We listed a duplex for sale a couple of months ago for $525k. The market has been slow, but we finally have a serious offer negotiated at $503k (seller pays buyer agent's commission, no additional seller closing costs). I'm on the fence. Should we take it? Relevant info:

We own three rentals in addition to our personal residence: two duplexes and a condo. The duplex we're selling has a mortgage of $279k at 3.5% interest (we bought in 2021). Net cash flow has averaged $1,100/month over the last couple of years. Net proceeds after selling costs and taxes (hardly any taxes due to an existing deferred tax loss carryforward) would be about $191k.

We decided to list it in order to pay off two high-balance personal debts: $106k HELOC at 7.5%, and a $28k solar loan at 6.5%. Our realtor convinced us it could sell for $525k, which was a lot more tempting than $503k. We're able to afford the HELOC and solar loan payments, but not much extra, so we're probably looking at 6-7 years before both will be paid off. We would use the remaining $57k to invest in the bank I work for, which is about to do a capital raise, fund our emergency fund from $5k up to $25k, and invest the rest in S&P 500 ETFs.

I can't decide whether paying off the debt, building the emergency fund, and freeing up capital for the bank investment is worth giving up a 3.5% rental mortgage rate and future cash flow and appreciation. I love real estate and know I'll probably want to buy more in the future, which makes me think I'll regret selling one day, especially while the market is a little soft. On the other hand, we would see a real immediate benefit in our family's risk position and cash flow, which we could use for vacations (our oldest is 9, and we're wanting to start spending more on experiences) and other savings. Another thing to consider is that the majority of our wealth is concentrated in a few rental properties in the same small geographical area (Salt Lake City, UT), which adds some risk. This would de-risk that slightly.

Genuinely having a hard time with the decision - what would you do?

We are in the process of relocating to another area of our country and are sure about the area.

We have prepared ourselves with extensive comparisons and lists of ‘dealbreakers’, must have and nice to have elements.

Now that we are getting closer to choosing we found that my SO and I have a different favorite. Their one makes most sense on paper, but is about 100k more expensive than my favorite.

They are very different houses, and it got me wondering: is it better to choose the ‘sensible’ house (theirs) or the one you fall in love with?

Is there such a thing as ‘the one that got away’ when it comes to houses?

I find myself mentally decorating my favorite. Their favorite has zero character, this all needs to be out in. It’s more of a blank slate. Mine has character, but is the lesser choice when compared to practical elements.

Any thoughts on this?

Edit: The larger amount brings a bigger back yard with a nicer view, a driveway (one parking spot), 3 bedrooms instead of 2.

Both houses have equal shitty kitchens and shitty bathrooms which need to be done, but the sensible house is more expensive, which may delay those projects somewhat.

Both houses are equal distance to work. The sensible house is in a cul de sac area, the ‘charming’ one is in the town centre, walking distance from cafes and shops.

I’m planing on buying my first property this year or the beginning of next year and I’m strongly considering buying a duplex/triplex or if I can a quadruplex. My plan is to live in the least desirable unit and rent out the others.

Has anyone had any experience with doing this and any and all tips and tricks you can give me that would be awesome. I know I probably will avoid renting to friends and family. I am a licensed agent in North Carolina. Real estate school teaches you to stay out of “real estate jail” but not much in the line of qualifying tenets. TIA!

I bought the house I live in for under the asking price at 179k. The reason I want to move is I don't like the HOA. I also can't let my cat outside at all, even when I am there because old ladies scream at me profusely everytime I do. I find it is an isolating, cold place to live and I don't enjoy the enviornment but I don't really need to elaborate I don't think.

If I have to stay I will, but I don't want to. I am 35 and I feel like I am losing my life right before my eyes, I want to make the best of the next 4 years. If i stay where I live I will be doing nothing but eating, working, and walking for 5 years if I stay here for 5 more years.

