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BeastOfExmoor posted:I suppose in a hot market where prices keep increasing the feeling might be that the market will get there eventually. That said, in a market where everything decent is selling within the first ten days (often for over asking), potential buyers may not even pay attention to older houses. We were looking at only houses that had just listed after our first couple weeks of looking. One home we looked at had been sitting there for months, but it had some bad problems. So the sellers agent would do a price change for an hour or so, to bump it into the new listings. She did that for a few weeks before she stopped.
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# ? Aug 11, 2016 11:39 |
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# ? Jun 4, 2024 22:20 |
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Magicaljesus posted:In Portland, homes on the market for more than a week in that price range do not have offers for good reasons. Thanks. Yeah we've been looking casually for several months and seriously for about a month so I think we have a good feel for what the property is actually worth and that the combo of price/addition is what's keeping this one on the market. Just to clarify though, it is a true 2 bed/1 bath - the addition would make it a 3/2. We're not near the top of our range really with this house, and we will be offering well below asking. The current owner is not willing to retroactively permit due to the amount of time that may take. Our primary concern is the lender saying no at the last minute after we've paid out of pocket for things like inspection, appraisal, etc. The property taxes thing is interesting. I have read a lot about property taxes here in the lead up to buying, but hadn't read anything specific about what completing an addition would do to taxes since that wasn't something that was on our radar before this weekend. I'll have to find out how that process works. Thanks again.
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# ? Aug 11, 2016 14:53 |
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Sub Par posted:Thanks. Yeah we've been looking casually for several months and seriously for about a month so I think we have a good feel for what the property is actually worth and that the combo of price/addition is what's keeping this one on the market. Just to clarify though, it is a true 2 bed/1 bath - the addition would make it a 3/2.
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# ? Aug 11, 2016 15:03 |
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Drunk Tomato posted:This specific house has already dropped $10k in price after each 30 day period on the market. The next logical progression was a price drop today, which is the same amount we offered for. No dice. Makes more sense, psychologically, with the failed inspection. I'm guessing current price plus the cost of repairs for the inspection issues is right around what that accepted offer was, and they're unwilling to accept that offer isn't coming back.
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# ? Aug 11, 2016 16:34 |
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Well after calling a bunch of city and county departments and doing some research, we've learned some things about this house. First of all, the current owner is wrong about the room in question being a converted garage. It never was a garage, it has always been enclosed storage, since the house was built. That's how it's listed with the county, and when you look at other houses in the neighborhood that were built the same year with the same floorplan, none of them are garages - they are all "enclosed storage". So that means it isn't a garage conversion, it's just a pre-existing unfinished room that someone at some point put up drywall in and built a bathroom in. This explains how the thing can be so nicely done but still have glaring idiot mistakes like the electrical panel in the bathroom - everything is original except the bathroom. We are arranging for a general contractor to come look at the place and tell us more about the bathroom, what it would take to retroactively permit, how well it is/isn't built, etc. so we can make a better decision.
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# ? Aug 11, 2016 18:52 |
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I'm hoping someone here is or knows someone who can do an inspection on a condo in NW Indiana, the place I'm looking at is in Griffith I was a second from asking my realtor when I remembered reading here that that's a terrible idea. Any suggestions would be great!!
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# ? Aug 11, 2016 21:01 |
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So I went and looked at a house over the weekend. I really liked how it was set up, it had a great fenced in back yard with a fire pit, the taxes will be low, and it was in a spectacular location close to work and in a good, quiet neighborhood. However, what gives me pause is the fact that it was built all the way back in 1930, nearly a hundred years ago. I'm worried about asbestos, lead paint, horrible electrical work, etc. Plus, looking at the roof I saw a few spots in which the shingles bulged outwards slightly and were not even and flush with the rest of the roof. Also, according to realtor.com, the property has been sold 5 times in the past 13 years. What gives? Is this place a hot potato waiting for the next sucker who gets more than he bargained for? After the down payment and closing costs I really wouldn't have too much cash to spare for major repairs. I like this house a lot, but I don't want to waste my time and money making an offer and having it inspected only to be told that the roof needs a total replacement in the next 3 months, or any other catastrophic problem I can't afford to fix and I would be willing the seller wouldn't want to fix either. Am I just being paranoid, or should I trust my gut and disappointingly pass on making an offer?
