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BigPaddy posted:Inspection on the place I am closing on Nov 30th was like that. Tons of little things and one major issue that I got the seller to credit me for. Just have to get it done before the ground freezes. Yea after researching this, it looks like this is how they typically do contracts on Long Island. I'm not too concerned though, they are ready to go into contract tomorrow right after the inspector gives the thumbs up. Also this house has been on the market since July with no offers because homes with a rental unit attached aren't as popular.
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Nov 15, 2017 15:59
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Sepist posted:Yea after researching this, it looks like this is how they typically do contracts on Long Island. I'm not too concerned though, they are ready to go into contract tomorrow right after the inspector gives the thumbs up. Also this house has been on the market since July with no offers because homes with a rental unit attached aren't as popular. Sounds like you aren't low balling them if it's taking 4-5 months to get an offer? We're back to the wierd issue of why they are being allowed to hear other offers right before winter when no one wants to move where it snows.
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Nov 15, 2017 16:36
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H110Hawk posted:Sounds like you aren't low balling them if it's taking 4-5 months to get an offer? We're back to the wierd issue of why they are being allowed to hear other offers right before winter when no one wants to move where it snows. I get what you're saying, but we offered 550 on a 5 bed/3 bath house with a full basement in an area where 550 is the comparable rate of a 3/2 on a slab. Sounded like a low ball to me.
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Nov 15, 2017 16:47
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Sepist posted:Yea after researching this, it looks like this is how they typically do contracts on Long Island. I'm not too concerned though, they are ready to go into contract tomorrow right after the inspector gives the thumbs up. Also this house has been on the market since July with no offers because homes with a rental unit attached aren't as popular. Ah Long Island, the in laws spent a year trying to sell their 4 bed 2 bath split level because it was right on the beach and people were freaking out about flood insurance.
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Nov 15, 2017 21:26
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BigPaddy posted:Ah Long Island, the in laws spent a year trying to sell their 4 bed 2 bath split level because it was right on the beach and people were freaking out about flood insurance. Sounds entirely reasonable to me.
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Nov 15, 2017 22:51
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BigPaddy posted:Ah Long Island, the in laws spent a year trying to sell their 4 bed 2 bath split level because it was right on the beach and people were freaking out about flood insurance. Price it right and it gets sold. People seem to get their own ideas about what something the own is worth and won't accept market conditions. This is why realtors fire you.
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Nov 16, 2017 02:24
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Motronic posted:Price it right and it gets sold. I reject your market forces and sell my house as a start up distributor block-chain.
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Nov 16, 2017 13:34
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That was exactly the problem. The inlaws are not that great with their finances so had to get a certain price else they couldn't close on the house they had picked out in Florida. They ended up finding someone to buy it but only after they had their cousin or something co sign for the loan. Back on my house buying odyssey the current owner has asked if I can lease the house back to her for 60 days as she has not found somewhere yet... I told her agent at the start I didn't need to close until March 2018 but they wanted to close Nov 30th and now of course it has come back to bite her on the arse. I don't need to move and having someone pay a couple of payments is nice but I know that when she moves on and I move in it will be the same time as a historic blizzard that stops New England from doing anything for a week. I agreed to let her stay with her paying the rent equal to the mortgage + $200 and she covers the utilities as they are still in her name. I am fully expecting to get hosed by this some how.
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Nov 16, 2017 14:33
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Yeah, I can't see any way that people continuing to live in a house they know is already sold could possibly go wrong
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Nov 16, 2017 15:47
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Eric the Mauve posted:Yeah, I can't see any way that people continuing to live in a house they know is already sold could possibly go wrong Its never ideal, but make sure they get renter's insurance and its not uncommon to have some money set aside in escrow - basically a security deposit.
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Nov 16, 2017 16:33
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Elephanthead posted:I reject your market forces and sell my house as a start up distributor block-chain. I’ve been pitched, unironically, real-estate-over-blockchain. (Hard pass.)
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Nov 16, 2017 17:52
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Subjunctive posted:I’ve been pitched, unironically, real-estate-over-blockchain. (Hard pass.) But think of the disclosure automation! And title changes can no longer be filed out of order! And title insurance becomes trivial! And  !
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Nov 16, 2017 18:08
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Yes, I was encouraged to think of those things! Also liens via smart contracts, and fractional ownership traded as a commodity. Hard pass.
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Nov 16, 2017 19:30
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Eric the Mauve posted:Yeah, I can't see any way that people continuing to live in a house they know is already sold could possibly go wrong Oh it is going to be a cluster gently caress, but I will wait to see what they want before saying no.
