Seller walked after septic repair quote, we would like to negotiate. Options? Real Estate |
- Seller walked after septic repair quote, we would like to negotiate. Options?
- Is there a reason a listing would show up sold and then have an auction listing less than 2 months after?
- Pennsylvania areas to consider or stay in NJ?
- due dilligence for buying land to develop a SFH
- Should we buy a house or a condo?
- Saving 45k this year and looking to put a down payment on my first rental property
- Need help selling my own island
- Unrealistic repairs after inspection
- Home inspection findings
- Check my logic: Factoring in the cost of garage parking
- Documents to keep after paying off HELOC?
- Lien Sales
- Does this look like a scam to you
- Would a refinance ‘reset’ the clock for paying taxes on capital gains?
- How do I thank a realtor, lender, etc. who have gone the extra mile on a deal I have to back out of? (Two < $50k mortgages. I can only get one house because the second/investment property ended up costing too much.)
- [Colorado] Purchased/Closed on a house and discovered part of fence and yard improvements built on County property. What now?
- Can you negotiate new construction?
- Is this normal? Buying a small bank owned REO/foreclosed home
- We are going to sign a contract to buy our first house. What could go wrong?
- What laws protect a home buyer? (Wisconsin)
- Is it unethical to use another realtor when ours is not available?
- Turning the tables on best and final offers
- Website for rental property.
- How does it work?
- Sewer disclosure
| Seller walked after septic repair quote, we would like to negotiate. Options? Posted: 29 Sep 2019 01:33 PM PDT So we were set to close on a house in two weeks. Basically the house failed the septic inspection and they initially said the repairs would cost a few thousand. Seller agrees to pay this. Appraisal came back low, there were some abnormalities that were in the appraisal, noted by my agent, the selling agent, and myself. Selling agent was going to present alternative to the bank. We were at $186K, appraisal was $180K. Then the estimate for the septic came back at $15-25K. Seller decides to walk. We didn't get a look at the report. We didn't get a look at the estimate. We went and looked at a couple other homes, in our price range, but frankly we like then a lot less and many need some work while the home we were going to buy was move in ready and came with quality appliances that weren't too old. It had some quirks that made it less appealing (for instance, by a highway), but they didn't bother us. It also was in an area with much lower taxes ($1000 per year less) and was closer to work and other areas we'd need to go. So basically were interested in negotiating something on the first home. It fit our needs perfectly and the location was ideal. The entire summer only three homes in our price range in the area were listed. We don't have a lot of wiggle room in price at the moment, but given a few months we could pay half of that septic repair. I have yet to talk to my agent, but what sort of options do I have here? Could we approach the seller again and say we're interested in working something out and to ask for the assessment and the quote? Would it be possible to have her pay half and work out a payment plan with the company that does replacements on the other half? Would it be appropriate to say we're interested in paying half come next January, when we could pay half out of pocket? Obviously depending on how dire the assessment is, it might not be worth pursuing. The quote seems high, but it's got a lot of hill to the yard and a few trees, so I don't know if that increased the cost. Without seeing the report it's tough to say whether it's even worth trying to proceed. I'd hate to ask for the report only to find it needs a dry mound system and it's not something were interested in. On the other hand the area we're looking in doesn't have many listings and the other houses we've looked at so far in the price range frankly sucked in comparison. UPDATE: Here's some more info I found out. There is a spot on the lot where there was a previous in-ground pool filled in. County got involved and said they want that to be the spot where the new septic is placed. They want the old foundation removed and the new system put in place there. Cost estimate is $20-25K. Due to slopes the options for new areas is limited. I just checked into three other homes that are actually in the city during open houses today. Cost of sewer is about $60 a month. Taxes are about $1000 or more a month above the taxes for this home. All of the other homes had smaller lots and none of them where as nice as this home. All of them needed some sort of maintenance or finishing. Commute time and distance to all places I need to go on a regular basis would be longer. Seller obviously not interested in dropping the price to $180K and putting in $20K on a new septic. I don't currently have enough money that I could comfortable drop $10K on paying the septic 50/50, though in January I would be able to. If I could negotiate a payment plan with the company replacing the septic I could easily pay it over time. If the septic could last another year and she could put half into escrow, that wouldn't be an issue either. [link] [comments]  |
