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Jose Valasquez posted:If I was asking $209,000 and you offered me $185,000 I would probably tell you to go gently caress yourself and not even bother with a counter.
Any home that is under 10 days on the market probably won't bend for a low offer. In the seller's eyes, they're still feeling out the market. Even if your price is justified, they'll want to wait and see what happens. My overall point here is that the better you understand the market and the Seller's motivations and circumstances for selling, the better you can custom tailor an offer with high perceived value to them. A $185,000 offer that is otherwise perfect for them may entice them into a counter offer of ~$204,000 (to let you know they're willing to give a little, but are serious about their price). And then maybe you can work them down to $200,000 with some favorable terms for you as well. A lowball offer without any consideration for the circumstances of the Seller may actually tick them off and make further negotiations difficult down the road. If you're just looking for a great deal, sure whatever. But if the home really is what you want, don't risk losing it with an insulting lowball. The extra few thousand you may save could easily go the other way if you lose out on the home and have to spend weeks more searching and placing offers on other less-ideal properties. Don't forget what your time is worth in all this.
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Mar 29, 2013 05:01
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Alright, some feedback on this would be wonderful. We got our home inspection done yesterday, and got the final report back today. Now we are about the enter the stage of negotiation and concession that we want the seller to make. Here is a summary of what our major issues are with the home that we didn't find out until after inspection. -Home was listed as "newer electrical", but home actually had original cloth wiring throughout home. The only electric that was newer was going to the kitchen that they redid and the addition that they put on. The wires are in conduit in the basement, but not sure if the conduit extends to each outlet making it an easy or difficult fix. -The furnace and water heater are both 31 years old! Well beyond it's normal life span. The water heater actually looks in fairly decent condition, but the furnace is installed backwards. The service panel is facing a wall with a very small crawl space which is going to make it a bitch to service. -Galvanized pipe has causes a decrease in water pressure much lower than what we were expecting. -The "Newer Air Conditioning" is 11 years old, but one again they installed the device in such a weird way that it's going to ruin the life expectancy of it. The AC is at ground level against a corner of the house, and they build a deck around it, elevated above the AC with it half sticking out of the deck. So... we were recommended to just run the AC until it dies, and then eventually replace it and install it properly. -Washer has a leak in it somewhere. When running it for a cycle it leaked a fair amount of water on the floor. Stuff that we knew of before we made an offer -5 windows are in need of replacement, looks to be lead based pain around it in one of the bedrooms with 2 windows. We are in the suburbs of IL. The price history was a list at 250K, it dropped down to 230K, and then we won it at 242K with a lot of multiple offers (only 3,000 above the second place offer), the comparative market analysis would place it around $237,500, and we have not had it appraised.. So what kind of concessions can we expect the seller to make if we ask it? We are thinking no less than 5K, so $37,000... which is only 2K less than their 2nd place offer. But we would of course love to get the house for less. It's just that with 31 year old furnace and water heaters, an AC unit installed in a weird way, and a bunch of electrical outlets we'd really love to see updated... a lot of poo poo turned up in the inspection. And knowing that the second place offer was only $239K, and they would have the same complaints, how much would they be willing to give knowing anybody that bid less would want similar repairs? The biggest issue for us is wiring, since it was described as newer and is still original. The seller also said they would include a home warranty, but given that things like the furnace is installed backwards, the AC is installed improperly, and that the cloth wiring is functioning I doubt it would cover those things or help us in any situation except if the water heater or furnace flat out broke within the timeframe of the warranty (Which we know nothing about at this point too, need to investigate more) That said, it's still a good house in terms of everything else and we love it, but are also ready to walk away if the owner doesn't want to make concessions due to a misleading write up. I should also note that we are more than happy to do the repairs ourself instead of having the owner do them. Astro7x fucked around with this message at 06:54 on Mar 29, 2013 |
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Mar 29, 2013 06:52
