Update on the buyer asking for 20 repairs Real Estate |
- Update on the buyer asking for 20 repairs
- Seller said repairs were complete but...
- Frustrated short sale listed as “Active” but agent claims deep somewhere in the web an offer was submitted by another buyer pending bank approval...legit or is my agent sabotaging me because it’s not his listing?
- Question about selling a house when one party doesn’t want to sell
- Adding common property to your lot.
- Home Buying Advice: Late 20s, new job...Sell, buy, then buy again??
- Legally required to have home inspected before moving in?
- Need help negotiating repairs. [PA USA]
- [PA] Listing on Craigslist, Agent has no info
- Land or house?
- Changing jobs prior to closing FHA loan
- Sellers already had home inspection completed..
- new home construction walkthrough questions
- Comparables for RE valuation, How to display professionally?
- How much do I actually need for first apartment?
- Forms And Process For Selling Just The Parking Space of a Condo
- How to deal with insane leasing manager and is this legal
- (WA)Do I have to get an inspection?
- Lender suggested not to lock in rates until closing (July) - is that solid advice?
- Property Tax protest; howto? Travis County, TX
- Selling our first flip. Have no clue what to do now.
- Bumpy negotiation - need advice
- First time homebuyer; please help me navigate the pitfalls!
| Update on the buyer asking for 20 repairs Posted: 05 May 2018 07:27 PM PDT I wasn't really planning on giving an update but since I got so many responses to this post from yesterday I figured I'd keep ya'll in the loop. Here's the latest: We offered the buyer three options 1) they accept the repairs we already agreed to and nothing else, 2) we repair everything except the fireplaces if they agree to increase the purchase price by $4k, or 3) we repair nothing but give them a $2,500 credit at closing I also told my agent "One of these three options is our final offer. We will not accept a counter." This evening my agent sends me an updated repair list. Despite me telling my agent we would not accept a counter, the buyer STILL countered. She did remove a few items (foggy glass door, fireplace stuff, insulation stuff, and attic staircase) but there are still a few things she's asking for that we did not agree to originally (fixing the grade, fixing the brick, replacing the microwave, and replacing the lamp post in the front yard) I almost want to say no on principle since we already stated we would not accept a counter but I don't know if it's worth the headache of losing the sale. I will concede, we will be really frustrated if we end up having to relist the house. At this point it's been off the market for a month and we're trying to buy a lot so we can build a house so we do want to sell our house in the relatively near future. But I also feel like this buyer is really asking a lot especially after we gave her three options and stated we wouldn't accept a counter and she still countered with additional repairs. I'm not sure if she's calling our bluff or if she's really willing to walk over these remaining issues. My agent is kind of pressuring us to take it and I'm not sure what to make of that. He says he's not sure how likely we'll be to get another offer close to asking in a reasonable amount of time if we lose the contract but I'm thinking he just wants to get paid sooner, you know? It was on the market for a while before we got an offer BUT we intentionally started our asking price at a very optimistic price point because we weren't in a hurry and thought we'd just see if we could potentially do better than we thought we could. Once we lowered it to something more realistic, the offer came in under 2 weeks. I'm very frustrated that she countered. I was really hoping she'd either pick an option or bow out so at least I'd know where we stood. Even though it's only a few extra things, I feel like we have to say no just on principle. I don't want to lose the contract but I also don't know if she's actually willing to back out over these remaining issues. We have to reach an agreement by 9 PM tomorrow so I guess we'll find out one way or the other. My husband was going to bed when we got the email and stated he didn't feel like putting thought into it until morning so I'm not sure what his opinion is yet. If we say no I guess we just have to accept it is a gamble that may result in us having to go through the headache of relisting the house. At least we know now to add a few exemptions to the next contract (i.e. fireplaces are as-is, not willing to make repairs that are cosmetic in nature, etc) so some of this may be mitigated in the future. [link] [comments]  |