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# ? Aug 12, 2016 01:11 |
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Vinny the Shark posted:So I went and looked at a house over the weekend. I really liked how it was set up, it had a great fenced in back yard with a fire pit, the taxes will be low, and it was in a spectacular location close to work and in a good, quiet neighborhood. I know condos offer this, so excuse me if I'm naïve to houses, but shouldn't recent major repairs be something your realtor or the seller be able to find out/tell you? Certain things also can hold out for a bit and be replaced in time, so should you decide to shell out for an inspection that will give you a better idea. The fact that no one has really held onto it is suspicious but again maybe your realtor can find out some of that info? Maybe it happened to be a starter home for a bunch of couples? Maybe it's haunted. I would bite the bullet and get an inspection and go from there. If you're really trying to pinch pennies, you could take a friend/colleague/bored neighbor/whoever that has some know how and have them do a walk through with you. They'd be able to spot trouble areas and give you an idea on whether it's worth the investment or not. Please keep in mind I've never bought a home, I've only ever looked at condos due to my budget, and as the eldest girl of 4 boys and a dad I have a lot of handy men at my disposal so my entire point of view could be different or off from yours
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# ? Aug 12, 2016 01:21 |
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Magicaljesus posted:In Portland, homes on the market for more than a week in that price range do not have offers for good reasons. The house is either overpriced and not comparable to other homes nearby, or there is something wrong with it. The latter bit is something you may be able to work with, depending on what's wrong. Are taxes not reassessed after a sale? Vinny the Shark posted:I'm worried about asbestos, lead paint, Any home built before 1978 could have lead paint. Any homes built before 1990 could have asbestos, practically anything after 1979 will not have asbestos. You should get a good home inspector to identify any issues and then get a more specialized inspector for the roof or any other serious issues identified. Replacing a roof is an expensive repair but all roofs will have to be replaced eventually. A specialist can tell you if it just needs new shingles or if you are looking at a more expensive repair. Don't fall in love with a house.
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# ? Aug 12, 2016 02:08 |
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Vinny the Shark posted:So I went and looked at a house over the weekend. I really liked how it was set up, it had a great fenced in back yard with a fire pit, the taxes will be low, and it was in a spectacular location close to work and in a good, quiet neighborhood.
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# ? Aug 12, 2016 02:12 |
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lampey posted:Are taxes not reassessed after a sale? No, not in Portland anyway.
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# ? Aug 12, 2016 08:07 |
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lampey posted:Any home built before 1978 could have lead paint. This is often cited, but there's little basis to support 1978 as a lead paint safety cutoff. The 1978 "Lead Paint Ban" banned the manufacture of lead-containing house paint. Lead containing house paint manufactured before then could still legally be sold, bought, and used after the ban took effect, and to this day lead paint is still manufactured and sold for some other applications (mostly marine paints). Lead containing paint was already well out of style in the '70s, so 1978 isn't at all the sharp Yes/No cutoff it is regularly made out to be. If a house was built before ~1925, it is very likely to have lead paint on interior walls (if it hasn't been completely gutted). If a house was built before ~1950, it is very likely to have lead paint on exterior walls & trim, and fairly likely on interior trim (window frames for operable windows in particular are the biggest concern here; friction from operating them can generate dangerous amounts of lead dust, and they don't encapsulate well). Houses newer than that typically only have exterior lead paint, when they have it at all. lampey posted:practically anything after 1979 will not have asbestos. Except when they used vermiculite attic insulation.
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# ? Aug 12, 2016 19:49 |
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Zhentar posted:If a house was built before ~1925, it is very likely to have lead paint on interior walls (if it hasn't been completely gutted). If a house was built before ~1950, it is very likely to have lead paint on exterior walls & trim, and fairly likely on interior trim (window frames for operable windows in particular are the biggest concern here; friction from operating them can generate dangerous amounts of lead dust, and they don't encapsulate well). Houses newer than that typically only have exterior lead paint, when they have it at all. I wonder, though, is this still true? Since it has been almost 40 years since the banning of lead paint, and most houses change hands every 5-10 years, wouldn't it seem likely that at least one out of the previous five or so owners had thought to remove interior lead paint?
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# ? Aug 12, 2016 20:54 |
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Haha no. No one is "removing paint" from the interior of a home unless they are literally taking the walls down.
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# ? Aug 12, 2016 20:56 |
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Drunk Tomato posted:I wonder, though, is this still true? Since it has been almost 40 years since the banning of lead paint, and most houses change hands every 5-10 years, wouldn't it seem likely that at least one out of the previous five or so owners had thought to remove interior lead paint? Or just paint over it because "gently caress it, not my problem anymore!" and leave it off disclosure documents.
