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Zarin posted:My last buyer was - and this is the technical term - "rear end garbage" i didn't buy your house wtf Upgrade posted:I literally can’t parse the situation described and it can’t tell if it’s because I’m stupid (probably) or because it’s written out poorly It's very simple, to buy a house in the UK requires first you forge a false deed claiming ownership then you gather enough support from the local constables to force the current owners to sell to you, the British term for this is a "chain" as in you're chaining the owner to the terms of your deal as laid out in the Magna Carta. It's the same rules the UK used to colonize north america QuarkJets fucked around with this message at 09:13 on May 23, 2022 |
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May 23, 2022 09:09
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QuarkJets posted:i didn't buy your house wtf 
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May 23, 2022 09:14
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Zarin posted:Probably just depends. Partly on location, partly on the house itself. Essentially: what is the average quality of buyer you're going to attract?
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May 23, 2022 11:01
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Zarin posted:Probably just depends. Partly on location, partly on the house itself. Essentially: what is the average quality of buyer you're going to attract? Another part of this process which I find bizarre is apparently solicitors aren't always keen that I'm in touch with the buyer, although mine is cool. I'd much rather have a weekly call with someone from each part of the chain so we can all agree in front of each other what's going on... but apparently you don't do that sort of thing The good news is the final bit of paperwork on my side landed this morning so my solicitor said can we agree the completion date. This will force everything to become very formal very quickly so nearly there
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May 23, 2022 11:12
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My boss just got himself into a lovely situation. He's been looking to buy a plot of land for a few months now and finally found a nice 7 acre parcel in a nice part of town that is slowly being built up. Asking price was 180k so he and his realtor jumped on it and started the whole process. From what he told me, it's a "person" who owns this land and is who is supposedly selling it. He had to get a survey done on the property and everything and paid 7k to get that done. He was supposed to close today. Friday he gets a call from his realtor saying they need to talk. Apparently that "person" doesn't actually own the land they are selling, an investment bank actually owns it. His realtor said it started to sound wrong to him when this "person" only wanted to do everything digitally, nothing in person. How they got this far into the process and just found all this out the day before they were supposed to close is beyond me. I guess he realtor said, don't do anything, we're still going to "close" and the authorities are now involved. He even called the investment bank that actually owns it and asked if they'd sell and they more or less laughed at him when he said what he was going to buy it for as that land is worth much much more than that. Thankfully he hadn't put his current house up for sale yet so he's more or less back to square one in looking for land. Just crazy to think that this person could have tried this scam on multiple people, if they were paying straight cash and doing everything digitally, it seems like he could get away with it a few times if they person was just wiring cash to an account then the seller would just ghost them. I told him he needs to let us know what goes down and the end result of it all.
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May 23, 2022 19:08
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Selling property you don't actually own is a form of fraud as old as time, basically. That "person" may wind up in jail, but the $7k for having the land assessed is probably gone. Also this is why title companies exist, it's kinda amazing to me someone would pay for a survey without first pulling the title from a title co. and discovering the seller's name isn't on the title.
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May 23, 2022 19:57
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Leperflesh posted:Also this is why title companies exist, it's kinda amazing to me someone would pay for a survey without first pulling the title from a title co. and discovering the seller's name isn't on the title. You don't even need a title company for that. It's mind boggling the prospective buyer or their agent didn't bother to do the very first due diligence of "look it up on the county web site" before spending multiple thousands of dollars on further down the line due diligence.
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May 23, 2022 20:04
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Motronic posted:You don't even need a title company for that. It's mind boggling the prospective buyer or their agent didn't bother to do the very first due diligence of "look it up on the county web site" before spending multiple thousands of dollars on further down the line due diligence. No loving poo poo. Unless you're in the most podunk area possible, this poo poo is all accessible in less than a minute.
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May 23, 2022 20:08
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My county has a site for that but I didn't want to assume every county does. But a title search gives you more than just the current owner, and I'd have thought you'd need the descriptive part of the title just for the surveyor to reference to?
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May 23, 2022 20:08
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Common real estate scam in Colombia is to lease or sell unimproved rural land you don't actually own to someone else. So the absent actual property owners will put up a sign that says "THIS LAND IS NOT FOR SALE OR RENT". But you see, scammers can remove the signs. So they put them on a big pole, so it's harder for someone to climb up and tear it down. It ends in an absurd situation where you have all these plots of rural land with owner-erected billboards up advertising that the land is not for sale.