| Posted: 29 Sep 2019 03:12 PM PDT Im looking at properties in San Diego and noticed that on the MLS site itself, there is an auction set for a house in October, even though it was recently sold in August. I assume the MLS is the most up to date but I'm curious about the discrepancy Forgive me if this is a dumb question [link] [comments]  |
| Pennsylvania areas to consider or stay in NJ? Posted: 30 Sep 2019 05:05 AM PDT I'm thinking of buying a house in late 2020, but I'm a little overwhelmed by all the choices. First, a little background. I am a 40-something single woman with no kids. I am looking for something in the $300-500 K range and to pay in cash. Looking for a 2bdrm (even one ok if nice), but must have a fenced yard. My priority is my dog(s) (have one now, looking to adopt 2 more). Other restraints are that my family owns rental properties (12 now)—condos in Mercer County, NJ (Hightstown); I want to stay somewhat close to central NJ, but not on the Northeast Corridor/near traffic lines going into NYC. I work online from home 7 days a week, so I have no work limitations as long as I have internet. I don't want to be too far from my parents in central NJ either. I was wondering, for you homebuyers in the Tri-State area, is PA that much more of a deal if you don't care about school districts? Ive heard property taxes are significantly less; traffic can be less in some counties, but I am not that familiar with Eastern PA TBH. Any drawbacks to living there? Right now, I own a condo in Central NJ (Middlesex Co.), but I'm getting sick of paying taxes and dealing with traffic for things I don't care about (schools and NYC proximity) and living in an HOA community that isn't dog-friendly anymore. I prefer quieter places near Nature but not too far from the suburbs. Thanks for your advice. I have purchased twice in my life, but both were condos; never bought a house before. [link] [comments]  |
| due dilligence for buying land to develop a SFH Posted: 29 Sep 2019 09:24 PM PDT Buying land to develop SFH in MA, USA. What's the checklist for due dilligence: a. Before submitting an offer the zoning of the land ... connection to public sewer .... HOA ... what else? b. After an offer is accepted Thanks! [link] [comments]  |
| Should we buy a house or a condo? Posted: 29 Sep 2019 02:58 PM PDT We're a family of 4. Me, my wife and our 2 kids both under the age of 6. After saving up some money for about 2 years we've finally decided to get our own home. However, we're confused regarding what we should go for actually, a house or a condo. Had also encountered this Choose Condos Over Traditional House And Lot article which talks about the advantages of a condo over traditional houses and a lot of the points are really very valid considering my family. However, complete ownership of the whole property is a really great advantage of traditional housing and one has more room to grow. What would you all suggest? Thanks [link] [comments]  |
| Saving 45k this year and looking to put a down payment on my first rental property Posted: 29 Sep 2019 08:59 AM PDT A little backstory, I'm in the national Guard and I'm currently deployed for a year. Considering that I will not have any expenses aside from my car ($325 / month) during my time here I will be able to save $45k in addition to what I currently have. I've been highly interested in real estate investing for years now and have been granted an opportunity to potentially afford my first property. Back home I'm a full time college student. My only source of income is what I receive monthly from the NG, which is $1000/ month prior to this deployment. And will receive an increase of $2000/ month after this deployment totaling $3000/ monthly. I am looking for a piece of property for around $120k and am willing to put down $10-15k. My concern is that because I don't have 2 years worth of stable employment will I get rejected on my application even if I put a downpayment. Also, would it be a smart decision to purchase a condo or a household instead? All advice is greatly appreciated, Thank you! [link] [comments]  |
