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Our building management company sent us our welcome packet. In it, includes an official form to fill out in case a bomb threat gets called in. Because I'm totally gonna remember this form in 10 years on the rare chance someone sends me a bomb threat  : fake edit: LIME of call, margarita on the rocks, blended, or tequila shot with salt
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Apr 27, 2020 03:39
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beefnchedda posted:My post is more are these valid points to discuss or should I bite the bullet and fix in my own. As for whether the seller would be up for fixing them: it really depends on the seller. It's negotiable and your real estate agent should be working that angle on your purchase. Edit: To actually answer your question: Your concerns are valid and you are due a reasonable response.
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Apr 27, 2020 04:12
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Hadlock posted:Our building management company sent us our welcome packet. In it, includes an official form to fill out in case a bomb threat gets called in. Because I'm totally gonna remember this form in 10 years on the rare chance someone sends me a bomb threat I have one of those at work. If someone calls me about a bomb threat I am going full call center on them.
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Apr 27, 2020 04:26
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Henrik Zetterberg posted:Is there a pool thread somewhere? New house has one and I want to replace the single-speed pump with a variable and convert it to salt and I have no idea where to buy my poo poo. Or how to do it without paying someone a million dollars. Jandy 2.7 HP VS pump (VSSHP270JEP) $950. Jandy TruClear salt system $1200 Here’s a link to Jandy's retailer finder: https://www.fluidrausa.com/en/dealer-locator
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Apr 27, 2020 05:26
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Hadlock posted:San Jose specifically has loose restrictions on "accessory dwelling units" i.e. granny flats, there's a very generous provision (I think) that allows you to register it as a legal rental dwelling on the property for free/almost free, haven't looked into it myself but if you're in that county maybe worth looking at. That county in particular is aware that housing is in short supply and this is a loophole they're promoting/forgiving to increase housing stock It's San Bruno, and they added a bathroom and converted the garage into a third bedroom without permits. They even left the garage door on the exterior wall to hide the fact that they did it. While pulling the permit history, I found a previous work requirement where an owner had to demolish an illegal 2BR/2BA extension in the back, which explains why it has such a loving huge back yard.  It's cheap for the area (2br/1ba + 1/1 illegal, @ 1140 sq ft = $798,000), but I can still retire on that basically anywhere else on earth. I don't have that sort of stomach for risk. Unrelated, but this particular line in a different (rental) listing is making my head hurt... "The house comes with an attached garage, but it is not to be used as it blocks the driveway." Sundae fucked around with this message at 05:48 on Apr 27, 2020 |
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Apr 27, 2020 05:46
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WithoutTheFezOn posted:This might help start you out a little. We just got our pool built. These are the cost breakdowns from our pool builder: Awesome, thanks! That’s not as bad as I thought for a pump. I was trying to navigate pool supply warehouse or something on my phone but their mobile site sucks and everything I came up with was thousands. Which, yeah it’s a pool, but I figured there was a more reasonable. My realtor told me to just buy online since the local places have huge markup, and to install it myself since it’s so much cheaper and doesn’t take too much labor. Even said he’d help for a 6er of beer. The pool sweep is either toast or the sweep vacuum part thingy is. Related to an earlier post, I had my sellers max out the closing cost credit at 10k to cover most of my repairs, including the broken pool sweep. Apparently if you reference an inspection report, it gets sent to the lender and they want literally everything fixed before they’ll approve your loan. So yeah, credit it is. I can pick my own people too and get it done how I want it done.
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Apr 27, 2020 05:56
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the best kind of legal is quasilegal - Electrical on the permit looks at all nothing like the plans? Well, that's part of construction anyway and the inspectors don't care. Former area calculations and bathroom calculations were incorrect? Well, the architect can just make some "measurements" an send them in as part of the permit. Building technician is curious as to why the area of that one sketchy room seems very slightly off? Architect can just "redo the measurements" and fix the numbers!! House doesn't meet setback requirements? Well the building was already existing for a while and counted as part of 'square footage', and setback requirements were different 60 years ago!!! Want something done to the house but dont want the inspector to make a fuss about it? Do it after the rough inspection and cover it up so the inspector doesn't see it! Oh, but now you want to sell the house? "Well it was inspected and permitted see I have the permit!"
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Apr 27, 2020 18:47
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ntan1 posted:the best kind of legal is quasilegal - This is how half the work our there is done. The other half is done "by the book" by people blindly following code and their training, with no comprehension or interest in achieving the intent of the code/training they're following.
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Apr 27, 2020 22:03
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The appraisal for the house I'm buying came in at exactly the price that I'm paying for it. Nice little scam these appraisers have going on.
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Apr 28, 2020 22:32
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daslog posted:The appraisal for the house I'm buying came in at exactly the price that I'm paying for it. Nice little scam these appraisers have going on. Are you paying too much for your house? Are you paying too little for your house?