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May 23, 2022 20:19
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Leperflesh posted:Selling property you don't actually own is a form of fraud as old as time, basically. That "person" may wind up in jail, but the $7k for having the land assessed is probably gone. I guess once they found all this out he was able to get $800 back from the surveyors office and his realtor is going to eat the other $6k or so lol edit: Here's the property address 1295 S Blue Lake Ave, Deland, FL 32724 I think this'll work -> https://vcpa.vcgov.org/parcel/summary/?altkey=2296691#gsc.tab=0 mattfl fucked around with this message at 20:28 on May 23, 2022 |
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May 23, 2022 20:21
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mattfl posted:My boss just got himself into a lovely situation. He's been looking to buy a plot of land for a few months now and finally found a nice 7 acre parcel in a nice part of town that is slowly being built up. Asking price was 180k so he and his realtor jumped on it and started the whole process. From what he told me, it's a "person" who owns this land and is who is supposedly selling it. He had to get a survey done on the property and everything and paid 7k to get that done. He was supposed to close today. Friday he gets a call from his realtor saying they need to talk. Apparently that "person" doesn't actually own the land they are selling, an investment bank actually owns it. His realtor said it started to sound wrong to him when this "person" only wanted to do everything digitally, nothing in person. How they got this far into the process and just found all this out the day before they were supposed to close is beyond me. I guess he realtor said, don't do anything, we're still going to "close" and the authorities are now involved. He even called the investment bank that actually owns it and asked if they'd sell and they more or less laughed at him when he said what he was going to buy it for as that land is worth much much more than that. Thankfully he hadn't put his current house up for sale yet so he's more or less back to square one in looking for land. Just crazy to think that this person could have tried this scam on multiple people, if they were paying straight cash and doing everything digitally, it seems like he could get away with it a few times if they person was just wiring cash to an account then the seller would just ghost them. I told him he needs to let us know what goes down and the end result of it all. lol - so the realtor wants to close and collect commission and then your boss is out even more $, after they failed to do even the most basic due diligence. your boss is an idiot that clearly hasn't done any research. buying land & building a house is notoriously expensive & time consuming - almost certainly worse now with current contractor/supply chain issues. $180k for 7 acres is reasonable for just outside Billings, MT. No way in hell is a nice part of town that's already being built up anywhere near that figure. If $7k is gonna break this, he should be thankful he didn't get further along a path that's gonna have much larger unanticipated $'s dropping throughout the process. You should encourage him to continue and post updates for us  e: lmao the tax assessment is $222k and there's shitloads of developments nearby.
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May 23, 2022 20:31
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Calling the boss an idiot is a bit harsh. How many times in your entire life do you buy property? two, three, maybe 4 times? Isn't that the entire point of hiring a realtor, someone who's full-time job is real estate transactions? I mean there's some definite redflags in the deal. 7 acres for 180K should have been the first one
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May 23, 2022 20:37
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I expect the realtor is eating the cost because they would get dunked on pretty hard if it went to court.
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May 23, 2022 20:51
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That property record indicates the land is held by two trusts. That could well still be "an individual" because people put their assets in trusts for a ton of reasons - my parents do, for example. Also a low price per acre for a parcel may or may not be a sign of fraud, it could just as much be a sign of some other serious defect - too swampy to build on, or contains a toxic waste dump, or who knows. This time, of course, it was fraud, but seeing land being sold by "a person" as listed as being held by a trust isn't necessarily cause to bail, it should just point a competent, experienced person to immediately ask for trust documents to discover who is the trustee, who is the beneficiary, and verify that all parties required are signing on to the sale. And yeah I think it's crazy not to find out who owns the land before proceeding, but that's on the boss's realtor, not the boss. That's why we hire professionals. They're supposed to guide us through these processes.
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May 23, 2022 21:02
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1st_Panzer_Div. posted:lol - so the realtor wants to close and collect commission and then your boss is out even more $, after they failed to do even the most basic due diligence. The quotes around close and the context makes it pretty clear law enforcement is going to use the pretext of closing to get evidence on the ‘seller’; clearly they’re not going to yeet off the cash to a seller for a few k commission that would never be paid anyway.