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Nov 16, 2017 19:44
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BigPaddy posted:Oh it is going to be a cluster gently caress, but I will wait to see what they want before saying no. Like I said, renter's insurance, a lease and hold back some of the money from the sale in escrow - couple grand or some %. The number may be in the contract already. Its not idea, but if its the difference between deal and no deal... For rent - PITI plus $X/day, figure out rent would be and make sure you're over that.
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Nov 16, 2017 19:57
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Subjunctive posted:Yes, I was encouraged to think of those things! Also liens via smart contracts, and fractional ownership traded as a commodity. Were they prepared to disrupt recording and not bother dealing with any of the counties potentially involved?
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Nov 16, 2017 20:05
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Look, once you render the county recorders obsolete the courts have no choice but to defer to the immutable blockchain! What do you mean my house was deeded to Weedbonerlord88 in Hitlerstan
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Nov 16, 2017 20:41
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Had our inspection done, plus a sewer scope. Spent 3 hours walking around the house with the inspector to only find minimum amount of things that are problematic. 2 shingles need to be replaced, a chimney topper installation, 3 windows require resealing, install downspout extensions and the tenant space sliding door to the 2nd floor deck needs resealing. Kind of scary in a good way how well maintained the house was. Two things that will probably fail the day I move in: The gas burner is 33 years old, and the roof is old but not deteriorated.
Sepist fucked around with this message at 23:14 on Nov 16, 2017 |
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Nov 16, 2017 23:10
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BigPaddy posted:That was exactly the problem. The inlaws are not that great with their finances... Oh hey another member of the club.
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Nov 17, 2017 00:39
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crazypeltast52 posted:Were they prepared to disrupt recording and not bother dealing with any of the counties potentially involved? They were in Canada, where it's basically a provincial issue. But I don't recall exactly, my brain had turned off by 10 minutes in.
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Nov 17, 2017 00:47
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I'm almost through the process of buying a house, and now need a homeowner's insurance quote. Any recommendations in the US, or are they all about the same?
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Nov 17, 2017 06:03
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interrodactyl posted:I'm almost through the process of buying a house, and now need a homeowner's insurance quote. Any recommendations in the US, or are they all about the same? Find a local insurance broker and let them shop for you.
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Nov 17, 2017 06:06
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interrodactyl posted:I'm almost through the process of buying a house, and now need a homeowner's insurance quote. Any recommendations in the US, or are they all about the same? Different insurers weight different factors in their pricing formulas, so be sure to check with multiple places. There can be a surprising amount of variation for the same coverage on the same house. You'll want to have an assessed value of the structure handy (should be done as part of the mortgage process), and you'll need to pick out a consistent set of coverages so you're comparing apples to apples. You can often save a bunch if you use the same company for home and auto, but this will also complicate getting quotes since you'll need to make sure all of *that* policy is the same, too... couldcareless posted:Find a local insurance broker and let them shop for you. Or this.
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Nov 17, 2017 09:29
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I have had good claim service with Travelers. Bad service with Eire. My small sample is all you should consider in making your choice.
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Nov 17, 2017 16:40
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Yikes what a mess. Thought we would be going into contract today after yesterdays inspection, however by 2pm our attorney hadn't received the contract and the seller agent isn't picking up the phone. I called the law office myself - I was told the sellers attorney had a closing today and is off of work all next week for the holidays. So it seems we won't be going into contract for another week+ Besides rescinding the offer I don't think I have any recourse here, but even that I can't do because it waives our right to an inspection refund. Edit: turns out this is my attorneys fault, he has the contract sitting in his inbox. He was referred by a friend. Red flags should have been he uses an aol account and still has an answering machine. drat! Sepist fucked around with this message at 23:12 on Nov 17, 2017 |
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Nov 17, 2017 22:20
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Sepist posted:.Edit: turns out this is my attorneys fault, he has the contract sitting in his inbox. He was referred by a friend. Red flags should have been he uses an aol account and still has an answering machine. drat! 
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Nov 17, 2017 23:42
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Sepist posted:Yikes what a mess. Thought we would be going into contract today after yesterdays inspection, however by 2pm our attorney hadn't received the contract and the seller agent isn't picking up the phone. I called the law office myself - I was told the sellers attorney had a closing today and is off of work all next week for the holidays. So it seems we won't be going into contract for another week+ Your friend is a moron. It is ok they are the best friends.
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Nov 18, 2017 14:58
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I think it's cute when people post their inspection results with comments like "only found some cosmetic problems!" as if the inspector was actually able to look at everything that could be wrong with the house. Live in the house for all four seasons and then you'll know what issues the house has. It's nearly impossible to know before you do that.