| Need help selling my own island Posted: 29 Sep 2019 05:36 PM PDT How can i sell a resort island without a middle man, what tools should i use to connect to potential buyers? Any help will be much appreciated. [link] [comments]  |
| Unrealistic repairs after inspection Posted: 29 Sep 2019 07:29 AM PDT I've recently sold a 1927, 2 story, 3 bedroom, 1 bathroom house in Ohio for 90k, taking off about 2k off the original asking price. We are covering closing cost along with doing a home warranty which they requested. We are also spending roughly $700 in exterior painting per negotiated. Anyways, the couple used one of their father's to do the home inspection. Apparently he found knob and tube wiring in the attic. They would like to put more installation in the attic, so they are asking us to eliminate the knob and tube in the attic. We got a quote and it came to $1850, which we were ok with. We negotiated that they would be responsible for any drywall damage. We disclosed that while some of the wiring was up to date downstairs such as the kitchen, other areas were not per the electrician. Now they want a second quote about how much it would be to replace all the knob and tube in the house which just isn't realistic. Plus I have to take time out of my schedule. The amount in escrow is only $500 which if the deal fell through would leave us at a loss for several more thousands but also holes in the wall throughout the house. Our house has only been on the market for about 3 weeks prior to this offer and we not desperate to sell ASAP. When speaking to the electrician the first time around he even said it's not realistic to eliminate all knob and tube in the house but to just to lessen the load. Any thoughts, advice or feedback would be appreciated. [link] [comments]  |
| Posted: 29 Sep 2019 06:40 AM PDT First time home buyer looking for advice after home inspection found more issues than anticipated. After two years of searching, we found a house that meets most of our needs and that we would be happy living in. There were 3 offers on the house and ours was accepted. (we went over the asking price, which is currently common in our region). We felt the homeowners took great care of their home and did not expect the amount if issues found. The inspection found the following: We are willing to disregard the Veranda issue and maybe even the garage one. But the mold and sloping floors are major concerns. We're trying to determine if we ask the homeowners to get the sloping floor issue evaluated by an engineer, and the mold cleaned professionally. Or if we simply move on to another home. Our Agent has not been pressuring us in any way, in fact we feel he is almost suggesting we move on. Since were first time buyers, looking for feedback on how major these issue are. Are we overreacting, or is this a legitimate dealbreaker. Thanks for your help. [link] [comments]  |
| Check my logic: Factoring in the cost of garage parking Posted: 29 Sep 2019 07:31 PM PDT Hey! I am currently considering two homes in a large/densely populated city. Home #1 is considerably cheaper but does not have a garage. It can be tough finding street parking so I may have to pay monthly in a local garage which costs 280$/mo. Home #2 is about 100K more expensive, but is in a much "nicer" part of town and also has an attached garage. If you work out the math, 280$ monthly works out to a 30 year mortgage 100.8K (280 x 12 x 30). So not having to pay for parking can help me afford a home 100K more expensive. I'm leaning toward going for Home #2. Is my logic flawed??? Your thoughts/criticisms would be appreciated. Thanks! [link] [comments]  |
| Documents to keep after paying off HELOC? Posted: 29 Sep 2019 09:09 PM PDT I'm going through my safe and doing some spring cleaning and came across a folder of documents from an old HELOC that I paid off last year. I've confirmed that the HELOC is actually closed, do I need to keep any of these old documents or can I shred them all? [link] [comments]  |
| Posted: 29 Sep 2019 08:01 PM PDT I'm looking to invest in a property on a tax lien list. I'm in NYC looking here and into surrounding NY counties. Anyone here with experience in these sales? [link] [comments]  |
| Does this look like a scam to you Posted: 29 Sep 2019 07:39 PM PDT |
| Would a refinance ‘reset’ the clock for paying taxes on capital gains? Posted: 29 Sep 2019 06:45 PM PDT I read that the wife and I won't have to pay taxes on capital gains if we've lived in our home for at least 2 of the last 5 years. We've been here for 8 years and want to refinance. Would this then reset the clock to where we would have to stay for at least 2 more years before selling to avoid paying taxes on any capital gains? Thanks for any information anyone can provide. [link] [comments]  |