| Seller said repairs were complete but... Posted: 05 May 2018 04:37 PM PDT Ohio if it matters. Went for our final walkthrough today. Our agent said seller's agent told her repairs were complete. We agreed on wiring in garage fixed, leaking gutters fixed, and a damaged and rotting window fixed. We show up this morning and nothing is fixed but the garage door is open and trash is all over the yard. Our agent said she was going to contact the sellers agent and ask what the hell is going on, but I just want to know is this common? We're supposed to close in 6 days (5/11) and I guess I would like know what to expect within those next six days. Thanks in advance. [link] [comments]  |
| Posted: 05 May 2018 01:58 PM PDT Advice? The house is clearly listed as active everywhere and my agent was able to get us in for a viewing of the property, yet now after we've placed an offer he's claiming that another buyer has made an offer and even though there's no information on when this other offer was made, if it is real, or if it is an old offer that was rejected. As stated above the house is very clearly listed as "For Sale" and "Active" [link] [comments]  |
| Question about selling a house when one party doesn’t want to sell Posted: 05 May 2018 03:00 PM PDT So quick background, we live in Texas and absolutely need to sell our house. We can not afford it and have other debts to pay. So my question, what happens if one party refuses to sell? Is there any way to sell the house in this situation? If they just refuse to sign the papers does that end the sale? [link] [comments]  |
| Adding common property to your lot. Posted: 06 May 2018 01:24 AM PDT So I'm in a 12 townhouse strata and in the back left corner of the lot I am next to a rather large unused chunk of common property. I want to fence it off and add it to my lot, but I'm sure it's a lot more complicated than that as technically the other 11 owners are losing their chunk of the common property. Does anyone have any experience in a situation like this? Location: Australia [link] [comments]  |
| Home Buying Advice: Late 20s, new job...Sell, buy, then buy again?? Posted: 05 May 2018 08:46 PM PDT My husband and I bought our townhouse in the suburbs of Philadelphia 2 years ago for $180,000 and we were planning on staying here for 5-8 years to save as much money as we could and before our *future* children would start school. We then hoped to move into a bigger house and stay there for many years. Curveball...My husband just got an amazing new job with a higher salary, but will now have an hour commute. He said he's willing to do the commute for a year or so. That being said...Our neighbor just sold their house in 5 days for $25,000 more than what we bought ours for and our house is very comparable. Do we: A) Sell our house now? Even if we sold for $5,000 less than our neighbors we'd make $20,000, not including closing costs. And then...(all options being closer to his new job) A 1.) Buy a house similar in price but just closer to his job? (With plans to buy a larger house in 5-8 years) A 2.) Buy a newer townhome which would be about double+ the price of our current home (With plans to buy a larger house in 5-8 years)....at this time, this is kinda what I want to do, but is it cost efficient buying/selling 3 houses in a 10-12 year time span? A 3.) Buy our dream house with plans to stay for years to come? B) Wait, see how his commute goes and see how the market is doing a year from now and go from there. Please and thank you! :) [link] [comments]  |
| Legally required to have home inspected before moving in? Posted: 05 May 2018 04:54 AM PDT edit: resolved. I bought a home from a neighbor in Missouri and neither party had an agent. My dad said the house must be inspected by the county before I am legally allowed to move in. He says the county requires certain things to pass code before a house is livable. But I cannot find a single link online indicating that is true. Is this true?.... [link] [comments]  |
| Need help negotiating repairs. [PA USA] Posted: 05 May 2018 06:52 AM PDT Asking price for house was $215k. We offered $223k with no seller's assist. I don't think there was any significant competition at the time of our offer and the sellers quickly accepted as we were considerably over asking. We have a 20% down payment and $8500 in closing costs. We set aside $5-10k for repairs/potential upgrades (adding central air and refinishing floors). This is a 100 year old brick rowhome so we expected some issues, but the property was a rental so we expected it to have regular maintenance performed. It seems like some areas were neglected. The home inspection found that the house needed:
Additionally, we discovered three errors in the listing:
