Retirement and Coronavirus

[James48843]

Update for me-

WE GOT AN OFFER!

House has been on the market since August last year. Has about six showings in September/October, then... nothing, from Nov 1 until February 1.

Then showings picked up- had 17 more showings since then, and Thursday , got an offer.

It’s $30k less than my initial asking price, but it was reasonable.

We countered, signed a deal (about 20k lower than initial asking price), and were ready to move forward, when the “shutdown everything” hit.

This week we had to sign a 30-day Covid-19 closure shutdown addendum.

Cross our fingers we can eventually close. At least some of the pressure is off- I’m teleworking, and likely can hold on until the deal closes, even if it takes till fall to Lift the lockdown provisions.


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[dave123]

Thanx for the replies.

@evilanne: Zillow is a computer generated offer, they don't haggle.

@james: Great news! I'm happy for you. Can you give me some specifics on the 30-day Covid-19 closure shutdown addendum." I'm very curious.

Here is my update: I was supposed to get my final offer on Friday. My Zillow agent told me on Monday that Zillow has shut down all buying until the crisis is over.

Quite disappointed, my wife even cried, but it's not over yet. I'm still ahead of when I was originally going to put it up for sale. Although she has lost her job for the duration, I'm still working, even some overtime, so we are good.

I called my realtor and told her she had until Zillow called back to make something happen. She showed up the next day with a photographer and a sign in my yard, as well as another on the closest main street. No promises, but she seems upbeat. I signed the papers and it goes on sale Monday.

Oh, I had her numbers wrong before, her best case is actually 22k better than Zillow, not 17K as I thought. There is the possibility that Zillow pulling out could be to my advantage.

It's in God's hands now...

 

[dave123]

Well, Florida is locked down now. Lots of clicks for my home on Zillow, but don't imagine I will have anyone venture out looking for homes now.

Stay safe.

 

[dave123]

13 days on zillow. 1900 visits, 63 saves. 3 people have actually come to see the home Funny story, the power went out in my neighborhood minutes before the last one arrived and didn't come on until minutes after they left. No storm or anything, what luck I have

I'm a bit more optimistic..

 

[nnuut]

Darnit!

 

[dave123]

Thought I would drop an update:

Home visits are slowly picking up. About 5-10 a week now. Got a couple of low ball offers, but I would rather wait on Zillow than take either of them (Zillow should come online once the virus clears). I found another company, Offerup, which seems to have a program similar (and with better reviews) to Zillow. Of course, they are on hiatus as well.

I think I have a fair price, and the home is well placed in the market, so I'm willing to wait.

 

[dave123]

Well, lo and behold, I got an offer from a pre-qualified buyer that is right at what I wanted to get for the home, 7k less than my asking price, which is exactly what I marked it up (since everyone needs to feel they got a deal and talked the seller down). The "take home" would be enough to pay off the new home and do some upgrades. Oh, it would be the Zillow offer by 13k.

So, I signed the papers today. Assuming the inspection, appraisal, and everything holds, I would have the closing on the exact day that I'm forced to retire (buyer picked the day). So, I'm "cautiously[FONT=Roboto, arial, sans-serif]"[/FONT] optimistic at this point. I'm a bit worried it may not appraise high enough; cross your fingers.

So, you can sell a home now! The offer being exactly what I wanted to get, and the closing set for my last day at work - coincidence? I'll just say thanks to the good Lord.

Even if it falls through, this is a great sign!

 

[dave123]

Called Zillow yesterday, they are still not buying homes, estimated 30-45 days.

Another company, Offerpad, which actually has better reviews, is now buying homes, but not yet in my area. Since I'm in an are that was hit more than many (Miami), this makes sense.

Just posted this as an FYI, my home is under contract and hopefully I won't need these services.

 

[nasa1974]

Good news about your house.

Homes around here are averaging less then a month on the market and they are sold or pending.

 

[dave123]

Quick update.

A buyer came and offered more than I was asking. We signed the papers the first week of June. The ups and downs were terrible, and very stressful; much of which was blamed on the virus.

Finally closed yesterday! Thank God!

So, yes, things are still rolling. I got more than I was asking, and to be honest, was blessed that the home appraised high enough to make the deal go through. Things are slow and difficult, but you can sell your home during the virus.

Thank you all for your advice and well wishes.

p.s. I'm now in the dilemma of: Pay off the new home with the proceeds of the sale, or possibly pay off part, or just make payments and invest/enjoy the money. I have a thread about that and would welcome any advice.

https://www.tsptalk.com/mb/retireme...e-tsp-retirement-2.html?highlight=#post640235

Thanx again, and good luck to anyone reading this that is trying to sell a home.