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Astro7x posted:Alright, some feedback on this would be wonderful. Have you gotten a contractor in to give you a quote for the cost of fixing the necessary things and/or bringing the home up to standards? It's pretty important that you understand the actual costs you're looking at because otherwise it becomes impossible to make a judgment call on something like this. Your Realtor should have relationships/vendors he can bring in to help out with getting a quote if you don't have a specific preference on who to work with for something like this. I'm assuming they've probably already mentioned this to you as an option but it probably bears repeating, especially since no one on the internet can accurately predict the cost or timeframe of repairs, and it can only help you to get a professional in there to take a look at things. The inspector is only there to tell you what they notice MIGHT be wrong or is obviously wrong, not what is required to fix it or how much it will cost. Inspectors aren't really specialists and are not the endgame for when you find a problem - in any home transaction, you want to get as much info as you can, especially since in the case of contractors it's generally free to bring someone in to give an estimate and get more information/opinions. There's no real advice I can give you on whether to move forward or not on a house other than be sure to do your homework and make the most informed decision you possibly can. Open communication with your Realtor and an understanding of the timeframes you have to review things are two really key points to always keep in mind. I Love You! fucked around with this message at 07:10 on Mar 29, 2013 |
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Mar 29, 2013 07:05
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I have the old galvanized pipe just in my front bathroom and it is a smelly, low-pressure, rusty brown water pain in the rear end. I can't imagine a 31-year-old water heater isn't going to need replacing right away. The HVAC is ancient AND hosed up. Windows leak. And the electric is seriously out of date. One of those things might be worth dealing with, but all of them? When the seller is blatantly hiding things from you? Walk away, unless you have plenty of extra money and love fixing houses. That's a LOT of hassle and expense staring you in the face.
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Mar 29, 2013 07:17
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What is the seller blatantly hiding? I guess calling the electrical "newer", but cloth-wrapped wiring isn't bad compared to knob-and-tube, and even that can sometimes be left in place per code (but must be replaced if any work is done on it). The age and condition of the heating and appliances is obvious. The location of the A/C is obvious. Galvanized pipe is obvious. 11 years old is "newer" for A/C units, which I believe are typically expected to last 30+ years (depending on climate, quality, etc). Ours is at least twice that old, probably three times, and still running fine. I think a huge amount depends on the cost of replacing the furnace and fixing wiring, which is going to vary a lot depending on the geometry of the house, its size, local cost of labor, etc. Add in something for the water heater... maybe $500 or so. (A new washer is not much money and maybe it just needs a new seal or something cheap, and anyway houses don't have to come with appliances like that, so I'd be inclined to skip it. If it had no washer at all installed, that likely wouldn't have affected your offer for the house, right?) It'd be reasonable to ask for some concessions, and it'll be easier to back those up if you have actual in-hand cost estimates for the expensive work. Urge the seller to recognize that if you walk away, not only is the next best offer $3k lower, but that buyer is also likely to request similar concessions... and maybe also their own inspector will find additional problems, who knows. Or walk, either way, but if you're mostly shopping for homes that are 30+ years old, you're almost always going to find a few items in an inspection. My opinion is to try negotiation first, but be willing to walk if the sellers refuse to budge.
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Mar 29, 2013 07:38
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So how does asking for seller to cover closing costs work, exactly? Like what incentive is there for a seller to actually agree to that?
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Mar 29, 2013 14:06
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Baruch Obamawitz posted:So how does asking for seller to cover closing costs work, exactly? Like what incentive is there for a seller to actually agree to that? Option A: $200,000 sales price Buyer pays closing costs Option B: $208,000 sales price Seller pays closing costs Honestly, if someone can't afford closing costs they probably aren't in a position to buy. Letting the seller pay closing costs means that you end up paying those costs stretched out over the life of your mortgage and you pay interest the entire time. There's a lot of articles out there describing the hows and whys of this. Here's a primer: http://www.homesellinginmass.net/2011/08/seller-pays-closings-costs-end-to-myth.html 10-8 fucked around with this message at 14:26 on Mar 29, 2013 |
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Mar 29, 2013 14:19
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Have Some Flowers! posted:The short note here is that it really depends on the circumstances. There's a laundry list of factors that determine whether or not your offer makes sense given the list price of a home: I did the math on the house. They were asking $200/sq ft. In a $150/sq foot MAX neighborhood. My offer was more than reasonable in my opinion and in my realtor's opinion. Anyway, the seller "accepted" my offer. However now they are adding the contingency that they can sell to someone else before closing if they want to. What in the flying gently caress
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Mar 29, 2013 14:21
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Insane Totoro posted:I did the math on the house. They were asking $200/sq ft. In a $150/sq foot MAX neighborhood. My offer was more than reasonable in my opinion and in my realtor's opinion.