| Posted: 29 Sep 2019 06:27 PM PDT Title summarizes it. My realtor and local lender have really pulled through for me. Two other local lenders flat-out refused to help me on the second property at all. But the final numbers on both properties have come back, and I'm undecided on the second / investment property. I'm not comfortable being "undecided" on a house. It's an extra $10k hit in my bank account and it's coming with extra costs that keep creeping up, so I'm more likely than not to back out at this point. How do I politely pull out of the second, and is there any way I can show my appreciation? Because this was all at my command. I get that the realtor and lender work for me and I am their client, but I can't imagine the hassle everyone has been through trying to get both properties secured and financed for me up until this point. Personally, if I was either my realtor or lender, I might just fire me as a client 😂 [link] [comments]  |
| Posted: 29 Sep 2019 02:38 PM PDT We closed on a house around 45-60 days ago in Colorado and used a realtor. This was our first purchase in this state, and we asked about when a property survey would need to be done and were told by our realtor it's not required and it was left at that. Now that we've moved in we were looking at replacing a rather shoddy fence that surrounds the back yard, and from looking at some county property documents and our next door neighbors survey, we've been able to establish that the back section of our fence (about 75' long) is built approximately 6-7 feet onto county owned open space. There are several large planter boxes, as well as stone lined raised flower beds that encroach into this "disputed" space. I'm unsure how long the fence had been there and there was nothing disclosed by the seller regarding this property. We bought the property under the assumption the yard was a certain size, now we're looking at having to replace fencing and yard improvements to correct this. What is my recourse here? I called my realtor and he basically said I needed to talk to a real estate lawyer and left it at that. Or is this just a case where I'm accepting the property "as is" and I just have to deal with it. [link] [comments]  |
| Can you negotiate new construction? Posted: 29 Sep 2019 06:03 AM PDT If I decide to buy a new construction home can you typically negotiate pricing? Ask for free upgrades, etc? Ive bought new construction before and the realtor did nothing besides sit at the desk with me while I spoke with the builder and sign the papers yet got paid a few thousand. If I don't use a realtor and so the builder gets to keep more money are they more willing to negotiate? This is in a large neighborhood being built, not a custom home on land I bought just for clarification. [link] [comments]  |
| Is this normal? Buying a small bank owned REO/foreclosed home Posted: 29 Sep 2019 05:18 PM PDT Basically I'm submitting my offer and my Redfin agent requested a picture of a check for my earnest money deposit made out to Red Fin. Is this normal? [link] [comments]  |
| We are going to sign a contract to buy our first house. What could go wrong? Posted: 29 Sep 2019 05:09 PM PDT As the title said. It is going to be our first house. We will deposit our reservation tomorrow and have a payment plan ($3000/month in 5 months) for the 5% deposit. The house is being built and it will be delivered to us in March next year. What could go wrong? What should we look for in the contract which allow us to walk away and get full deposit back when thing goes wrong? [link] [comments]  |
| What laws protect a home buyer? (Wisconsin) Posted: 29 Sep 2019 05:01 PM PDT I'm a first time home buyer still learning about the process. I am pre-approved and have seen a few open houses. I chatted up a few of the selling agents at the open houses and one or more seem like they would make a good buying agent. I had one of them set me up to get e-mails on homes entering the market. In deciding which agent to utilize as a buying agent, I did some research on home buying and selling protections. It seems the seller is well protected. However, I am unclear on the buyer protections. I understand a buyer and buying agent can enter a contract which usually requires the buyer to work solely with a single agent and requires the agent to act as a fiduciary to the buyer. However, this was noted as uncommon, and I wouldn't like being 'stuck' with one particular agent. I am leaning towards not entering any contract with a buying agent. My uncertainty is that I couldn't find any law stating that a buying agent must act in my interests without one of these contracts. Actually the only thing I saw regarding this was that the buyer agent is technically an agent of the seller by default unless there is a contract between buyer and buyer agent. I was only able to find 'ethics' standards, which appear to not bound by law. Let's say my buyer agent shows me a house that I really like and I put in an offer. Whats to stop the buyer agent from omitting something important about the house, just to get the house sold and collect his share of the commission? Do I have to depend on trust? Or can I depend on law? I guess I can start sifting through government websites, but was hoping for a response on here to give me warm fuzzies. Thanks [link] [comments]  |
