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I don't know how far y'all think 1000 feet is, but I live half a block from an elementary school and walk my dog past a sex offenders house every morning.
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Dec 18, 2018 21:29
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| # ? May 29, 2024 18:20 |
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It wouldn't stop me. Home ownership is a long game and are you going to sell your house if a sex offender moves in down the street? I wouldn't consider it.
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Dec 18, 2018 21:44
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You better check your mortgage because you're living in gently caress CITY E: My area is also full of child molesters and schools. 
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Dec 18, 2018 21:52
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SpartanIvy posted:You better check your mortgage because you just bought a house in gently caress CITY
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Dec 18, 2018 21:53
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My subdivisions sex offender must have moved or dropped off or died. Still plenty within 2 miles.
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Dec 18, 2018 23:19
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lampey posted:It is really just a calculator. You have to use your own numbers for things like how long you will be there before moving, the interest rate, expected appreciation, property taxes, etc. The numbers it starts with are not necessarily accurate for your situation. If you put in 20 years before moving or you use higher expected appreciation and rent increases owning a home is much cheaper than renting Oh no I know. I put in all the numbers applicable to me. I meant are the calculations still valid or close to reasonable still?
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Dec 19, 2018 00:03
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So when the VA managed to share all the SSNs and identifying information of all of it's employees, we all got free sign ups for identify monitoring services. Kind of useful I guess, except for the fact that when I was living in the city, all of the notifications I got once every 3-4 weeks were for sex offenders moving in within a mile or two of where I lived. From what I could tell it's basically impossible to find anywhere in a city that isn't populated by registered sex offenders within a few hundred feet.
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Dec 19, 2018 01:53
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https://m.youtube.com/watch?v=VfCYZ3pks48
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Dec 19, 2018 01:59
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Fhqwhgads posted:Oh no I know. I put in all the numbers applicable to me. I meant are the calculations still valid or close to reasonable still? It depends on where you are looking and what alternatives you have. If you live in NYC(or SF or Miami etc), you have great credit and enough savings to get a competitive interest rate the break even between renting and buying is about 10 years. Renting is a pretty good deal in most high cost of living areas
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Dec 19, 2018 05:08
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So after all that, the house needs waaaay more work than what it looked like from the photos and is super weird in person. It is 900sqft and somehow they've cut the basement up into 6 different rooms, the floor in the kitchen has an extremely noticible hump and I'd probably need to complete gut it, and there is a weird outbuilding with a massive (like, 8'x8', solid steel) interior door that makes me wonder if it truly was someone's murderroom. Probably just a gym. Probably a pass unless I can really lowball it.
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Dec 19, 2018 20:31
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If a house is contigent, am I allowed to have my agent make a run at the sellers agent? This is a stupid part of this that I dont know anything about.
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Dec 20, 2018 01:11
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cr0y posted:If a house is contigent, am I allowed to have my agent make a run at the sellers agent? This is a stupid part of this that I dont know anything about. Like, there's another offer on the table that's contingent? That's how I got my house, it was pending with an offer, but since mine didn't have a contingency they accepted my offer.
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Dec 20, 2018 01:20
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A house my parents looked at had an offer, so they made a full price backup offer, and when the first's financing fell through, sellers took the second offer rather than put it back on the open market. You never know! Vacation house transactions can get a little extra weird.
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Dec 20, 2018 01:25
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Like the seller accepted an offer and the buyer is good with it contingent on selling the house they are in within 90 days or whatever. Basically, is the seller married to that buyer or can I say "hey ill pay you tomorrow lets do a deal"
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Dec 20, 2018 01:26
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It'd be hella weird if a lady was selling a house to her husband but I'm sure it happens.
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Dec 20, 2018 01:40
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cr0y posted:Like the seller accepted an offer and the buyer is good with it contingent on selling the house they are in within 90 days or whatever. Basically, is the seller married to that buyer or can I say "hey ill pay you tomorrow lets do a deal" Contingent is a term that is so broad it has become meaningless. Technically every deal is contingent upon something, whether it’s some kind of inspection, financing, appraisal, or most typically when you hear the term it’s referring to the sale of another home. But yes, the deal is as solid as any other contract (because as I said, EVERY deal is contingent), and if the seller backed out of the contract, the buyer could sue. You can submit a backup offer that becomes active the moment the first contract falls through though.