Between our down payment, $8k in closing costs, and small upgrade fund, we simply cannot afford all of these repairs. It also means scrapping our plans to refinish the hardwoods and install central air as the house in the current state can't support those things. What is reasonable for us to ask for in this situation? Our realtor is suggesting asking 6% back in sellers assist, but if I'm doing my math correctly, that means $14k minus 8k closing costs = only $6000 to make repairs which doesn't sound like enough for all of these issues. [link] [comments]  |
| [PA] Listing on Craigslist, Agent has no info Posted: 05 May 2018 04:08 PM PDT Saw a listing on Craigslist in the "real estate - by broker" section. The ad names a local Realtor office. My Realtor contacted that office and they have no information on that address. I drove by the property and there is no for sale sign. I researched the history of the property: husband died 10 years ago, wife died this past fall. What is going on? Is this some sort of scam? Is it appropriate for me to respond via Craigslist asking for further information? Or should I request that my agent does? [link] [comments]  |
| Posted: 05 May 2018 09:08 AM PDT My husband is active duty, we are currently living in Kansas. We rent a house at a decent price. Ever since before we moved here I have believed buying a house would be a great idea, that way we could rent out when we move. Our lease is almost up so good timing. He found a piece of land (50 acres for 50000, good deal, but we would need to build still.) he wants to buy in MONTANA. We won't be living there anytime soon due to his occupation, and will only be able to go maybe 2/3 times a year, although I'm not against living there. He wants it now, I think it would be a better idea to purchase a home first that we could actually use NOW. What do y'all think? May I add he's trying to buy this land before we even get a chance to go see it in person. [link] [comments]  |
| Changing jobs prior to closing FHA loan Posted: 05 May 2018 08:54 AM PDT I got a job in a new city about 50 miles away. I'd been commuting while house hunting. My significant other and I found a house, put in an offer, and got it accepted. At the same time, she found a new job in new city and is expected to quit her old job and start her new job the week of tentatively scheduled closing (end of May). The new job pays about $10,000 better. So on one hand, I would like to think that this is unabated good news, but on the other hand, I'm a little worried that having a brand new job where she has no paystubs is going to make the lender nervous. It's the weekend, so no sense in telling our broker or real estate agent until Monday. In the meantime, I'm curious if real estate redditors have any thoughts, advice, horror stories, etc. Does anyone think that we should just sit on this information until the loan closes and hope that it doesn't come up? Thanks. Edit: Hi location-bot. We're in Oregon, USA. Postscript (so far): Loan officer wrote back (I was a little surprised, lord knows that I don't respond to clients over the weekend) and just said "Wow, great news. I'll update your application accordingly." Maybe/hopefully I was worried over nothing. [link] [comments]  |
| Sellers already had home inspection completed.. Posted: 05 May 2018 08:52 AM PDT How normal is it for the sellers of a home to already have had an inspection done that buyers can view before making offers on the house ? trying to figure out the motivation behind the seller doing this? We are very interested in making an offer on a home and have already been provided a complete inspection report, and our plan is to waive the inspection to make our offer more competitive. Is this a bad idea on our part? [link] [comments]  |
| new home construction walkthrough questions Posted: 05 May 2018 07:03 PM PDT We just signed a sales contract with a national builder on a new home in the PDX metro area. However, this home is already in progress (scheduled to be complete last week of May) and so we are cramming several walk throughs into the next couple of weeks while they finish. They still want us to get a pre-drywall walk through (even though the house is almost completed) and be able to meet with the construction manager etc. What questions should we be asking, knowing that they are pretty much down to finish work and landscaping. We do plan on hiring our own inspector before we close. edit: Portland Oregon [link] [comments]  |
| Comparables for RE valuation, How to display professionally? Posted: 05 May 2018 06:21 PM PDT I am trying to present real estate comparables to professional investors. Specifically for multifamily/mixed use buidlings. Does anyone have a template/format to display to professional investors? I am not sure what goes in the presentation considering the ease of getting the public information. What specifically is presented? Lot dimensions? Total square foot? Number of bathrooms? number of bedrooms? Number of commercial units? How do you discount/adjust for these things? I have a background valuating companies. For example we would use EV/EBITDA multiples. Thanks for your help! [link] [comments]  |
