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Old 07-30-2021, 11:59 AM   #21
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I don’t think it’s creepy. Maybe you’re looking to sell (he doesn’t know) and decided to ask? If he’s being pushy, then that could get annoying, but maybe this is because he sensed that you might be open to selling?

I wouldn’t sell cheap or try to give him a reasonable deal. I’d also make it contingent on you buying a new home, in addition to getting a substantial amount over going prices (20%?). You’re potentially doing him a big favor if it’s for the parents.

Either way, it doesn’t hurt to ask him how much he’s willing to offer.
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Old 07-30-2021, 12:00 PM   #22
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I don’t think it’s creepy. Maybe you’re looking to sell (he doesn’t know) and decided to ask? If he’s being pushy, then that could get annoying, but maybe this is because he sensed that you might be open to selling?

I wouldn’t sell cheap or try to give him a reasonable deal. I’d also make it contingent on you buying a new home, in addition to getting a substantial amount over going prices (20%?). You’re potentially doing him a big favor if it’s for the parents.

Either way, it doesn’t hurt to ask him how much he’s willing to offer.

The OP doesn't want to move so why extend the conversation? He already said No once.
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Old 07-30-2021, 12:05 PM   #23
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The OP doesn't want to move so why extend the conversation? He already said No once.

Everybody has a price. If neighbor offers 1.2mil and OP can buy a nice replacement home for 1 mil and pocket 200k, maybe he’d change his mind?

And if the neighbor is flush with cash, maybe paying an extra 200k is worth it if he has a place next door for his parents?

I didn’t get the impression that OP doesn’t want to sell. I got the impression that OP wouldn’t do this if there wasn’t a substantial financial gain. It doesn’t hurt to see the numbers and then make a decision. But I agree, if the OP doesn’t want to sell at any price, then just say no.
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Old 07-30-2021, 12:18 PM   #24
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Everybody has a price. If neighbor offers 1.2mil and OP can buy a nice replacement home for 1 mil and pocket 200k, maybe he’d change his mind?

And if the neighbor is flush with cash, maybe paying an extra 200k is worth it if he has a place next door for his parents?

I didn’t get the impression that OP doesn’t want to sell. I got the impression that OP wouldn’t do this if there wasn’t a substantial financial gain. It doesn’t hurt to see the numbers and then make a decision. But I agree, if the OP doesn’t want to sell at any price, then just say no.
...


The first post says "he was kind of eager to buy my house"...when the OP said no the neighbor then added, but it was for dear old Mom and Dad.


You're actually assuming it's for dear old Mom and Dad, well if that's true there should be several close neighbors he could ask instead of pestering this one.
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Old 07-30-2021, 12:23 PM   #25
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If you decide to sell and sign with an agent, exclude the neighbor in the listing agreement.
This!


I'm in the process of selling my late cousin's house in Florida to a buyer who presented themselves before I signed with the realtor. As a result, I had them excluded from the listing agreement. Instead of the normal commission, I'm paying a flat $1,200 fee for the realtor to handle all of the technicalities, saving us over $24,000.
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Old 07-30-2021, 12:41 PM   #26
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It's not the pain of moving that would discourage me, but shopping right now. If you look in where your desired next home would be, prepare for sticker shock, and/or low availability. Your ideal next home is likely not available, or far more than you expect. So then what?

You agree to some premium price, and prepare to sell, and get ready to move. A month passes, you close, and now you're ready... Guess what? That next home is now another 10% more, and the only ones available are the smaller lots with no view. So you figure you'll rent for a few months, except you have to pay a year of renting, and now move twice. And while you wait, the prices go up another 10-20%.

That's why I wouldn't sell without a plan right now. And in lieu of that I'd say, we're not moving for the near future, but if we ever do, I'll let you have first dibs.

That said, I've often thought I might buy the house next door to us if the stars aligned. We're two homes on a corner, and they back onto us. But I wouldn't rent it or want to live in it, I would just hold onto it for investment and to avoid noisy neighbors moving in.
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Old 07-30-2021, 12:54 PM   #27
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...


The first post says "he was kind of eager to buy my house"...when the OP said no the neighbor then added, but it was for dear old Mom and Dad.


You're actually assuming it's for dear old Mom and Dad, well if that's true there should be several close neighbors he could ask instead of pestering this one.

I’m not assuming anything. It doesn’t matter what the neighbor uses the house for. As long as the neighbor is willing to pay, who cares what he uses it for?