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Mar 29, 2013 14:24
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10-8 posted:That's not an acceptance. That's "I'll keep your offer in my back pocket in case nothing better comes along." There's no way in hell I'd ever accept that contingency. Why would you go through the hassle of obtaining a mortgage, paying for an appraisal, etc. if the seller may just find someone else the day before closing? I'm not sure a mortgage underwriter would even clear a loan to close under these circumstances. THAT'S WHAT I SAID. Who the hell would take that? Is that even..... is there even precedence? The seller's realtor is out of her goddamn mind. I am giving them a good offer and they want to walk? I am giving them to the end of the business day to respond.
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Mar 29, 2013 14:31
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You could counter offer, accepting the contingency if they agree to accept all costs incurred by you if they sell to someone else, plus like $10k.
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Mar 29, 2013 14:38
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Insane Totoro posted:I did the math on the house. They were asking $200/sq ft. In a $150/sq foot MAX neighborhood. My offer was more than reasonable in my opinion and in my realtor's opinion. Insane Totoro posted:THAT'S WHAT I SAID. Who the hell would take that? Is that even..... is there even precedence? That's the right choice. I don't know how Pennsylvania is, but here in North Carolina that poo poo would not be legal in any way, shape, or form. Once there's a contract, there's no 'oops, I got a better offer, sorry'. That real estate agent sounds shady as gently caress. In her defense, sometimes clients will insist on listing at insane prices no matter what you show them, but she should have nixed that 'contingency' as soon as it came out of the seller's mouth (assuming it came from the seller and not the agent). I'd walk if they tried to insist on something like that and I'd advise a client to walk if I was representing them.
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Mar 29, 2013 14:39
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baquerd posted:You could counter offer, accepting the contingency if they agree to accept all costs incurred by you if they sell to someone else, plus like $10k. That crossed my mind. I also debated being a jerk and telling the seller that he has to put his 28-gun safe full of guns into escrow. But I would never take out a loan on those terms. I essentially told them my original offer stands and I'm walking on Saturday morning unless someone tells me otherwise. AbsolutelySane posted:That's the right choice. I don't know how Pennsylvania is, but here in North Carolina that poo poo would not be legal in any way, shape, or form. Once there's a contract, there's no 'oops, I got a better offer, sorry'. That real estate agent sounds shady as gently caress. In her defense, sometimes clients will insist on listing at insane prices no matter what you show them, but she should have nixed that 'contingency' as soon as it came out of the seller's mouth (assuming it came from the seller and not the agent). I'd walk if they tried to insist on something like that and I'd advise a client to walk if I was representing them. No, no... from the agent's mouth. In writing.
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Mar 29, 2013 14:48
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Insane Totoro, if they take your offer I would definitely use an attorney for closing. Someone wanting that kind of contingency in a sales contract could probably be a huge pain in the rear end down the line.
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Mar 29, 2013 14:54
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10-8 posted:There's no such thing as "seller pays closing costs." That's just a euphemism for rolling the closing costs into the loan. This is only true if the sellers won't pay the closing costs without an equal increase in the purchase price. Closing costs can be included in the "haggling" just the same as the purchase price. When we recently purchased our home, the seller would not go below 259,900 on the purchase price (which was already 11k below appraisal), so we countered with 259,900 + seller pays closing costs and they agreed to it. Is there a difference to the seller between 259,900 plus 3k in closing costs and 256,900? No. But sellers are not always rational robots who make perfectly logical decisions. And to the buyer, $3k in cash is always better than $3k off of the mortgage, since you always have the option to throw that $3k immediately towards the mortgage (assuming you're responsible and you aren't just going to spend the cash on a TV).
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Mar 29, 2013 14:55
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Dijkstra posted:Insane Totoro, if they take your offer I would definitely use an attorney for closing. Someone wanting that kind of contingency in a sales contract could probably be a huge pain in the rear end down the line. How is that different from a normal closing?