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May 23, 2022 23:45
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Is 7k reasonable for a survey of a 7 acre plot? Does it scale that quickly per acre? Not sure I've ever spent more than 500 bucks. Or was this for more than just a survey?
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May 23, 2022 23:55
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Slugworth posted:Is 7k reasonable for a survey of a 7 acre plot? Does it scale that quickly per acre? Not sure I've ever spent more than 500 bucks. Or was this for more than just a survey? I think survey costs can vary wildly. In 2017, I was quoted $2k to survey my 10k sqft (so what, ~quarter acre?) lot. It was in a planned neighbourhood built in 1968, so I don't think there should've been anything particularly difficult about it other than maybe some weird lines reaching into to a nature preserve on the back end.
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May 24, 2022 00:05
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Slugworth posted:Is 7k reasonable for a survey of a 7 acre plot? Does it scale that quickly per acre? Not sure I've ever spent more than 500 bucks. Or was this for more than just a survey? No it's not. I wasn't gonna keep piling on, but when you have posters saying things like: skipdogg posted:Calling the boss an idiot is a bit harsh. ....then maybe these things do need to be called out. So let's talk about what kind of "survey" we could be dealing with here. It's anything from a checking of the boundaries of the land to a forestry survey (tree catalog), water testing, perc testing. Given the story and information as presented the boos is a complete and total rube to spend that kind of money on this property at this point in his (lack of) due diligence. He could be an even bigger rube if that "survey" was merely boundaries. And yes, yes, the buyer agent should have known better, etc, etc. You're responsible for the professionals you hire and he hired wrong.
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May 24, 2022 00:05
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Is your boss's realtor one of his frat bros? This level of incompetence from your boss and realtor kinda feels like that situation. I'll double down on calling the boss an idiot - they shouldn't be in a position of management with this level of gross oversight. Seller's still have given no word on repairs, but we got the seller disclosures today. They disclosed shared property line - which doesn't exist, but I suspect is the wall on the 5' of land that isn't on our property. Absolutely ripe to take it back via property taxes & ed, but I wanna be on nice terms with the neighbor so not gonna gently caress around with that. Maybe they'll sell it to us in a couple years or something, not a big deal - really only restricts future sales value for one of those 3x1 apartment/condo buildings - there's still a lot more growth in the area needed before that'd be a possibility. e: yeah - a google maps search should set off a shitload of red flags on this. there's a multi-hundred housing development nearby. and this guy thinks he's gonna get the lot next door for his own mcmansion? If $7k is a big deal no way he's even talked with an architect or builders yet. 1st_Panzer_Div. fucked around with this message at 00:50 on May 24, 2022 |
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May 24, 2022 00:32
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I kinda feel like the boss needs piling on precisely because it's such an obvious scam. Like, seven acres in an actual developed town for that little? If you told me someone got 7 acres in a "nice part of town that is slowly being built up" for 180k I'd assume it was abandoned superfund site adjacent in rural Nevada or someplace where the "town" is three mailboxes and a gas station. Cyrano4747 fucked around with this message at 01:00 on May 24, 2022 |
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May 24, 2022 00:39
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Just buy yourself land in Navaho County AZ for $1000 an acre and live off Route 66.
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May 24, 2022 00:49
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Windows, roof repair, and $2k instead of an AC, and a home warranty instead of hot water heater. They shopped for their own vendors, but they're all legit large vendors, not friend of a friend bullshit.
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May 24, 2022 02:30
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Wish I lived on the west coast. gently caress.