| Is it unethical to use another realtor when ours is not available? Posted: 29 Sep 2019 11:02 AM PDT We are house hunting in a competitive market (Silicon Valley). Our realtor is on vacation, she told us in advance and arranged coverage. There is one home that we were planning to make an offer on; the realtor briefly took it off the market and is relisting Tuesday. Our realtor is aware and fully looped in her agent covering for her. However, this weekend we found another house we are very interested in and will need to move fast. We had been emailing our realtor and her covering agent about it, and our realtor had been emailing us back (but seemed kinda annoyed). I texted the covering agent to see if she could get us in to see it today, apologizing for the last minute Sunday ask. No response and it's been two hours. It's almost 11 am. If we don't get in today we may miss this house. Would it be terrible to try to get in with a redfin agent, and then if we do end up making an offer on this home, using the redfin agent for the transaction (just on this house)? We'd continue to use our current realtor on any other home. I feel bad but also feel like it's not right for us to miss out on a home because of our agent's availability. Update: not too exciting...of course, just as we were about to talk to another agent, the covering agent got back to us and was able to show us the house today. We're seriously considering an offer. So all's well that ends well. [link] [comments]  |
| Turning the tables on best and final offers Posted: 29 Sep 2019 04:54 PM PDT In a hot market, when multiple offers quickly come to the table I, as a buyer, was often given the ultimatum of my "best and final" offer in the negotiation process. I'm in the Northern Chicagoland area and activity has slowed down, houses which I once thought would be gone in the first weekend are coming up on 100 days on the market (I'm by no means an expert and these are my casual observations). I'm looking to purchase a home in the next 2-3 months, would it be appropriate to turn the tables on the "best and final" and ask the sellers what their best and final is, say if I'm down to 3-4 homes that I'm interested in and at this point it would ultimately come down to price as all of them check my boxes. Has anyone ever had an experience with a situation like this? [link] [comments]  |
| Posted: 29 Sep 2019 08:50 AM PDT Do you guys / gals have any recommendation on a website where we can go onto to find rental property/home in a specific location? My wife and I are getting a new home. We will be selling off our current home before we start the buying process for the new home. So to keep things as simple as possible, we would like to find a rental property that is within the vicinity of our current home and similar size to our current home. Another added benefit that I think is that by renting out a place similar to what we currently have, we can have it act as a storage area. We'll just move everything we have to the other place. We do not need to rent out storage area. Thanks. [link] [comments]  |
| Posted: 29 Sep 2019 12:33 PM PDT So I was looking to rent an apartment. A brand new listing gets posted on the MLS website. I let my realtor (he is NOT the listing agent) know the same night it gets posted, we check it out the very next day, I like it, I sign the application and credit check forms. The 1 month realtor fee would get split between my realtor and the listing agent. My realtor contacts the listing agent and the agent says there are multiple applications. Highly unlikely considering how fast me and my realtor moved on this. Is it possible the listing agent is holding off a few days to see if he can get an applicant willing to directly through him so he can get the full fee and delaying my application process? Can my realtor go directly to the landlord to get approval? [link] [comments]  |
| Posted: 29 Sep 2019 12:25 PM PDT I'm about to make an offer on a home and the PDA states "sewer line internally lined in May 2019 but root clean out every 18 months prior" Is this anything to worry about? Thanks! [link] [comments]  |
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