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In America you submit an amended contract when you ask for a concession. They can accept, counter with their original or a modified terms, or reject. If they reject, then the contract is/can be considered walked away from. It's a risk you take. They should know that they'll have to pay for it or fix it regardless of who buys though, so they'll probably want to fix it. It's not like you're asking for 5k because you want to paint when they move out.
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Aug 14, 2015 16:41
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Leperflesh posted:Christ. First realtors are all horrible people, and now "bosses" are all horrible people too. In both case, the solution is open markets. But you're hosed if all the realtors in your market are basically a cartel that will freeze out anyone who doesn't work on their terms. And you're hosed if there is only one employer for your job in your market. And you can't really call people bad people for maximizing their own money in a negotiation, any more than you should feel bad for winning a negotiation. But, you also can't dismiss the people who point out these incentives. They're trying to help by pointing them out. You'll get more money selling your house or negotiating your salary if you are aware of those incentives.
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Aug 14, 2015 18:10
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Dik Hz posted:It's not that either are all horrible people. It's that both have a perverse incentive to you. Your realtor gets paid more if they close quickly, which means convincing you to take a lower number than you'd get if you held out longer. Your company is more profitable if they can convince you to work for less money. I agree with all of this, and was specifically addressing the people who do not express any sort of subtlety or complication to the situation and instead just outright tell people - sometimes directly in the form of advice - that literally every single realtor/boss is literally evil. That sort of hyperbole is frustrating and stupid. Even leaving that aside, the idea that "if the employer knows you need money badly, they'll likely give you less" is stupid. Does the employer want to retain you or not? If they do, shorting you when they know you cannot accept less money is against their own goal of retaining you. If you can't afford to stay at this job, you'll leave for one that pays better. On the other hand, if the employer doesn't care about retaining you, then the fact you need money badly doesn't enter into it: they'll simply deny you a raise. From the employer's perspective, it's impossible really to know just how much money an employee "needs" or is desperate for, without a lot of intimate details of their personal and financial situation, and those details usually aren't available. Much more available is the salary data on what they're paying your co-workers, the budget information on what they can afford, and the performance information that helps them decide what they think your work and experience is worth right now. I'm sure there are assholes out there who counterproductively undermine their own employee retention needs by refusing to compensate appropriately to the information I just mentioned, but they're not likely a majority and can't possibly be literally every employer. Similarly: while buyer's agents do have a direct immediate financial incentive to get their clients to both pay a high price and close quickly, in the long term, realtors depend a great deal on reputation and word-of-mouth for their business. Giving your customers reasons to have a lot of remorse over the deal you pushed them into is counterproductive to establishing a good reputation among your customer base. So while there are plenty of horror stories of realtors with short-term perspectives putting their own commission size ahead of their clients' best interest, there are also plenty of realtors who recognize this probably hurts them in the long run... and others who are just actually decent human beings not willing to take advantage of their clients. I know of at least one, because even years later, I'm quite certain my own buyer's agent gave us tremendous value, never pressured us to bid on anything, patiently took us to houses for months, and eventually was completely polite and apparently happy to accept his much-smaller-than-accustomed paycheck when we bought a cheap foreclosed house. I don't think he was the only realtor in America who operates that way. He has a really good reputation and has since benefitted from our suggesting him to other people we know who are shopping for houses, so the strategy of not being a shithead actually is working for him. Again: I agree with you that the systems we're talking about are hosed up. Employees are at a severe disadvantage due in part to the American cultural taboo about discussing our salaries with our friends and co-workers; additionally to our lack of unions and collective bargaining in most industries; and even more due to the uneven distribution of work, such that many people have no choice but to take whatever job the one local employer they can work for is offering, at whatever compensation that employer deigns to give them. And the real estate cabal is real, and it sucks, and we shouldn't have to pay our buyers' agents a flat commission based on the home price, etc. etc. Just... this tendency towards hyperbole about realtors (and now employers too) really gets on my nerves.