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# ? Aug 12, 2016 20:57 |
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DJCobol posted:Or just paint over it because "gently caress it, not my problem anymore!" That's called "encapsulation", and with the exception of window frames is generally the recommended remediation (and even for window frames it often gets recommended based on outdated advisements). The act of removing the lead paint can create an enormous amount of hazardous lead dust, potentially making it far worse than doing nothing.
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# ? Aug 12, 2016 22:36 |
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Finally closed and moved in. Going through some of the issues we knew about with an electrician. If I ever but again, I would be really tempted to have actual tradesmen come in for the inspection instead of the home inspector. Once the electrician started digging into stuff, more things popped up naturally. But the fees to have everyone come out seem comparable to having one home inspector come out.
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# ? Aug 16, 2016 18:39 |
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Selling a house has way less stuff to sign than buying a house, yowsers. 11% gain on my house in a year locked in and liquidated. Breaking out the 18 Year Glenlivet.
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# ? Aug 17, 2016 01:57 |
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necrobobsledder posted:Selling a house has way less stuff to sign than buying a house, yowsers. 11% gain on my house in a year locked in and liquidated. Breaking out the 18 Year Glenlivet. Signing papers to sell tomorrow. Up Escrow company managed to gently caress stuff up and not order our payoff statement until today. I will be so happy to not have to deal with this process again for a long time. So you made 11% after selling fees, etc?
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# ? Aug 17, 2016 02:51 |
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necrobobsledder posted:Selling a house has way less stuff to sign than buying a house, yowsers. 11% gain on my house in a year locked in and liquidated. Breaking out the 18 Year Glenlivet.
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# ? Aug 17, 2016 03:41 |
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Has anyone tried using Redfin to sell their house? My wife and I were stuck in the middle between renting our place out, or selling it. Since we're not 100% sure what to list it for, Redfin said they'd come out and give us a free consultation, and give us an idea of what we could sell it for. However, it's been like 2.5 weeks, and still haven't heard anything back from them. Granted, our house is basically the nicest house in a nice newer gated community, plunked down on the outskirts of shitsville and the middle of nowhere, so comps aren't exactly the easiest thing to come by, but 2.5 weeks to come up with a number seems a little long, no?
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# ? Aug 17, 2016 14:42 |
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BeastOfExmoor posted:Signing papers to sell tomorrow. Up Escrow company managed to gently caress stuff up and not order our payoff statement until today. I will be so happy to not have to deal with this process again for a long time. I think the worst part I had in the buying and experience was getting papers notarized for real estate transactions across state lines. Going back to renting sucks when you have an incompetent property manager that doesn't know anything. Dik Hz posted:drat, at least get a decent single malt for that.
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# ? Aug 17, 2016 15:11 |
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Capt. Awesome posted:Has anyone tried using Redfin to sell their house? My wife and I were stuck in the middle between renting our place out, or selling it. Since we're not 100% sure what to list it for, Redfin said they'd come out and give us a free consultation, and give us an idea of what we could sell it for. However, it's been like 2.5 weeks, and still haven't heard anything back from them. Granted, our house is basically the nicest house in a nice newer gated community, plunked down on the outskirts of shitsville and the middle of nowhere, so comps aren't exactly the easiest thing to come by, but 2.5 weeks to come up with a number seems a little long, no? Something is screwy for sure. I haven't sold anything with them, but I did try to use them as a buyer's agent, and I was told many times that if I were unhappy with my agent, I could switch agents. Maybe try to switch to a different agent? I know this can be done on their website.
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# ? Aug 17, 2016 15:48 |
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chupacabraTERROR posted:Something is screwy for sure. I haven't sold anything with them, but I did try to use them as a buyer's agent, and I was told many times that if I were unhappy with my agent, I could switch agents. Maybe try to switch to a different agent? I know this can be done on their website. Nice. I'll reach back out to the team that put us in touch with the agent originally, and see if we can get someone else to come out and help us. They put together a nice little schpeal, and the numbers speak for themselves, so I'd still really like to try using them as my selling agent if at all possible.