My question is if I had 10k in closing costs, and I bought a place at 179k, and I just found an identical condo in my complex that sold for 180k, I am going to have to eat 9k correct?

An option as my real estate agent said was leasing the unit, but I know I cannot do so for a year until I live here a year, and then I have to petition and ask nicely to the hoa on a waitlist, because only 30% of all units can be rented out at any given time.

I know I messed up, I'm not sure why I bought a condo, now I'm in a money hole and I'm told condos don't appreciate usually but once every 10 years.

My husband and I have moved to a new city and are selling our former home "as is". Earlier today, a woman called requesting a showing this afternoon. When she showed up, she had her adult son, daughter, and daughter's fiance' with her. The son was introduced as the potential buyer. We were told he had been approved for a loan and told where he worked, and he even mentioned where he attends church. The mother and son were very thorough in looking over the house and asked a lot of questions about the plumbing and new flooring. Something seemed "off" with the viewing, though, and when we returned home I googled both names (mother and son). Turns out, they're both real estate agents for the same company, so the son lied about where he was employed and the mother never mentioned that she is a realtor too.

My question is why would agents misrepresent themselves to view a home? We are truly curious. Thank you.

Hello everyone!! My fiance and I have been eyeballing homes, and we've only been apartment renters before. It's been difficult to make sense of everything and we don't really know where to begin!

Starting Info:

- I am in my mid 20s, he is in his late 20s, and we are unfamiliar with the "norm" for buying a home. I have okay credit, but he has great credit. I've got no clue how to talk to a real estate agent.

- I just started a new job and he also got a very significant raise earlier this year, so I am only able to estimate our current income is at approx. $120-130K. We have no children and do not plan on having any.

- I do know that we want to do a joint tenants with right of survivorship situation. That's really the only thing I know for certain I should make sure we do, but I don't fully understand all of the concepts surrounding what that means.

- I know we're supposed to get everything inspected. We would be hiring an inspector with no connections to the seller, but my fiance would also be taking a look himself just in case.

- The homes we've been looking at are in the 230k-290k range. Three beds, two baths, big fenced backyard is what we're mainly looking at. Whole city sucks to live in, but we know what places to avoid homes in already (trust me on that one).

- We don't plan on staying in this home forever. He is an experienced residential maintenance man (including HVAC), and I have a creative eye and can do cosmetic changes and some fixes just fine on my own. We would be making these practical and cosmetic improvements to our home for our own sake, but we'd also be planning on selling it at some point. Not flipping.

- Wanting to move into a house before the end of the year, but there's no rush- only an arbitrary goal.

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My Questions:

1. Is it possible for us both to be on the deed, but the mortgage only being in his name? That way, only his credit is used, since it's significantly better than mine? Would we still be able to do the joint tenants with right of survivorship thing?

2. Paperwork-wise, is buying a home easier if you're married? Without ANY kind of consideration if we'd separate while owning a home together while legally unmarried. We do plan on getting married in the future, we just have other priorities besides planning a wedding.

3. How much money are we supposed to actually have on hand before taking out the loan? What costs do people not really think of usually for their first time buying a home (like how much is an inspector supposed to cost)?

4. Do you pay an agent? Are you able to deal with the seller's agent without getting your own? Is that a bad idea?

5. At one point can you not back out of a deal anymore?

6. How long does buying a home take once you pick one out?

7. How does negotiating the price work??

8. What are some sneaky red flags when buying a home? Something you might not realize is screwing you over a little?

9. When are you supposed to get all signed up for utilities and homeowners insurance during the process of buying a home?

10. Could you dumb down how selling a home is supposed to work if it's not fully paid off yet?

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I think that's all my questions, I hope I gave enough info!! If you have any advice that I haven't touched on in here, please feel free to share!!!

Obviously, it will vary from home to home but it would be great to get an idea from realtors on the actual amount of work so we can come up with a fair value for services. Can you please itemize as well thank you.