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Aug 14, 2015 19:44
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Leperflesh posted:Similarly: while buyer's agents do have a direct immediate financial incentive to get their clients to both pay a high price and close quickly, in the long term, realtors depend a great deal on reputation and word-of-mouth for their business. Giving your customers reasons to have a lot of remorse over the deal you pushed them into is counterproductive to establishing a good reputation among your customer base. So while there are plenty of horror stories of realtors with short-term perspectives putting their own commission size ahead of their clients' best interest, there are also plenty of realtors who recognize this probably hurts them in the long run... and others who are just actually decent human beings not willing to take advantage of their clients. I agree with this. At this point I have done more rentals than sales, but the other thing you can do to increase your chances of getting good service is to be a good client. A huge part of this means working with just one broker. They are working for a commission, but if they see you are serious and something will eventually come of their efforts a good broker can work miracles, let you know as things come on the market, introduce you to areas you never thought about, and they can be worth their weight in gold. But if you are a bad client, slow with communication, not really serious and just sort of window shopping, misrepresenting yourself, or jumping around to whatever agent you see on Zillow, then even a good, ethical agent is going to be half-assed about things.
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Aug 14, 2015 19:59
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NtotheTC posted:Finally got the survey back on the property we're buying, and there were issues with the wood framed double glazing meaning they need to be replaced, it's about £2-3k worth of work and I was going to do what appears to be the standard thing of asking the seller to front some of the cost, but I don't know really how to go about the negotiations. He could very well just say "no" and I'd have to go "well all right then" because I'd rather not let this house go. I'm also not sure how the process goes if he does agree- I presumably have to contact my mortgage lender again and say that the mortgage has been reduced- does that then mean an additional waiting period while they adjust things, then even more time spent having contracts drawn up again? I'm just trying to get my head around the various factors in play to weigh up what it's worth doing. The only thing I would be worried about from your end (other than the seller saying no when you ask for the money) is if your survey requires the work to be completed prior to the closing of the transaction. That can be fairly common with Appraisers in the United States, making their report "Subject to" any number of factors (repair work being one of them). Assuming the survey doesn't create any new conditions, then yeah the lowering of the loan amount should be something done fairly quickly and you just cross your fingers hoping the seller agrees to the give you the funds.
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Aug 14, 2015 20:50
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Yesterday at 10AM: "You'll definitely have your HUD-1 in an hour or so, by lunchtime at the absolute latest!" Today at 4PM: Still waiting... (close next Thursday) Not enough time for my fiancee to get my a check, so we're splitting the closing costs across two different cashiers checks. Should be fun
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Aug 14, 2015 21:56
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I was supposed to sign the loan docs for a closing on the 20th, but it's delayed pending a new mold inspection. There was supposed to be one after some insurance work but it can't be found now. I'm glad I didn't rent a moving truck or give notice to my current rental. There will always be unexpected delays
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Aug 14, 2015 23:00
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Finally got an offer accepted, they want us to get inspections done in 12 days. Crossing our fingers this doesn't go completely terrible!
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Aug 14, 2015 23:48
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We closed on the house today! Gonna be strapped for cash over the next few months as we juggle rent and mortgage and everything else that goes into getting a home! Hooray!
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Aug 15, 2015 00:34
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^^ I'm discovering just how utterly useless my inspection turned out to be. The inspector missed termites in a rotten windowsill, electrical arcing/burning behind the kitchen receptacles, lack of a main breaker and other electrical shenanigans (eg new romex till the first receptacle on a circuit, then hundred year old braided cloth/tar wires for the rest of it), lack of eave ventilation for the attic, lack of outside ventilation for the decrepit bathroom fan, broken siding where Time Warner used a hammer as a drill to create a service entrance, basement flooding, joists sawed in half by enterprising hvac duct installers, and on and on. But he did point out that the top half of the 120 year old windows (which I've largely replaced anyways since then) didn't open! Realistically, I don't expect an inspector to catch all of that, but some of it would have been nice. Especially the termites. Being a first time home buyer sucks... at least it's a good education 
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Aug 15, 2015 00:37
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OSU_Matthew posted:^^ I'm discovering just how utterly useless my inspection turned out to be. The inspector missed termites in a rotten windowsill, electrical arcing/burning behind the kitchen receptacles, lack of a main breaker and other electrical shenanigans (eg new romex till the first receptacle on a circuit, then hundred year old braided cloth/tar wires for the rest of it), lack of eave ventilation for the attic, lack of outside ventilation for the decrepit bathroom fan, broken siding where Time Warner used a hammer as a drill to create a service entrance, basement flooding, joists sawed in half by enterprising hvac duct installers, and on and on. This is why I feel a potential home buyer should be there when the inspection happens, and inspect as well. These are all things you noticed since moving in, right? They probably were all/almost all noticeable before moving in, too...
