they take the house off the market about? Very new to this...
That will probably be me- paying more for the lesser house. That's why I was asking, lol.
Houses come "off the market" when they are in full contract - meaning both parties have signed the contract. Until then, it's all verbal and nothing is really binding.
If you're worried about overpaying, I suggest you work with a buyer's agent (I recommend Christine!). They will help you by pulling comps of other houses in the area and offering recommendations about your offer. Ultimately, though, you have to pay (or offer) what you're comfortable with.
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| Posted 2/12/15 10:43 AM |
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