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Apr 28, 2020 22:34
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daslog posted:The appraisal for the house I'm buying came in at exactly the price that I'm paying for it. Nice little scam these appraisers have going on. An appraisal is almost entirely based on the market value comps of similar homes in the area, so yeah, they are often going to be right on the nuts. Especially if the seller has done their homework. Unless your potential purchase has something unique to the area, why wouldn't it be? You also have to look at the potential for fraud if an appraiser could just come up with numbers out of their rear end. Being forced to mostly conform to the localized prices keeps them honest.
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Apr 28, 2020 22:49
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GoGoGadgetChris posted:Are you paying too much for your house? Too little. The seller is all freaked out about the virus, priced it low and cut off showings after 2 hours. Worked out well for us!
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Apr 29, 2020 00:58
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daslog posted:Too little. The seller is all freaked out about the virus, priced it low and cut off showings after 2 hours. Worked out well for us! And nobody else made an offer above yours? You were the only person willing to pay the amount you're offering?
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Apr 29, 2020 01:00
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daslog posted:The appraisal for the house I'm buying came in at exactly the price that I'm paying for it. Nice little scam these appraisers have going on. heh, I remember those days.
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Apr 29, 2020 01:28
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daslog posted:The appraisal for the house I'm buying came in at exactly the price that I'm paying for it. Nice little scam these appraisers have going on. If it's above, well it's not likely they'll tank the whole deal for an extra 5-10k. GoGoGadgetChris posted:And nobody else made an offer above yours? You were the only person willing to pay the amount you're offering?
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Apr 29, 2020 02:24
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No, he's asking leading questions to bring you to the conclusion that is nonintuitive for a lot of people: the most compelling evidence for the proper valuation of a house, is the price the high bidder is paying for it. That's you, and it's why appraisals ought to find the value as equal to what you paid unless there is strong evidence that you are substantially over- or under-paying. In fact in this thread you will find lots of agonized posters complaining when the appraisal came in under what they paid, because, if anything, appraisals too often come in at something other than the sale price, because too many appraisers think their job is to justify themselves by doing some bullshit calculations and then coming in with their own number. The function of the appraisal, from the perspective of the lender, is to find (what ought to be) the rare cases where the buyer and seller's agreed-upon price is way off base to where the market is currently pricing the home. Which does happen, but usually due to shenanigans (seller is selling to their child at way below market, seller is defrauding buyer, etc.). If the house was fairly on the market and available to unrelated buyers and the sellers took the best offer, that's the house's value and it's what the appraiser should conclude is the house's value.
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Apr 29, 2020 02:34
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daslog posted:The appraisal for the house I'm buying came in at exactly the price that I'm paying for it. Nice little scam these appraisers have going on. I posted almost exactly the same thing in this very thread almost a month to the day ago I guess appraisal is a pressure blowout valve to flag the deal if it's grossly out of whack with the local market but yeah 100% it's a giant scam
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Apr 29, 2020 02:40
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Meanwhile I'm megapissed because our appraiser's deadline was today and they missed it. We were calling every day for the last two weeks since they toured the property saying "hey what's going on" and "we'll pay a rush fee if you need" and the agent just came back for the first time today to be like "yeah I'm not gonna be able to do this by 5pm tonight, maybe 2pm tomorrow because all the places we're calling for comps are closed". It's seriously loving up my plans the farther into February this closing gets. If they miss it again tomorrow or it's somehow undervalued I'm gonna be ripshit.
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Apr 29, 2020 02:41
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daslog posted:The appraisal for the house I'm buying came in at exactly the price that I'm paying for it. Nice little scam these appraisers have going on.
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Apr 29, 2020 03:29
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Why would the state of an outbuilding impact a conventional loan with 20% down? it’s an old barn with newish walls and carpet and, yes, has some mold issues. But I’m buying the loving house. Mortgage agent doesn’t know if the barn will halt the sale. Seller is convinced it will, since the same originator supposedly killed the last deal on the property.
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Apr 29, 2020 04:17
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I (buyer) was able to waive the appraisal (and save myself $600) because I’m putting 20%+ down, or so says my lender. I did it because the house was priced about 60k under comparables. It needs some repairs and also because of the general state of covid things. My agent still negotiated it lower and closing credits, so I didn’t want to give them any ammo to say we shouldn’t get the credits.
Henrik Zetterberg fucked around with this message at 04:47 on Apr 29, 2020 |
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Apr 29, 2020 04:26
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street doc posted:Why would the state of an outbuilding impact a conventional loan with 20% down? it’s an old barn with newish walls and carpet and, yes, has some mold issues.
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Apr 29, 2020 05:08
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Life hack: pay for the house yourself and you don't need an appraisal! gently caress dem banks
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Apr 29, 2020 05:25
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Henrik Zetterberg posted:Awesome, thanks! That’s not as bad as I thought for a pump. This is the best site I have found for pool questions. Last time I used it the forums were good about answering questions. https://www.troublefreepool.com Also, follow their advice on chemical levels, my water is always perfect unless I neglect the pool for a while. I swapped my pool over to saltwater a couple of years back. The best pool-related decision I have made. I strongly recommend getting an oversized SWG for your pool. The biggest thing that sucks about pool work is, all the work is pretty simple and anyone who has done minor electrical and plumbing can do it, but you pretty much always have to pay a professional to install anything because the warranties are only valid if installed by a professional.