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Dec 20, 2018 01:48
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Mahoning posted:Contingent is a term that is so broad it has become meaningless. Technically every deal is contingent upon something, whether it’s some kind of inspection, financing, appraisal, or most typically when you hear the term it’s referring to the sale of another home. In our market it has a more specific meaning - when the buyer’s offer is accepted the listing goes to contingent status. At the end of the investigation period (basically when the buyer can no longer cancel and still keep their earnest money) the status goes from contingent to pending. You can certainly have your agent submit a backup offer - the nuances of whether this will be successful and/or worth your time are very situational.
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Dec 20, 2018 15:12
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So then there’s the MLS definition of “Contingent” which is also different! So in our local MLS, “Contingent” means the seller is still accepting showings/backup offers, while “Pending” means the seller is no longer accepting showings or contracts. So yeah, like I said, it has so many meanings that it’s almost meaningless.
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Dec 20, 2018 15:19
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cr0y posted:If a house is contigent, am I allowed to have my agent make a run at the sellers agent? This is a stupid part of this that I dont know anything about. It's highly dependent on your region, ask your agent... they'll be able to tell you what's going on and if you have a chance at making an offer or not. In my area, "contingent" doesn't mean much of anything... "Under Contract" is the more important term, since it means that the seller has accepted an offer and is locked in. I think sometimes around here it may be "contingent" because the buyer's financing is contingent upon selling their current house, but that's about all it could mean here. Around here, "Under Contract" means the seller is locked in to the buyer unless the buyer backs out, or if the buyer does something illegal (i.e. breaks the contract somehow other than backing out). The seller CAN NOT back out for any other reason, including if a better offer comes by. Only the buyer has the right to terminate once an offer is accepted. That said, a seller can accept a back-up offer at any point in the process. But that is a commitment... if the primary contract falls through and there is a back-up offer, that back-up offer becomes the new contract effective immediately (unless the offer has expired). You owe due diligence money/earnest money/whatever the offer says within a few days of notice. So if you want the house, go ahead and try to set up a back-up offer with your agent. The seller may or may not accept it, but if they do you'll be next in line if something happens. I wouldn't count on anything happening, but there's always a chance. Make sure you discuss it with your realtor, because if the back-up offer becomes active and you've already put an offer on another house, you may be out a bunch of money to back out of one of them. edit: again, all of this is highly regional, so make sure you talk to your realtor to get clarification on how things work in your area.
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Dec 20, 2018 16:18
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cr0y posted:If a house is contigent, am I allowed to have my agent make a run at the sellers agent? This is a stupid part of this that I dont know anything about. Alarbus posted:A house my parents looked at had an offer, so they made a full price backup offer, and when the first's financing fell through, sellers took the second offer rather than put it back on the open market. You never know!
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Dec 20, 2018 18:29
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Welp time to ask this thread for advice. About 4-5 months ago I bought a townhome that's part of a larger development. Since a bunch of the work was still incomplete when I closed two separate escrow accounts were created- one for my rear awning and new fences in the backyard, another for concrete work in front to replace my stoop & sidewalk. In addition to those two items there was also a list of items that I was unhappy with during our punchlist that the developer said he'd be happy to fix. Things like the front door being slightly warped, the breaker box not being labelled, etc. Nothing too big of a deal. Fast forward to the end of the first 30 day period which is when the first escrow was set to expire. The developer tells me that they're putting off the awning and fence due to ongoing work on the roof next door to me that I'll also be sharing the awning with. They want to hold off on replacing the awning because the work next door is still ongoing and replacing it now will put it at risk of being damaged by someone dropping a 2x4 on it or something. I'm fine with this- but again ask when the punchline items will be addressed. Every time I bring this up the developer assures me that it'll be handled right away. Nothing's been resolved and we're now almost 5 months in. I finally lost my patience, and I feel like I've been extremely patient, and demand the first escrow in full from the closing agent. He's now disputing the disbursement claiming that we had a verbal agreement to hold off on the fences & awning until the next door unit was complete. I responded to the email saying that I was willing to wait a bit but was told the next door unit was going to be done late October, mid November at the latest. Which is true. I also know that the buyer for that unit has been extremely pissed at all of the delays and can vouch that everyone was told late October was the initial date the work was supposed to be done. So what now? Since my email this morning no one, neither the closing agent or the developer, has responded. Do I ask them to send the funds to court? Am I likely to see the money if I do this or am I just going to get hosed? Do I need a lawyer?