And to touch on a point made in another post, in this market selling would be contingent on buying another house. This should be as close to zero inconvenience for OP if he decides to sell, because after all, he doesn’t need to.
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Old 07-30-2021, 01:11 PM   #28
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Similar for us.
After our next door neighbor moved out and converted her large house to 'very low income' housing (and the circus that ensued), I made her an offer: I'd assume all and any mortgages and give her $700K cash over and above.

She flatly refused, implying that I was trying to throw out 'those good people' and keep the neighborhood 'nice'. (well, yeah, that was the point!)

We moved. (actually, we closed on our old house a year ago today)
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Old 07-30-2021, 01:21 PM   #29
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OP there's a real shortage of listings right now if you choose to sell you should look in your area to see if there are any listings you're even interested in. Right now I see several FB posts weekly asking if anyone wants to sell their house to before they list it.
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Old 07-30-2021, 01:55 PM   #30
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Maybe not quite in the same league but Facebook CEO Mark Zuckerberg bought his four neighbors out in Palo Alto. Apparently there was a hold out and the reports are that he paid $14.5 million for a house that was valued at $3.2 million.

https://www.trulia.com/blog/mark-zuc...hbors-houses/#
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Old 07-30-2021, 01:58 PM   #31
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Maybe not quite in the same league but Facebook CEO Mark Zuckerberg bought his four neighbors out in Palo Alto. Apparently there was a hold out and the reports are that he paid $14.5 million for a house that was valued at $3.2 million.

https://www.trulia.com/blog/mark-zuc...hbors-houses/#

I would have charge him 20 or maybe even 40...
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Old 07-30-2021, 02:06 PM   #32
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OP there's a real shortage of listings right now if you choose to sell you should look in your area to see if there are any listings you're even interested in. Right now I see several FB posts weekly asking if anyone wants to sell their house to before they list it.
My area has many listings,but very inflated prices. Someone bot the house in the beginning of the year @675k and puts it on sale for 200k more!
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Old 07-30-2021, 03:17 PM   #33
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When we had rental properties, tenants would sometimes ask if we would be interested in selling the house to them. "Make us an offer" generally produced stammering. People don't even think that far, sometimes. They just think, "Gee, I like this place" and next thing out of their mouth is, "Would you sell?"

So, think of a number that would Make You Move, and have at him! Worse case is, you will call his bluff.
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Old 07-30-2021, 03:46 PM   #34
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....My net gain is 935K. ...
$935k is before capital gains taxes. Presumably $500k would be excluded if it is your principal residence but your tax bill would still be $60k at a minimum and that's federal only.

If you're interest in moving, you might be better to have him buy your replacement house and then do a 1031 exchange as that would defer the tax bill (I think... check wi your tax advisor).

You could agree to a "price", then you go shopping for your replacement house and he buys it and then you trade (plus or minus boot to the extent the replacement house is less or more than your agreed price).

It might even be in your same neighborhood or someplace that you have been pining for. It could be a win-win since he wants his parents close.
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Old 07-30-2021, 03:51 PM   #35
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I missed one thing. after we said no. he explained that he was buying for his parents, both early 80s.
that made me seriously think about it.
Can he drop one of those prefab "auxiliary dwelling units" in his backyard?
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Old 07-30-2021, 04:03 PM   #36
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Some friends of ours did something like that. They built small 2-bedroom 1-bath house on their daughter's large lot.... uses daughter's water and sewer, not sure about electric. It doesn't have a range but does have a large toaster oven and cooktop.
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Old 07-30-2021, 04:33 PM   #37
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I missed one thing. after we said no. he explained that he was buying for his parents, both early 80s.

that made me seriously think about it.


It was an obvious omission but that’s your prerogative. I’m sure you have your reasons, but it don’t see how his need should cause you to reconsider.

It makes me wonder why the neighbor wouldn’t be looking for a house where they could all live together.
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Old 07-30-2021, 04:52 PM   #38
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... It makes me wonder why the neighbor wouldn’t be looking for a house where they could all live together.
I think just about any spouse could answer that for you.
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Old 07-30-2021, 04:57 PM   #39
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I think just about any spouse could answer that for you.
+1

But not just spouse. Would anyone who could afford to casually buy a $800k+ house really want their parents living with them? Just saying.
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Old 07-30-2021, 05:07 PM   #40
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+1



But not just spouse. Would anyone who could afford to casually buy a $800k+ house really want their parents living with them? Just saying.

Could also be the parent’s money and not all parents want to live with their kids either.
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