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Mar 29, 2013 15:10
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Lord Of Texas posted:This is only true if the sellers won't pay the closing costs without an equal increase in the purchase price. Closing costs can be included in the "haggling" just the same as the purchase price. When we recently purchased our home, the seller would not go below 259,900 on the purchase price (which was already 11k below appraisal), so we countered with 259,900 + seller pays closing costs and they agreed to it. It sounds like you just got really lucky with a seller who can't do math. Any competent sellers' agent knows that there's no net difference to the seller between a price reduction and paying closing costs. In nearly every circumstance if a seller agrees to pay closing costs without an increase in price, that just means the buyer didn't negotiate hard enough for the purchase price. Also there are other downsides to rolling the closing costs into the loan. It artificially inflates the value of the home which can result in you paying more in taxes and property insurance, and over time can lead to inflated values on a neighborhood level because the next person to buy doesn't know whether the comps he's getting all included closing costs. Example: Person A buys for $200,000 and rolls $10,000 closing costs into the loan. Person B buys an identical house and gets a comp that shows Person A paid $210,000. So Person B offers $210,000 and then rolls his own closing costs into the loan. Then Person C sees that Person B paid $220,000, and so on. Property values haven't changed but Person C will still likely end up paying more than he should have. The problem is that there's no way to know if you're Person A or Person C when you're putting in an offer. 10-8 fucked around with this message at 15:33 on Mar 29, 2013 |
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Mar 29, 2013 15:17
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I'd love to live in an area where closing costs were only $3k. Unfortunately, I'm looking at closer to $15k.
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Mar 29, 2013 15:32
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Insane Totoro posted:THAT'S WHAT I SAID. Who the hell would take that? Is that even..... is there even precedence? It's very common for the Seller to then say "Alright, I accept your offer, but I can't wait forever on the off-chance that your home never sells. I'm going to leave the property on the market. If I do get another offer, I'll give you a week or so notice to come up with a Plan B." Your situation is pretty goofy, though. If you're going to be putting down hundreds of dollars for an inspection, and possibly more if you're having to pay for the survey, appraisal and so on... you really want more certainty than a contract where the Seller can back out whenevs.
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Mar 29, 2013 16:12
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Yeah, it sounds like a kick out contingency.
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Mar 29, 2013 16:16
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I have no lease or other mortgage obligation. My lease is up but whatever in May
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Mar 29, 2013 16:27
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10-8 posted:It sounds like you just got really lucky with a seller who can't do math. Any competent sellers' agent knows that there's no net difference to the seller between a price reduction and paying closing costs. In nearly every circumstance if a seller agrees to pay closing costs without an increase in price, that just means the buyer didn't negotiate hard enough for the purchase price. 10-8 posted:Also there are other downsides to rolling the closing costs into the loan. It artificially inflates the value of the home which can result in you paying more in taxes and property insurance, and over time can lead to inflated values on a neighborhood level because the next person to buy doesn't know whether the comps he's getting all included closing costs. Most places don't tax a home based on last sale value for this exact reason (and also for the reason that you could sell a home to someone for way under market value to game the tax system), nor do insurance companies base their insured values on what was actually paid- so your point is kind of irrelevant in that regard.
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Mar 29, 2013 16:54
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Yeah, when we purchased our house in August we had a contingency that the seller covered $X amount in closing costs and we didn't adjust the sales/offer price by that amount upwards. It is pretty common here to ask the seller to cover at least a portion of closing costs.
