Non Traditional Seller
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Non Traditional Seller (by Ray-N-Pa [PA]) Oct 6, 2022 8:18 AM
       Non Traditional Seller (by Ken [NY]) Oct 6, 2022 8:58 AM
       Non Traditional Seller (by Richard [MI]) Oct 6, 2022 9:22 AM
       Non Traditional Seller (by 6x6 [TN]) Oct 6, 2022 7:48 PM
       Non Traditional Seller (by GKARL [PA]) Oct 6, 2022 8:07 PM
       Non Traditional Seller (by Ray-N-Pa [PA]) Oct 6, 2022 8:43 PM
       Non Traditional Seller (by MJ [PA]) Oct 7, 2022 11:30 AM

Non Traditional Seller (by Ray-N-Pa [PA]) Posted on: Oct 6, 2022 8:18 AM

I made an offer on a place where the seller was non traditional. I am located in a couple hours away from Pittsburgh in a lake land area.

As it turns out the seller was the University of Pittsburgh. I was aware that they would bring up students up here so they could learn real life research methods in the environmental science field. The school has down sized this aspect of the program as it required the student researchers to live together in this 4 BR house out by one of our lakes. I guess this is how they are reacting to life in a post C-19 world.

All I know is the facilities manager for this satellite area showed me the place yesterday at 10AM and I had a LOI submitted by 4PM. The place isn't super flashy, but I do have a motivated seller.

I don't believe this University is alone. I would expect many colleges to be looking at how they do business and divesting assets that don't meet the current plans. I knew the facilities manager before hand and he reached out to me. If you happen to know someone in that department in your area, they should be able to point you in the right direction in your search.

I'll keep you posted if my Letter Of Intent is accepted

Non Traditional Seller (by Ken [NY]) Posted on: Oct 6, 2022 8:58 AM

Ray,I thought a LOI was a New York city thing,I just make a verbal offer then write it up if accepted. --74.77.xx.xx

Non Traditional Seller (by Richard [MI]) Posted on: Oct 6, 2022 9:22 AM

I've seen a couple old Boy Scout and Girl Scout camps for sale in the last year too. Things seem to have changed a lot in those organizations in the last few years and some of the old camps are no longer used. Might be another thing to look into. --24.180.xx.xx

Non Traditional Seller (by 6x6 [TN]) Posted on: Oct 6, 2022 7:48 PM

There are students camping out for days here, to get a rental in a new apartment complex at the college.

Non Traditional Seller (by GKARL [PA]) Posted on: Oct 6, 2022 8:07 PM

Ray, my son graduated from Pitt this year and still resides out there. I get out there on occasion to visit him and the Pittsburgh real estate market is intriguing to me. First off I really like Pittsburgh however the development seems haphazard at times. From what I can see it's a solid market and affordable.

Non Traditional Seller (by Ray-N-Pa [PA]) Posted on: Oct 6, 2022 8:43 PM

Let me know when you are out west here. I am about 90 minutes north of Main Campus but can travel down. They have a small tiny satellite branch about 30 minutes away from this place over in Titusville. They will selling places in that town too. This one place is located not far from Lake Pymatuming

I am told they put about eight "researchers" here for 6, 8, 12 or 16 week stints walking the Linesville Creek and staring at trees. Me, I stare at trees and notice that Oak is over 80 ft tall and worth cash....they see it and want to hug it

Non Traditional Seller (by MJ [PA]) Posted on: Oct 7, 2022 11:30 AM

From my experience University of Pittsburgh sells real estate at much higher than average market values. They are crazy o deal with and their properties sit on the market for many years and years. You cannot make a verbal offer like you would with a traditional seller/person. There is a lot of protocol and policy and mostly its through their real estate agents and never directly with the University.

GKARL: Pittsburgh is an awesome place and my hometown. Let me know if you ever come over and have any questions about real estate market here. We have $40K houses (livable) here and $14 million dollar condos too.

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