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Dec 20, 2018 21:57
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Rex-Goliath posted:Welp time to ask this thread for advice. About 4-5 months ago I bought a townhome that's part of a larger development. Since a bunch of the work was still incomplete when I closed two separate escrow accounts were created- one for my rear awning and new fences in the backyard, another for concrete work in front to replace my stoop & sidewalk. You shouldn't have said jack all about agreeing to anything. Lawyer time. Basically unless there was some required action on your part to claim the funds in a timely manner, you should basically wind up with a letter that says: "The escrow account was made to fund building X by Y date. It is not completed despite my good will waiting for <months past due date>. I demand payment of the escrow amount: $Z by $date in cleared funds." (Refer to your documents on if they have to give you a check or "cleared funds" (aka Wire, Cashiers Check.) Also those punch list items aren't getting done unless they were contractually obligated to do them. Why did you buy half a townhouse?
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Dec 20, 2018 22:14
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H110Hawk posted:You shouldn't have said jack all about agreeing to anything. Lawyer time. Basically unless there was some required action on your part to claim the funds in a timely manner, you should basically wind up with a letter that says: "The escrow account was made to fund building X by Y date. It is not completed despite my good will waiting for <months past due date>. I demand payment of the escrow amount: $Z by $date in cleared funds." (Refer to your documents on if they have to give you a check or "cleared funds" (aka Wire, Cashiers Check.) It'll be a check to my mailbox. The escrow agent originally said she was going to mail it out by the end of the day before the developer contested it. The only punch list item that I really care about is covered in the contract so I'm not too worried about that.
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Dec 20, 2018 22:19
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Rex-Goliath posted:Welp time to ask this thread for advice. About 4-5 months ago I bought a townhome that's part of a larger development. Since a bunch of the work was still incomplete when I closed two separate escrow accounts were created- one for my rear awning and new fences in the backyard, another for concrete work in front to replace my stoop & sidewalk. Do you have a 1 year warranty on the new home? If you do many of the punch list items can be addressed via the warranty and separately from escrow. You need to talk to a real estate lawyer to review your specific contract to understand what your options are with the escrow account. If the escrow agreement was created by the developer it is usually heavily in their favor and they can tie up the money until the work is done even if it is past the "due date".
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Dec 20, 2018 23:41
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lampey posted:Do you have a 1 year warranty on the new home? If you do many of the punch list items can be addressed via the warranty and separately from escrow. Yep I have a year. The language in the contract is actually pretty straight forward- his only way out of it is by saying we had a verbal agreement that I didn't actually care.
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Dec 20, 2018 23:48
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Update: I escalated the issue with the closing agency and the guy running the place agrees with me and is willing to disburse the funds. He warned me that by doing that the developer will no longer be required to finish the work which is yeah, of course. The thing is is that it's a shared awning and fence with the neighboring unit and there's no the buyer of that unit is just gonna let him not install those things once he moves in. Essentially it comes down to whether I'm willing to call this guy's bluff which I'm feeling like I am. Gonna think about it over the weekend though.
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Dec 21, 2018 16:21
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Rex-Goliath posted:Yep I have a year. The language in the contract is actually pretty straight forward- his only way out of it is by saying we had a verbal agreement that I didn't actually care. Just an I am not a lawyer FYI, a verbal agreement can't override a written contract ever. The only thing a verbal agreement can do is if the developer misleads you about what is in the contract you can't sometime get out of the terms.