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Aug 15, 2015 00:52
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Omne posted:Yesterday at 10AM: "You'll definitely have your HUD-1 in an hour or so, by lunchtime at the absolute latest!" Wow, you have that much time? Here's what our attorney said: quote:Our office will perform a 40 year title search on the property you are purchasing to confirm clear title. We will receive a closing package from [bank], typically a day or two prior to closing. The closing documents contain the closing figures to complete a HUD settlement statement. This document is the final financing statement which includes all fees, costs, and credits for both you and the seller. The HUD settlement statement will show the final amount due from you at closing Bolding mine. One to two days before close is when we get the actual, final, amounts due. Though we do have the GFE, so it's not like we're going in totally blind as to the amounts. It'll will likely be within $1000 of that, right?
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Aug 15, 2015 01:14
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Welp, our real estate agent is out of town tomorrow through Wednesday. We're out of town next Wednesday through Sunday. Let's see what else happens in this week's episode of Buying a Fuckin House
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Aug 15, 2015 01:27
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OSU_Matthew posted:Being a first time home buyer sucks... at least it's a good education Right there with ya. Among other things, we've discovered this week (after moving in last month) that one of the huge spruce trees in the backyard is either sick or past the point of no return already - and it's right up close to a neighbor's fence, so we're probably just going to have it taken down. Combined with that and several multi-trunk silver maples that probably need to be cabled or cut down, looking at another $1200+ for tree care on top of another $1300 or so of other repairs so far. On the plus side, we found walnut & cedar seedlings growing randomly in another part of the yard, so we'll have something to replace them with, maybe 
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Aug 15, 2015 01:38
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DrBouvenstein posted:Wow, you have that much time? Probably, though depending on your funding date your daily interest and initial deposit to escrow can fluctuate wildly. Look at page 3 of your GFE, the top table is labeled "Understanding which charges can change at settlement" and breaks the different types of fees out into 3 categories which have corresponding sections on page 2, you can use that to figure out which of your fees cannot increase at all, which can increase by up to 10%, and which can increase by any amount. Any of those fees can go down of course as well. Your interest payment starts accruing from the day your loan funds, so your settlement agent will collect a per diem amount of interest covering to the first payment due date, so if you have a large loan amount/high-ish interest rate there can be a significant difference in the amount you have to front to cover the interest depending on if you close early in a month or late in it. Depending on when your county collects property taxes that can also throw things off a bit - if I recall correctly my old bank would require the next tax installment to be collected if the taxes were due in the next 60 days which was in addition to typically collecting a 2 month buffer of the estimated escrow amount (your annual tax + insurance premium divided over 12 months). Some of the pre-emptive tax collection stuff could be waived depending on circumstances (read: gently caress off, poors), but generally that was how they handled it.
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Aug 15, 2015 02:30
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So a window got left open all day in the rain, and I think the window sill soaked up water. Picture of what it looks like is attached. Is there anything I can do to fix it? [edit]Bleh, thought attachment images would do the timg thing. Sorry about the large image. modedit: here you go 
Somebody fucked around with this message at 04:43 on Aug 15, 2015 |
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Aug 15, 2015 04:13
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Oh, and, http://forums.somethingawful.com/showthread.php?threadid=2734407
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Aug 15, 2015 04:44
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Thank you
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Aug 15, 2015 04:48
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OSU_Matthew posted:Being a first time home buyer sucks... at least it's a good education I got transferred halfway across the country. I have a pit bull and 2 cats - renting was so not going to happen so we decided to buy a house. Found one, offered/counter-offered, got the price down and a nice chunk of change for closing costs. Inspection seems thorough, appraisal came in for more than the agreed upon sale price and now we are 2 weeks away from our closing date. That doesn't sound too unusual except when I add in the fact that 4 days before closing we're packing up all of our poo poo and the animals and making the drive to the new house. If there's a delay we stay in a motel (on my company's dime because gently caress if I'm paying for this move on my own.) Tuesday the final check on my credit & employment is made. The seller has already had one of the repairs/fixes we asked for after the inspection done and will have the occupancy inspection/permit completed next Wednesday. We'd been preparing for going through this process in Seattle so our credit and cash reserves were already in order, which helps, but this is still a ridiculous way to buy a house. When we walk out of the realtor's office with the keys on the 28th (fingers crossed) it will be 40 days exactly from the date we made the initial offer.