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Mar 29, 2013 16:59
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sheri posted:Yeah, when we purchased our house in August we had a contingency that the seller covered $X amount in closing costs and we didn't adjust the sales/offer price by that amount upwards. It is pretty common here to ask the seller to cover at least a portion of closing costs. The point isn't that the price has to go up, it's that you probably could have negotiated the price lower. I have to admit I really don't understand everyone posting all these anecdotes about sellers not budging on the sales price but making concessions on closing costs but I guess every market is different so do what works I guess. greasyhands posted:You are correct in that the psychology of asking for closing costs paid instead of a reduced selling price is often used to fool people (and realtors go along with it because they want the deal to close), but you are wrong that the buyer can never save money asking for a closing cost concession. I have seen, more than once, a person refuse to budge on the price but concede to covering closing costs (and no, the costs weren't added to the final price- the price remained the same). This obviously isn't logical, but its a reality of the market. That blog you cited doesn't even consider an example where the end price doesn't change when closing costs are rolled in, which completely invalidates his argument. The example cited in that blog isn't invalidated just because it doesn't account for the edge case of a mathematically illiterate seller coupled with a mathematically illiterate (or opportunistic and dishonest) seller's agent. Do a google search for "seller pays closing costs" and you'll see many articles describing why it's a myth. A couple anecdotes about exceptions to the rule don't change the broader principle. Also, I had to report the sales price of a home when applying for insurance last month. I guess I don't have insider knowledge of how insurance premiums are calculated but I assume the insurer wants to know that information for a reason. That said even if you totally disregard insurance and taxes there's still a problem of inevitable overpaying on a macro scale when some people are rolling closing costs into loans and others don't. Edit: yet another reason you don't want to roll closing costs into the loan: if you're paying any points at all, the points are a percent of the loan value, which means you're just costing yourself even more. 10-8 fucked around with this message at 17:22 on Mar 29, 2013 |
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Mar 29, 2013 17:11
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greasyhands posted:Most places don't tax a home based on last sale value for this exact reason (and also for the reason that you could sell a home to someone for way under market value to game the tax system), nor do insurance companies base their insured values on what was actually paid- so your point is kind of irrelevant in that regard. Does it play in to the likelihood that a lender will be able to appraise at the higher value? We've been a little worried that our bank would balk and we'd be left in the awkward position of backing out, trying to renegotiate, or coming up with the difference out of pocket.
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Mar 29, 2013 17:27
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When I've had my house appraised lately, the seller-paid closing costs were explicitly deducted from the comp prices.
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Mar 29, 2013 17:36
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Yeah, closing costs can definitely be deducted from the total sales price of a home. It can be especially likely when an inspection turns up something unexpected and the seller is motivated to sell - for example, if they have already found a home and are looking to be done with the prior one rather than relist and try to find someone who doesn't mind the newly-discovered warts.
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Mar 29, 2013 17:47
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Damnskippy posted:Does it play in to the likelihood that a lender will be able to appraise at the higher value? We've been a little worried that our bank would balk and we'd be left in the awkward position of backing out, trying to renegotiate, or coming up with the difference out of pocket. However, you typically can't push the sales price higher than the appraised value of the home. Your lender won't allow it. Also different types of loans also have limits on how much the Seller can contribute in closing costs, typically 3% or 6% of the sales price. One last thing to be careful about (as a home Seller), if you increase your Sales price for something like the above situation, be sure that you stipulate in the contract that the agent's commission fees will be based on the original sales price. Being told "it's the same net to you," could actually be $500 or more out of your pocket if you miss these details.
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Mar 29, 2013 18:16
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Curious if anyone can shed some light on a listing with this description:Weird Listing posted:***NO SHOWINGS***THIS PROPERTY IS BEING SOLD AS-IS, WITH NO REPAIRS AND SUBJECT TO ALL EXISTING TENANCIES. THE BUYER ASSUMES ALL RISKS ASSOCIATED WITH THE EXISTING TENANCIES AFTER THE CLOSE OF ESCROW. SELLER WILL NOT TRANSFER ANY LEGAL ACTION(S) RELATED TO ANY EXISTING TENANCIES. PLEASE DO NOT DISTURB THE OCCUPANT(S), WHO WILL NOT BE VACATING PRIOR TO THE SALE. SELLER WILL NOT PROVIDE ANY INTERIOR SHOWINGS OR INSPECTIONS. To clarify, I'm not looking to buy, it's just my closest "competition" (in terms of sqft & price) in the area that I'm trying to sell an inherited house. Just wondering what the gently caress. Best guess is that they are either regular hoarders, animal hoarders, or it has some extreme fire/water damage or something. The house is quite new (2005) and in a nice neighborhood so I don't know what the gently caress. Maybe it's a completely normal house but the sellers are just delusional?