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# ? Aug 17, 2016 16:10 |
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necrobobsledder posted:The weirdest thing I found was that our payoff date was for three days after the closing date. I probably should have asked about it, but with the amount I made and the luck I had overall on the transaction I'd rather not complain. I believe this is pretty normal. You pay an extra couple days of interest and then the bank refunds it to you. But that way if closing gets delayed a few days you don't have to call up the bank and get a new payoff quote.
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# ? Aug 17, 2016 16:32 |
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We closed nearly a month ago. Should I have received some kind of paperwork from my homeowner's insurance by now confirming that our house is in fact actually insured? I'm feeling vaguely concerned.
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# ? Aug 17, 2016 20:29 |
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GameCube posted:We closed nearly a month ago. Should I have received some kind of paperwork from my homeowner's insurance by now confirming that our house is in fact actually insured? I'm feeling vaguely concerned. Yes. Call.
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# ? Aug 17, 2016 20:42 |
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GameCube posted:We closed nearly a month ago. Should I have received some kind of paperwork from my homeowner's insurance by now confirming that our house is in fact actually insured? I'm feeling vaguely concerned. I'd be surprised if your lender let you close if they weren't satisfied you were covered. But yeah, no harm to check.
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# ? Aug 17, 2016 20:46 |
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Thufir posted:I'd be surprised if your lender let you close if they weren't satisfied you were covered. But yeah, no harm to check. Yeah, the lender would have required proof of payment as part of closing which is normally one of the line item fees on your closing statement. If you bought a condo / PUD that is covered by a master policy taken out by your HOA then you probably don't receive anything new directly since the HOA is the insured entity, but that doesn't cover any of your personal belongings. Can't hurt to check in either case.
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# ? Aug 17, 2016 20:55 |
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GameCube posted:We closed nearly a month ago. Should I have received some kind of paperwork from my homeowner's insurance by now confirming that our house is in fact actually insured? I'm feeling vaguely concerned. Does your house have a basement?
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# ? Aug 18, 2016 00:12 |
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Citizen Tayne posted:Does your house have a basement? I am protected
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# ? Aug 18, 2016 02:26 |
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Citizen Tayne posted:Does your house have a basement? It does. It is "10% finished," according to something somewhere. I forget what it was now.
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# ? Aug 18, 2016 03:24 |
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Nice! Put a workbench down there so you can drink beer and listen to baseball.
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# ? Aug 18, 2016 13:51 |
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The basement is definitely going to be the place I go to to escape my family, and by "my family" I mean my cats.
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# ? Aug 18, 2016 18:09 |
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I am under contract for a house, we close in October. I'm a first time homebuyer. The inspection is done and things look good, some minor repairs and stuff but nothing crazy. We're currently waiting on appraisal. In the meantime, I'm shopping for homeowners insurance which I know very little about. Any tips about how to shop (should I check out brokers or get quotes on my own?) or what kind of coverage to look for? We don't live in a flood zone and we won't be getting earthquake insurance. Any advice or "man I wish I had known X..." would be appreciated. Thanks!
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# ? Aug 19, 2016 05:45 |
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our state has this thing where they basically ask for quotes from every licensed insurance agency for a set of predefined homes and then they put those values in a big table so that you can easily compare and contrast roughly how the different insurance companies compare on price and roughly what a house of size X, Y, or Z would cost to insure. It was really useful. See if your state has something similar
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# ? Aug 19, 2016 08:20 |
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Going to look at properties for the first time today. May God have mercy on my soul.
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# ? Aug 20, 2016 01:30 |
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Got pre approved for a mortgage today. The amount of money they're willing to lend to an obviously-untrustworthy goon is staggering. Also, the fact that the guy has thus far "forgotten" to include a full term sheet or even the estimated interest rates three times now is indication that I should run screaming in the other direction, correct?
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# ? Aug 20, 2016 01:38 |
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MrYenko posted:Got pre approved for a mortgage today. The amount of money they're willing to lend to an obviously-untrustworthy goon is staggering. You greatly underestimate what it means to live "indoors", has upon the motivation of anyone, this includes, but is not limited to, Goons. Human beings like their roofs, yo. Welcome to the outskirts.... I tell you what... Welcome to, your first stop upon the River Styx.
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# ? Aug 20, 2016 01:54 |
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# ? Jun 4, 2024 22:20 |
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MrYenko posted:Got pre approved for a mortgage today. The amount of money they're willing to lend to an obviously-untrustworthy goon is staggering. I think so, yes. Plenty of good mortgage agents out there
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# ? Aug 20, 2016 02:26 |