| Posted By |
Message |
|
|
If you were selling a house what is the least amount of profit you were willing to take?
Everyone know's what they bought their house for so lets say you needed to sell it. You use a broker and the commission is 5%. What is the lowest amount you are willing to make on your home after your mortgage and the commission fee is paid?
I am curious to see what people are willing to take.
|
Posted 4/2/07 11:41 AM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
kerrycec03
Mom of 2 beautiful boys!!
Member since 6/06 13519 total posts
Name:
Kerry
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
we would love to make something on our condo eventually. (granted we've only been there for about 1 month).
It really would depend on the market and such.
|
| Posted 4/2/07 11:43 AM |
| |
|
|
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
Lets say the market stayed like this for the next 5 years?
|
| Posted 4/2/07 11:46 AM |
| |
|
SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
It depends on your situation. Ideally I think I would like to make enought to have a 20% down payment on my next home, but I don't know how feasible that is if we are talking only 5 years in today's market.
|
| Posted 4/2/07 11:48 AM |
| |
|
Kidsaplenty
Sister love
Member since 2/06 5971 total posts
Name:
Stephanie
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
I would want to make enough to put 20% down on the next house,
|
| Posted 4/2/07 6:01 PM |
| |
|
Eleanor
LIF Adult
Member since 2/06 2223 total posts
Name:
Ellie
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
Minimum: I would want commission, improvements, interest paid and taxes covered. Anything on top of that is icing.
|
| Posted 4/2/07 6:49 PM |
| |
|
MrsSchwags
Soccer Baseball Lax Mom
Member since 10/05 11240 total posts
Name:
Jennifer
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
Posted by Eleanor
Minimum: I would want commission, improvements, interest paid and taxes covered. Anything on top of that is icing.
me 2.
|
| Posted 4/2/07 7:54 PM |
| |
|
Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
Enought to upgrade into another home with increasing our mortgage by less than 20%.
|
| Posted 4/2/07 8:31 PM |
| |
|
cjik
Welcome 2010!
Member since 2/06 8879 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
Enough for the downpayment on my next home, and enough to cover renovation costs. Beyond that, I don't think I would look for much profit, esp. not now.
|
| Posted 4/2/07 9:16 PM |
| |
|
oakslady
LIF Adult
Member since 8/05 969 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
Posted by Eleanor
Minimum: I would want commission, improvements, interest paid and taxes covered. Anything on top of that is icing.
ditto same here
|
| Posted 4/3/07 6:13 PM |
| |
|
sunnyplus3
:)
Member since 11/05 8749 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
If I were selling my home in todays market I'd would be considering that I'll likely get a good deal on the house I plan to buy, so I'd really just want enough to cover my mortgage & what I put into it, profit would be sweet but I wouldn't count on it being huge today.
|
| Posted 4/3/07 8:06 PM |
| |
|
Jenhos
Maeve
Member since 6/05 3273 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
No less than 75k more than I paid.
|
| Posted 4/3/07 8:25 PM |
| |
|
NJmom
.
Member since 8/05 4987 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
we just listed our townhouse and are hoping to make enough profit just to cover the commission. we've only owned it for 2.5 years and didn't do any major renovations so we're not expecting much of a profit especially in this market.
|
| Posted 4/3/07 8:48 PM |
| |
|
Calla
My girls
Member since 7/05 4303 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
I'd be willing to take a loss. Why would you assume you get to make a profit just because some time has passed? If its time to move, you take the best price that the market allows high or low. Considering at this stage most of us would be selling to upgrade you stand to save more on the bigger house than you'd lose on your sale.
|
| Posted 4/3/07 9:11 PM |
| |
|
bikramaddict
mommy-to-be
Member since 8/06 4376 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
enouogh to upgrade to a bigger house withiout upping the mortgage payments.
|
| Posted 4/4/07 5:35 PM |
| |
|
Pumpkin1
LIF Adult
Member since 12/05 3715 total posts
Name:
|
Re: If you were selling a house what is the least amount of profit you were willing to take?
It really depends on when you purchased your home. If you purchased it prior to 2000, you should expect a handsome profit since home prices skyrocketted. However, if you purchased it within the last few years, your profit will be marginal (if any) because the market has stagnated. Additionally, it would depend on whether your moved is prompted by a desire to upgrade or a relocation.
I am not a homeowner, so I can't personally answer. However, I would think I would be satisfied with enough profit to cover all closing costs and the 20% down payment on the new home.
But, like I said earlier, it all depends on when you purchased your home.
|
| Posted 4/4/07 6:36 PM |
| |
|