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Aug 15, 2015 06:14
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Did you even check the rental home market? With an agent I mean, not a 2 minute sweep of zillow and Craigslist
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Aug 15, 2015 06:47
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QuarkJets posted:Did you even check the rental home market? With an agent I mean, not a 2 minute sweep of zillow and Craigslist There were many sleepless nights and hand-wringing and discussions. So many discussions. We're super happy with the outcome, our new little house is a great fit for us, and we aren't going broke getting in to it - the most important thing.
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Aug 15, 2015 07:38
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DrBouvenstein posted:Wow, you have that much time? Yeah, our process has been pretty smooth. We actually got our final closing packet today, so about five full days ahead of time. Plenty of time to get our cashiers checks. Movers are scheduled for three days after closing, utilities are set to go into our names the day we close, I think we are ready to go. Now it's time for our AC to die, termites to bring our house down, and discover a secret crack den in the smoldering ruins.
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Aug 15, 2015 20:40
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Leperflesh posted:I know of at least one, because even years later, I'm quite certain my own buyer's agent gave us tremendous value, never pressured us to bid on anything, patiently took us to houses for months, and eventually was completely polite and apparently happy to accept his much-smaller-than-accustomed paycheck when we bought a cheap foreclosed house. I don't think he was the only realtor in America who operates that way. He has a really good reputation and has since benefitted from our suggesting him to other people we know who are shopping for houses, so the strategy of not being a shithead actually is working for him.
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Aug 15, 2015 22:22
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https://www.redfin.com/CO/Golden/413-Peery-Pkwy-80403/home/34358946 I think I've found my next home! I should be fine waiving all inspection contingencies, right?
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Aug 17, 2015 01:36
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ixo posted:https://www.redfin.com/CO/Golden/413-Peery-Pkwy-80403/home/34358946 
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Aug 17, 2015 01:43
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ixo posted:https://www.redfin.com/CO/Golden/413-Peery-Pkwy-80403/home/34358946 pssssh. you want a fixer upper? i'll give you a fixer upper. https://www.redfin.com/IL/Chicago/8026-S-Wood-St-60620/home/56353408
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Aug 17, 2015 03:01
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ixo posted:https://www.redfin.com/CO/Golden/413-Peery-Pkwy-80403/home/34358946 Why is that area so hot?
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Aug 17, 2015 03:13
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minivanmegafun posted:pssssh. you want a fixer upper? i'll give you a fixer upper. I see a lot of unused rectories and priest residences on the job. They are creepy as gently caress and going by those pictures, that one is no exception.
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Aug 17, 2015 04:08
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minivanmegafun posted:pssssh. you want a fixer upper? i'll give you a fixer upper. That's gorgeous. And 14k square foot. Perfect for you and your closest friends.
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Aug 17, 2015 05:09
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minivanmegafun posted:pssssh. you want a fixer upper? i'll give you a fixer upper. Is your name Alice? You should totally get it. Then host thanksgiving dinners that can't be beat.