| How much do I actually need for first apartment? Posted: 05 May 2018 05:46 PM PDT Hello I was wondering if someone can tell me how much $$ do I actually need if I am to buy a $200,000 apartment? How much is needed in the beginning costs of hiring a realtor, inspection, etc, and how much for closing costs? If I save 10% for a down payment- 20,000 how much more do I need to purchase the place? I live in Canada. Thanks [link] [comments]  |
| Forms And Process For Selling Just The Parking Space of a Condo Posted: 05 May 2018 05:44 PM PDT I want to sell just the parking space of my condo. Not the condo itself. I'm in Oregon. What is the process I need to go through to do that and where would I get the forms/contract for doing by this? Also, I want to make the sale contingent on me being able to sell my condo separately without the parking space. Otherwise, if I can't sell my condo for the price I want by itself. I want to have the right to keep the parking and sell it with the condo. how can I add that clause to the contract? [link] [comments]  |
| How to deal with insane leasing manager and is this legal Posted: 05 May 2018 04:34 PM PDT I rent an apartment in a multi family apartment building owned by a giant corporation in Florida. Since I've moved in, there has been constant problems and issues that the leasing manager has refused to fix, many of which are code and safety violations. Anyway, now that I've given you that background, here is my main issue I'm writing about. Because of all the problems, I can't continue renting here. When I signed my lease, I was given two options for early termination of lease. One was to pay two months rent and the other was to give notice and then the apartment would put my apartment on the market and rent it out for my move out date. That's the option I chose and gave my notice for May 20. Management said that someone already filled out the application and gave a deposit for my place. I asked if that means I'm out of my lease for May 20, and the the leasing agent said that I'm not out until the next tenant signs a lease. Yesterday I went in to ask if the next tenant has signed the lease, and the manager was there and said that even if the next tenant signs the lease, she will not let me out of my lease until the next person physically moves in that day. I said that that completely contradicted what I was originally told and it makes no sense that they would let the next tenant out of the lease they have already signed and leave me responsible. She said that's what the rules are. So today I went in again to the office to discuss this because it doesn't make any sense to me. I was speaking with the leasing agent in a very normal and calm tone and saying that im confused why I received two separate answers when the manager comes out screaming at me, "you were just in here yesterday! Why are you coming in again to ask when I already told you. I'm the manager, this is my property, I make the rules and thus is my business decision". I was standing there shocked as she screamed at me with such contempt and bullied me into silence. It was completely inappropriate and disproportionate. This is not the first time it's happened, but this was the final straw. At this point, I still have more questions about how this termination of leAse will work, and I feel I have the right to discuss without being screamed at and bullied. But I'm unsure how to proceed because I'm afraid of being bullied again and I've heard horror stories from other tenants of things she's done to retaliate against them including false allegations, and I'm worried she could make false allegations against me that I threatened her or some other bullshit to save her own ass. There were no other witnesses in the lobby except the sales agent, manager, and i, but there are security cameras. I am unsure if I should email her saying I am not okay with the way I was treated, and explaining that I was calm and rational and her reaction was unprofessional, bullying, and disproportionate, then asking my questions about the end of lease process and saying that I am not comfortable going into the office again so answers must be provided via email. This gives me the benefit of being the first one to have in writing to protect myself against any false allegations from the manager and have the information I need to make sure they are following the policy when I move out. The only issue with this is things can misinterpreted in writing and I am concerned about retaliation like her making up bs noise violations (although the timing would be suspect as no violations until after I sent this email?) OR if I should have a friend come with me as a witness and speak with the manager directly about what happened, why it wasn't appropriate, why I won't tolerate it anymore, why I feel threatened now, and why i need and have a right to the answers to my questions. I would record the conversation. I'm just trying to keep peace until I move out, but it seems the manager is determined that that shouldn't happen, so at this point, im just trying to protect myself. So I'm wondering what you all think. Additionally, id like to know what the law says about early termination: can the manager still make me responsible for the lease if someone else signs it if they don't physically move in? By the words she said, it seems to me, she is just making up her own rules to be difficult and I don't know if her rules are legal or not. The lease doesn't specify Thanks [link] [comments]  |
| (WA)Do I have to get an inspection? Posted: 05 May 2018 04:29 PM PDT I'm buying a house from family with a conventional loan 20% down. I've lived here for 2 years and have been doing the upkeep. I know what's wrong with it and right already so can I waive the inspection or will a lender usually demand one? [link] [comments]  |
| Lender suggested not to lock in rates until closing (July) - is that solid advice? Posted: 05 May 2018 01:02 PM PDT Our lender told us that the rates are at an all time high and suggested we not lock in until around closing, July. Is that solid advice? Where can I check history of rates? Locaton: Houston, Tx [link] [comments]  |
| Property Tax protest; howto? Travis County, TX Posted: 05 May 2018 11:33 AM PDT |
| Selling our first flip. Have no clue what to do now. Posted: 05 May 2018 10:17 AM PDT We flipped our first house. Had three offers within the week. Now what do we do? We didn't use a relator. We have a signed offer sheet. The purchaser is preapproved and has 10 percent down. I live in Ohio. What do I do now? Who do I get go do my contract? Do I use a lawyer? Can I do it myself? I don't mind paying someone to help me. I just don't know who to even ask. The first two offers were going through my banker. He is also a relator and offered to help do the contract. This offer is using her own bank. How long does a closing usually take? I am a teacher, so I can usually follow directions. Is there a way to do it myself? This is my husband's retirement job and I need to learn so many things to help him. [link] [comments]  |
| Bumpy negotiation - need advice Posted: 05 May 2018 05:38 AM PDT We had a verbal acceptance of our offer of $180,000 cash, we had a purchase and sales all put together and were waiting for the sellers to sign. I got a text from listing agent a day after verbal agreement (contract was going to be active that day) that another offer had come in above listing and the owners were considering it. I called my buyer and told him what had happened, I said that the sellers were asking for our highest and best. He told me 185,000 was the best he could do so I called agent with that information - he brought it to the sellers at around 7pm But then I got a call from buyer a few hours later and he was pretty irritated with the sellers for going back on their verbal acceptance. Ultimately, the sellers accepted (again, verbally) our offer of 185,000 because it was cash, the other offer is higher but requires a FHA loan. Buyer wants to go back to 180,000, even though I had tried to convince him that we can leverage on the closing date or inspections instead (not sure if that was the right move, I was trying to think of what he could get back without lowering the price) I feel like I mishandled this situation somehow and not sure how to fix it without losing the deal. I've emailed my broker but haven't heard back yet, thought I could solicit reddit for some help. New Agent in Vermont [link] [comments]  |
| First time homebuyer; please help me navigate the pitfalls! Posted: 05 May 2018 05:46 AM PDT I make $32,000 a year and my partner makes $28,000 a year. The place we're looking to potentially buy is listed at $84,000 and we plan to use it as our primary residence for 5-10 years in Cortland, NY. The local property tax rate is 3.19% I've never owned a home before. I would love advice about:
Caveat, I'll be renting the place first, and then buying it soon after moving in and getting a feel for the place. It is currently a rental property, but the person showing it made sure to mention that the owner is actively trying to sell it so that I would be aware that if it were sold, I'd have 6 weeks notice before needing to move out if I wasn't the one buying it (I'd like to be). [link] [comments]  |
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