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Mar 29, 2013 23:49
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drat Bananas posted:Curious if anyone can shed some light on a listing with this description: Is it a bank sale, a short sale, a foreclosure of some sort, owned by a lender, or anything like this? There could be a lot of issues but it sounds like the tenants are probably doing something that is either dangerous to the property, really really gross, way below board, or they have some sort of relationship with the seller. Regardless of the reason, it's hard to consider this property "comparable", but a realtor who is doing a poor job of conducting a CMA might pull it up without really looking at the property. It sucks that people will see it side-by-side on a list of houses with your property if it's lower-priced and similar "featured" though obviously no one who digs deeper will feel that way. If I were your listing agent, for example, I would contact the listing agent for the house in question and probably some neighbors as well, and see how much dirt I could dig up on the property so I could head off potential buyer questions later. It definitely can help your cause to know more about the house because it's going to come up, and it makes a huge difference if you can say "oh that house hasn't been repaired in 30 years and has 25 cats just FYI" when someone asks about it. Obviously their Realtor isn't going to admit to TOO much but he's got to disclose a large percentage of what he knows if asked. Even if it's an as-is house, if he has information that might be disastrous to a buyer he is going to cover his butt by telling you SOMETHING. I don't think I've ever had a situation where I called another Realtor on a poor-condition house, said "come on man, what's wrong with the house" and not had them immediately tell me at least something I didn't know before. The penalties for misrepresentation of a property are huge and while Realtors have to be careful not to disclose certain details about their client's situation, many often will err on the side of caution and disclose things when directly asked, especially if it's something that would be found out anyway at some point. I Love You! fucked around with this message at 00:10 on Mar 30, 2013 |
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Mar 30, 2013 00:06
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I Love You! posted:Have you gotten a contractor in to give you a quote for the cost of fixing the necessary things and/or bringing the home up to standards? It's pretty important that you understand the actual costs you're looking at because otherwise it becomes impossible to make a judgment call on something like this. We just put in a request with our attorney with what we want done. This includes getting estimates for the electric and plumbing, which we'd gladly take a credit on at closing so we can make sure its done right. Realtor does have recommendations, but step one is seeing if the seller will agree to anything, and if the do then call in for estimates. Thanks for the advice though. I guess what we were trying to do is gauge if the requests were unreasonable (as in, that's what you get for buying a older home) or if these would be expected repairs the sellers agent has been preparing them for. slap me silly posted:I have the old galvanized pipe just in my front bathroom and it is a smelly, low-pressure, rusty brown water pain in the rear end. I can't imagine a 31-year-old water heater isn't going to need replacing right away. The HVAC is ancient AND hosed up. Windows leak. And the electric is seriously out of date. One of those things might be worth dealing with, but all of them? When the seller is blatantly hiding things from you? Walk away, unless you have plenty of extra money and love fixing houses. That's a LOT of hassle and expense staring you in the face. I wouldn't say blatantly hiding things from us. And if we have to pay for all that out of pocket we are walking away. What we've asked for -to get estimate on fixing the electric and bringing up it up to code, and then fixed -credit towards new windows ( not sure how much we'll get, but even 50% of $5K in windows would make us happy) -credit to make up for the old age of the furnace/water heater. -All plumbing repaired for problems -leaking washer fixed or replaces -AC unit to be properly tested before closing when it is warm out -the home was to come with a home warranty, with no details of it given to us. We requested to to be given the cash value of the home warranty because it would not cover a old furnace to be replaced, and most likely not cover an AC unit that was not installed properly. We are hoping that this will add up to at least $5K, ideally 7K . But once again, don't know how much actual electrical repairs will be. It could be really cheap if there is conduit to all outlets, or really expensive if there is not. So we will see how willing and motivated the seller is knowing that we only asked for big ticket items and not petty poo poo like new carpeting or fresh paint.
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Mar 30, 2013 00:08
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Astro7x posted:We just put in a request with our attorney with what we want done. This includes getting estimates for the electric and plumbing, which we'd gladly take a credit on at closing so we can make sure its done right. Realtor does have recommendations, but step one is seeing if the seller will agree to anything, and if the do then call in for estimates. The only reason I mentioned getting the quotes quickly is that in some cases having a number for the cost of repairs can be a valuable negotiating tool, though obviously it can go both ways (seller agreeing to handle costs and then they prove higher than expected, for example). It seems like you have a plan, which is the most important thing, so you're already better off than most people when this kind of situation gets thrust on them. Good luck, and keep us posted on how things work out!