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Aug 17, 2015 11:59
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SiGmA_X posted:This is why I feel a potential home buyer should be there when the inspection happens, and inspect as well. These are all things you noticed since moving in, right? They probably were all/almost all noticeable before moving in, too... I thought that was the whole point of getting a home inspected though? Most people aren't experts on everything that makes a home functional. For instance, the sellers of my house claimed the "electric was updated in 06". Sure enough, new panel with new romex coming out of it, so it seems legit, right? It's not knob and tube, so I thought I was in the clear. Well, after discovering the wiring is new only to the first receptacle in the circuit and doing my own digging while doing stuff like adding gfci's, I've since found that the tamper tag on the meter is cut, and the lock is missing. Which to me suggests the "electric updated in '06" was all done under the table, not permitted or inspected, and presumably (by every standard I can tell) of abject quality with plenty of lovely shortcuts taken, eg leaving in cloth covered, crumbling braided wire after the first receptacle, stripping away too much insulation causing arcing behind outlets, pulling wire so taut it's drat near impossible to replace an outlet, leaving huge gaps between the cover plate and work box, stuff blatantly miswired (eg a switch/outlet combo wired back to itself), or two different circuits running through the same work box. Things I know about now after learning about what it takes to work on that kind of stuff, but tell me, when's the last time you've given any thought to your electric meter? I betcha your average homebuyer can't even point theirs out, let alone decipher that the meter was probably hosed with illegally. Not to say that I shouldn't have scratched under the surface more, but a lot of that is just being overwhelmed as a first time home buyer, and not knowing what kind of stuff to look for. Everything I noticed while doing my own checking over, I figured was more sweat equity and not worth haggling over, eg new windows, toilets, updating light and sink fixtures, adding gfci's, doors not closing because carpeting needs cut back and tacked down, new back door, rerouting bathroom fan ventilation and replacing it, small stuff like that. Termites, improper attic ventilation, flooring joists cut to run ducting, and electrical shenanigans are things I would have balked over had I known, and I would expect an inspector to note. Catatron Prime fucked around with this message at 16:45 on Aug 17, 2015 |
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Aug 17, 2015 16:36
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https://www.reddit.com/r/legaladvice/comments/3hbil5/home_inspection_issue_our_realtor_and_lawyer/quote:Our appointment was originally for Brad to come inspect the house, but then David showed up instead saying there was a scheduling conflict. Whatever, no big deal. David finds no major problems. He made a couple of minor recommendations but said they weren't serious and were more a personal suggestion than an inspection issue... After moving in we realize there's at least one major problem and a contractor comes to look at it. He says it would have been obvious to the home inspector Thought this belonged in this thread. No conflict of interest here!
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Aug 17, 2015 16:41
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minivanmegafun posted:pssssh. you want a fixer upper? i'll give you a fixer upper. Is there a pew in the rectory?
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Aug 17, 2015 17:09
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Spermy Smurf posted:https://www.reddit.com/r/legaladvice/comments/3hbil5/home_inspection_issue_our_realtor_and_lawyer/ holy sue the poo poo out of them
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Aug 17, 2015 18:14
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No Butt Stuff posted:holy sue the poo poo out of them Also file a complaint with the state licensing board, but since this is from a reddit user who cares.
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Aug 17, 2015 18:40
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Reddit users tend to do the dumbest possible thing when they post poo poo like that.
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Aug 17, 2015 18:52
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kitten posted:That's gorgeous. And 14k square foot. Perfect for you and your closest friends. I don't know if they were serious, but I know that one of my friends floated the idea of starting a commune there. She lives only a few blocks away.
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Aug 17, 2015 19:06
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moana posted:Let's see what else happens in this week's episode of Buying a Fuckin House Then he didn't show up because our real estate agent didn't text him back in time, or her text didn't go through, or whatever. So no home inspection until next Wednesday, the day before the inspection contingency period is over. gently caress
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Aug 17, 2015 22:25
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moana posted:The home inspector called to say he could be there today, so we drove out 45 minutes to meet him. Get your attorney on the horn, ours was more than happy to tell a seller that he'd been too busy to review the contract and get an extension.
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Aug 18, 2015 01:11
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Went to an open house yesterday and my wife fell in love with the place. As we're walking back to our car I mention to her that the neighbor across the street looks an awful lot like my co-worker (it was hard to say for sure as her back was toward us since she was getting into her house). Get in to work today and confirm that it was in fact my co-worker. She had nothing but great things to say about the neighborhood, the neighbors, and the general area. We're equals at work right now but chances are that one of us will land our boss's position in a few months. That could turn a bit awkward.
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Aug 18, 2015 02:13
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