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May 24, 2022 02:44
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marjorie posted:I think survey costs can vary wildly. In 2017, I was quoted $2k to survey my 10k sqft (so what, ~quarter acre?) lot. It was in a planned neighbourhood built in 1968, so I don't think there should've been anything particularly difficult about it other than maybe some weird lines reaching into to a nature preserve on the back end. Quoting myself because this reminded me of a question. So I never got around to doing that survey since I thought the prices I was quoted were outrageous and not worth it, and the other day the buyers of my house emailed me about whether I knew anything about the property lines. They seemed like nice folks so I'd like to be helpful, but should I just refuse to answer their questions from here out? I kept it simple and truthful this time (basically saying I didn't know anything about them and advised them to get a survey if they want to change up the fence), but this is the third time they've reached out after buying and I'm worried that there's some chance I could say something that could hurt me somehow? Might be thinking too dramatically, but not sure if I could inadvertantly give them cause to sue me or something? This was why I tried to coordinate all communication through their realtor, but then the owner's husband googled me and got my work email, so I now have this direct line with them. Again, so far it's been pretty simple stuff and I think I've helped out (like I sent them the warranty for the furnace), but it's been almost six months since I moved out and I'm not sure if they're just going to keep contacting me for stuff.
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May 24, 2022 02:49
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Slugworth posted:Is 7k reasonable for a survey of a 7 acre plot? Does it scale that quickly per acre? Not sure I've ever spent more than 500 bucks. Or was this for more than just a survey? This really depends. How far is the travel, where are they tying into, does the county have good sections to tie into, mapping in other easements, wide open or full of trees, the list goes on. This particular case it might be a bit high but if there is a lot of new development going on you know what is in high need? surveyors. Fitting in a one off guy is going to cost you. One project we did the county had nothing, we had to pay for weeks of survey time just to get to the property we were purchasing from the closest known section.
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May 24, 2022 03:21
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marjorie posted:Quoting myself because this reminded me of a question. So I never got around to doing that survey since I thought the prices I was quoted were outrageous and not worth it, and the other day the buyers of my house emailed me about whether I knew anything about the property lines. This is a property you already closed on? Ghost them. You're too busy for this poo poo
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May 24, 2022 03:46
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marjorie posted:Quoting myself because this reminded me of a Your instincts might be a little overtuned, but they're not wrong. The worst case for you if you contradict disclosures is a very bad one, and the benefit to you is zero. It's probably okay to provide stuff like the furnace warranty or instruction manuals, but it's safest not to have any further contact with the buyers.
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May 24, 2022 04:21
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marjorie posted:Quoting myself because this reminded me of a question. So I never got around to doing that survey since I thought the prices I was quoted were outrageous and not worth it, and the other day the buyers of my house emailed me about whether I knew anything about the property lines.
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May 24, 2022 11:16
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The other thing he found out during the survey was that there are 5 gopher turtle nests on the property. In florida they are protected and it can cost as much as 5k per nest/turtle to move them lol
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May 24, 2022 11:59
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Survey talk: what does a surveyor actually do with a boundary survey? I've got 4.25 acres, and the boundaries are wooded (or wetlands). I'm interested to know where the lines actually land. Will they mark trees and/or put stakes all along the line? I don't care about fences or anything being over the line because there aren't any. Really just curious to see the extents, how close the line is to the driveway, how close the other line is to the side yard, etc. $500 doesn't seem bad for that.
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May 24, 2022 12:50
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Small update on my buyer who I discussed on the last page who I thought was taking liberties with the truth. Me / solicitor / estate / buyers update now all agree that 2 things remain to be done. 1. A document relating to his property needs to arrive from the local council. 2. Something called help to buy validation of the sale. (This relates to my property) For non-UK people, Help to buy was a scheme for first time buyers to get on the property ladder, essentially, government loan you 20% to make your deposit better, then collect their 20% upon sale - house prices go up, government win. So they have to make sure you don't defraud them etc when you sell. The weird part is my buyer is insisting that part 1 will land this week and we can exchange contracts and complete this Friday. My solicitor has said he is mad because the process is part 1 lands-> his solicitor will propose a date->we tell the help to buy agent->agent authorises us to go ahead That just won't happen before Friday but my buyer will not enter into any discussions along the lines of "if we don't deliver Friday, what is plan B?" I think he is mental, but he is very keenly chasing part 1 so I'm leaving him to it and I've stopped worrying.