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Dec 22, 2018 19:22
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Elephanthead posted:Just an I am not a lawyer FYI, a verbal agreement can't override a written contract ever. The only thing a verbal agreement can do is if the developer misleads you about what is in the contract you can't sometime get out of the terms. Yup once I escalated it to the guy who actually runs the escrow agency it swung my way. The other person was just doing what they were told which was, 'both parties have to provide written permission to release the funds'
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Dec 22, 2018 21:39
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Closing still scheduled for early January. What a market to buy in. 
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Dec 24, 2018 19:30
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I shouldn't feel any 'pressure' to buy right now, because of rising interest rates, right? We're trying to wait until 01/2020.
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Dec 25, 2018 00:52
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Modest Mouse cover band posted:I shouldn't feel any 'pressure' to buy right now, because of rising interest rates, right? We're trying to wait until 01/2020. Unless you literally picked that date out of a hat, no. Your other reason is likely far more important than 4% vs 5% interest.
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Dec 25, 2018 01:07
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Modest Mouse cover band posted:I shouldn't feel any 'pressure' to buy right now, because of rising interest rates, right? We're trying to wait until 01/2020. What does buying now vs. in a year look like for you, what market are you in, and how much are you spending on the house?
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Dec 25, 2018 01:37
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interest rates affect everyone- not just you. also the fed has been signaling that they’re backing off the interest rate hikes. they’re not going to stop but they’re not going to rise nearly as fast as they have been. which haven’t been even rising that fast in the first place
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Dec 25, 2018 03:24
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Modest Mouse cover band posted:I shouldn't feel any 'pressure' to buy right now, because of rising interest rates, right? We're trying to wait until 01/2020. Yeah there's no telling where interest rates or the housing market will be in a year. Rising interest rates will probably suppress price growth anyway so it's a wash. Buy when you're ready, not in anticipation of future market conditions
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Dec 25, 2018 05:09
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QuarkJets posted:Yeah there's no telling where interest rates or the housing market will be in a year. Rising interest rates will probably suppress price growth anyway so it's a wash. Buy when you're ready, not in anticipation of future market conditions
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Dec 26, 2018 03:49
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So, an update on the surprise short sale: We terminated it after finding another house in the same neighborhood. Since moving forward with the other house, we haven't started the conversation about the money we sunk into inspection, but I can't find anything in the purchase agreement that has to do with money apart from the earnest money. Our realtor mentioned trying to 'sell' the inspection to the seller agent to recoup some of the losses. Is this a thing? Would an inspection be worth anything to a dude trying to sell a short-sale property?
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Dec 28, 2018 00:39
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I’ve never heard of an inspection being sold....but if your realtor mentioned it, it’s possible he or she has seen it done and I wouldn’t doubt that it’s a possibility. But to be honest, you paid for a service and got the service, so I’d just consider it a sunk cost.
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Dec 28, 2018 04:02
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meanolmrcloud posted:Our realtor mentioned trying to 'sell' the inspection to the seller agent to recoup some of the losses. Is this a thing? Would an inspection be worth anything to a dude trying to sell a short-sale property? I highly doubt this approach will be successful. Inspections are just part of the cost of doing business as a buyer; after all, they're completely optional. They are something the buyer pays for in order to avoid potentially getting screwed over. In fact, as a hypothetical seller, I don't want to see your inspection report. If it turned up serious issues, I could potentially be expected to list them in the seller's disclosure form. If I don't know, ignorance is bliss, and I don't have to list anything. It's one thing if the buyer's agent forwards along the report, but if a sale fell through and the buyer wanted me to help pay for that report, I'd politely tell them to pound sand. But hey, you're not buying the place, doesn't hurt to take a moon-shot.
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Dec 28, 2018 04:18
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Another thing is that if I was a buyer and the seller offered to give me an inspection report, I'd probably decline and get my own done - even if they say that it was from a prior offer that fell through, maybe that isn't true, and maybe it is but they're happy to share it because it's favorable and doesn't contain information a new inspection might find. We tell people all the time not to go with an inspector recommended by the realtors involved, taking an inspection directly from one seems like an even worse idea. It's a pain, but I suspect you'll just have to swallow the cost and deal with it.
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Dec 28, 2018 05:36
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as a buyer, there’s no loving way I would accept much less pay for an inspection provided to me by the seller
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Dec 28, 2018 06:10
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