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Nov 19, 2017 04:28
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and sometimes "cosmetic problems" are like "siding is falling off, evidence of water damage in the upstairs bathroom"
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Nov 19, 2017 06:10
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HEY NONG MAN posted:I think it's cute when people post their inspection results with comments like "only found some cosmetic problems!" as if the inspector was actually able to look at everything that could be wrong with the house. Sometimes you get people like my wife’s friend who when we mentioned an issue the home inspector found, was completely flabbergasted such a person existed and that you could have a professional inspect the house before you bought it. They then balked st the fact they had to pay them. Note: This person has owned two homes and had to foreclose on them both because of hidden issues they had no money to pay for and is now living in their third home bought using some company that buys the home for you and then does a rent to own contract.
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Nov 19, 2017 08:59
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So we're 7 days in from the seller accepting our offer and still do not have a signed contract. The seller needs to make 2 changes, a new electric panel due to condensation on the main line and a repair to a sill plate in the detached garage due to termites 20 years ago. Seller is refusing to do the sill repair because their agent doesn't believe a detached garage with inactive termite damage is considered a necessary repair under FHA. I agreed to have a quote for the work done and have it repaired if necessary (ex: After the FHA inspection), but my attorney won't add that to the contract because reasons. The Underwriter also said it needs to be repaired in case they read the report, whatever that means. Now I have to try and get my mortgage broker to speak with my attorney, which probably will do gently caress-all. House-buying sucks.
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Nov 21, 2017 00:23
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Sepist posted:So we're 7 days in from the seller accepting our offer and still do not have a signed contract. I would be shocked if termite damage is NOT considered a necessary repair. Peeling paint and a loose hand rails are typically necessary repairs for FHA. If the wrong (or right) person reads that it could mess with your loan. They are trying to make sure the property is worth the loan, same reason for the appraisal.
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Nov 21, 2017 01:48
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Now our mortgage broker is telling us to get mortgage approval prior to making the repair which would require being in contract, yet our attorney still refuses to let us sign. We're gonna get another attorney tomorrow. Preferably one that doesn't use an aol account.
Sepist fucked around with this message at 02:29 on Nov 21, 2017 |
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Nov 21, 2017 02:27
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Sepist posted:Now our mortgage broker is telling us to get mortgage approval prior to making the repair which would require being in contract, yet our attorney still refuses to let us sign. We're gonna get another attorney tomorrow. Preferably one that doesn't use an aol account. The AOL account just means he's been in the biz a long time. Thats not a red flag. Why does the LO want you to get approval first? Why won't the atty let you sign?
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Nov 21, 2017 04:28
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You get get pre approved without a signed purchase agreement but I don’t see how you’d continue with the mortgage underwriting process without a signed contract. You can argue about repairs later because you have an inspection contingency (I hope)
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Nov 21, 2017 11:08
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Dukket posted:Why does the LO want you to get approval first? Because he doesn't want me spending money on repairs until the mortgage is approved. Makes sense. The attorney mentioned he would have to do some additional paperwork if I want to go into contract with a clause saying I will do the repair if FHA requires it. It sounds lazy to me that he won't do it.
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Nov 21, 2017 14:03
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This process is flying by for me and I couldn't be happier that nothing has jumped out to bite me in the rear end either on the selling or buying side. Townhouse was on the market for 9 days, offer received, negotiated for what felt like hours back and forth and then settled on a number we could both live with. In the end I am walking away with a hefty profit for only 3 years living in the place. Contract was signed yesterday morning, buyers inspection and appraisal was done today (so far no issues reported from inspection, don't expect any) - closing early December. I'm so happy to be gone from this place, 3 days into the active listing the HOA ratified a $125 dollar increase bringing the HOA fee into retarded territory. Our showings went from 6-7/day to 1 on average once people were told it was going up. HOA was already a source of woes for many would be buyers. We had to lower the price immediately once that was known to the world  - So happy to be out! My new house is near completion, they started putting in all my extras we got added in to the contract. Lawn was graded nicely and cleaned up for SOD (which I was surprised about after hearing so many horror stories from new builds and sod being laid over construction debris and trash. Just need to do the initial builder walk through/punch list for closing. I don't know if I should hire and inspector now or wait until our 3 month follow up. I feel like we should live there for a couple months to see if any issues pop up, then have inspector come and check everything and add those to the list. Then do the same thing at the 12 month one for any new issues that might arise. I read this somewhere and it seemed like a better idea than a pre-close inspection because it gives the house more time to settle and roll through a couple seasons to see if anything changes. Thoughts? Closing on dis place the day after the townhouse closes. Going to be a busy couple weeks before Chri'mas
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Nov 21, 2017 22:35
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Took a dump in my new home. Now it’s truly mine.
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Nov 26, 2017 00:50
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Hell yeah clog it up because that poo poo is yours. Congratulations. 
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Nov 26, 2017 00:54
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Mandalay posted:Took a dump in my new home. Now it’s truly mine. New thread title right here.
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