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Mar 30, 2013 00:19
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I Love You! posted:Is it a bank sale, a short sale, a foreclosure of some sort, owned by a lender, or anything like this? Not sure, but at the rate that houses are flying off the market here, it being on market for 2.5 months makes it definitely not a short sale. It wasn't on my CMA thingy - just when I went to realtor.com and searched my city, price, # bedrooms, approximate sqft, and a couple features like 2 story and 2-car garage, it was the only other house on the page so I clicked it. (Basically experimenting, "If I am a buyer with this budget needing this many bedrooms, I would find....") It doesn't really threaten my listing at all (it's only been on market for 2 days and has showings out the wazoo and a couple offers and notifications of incoming offers, yay!), I was just curious what the heck they were thinking or could be hiding. 
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Mar 30, 2013 00:21
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A house I'm really, really interested says $50 p/m for the furnace/hot water rental. Is this a normal thing? I would usually have my dad answer these questions but he's out of town  What does " petitioned ready" mean?There's so much I would have never considered when looking to buy. It's really frustrating because where I live, houses are getting offers just hours after the listing goes up, especially in our price bracket and it's really frustrating. e: A bit more background info...We have between us about 25k saved up towards getting us started. We weren't planning on going with a realtor. The house we are looking at is through a realtor though. As first time house buyers, is there anything I should be asking/aware of when talking to the realtor? I really like this house. It needs some work but that's not something we're scared of. My parents house, which I lived at for 15 years of my life was a total shithole when my parents bought it, but because my dad is amazingly adept to building (built both the front and back deck, has reno'd every room in the house, put in two drive ways, built and wired the garage...), it could sell for triple what they bought it for. I think I want something that needs a bit of polishing for this reason, taking a house and turning it into a home, to be cliche. Plus the neighbourhood is great. 54 40 or fuck fucked around with this message at 02:15 on Mar 30, 2013 |
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Mar 30, 2013 00:27
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Toriori posted:A house I'm really, really interested says $50 p/m for the furnace/hot water rental. Is this a normal thing? I would usually have my dad answer these questions but he's out of town Some people rent water heaters from the utility company, not sure why, but I have seen it occasionally as I've looked at places, haven't seen a rented furnace before though. Water heater along has typically been listed at 25.
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Mar 30, 2013 13:41
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Home depot has an 60-gallon gas water heater (which is fairly large) for $728. They've got an 80-gallon electric one (which is very big indeed) for $999. If you splurge on a $1000 water heater, which ought to last at least 25 years, and somehow spend another grand on installation, your cost over that period is $6.66 a month. I don't really get why anyone would rent one. Leperflesh fucked around with this message at 21:08 on Mar 30, 2013 |
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Mar 30, 2013 21:06
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Leperflesh posted:Home depot has an 60-gallon gas water heater (which is fairly large) for $728. They've got an 80-gallon electric one (which is very big indeed) for $999. If you splurge on a $1000 water heater, which ought to last at least 25 years, and somehow spend another grand on installation, your cost over that period is $6.66 a month. Same people that rent to own TVs?
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Mar 30, 2013 21:10
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Leperflesh posted:Home depot has an 60-gallon gas water heater (which is fairly large) for $728. They've got an 80-gallon electric one (which is very big indeed) for $999. If you splurge on a $1000 water heater, which ought to last at least 25 years, and somehow spend another grand on installation, your cost over that period is $6.66 a month. I was talking to someone a about it and apparently the appeal comes from if anything goes wrong with it, whoever you're renting from takes care of it.
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Mar 30, 2013 21:42
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Toriori posted:I was talking to someone a about it and apparently the appeal comes from if anything goes wrong with it, whoever you're renting from takes care of it. So it's for people who are really bad at math.
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Mar 30, 2013 21:51
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So this is what the seller's realtor just sent to me:quote:The sellers accepted the offer of $187,000 and asked the buyers for the $3,000 deposit which we see they accepted. We stated that the house would then be “As Is”. This means that the buyers are welcome to do as many inspections as they want. The sellers just won’t put any money out of pocket for anything the inspectors MAY deem deficient. Does the "as is" qualifier change anything to the deal in the sense that I get less of a warranty or means to go after a dishonest seller? The deal provides for a home warranty. Or is this just them being weird about not wanting to put any more money towards the house?
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Mar 30, 2013 22:03
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