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Apr 30, 2020 17:07
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GoGoGadgetChris posted:Life hack: pay for the house yourself and you don't need an appraisal! Having well into the six figures of cash sitting around does make life easier, I'm sure.
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Apr 30, 2020 17:18
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81sidewinder posted:Having well into the six figures of cash sitting around does make life easier, I'm sure. This is what "mid six figgies" should mean - not 150K.
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Apr 30, 2020 17:20
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GoGoGadgetChris posted:And nobody else made an offer above yours? You were the only person willing to pay the amount you're offering? There was an offer higher than us but their financing fell through.
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Apr 30, 2020 17:54
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daslog posted:There was an offer higher than us but their financing fell through. Same here, I only got my place because all the investors' precious stock markets crashed and two different buyers fell through. Meanwhile my appraiser, who looked at the house two weeks ago, is now 3 days late on her own loving deadline, and has held up the thing for everyone.
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Apr 30, 2020 18:23
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They must be real crappy investors if they're down more than 15% right now. Or if a 15% drop means they can't afford it anymore, they were way over-leveraging. Appraisers are basically self-employed which means they're late all the time always. The late fee that the bank charges them is something hilarious like 5% of the fee per day. Very easy to take the $30 hit when it's 5:00 PM on the due date and you feel like crushing some crispy boys on the patio.
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Apr 30, 2020 18:30
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dalstrs posted:This is the best site I have found for pool questions. Last time I used it the forums were good about answering questions. Awesome, great link. Thanks! Everything I've googled is basically guides on sites that have a financial interest in selling you their poo poo, so it seems like there's a lot of biased info out there.
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Apr 30, 2020 20:49
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Hadlock posted:I posted almost exactly the same thing in this very thread almost a month to the day ago
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May 1, 2020 06:36
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gvibes posted:yeah, it's a pretty lazy gig, but on the other hand, isn't the price someone is willing to pay for a property a pretty good estimate of its value? Everyone values things differently. The price someone is willing to pay is a good estimate of the value of the property to them. The bank doesn't care how you value the property. If you default, they want to be able to sell the place. If you were willing to pay a large premium because you are ten feet tall and this house has eleven foot ceilings, that doesn't mean an average buyer will value it as such.
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May 1, 2020 07:38
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gvibes posted:yeah, it's a pretty lazy gig, but on the other hand, isn't the price someone is willing to pay for a property a pretty good estimate of its value?
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May 1, 2020 11:03
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gvibes posted:yeah, it's a pretty lazy gig, but on the other hand, isn't the price someone is willing to pay for a property a pretty good estimate of its value? If a property is appraised at $250k, and I submit an offer for $500k, is that property now worth $500k? I mean, if the 2nd highest bid is $499k, maybe. But if the 2nd highest bid is say $255k, then the property isn't worth $500k, it's worth at most $256k. I just overpaid.
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May 1, 2020 12:23
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I prefer to use the scrap value of a house when appraising it
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May 1, 2020 15:27
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DaveSauce posted:If a property is appraised at $250k, and I submit an offer for $500k, is that property now worth $500k? No. That's only how commodities and equities work, and only then because of "more of exactly the same thing" being available and market liquidity. The appraisal process for homes is to stop exactly that. In your scenario it would likely be pretty obvious that other places in the general area of that general style/quality/size/features that have recently sold were sold at 50% less per square foot, and the appraisal would reflect that. Now if you offered $270k and actually bought the place you are now a comp in that area for they type of property and you've impacted all of the other properties including your own, theoretically upwards. But not $70k upwards. If you actually paid $500k the comp would likely never be used because it would be such a ridiculous outlier.
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May 1, 2020 16:02
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Oh goodie, the appraiser came in 4 days late and $80k under my purchase price. Sure is fun to know now instead of 3 weeks ago when she first checked out the place that I have to now pull another $80k out of my rear end. Seller is in no way willing to come down, and I don't blame em; the place is definitely worth my offer and then some, even right now. This just sucks, I might be able to pull off the difference but I'm way too embarrassed to ask friends and family to spot me that much. Never had an appraisal not hit the price before.
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May 2, 2020 05:28
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Just reminding myself of my only decent contribution to this thread:gvibes posted:Do never buy.
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May 2, 2020 06:30
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Zero VGS posted:Oh goodie, the appraiser came in 4 days late and $80k under my purchase price. Sure is fun to know now instead of 3 weeks ago when she first checked out the place that I have to now pull another $80k out of my rear end. Did the appraiser make a serious error? Do you think the comps support the higher price? How did you come to determine your offer price?
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May 2, 2020 07:38
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So with the economy struggling and talk of another recession is it likely that home prices will fall?
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May 2, 2020 07:47
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