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May 24, 2022 12:59
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carticket posted:Survey talk: what does a surveyor actually do with a boundary survey? I've got 4.25 acres, and the boundaries are wooded (or wetlands). I'm interested to know where the lines actually land. Will they mark trees and/or put stakes all along the line? I don't care about fences or anything being over the line because there aren't any. Really just curious to see the extents, how close the line is to the driveway, how close the other line is to the side yard, etc. $500 doesn't seem bad for that. Small city plot but when I had mine done, they put a flag stake at every angled corner and then a pair at the ends of a curved section and then a third at where the radius started from, so all the points to connect but they weren't connected. Best $700 I spent to find out my rear neighbor had walled in his easement and was taking advantage of my PO who built their wall 10 feet inside the property line as a result, so I was able to reclaim some space. Qwijib0 fucked around with this message at 13:53 on May 24, 2022 |
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May 24, 2022 13:51
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Slugworth posted:Legal concerns are one thing, but frankly this is all one big invasion of privacy. Imagine thinking it was appropriate to Google a stranger's email to ask them poo poo like this. We found a bunch of old family photos in the house we bought (purchased from the family of the deceased man), and went through the listing agent to ask if they wanted them, because it seemed rude to just find their contact info online. I can't imagine thinking "instead of paying for the survey on this house, we'll just occasionally email the previous owners to see who that fence belongs to". I would be furious if someone went around the agents and tracked me down directly, at work no less. I considered sending a short letter to the people who bought our place to give them a heads up about a contractor from our PO (or maybe earlier?) who just looks up who the current owners are and sends an invoice (we thought he'd been notified when we told the agents to deal with it, until he sent one again a couple months ago like 6 months after we sold). But that was a little too invasive to me.
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May 24, 2022 14:11
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Qwijib0 posted:Small city plot but when I had mine done, they put a flag stake at every angled corner and then a pair at the ends of a curved section and then a third at where the radius started from, so all the points to connect but they weren't connected. I really should have one done to see how much of the "path" that runs outside along my fence is mine. Neighbour mentioned it was mine, so cool, but I think a professional should tell me that.
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May 24, 2022 14:14
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House-buying thread - Why is everyone involved in this process so deeply stupid? https://www.cbc.ca/news/canada/sudbury/sudbury-josh-keyes-house-buyers-remorse-1.6461379 quote:Sudbury buyers say housing market pressure made them leap into bad purchase quote:He said the sellers did not disclose any issues with the house. But when they entered the home for the first time after getting possession in February, they discovered cockroaches, a sewer line that needs to be replaced, gaps under baseboards, and a rotting support beam under the house. lol. lmao.
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May 24, 2022 14:26
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In peoples experience here how long did wired funds take to hit your account? Is this a thing I need to keep a constant eye on? Once it hits the account is it available right away? I've got a roughly 36 hour period between closings and need the funds for the down payment on my next place.
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May 24, 2022 14:33
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This story came across my feed this morning lol https://www.clickorlando.com/news/investigators/2022/05/16/be-aware-identity-thief-uses-fraudulent-deed-to-take-orange-county-mans-property/
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May 24, 2022 14:59
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haha, just to vent a little: been under contract for 36 days on a house. Listed at X, we offered X, they accepted. Went as-is, as we can change out outlets or whatnot. Big hit was radon damage (they gave us $2K off at closing) and hail damage on the roof, which, to us, hey, free roof! They hemmed and hawed but eventually filed a homeowners' claim (don't know what their deductible was), and new roof got put on last week. Before the roof got on, we had the appraisal done, and it came in $25K less than X. Hell yeah, gently caress yeah, less money for us to pay. They appealed the appraisal. The appraiser went back out the next day and said "as it turns out, I'm good at my job, no change." Buyers want another appraisal, offer us $350 at closing to get it done. We get it done, and the guy goes on the day the roof is being installed, and comes back at $9K less than X. OK. Fine. We offer a little higher than the average of the two appraisals, X-$14K. They counter with X-$4K., we come back with X-$6K, and a closing cost credit because all of this back and forth has pushed us past when our apartment leases would expire, so we're going to be paying month-to-month daily rates until our 60 days notice is reached. They come back with no movement on their offer, as well as disclosing that they can't promise a closing soon because there are loving federal tax liens on the property, that I assume hit between the time we got a title search done and literally right now. lol. lmao. why are we so deeply stupid
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May 24, 2022 15:06
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BaseballPCHiker posted:In peoples experience here how long did wired funds take to hit your account? Hours. And yes, chase that poo poo/let the receiving bank know you're expecting and that you'd like them to call you when it hits.
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May 24, 2022 15:35
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