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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Open House?
Listing my home ourselves and planning an open house. Has anyone been to any lately? Are they super crowded? Should I plan on having extra hands there to help w tours?
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Posted 2/11/22 9:02 PM  |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Open House?
I haven’t but I don’t know that I’d even have an open house in this market, particularly if the house is in a desirable area.
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| Posted 2/11/22 9:30 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Open House?
Really. Why not? I am in a desirable location. Merrick.
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| Posted 2/11/22 9:38 PM |
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LuckyStar
LIF Adult
Member since 7/14 7274 total posts
Name:
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Open House?
I’d suspect the house would go quickly without the hassle of an open house. Especially in Merrick.
If you do have one I think you can allow only one or 2 potential buyers in at once to make it more manageable.
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| Posted 2/11/22 10:10 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Re: Open House?
Thanks! I agree. We were going to be a team of 3..each manning a floor! Thanks!!
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| Posted 2/11/22 10:21 PM |
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lululu
LIF Adult
Member since 7/05 9511 total posts
Name:
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Re: Open House?
Just make sure you get photo Id and require people to sign in. I always get afraid of people casing the house for a robbery.
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| Posted 2/11/22 10:23 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Open House?
Yes Thanks! I made a sign in sheet!
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| Posted 2/11/22 10:23 PM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Open House?
I'm in the market and shopping around. Because of covid, most sellers are doing scheduled apps. But I know that puts a burden on you.
Open houses are longer and slower with only one family in the house at a time (again, because of covid). I'm seeing them over two days to allow for all to see.
The ones I've been to... only one person in the house showing.
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| Posted 2/11/22 11:16 PM |
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pnbplus1
Family
Member since 5/09 5751 total posts
Name:
Mommy
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Re: Open House?
My parents' house on LI was recently sold (w/ agent). They had an open house the 1st weekend and they had a long line of people waiting outside to see it. Had 3 offers by the next morning, all over asking, and 5 more offers all over asking came in during the week. They did the open house and some 2nd showings that 1st week and that was it. So for them, having the open house made the process quick and easy, and was worth it to get so many showings done quickly. There was never even a for sale sign in front of the house.
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| Posted 2/12/22 10:46 PM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Open House?
We had one showing today and they offered $30k over asking.
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| Posted 2/13/22 3:24 PM |
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FirstMate
My lil cowboy
Member since 10/10 7790 total posts
Name:
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Re: Open House?
Posted by hotelcalie
We had one showing today and they offered $30k over asking.
Wow!!! Well done with a FSBO! Kudos!
I was going to say there was an open house up the block from me on Saturday that had over 60 people show up. I could not believe the line out the door, down the driveway and down the road. Insane market.
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| Posted 2/14/22 11:20 AM |
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angelicd77
LIF Adolescent
Member since 12/13 794 total posts
Name:
Kim
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Re: Open House?
Posted by hotelcalie
We had one showing today and they offered $30k over asking.
Just make sure that the buyers have the cash to cover any potential appraisal gap. A LOT of houses are coming back on market because of short appraisals and people not having the cash to close the gap. You don't need that headache once you get further into the process.
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| Posted 2/14/22 12:33 PM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Re: Open House?
Posted by angelicd77
Posted by hotelcalie
We had one showing today and they offered $30k over asking.
Just make sure that the buyers have the cash to cover any potential appraisal gap. A LOT of houses are coming back on market because of short appraisals and people not having the cash to close the gap. You don't need that headache once you get further into the process.
yes to all of this. i have seen a lot of houses come back on the market because of this very reason. people get excited to buy a house, they know they can afford the monthly payment at the higher price but haven't done the research to understand how appraisals and mortgage amounts affect one another.
but... way to go!
side note: DS and i just made an offer on a second house (first one wasn't accepted), we're well below our budget... we offered $31k over asking. a little part of me dies when i think about it, but that's the current market.
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| Posted 2/14/22 12:45 PM |
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angelicd77
LIF Adolescent
Member since 12/13 794 total posts
Name:
Kim
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Re: Open House?
Posted by MarathonKnitter
Posted by angelicd77
Posted by hotelcalie
We had one showing today and they offered $30k over asking.
Just make sure that the buyers have the cash to cover any potential appraisal gap. A LOT of houses are coming back on market because of short appraisals and people not having the cash to close the gap. You don't need that headache once you get further into the process.
yes to all of this. i have seen a lot of houses come back on the market because of this very reason. people get excited to buy a house, they know they can afford the monthly payment at the higher price but haven't done the research to understand how appraisals and mortgage amounts affect one another.
but... way to go!
side note: DS and i just made an offer on a second house (first one wasn't accepted), we're well below our budget... we offered $31k over asking. a little part of me dies when i think about it, but that's the current market.
Good luck with your offer!!!
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| Posted 2/14/22 1:27 PM |
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MarathonKnitter
HAPPY
Member since 2/07 17374 total posts
Name:
EMBRACING CHANGE
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Re: Open House?
Posted by angelicd77
Posted by MarathonKnitter
Posted by angelicd77
Posted by hotelcalie
We had one showing today and they offered $30k over asking.
Just make sure that the buyers have the cash to cover any potential appraisal gap. A LOT of houses are coming back on market because of short appraisals and people not having the cash to close the gap. You don't need that headache once you get further into the process.
yes to all of this. i have seen a lot of houses come back on the market because of this very reason. people get excited to buy a house, they know they can afford the monthly payment at the higher price but haven't done the research to understand how appraisals and mortgage amounts affect one another.
but... way to go!
side note: DS and i just made an offer on a second house (first one wasn't accepted), we're well below our budget... we offered $31k over asking. a little part of me dies when i think about it, but that's the current market.
Good luck with your offer!!!
thanks.
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| Posted 2/14/22 1:40 PM |
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busymomonli
Resident Insomniac
Member since 4/13 2050 total posts
Name:
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Open House?
My next door neighbor had one this past weekend and there was a line of people up the driveway. I think they were only allowing so many people in the house at once. I would enlist some help if you can.
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| Posted 2/15/22 7:25 AM |
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hotelcalie
LIF Adult
Member since 12/05 1392 total posts
Name:
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Open House?
Thanks all...we have been flooded with activity. UGH. I hate this process.
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| Posted 2/15/22 2:50 PM |
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JennP
LIF Adult
Member since 10/06 3986 total posts
Name:
Jenn
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Re: Open House?
Good luck! Glad you are getting lots of activity. As stressful as it is, this is much better than no activity! That invites an ultimately much worse stress.
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| Posted 2/15/22 4:24 PM |
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FirstMate
My lil cowboy
Member since 10/10 7790 total posts
Name:
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Re: Open House?
Posted by hotelcalie
Thanks all...we have been flooded with activity. UGH. I hate this process.
This is when a realtor comes in handy because they vet all of the buyers. Make sure you get pre-approval letters from any potential buyer. The highest bidder is not always necessarily the best. If you have a cash offer, take that. That's the strongest. If not, then I would next consider who is putting the most money down. If you have someone willing to put down more than 20%, that is a strong offer and a bank may waive the appraisal. I have seen that quite a bit in recent times. Your lawyer will put language in your contract that will prevent the deal from falling through due to an appraisal gap. But, to be honest, a portion of my practice is real estate and very few of my deals have had any issue appraising in the past year or so. If you have any questions, you can PM me.
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| Posted 2/16/22 10:48 AM |
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soontobemommyof2
My boys...my everything <3
Member since 4/15 3635 total posts
Name:
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Re: Open House?
Considering the market is so hot for sellers, u should be able to sell ur house very soon 
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| Posted 2/16/22 10:55 AM |
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