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Motronic posted:Hours. This seems to vary ime depending on what time you send the wire/your bank/receiving bank/etc. I've definitely sent wires past the cutoff/had them show up the next day, which is always fun.
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May 24, 2022 15:43
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Motronic posted:Hours. Residency Evil posted:This seems to vary ime depending on what time you send the wire/your bank/receiving bank/etc. I've definitely sent wires past the cutoff/had them show up the next day, which is always fun. Thanks for the info. Current plan is to close end of day on a Monday and get funds via wire, then close on new house Wednesday afternoon. I'll know to chase this down and call my bank or receive a call once it hits. My biggest fear is this going south, and then having to either rework closing docs the day off to lower the down payment, or get some sort of weird personal loan to cover the down payment the day of. With the movers coming on Thursday I dont really have any wiggle room. Can not wait to be done with all of this.
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May 24, 2022 15:57
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BaseballPCHiker posted:In peoples experience here how long did wired funds take to hit your account?
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May 24, 2022 15:59
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BaseballPCHiker posted:Thanks for the info. Just wire your proceeds to your purchasing closing attorney instead of doing two wires.
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May 24, 2022 16:35
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TheWevel posted:Just wire your proceeds to your purchasing closing attorney instead of doing two wires. Lol no. This is an amazing bad idea for so many reasons, the first of which is a fraud vector. That first reason is why it absolutely can't/won't be done by any reasonable abstract/title/closing company handling the transaction on either side.
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May 24, 2022 16:38
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Motronic posted:Lol no. This is an amazing bad idea for so many reasons, the first of which is a fraud vector. That first reason is why it absolutely can't/won't be done by any reasonable abstract/title/closing company handling the transaction on either side. I mean, I get it, but IME they'll wire to whoever you want without question. I guess I was thinking escrow to escrow was easier.
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May 24, 2022 16:54
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Deathlove posted:we had the appraisal done, and it came in $25K less than X. Hell yeah, gently caress yeah, less money for us to pay.
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May 24, 2022 16:55
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BaseballPCHiker posted:Thanks for the info. In addition to notifying your bank, you also need to check what the limits may be for outbound wires from your account. Most normal accounts with big banks either don't have access to wires or have a very low cap on them to prevent fraud since wires are very much fire and forget, and smaller banks may not support them at all for basic accounts. Lots of due diligence to do on this specific part. I actually had to upgrade an account I had at Citi to one that charged a fee in order to do a wire out of the high yield savings account I had there.
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May 24, 2022 17:05
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spf3million posted:You lost me here In a normal market, you could negotiate the purchasing price down to the appraisal price potentially. In this market it's "hope you got the cash to cover the gap fucker! NEXT PLEASE!"
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May 24, 2022 17:05
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spf3million posted:You lost me here BonoMan posted:In a normal market, you could negotiate the purchasing price down to the appraisal price potentially. Yeah, around here a lot of places say "no appraisals" because none of them would make it to the heights the market has been asking (and if the bank doesn't like the odds of them getting their money back if you default on the mortgage, they'll back out of the deal), but these folks didn't, so, hey, negotiating point.
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May 24, 2022 17:28
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Deathlove posted:haha, just to vent a little: This sounds pretty lovely  The sellers unfortunately don't seem stupid, they've out negotiated you so far & aren't being fully honest. loving around with $350 is another red flag, relatively it's a very small figure, they're petty on top of greedy & dishonest.You need to figure out lines in the sand regarding $ and timing that you'd be willing to walk on this one for. I'd also recommend trying to photograph the place with/by your realtor to make sure the seller's don't do something ridiculous. On the reverse side - you just got serious negotiating power. Tax liens make this a helluva lot less appealing to other buyers. It also means these sellers need $ and the longer this goes, the more it costs them (credit, interest, fees). I think it's reasonable to go back to your X-$6K plus closing costs and make it clear you're ready to walk over their bullshit if they don't give you something to offset it. Finding a couple comps on redfin/zillow can add weight to the demand. Unless you really trust your realtor, make it clear to them you're willing to walk(even if you're not there yet) - that adds even more. Best of luck to you.
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May 24, 2022 17:32
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BaseballPCHiker posted:In peoples experience here how long did wired funds take to hit your account? Under 30 min going in or out every time as long as it was before 2 pm Eastern.
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May 24, 2022 17:46
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1st_Panzer_Div. posted:This sounds pretty lovely It's also tough to say the sellers out-negotiated Deathlove, because Deathlove signed a contract to pay $X, and is now paying substantially less than $X. And you're right that Deathlove needs to know where this price and house stack up against the comps to know what the best course of action is.
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May 24, 2022 18:25
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When I sold my house, I just let my agent know that I was willing to blow up the deal at any sign of stupidity from the buyer The first people broke the deal over 800 dollars in chimney repairs because they wanted the work done rather than taking a credit. Some people are just dumb
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May 24, 2022 19:52
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daslog posted:When I sold my house, I just let my agent know that I was willing to blow up the deal at any sign of stupidity from the buyer Our little Mackinsleigh will not be living in a construction zone, the house must be Move. In. Ready.
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May 24, 2022 19:57
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At first I thought it was because contractors are expensive and hard get ahold of for short-term fixes and the buyers didn’t want to deal with that, but the credit obviates the cost and a chimney isn’t that high-priority, so…
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May 24, 2022 20:03
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Is coming in over asking and putting the seller on a short clock to box out other viewings a solid strategy or just a dick move that's going to get me punted? (Pittsburgh, market seems to be cooling a tad)
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May 25, 2022 00:28
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cr0y posted:Is coming in over asking and putting the seller on a short clock to box out other viewings a solid strategy or just a dick move that's going to get me punted? Worked for me.
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May 25, 2022 00:30
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My realtor said in the years he's been realtoring on the sell side, he's never paid attention to a clock from a buyer because the clock is never followed through on, the buyers never actually back out after the clock is finished. But I guess it can't hurt.
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May 25, 2022 00:37
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Inner Light posted:My realtor said in the years he's been realtoring on the sell side, he's never paid attention to a clock from a buyer because the clock is never honored, the buyers never actually back out after the clock is finished. But I guess it can't hurt. I mean yeah it's a bluff.
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May 25, 2022 00:39
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cr0y posted:Is coming in over asking and putting the seller on a short clock to box out other viewings a solid strategy or just a dick move that's going to get me punted?
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May 25, 2022 01:08
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cr0y posted:Is coming in over asking and putting the seller on a short clock to box out other viewings a solid strategy or just a dick move that's going to get me punted? Worked wonders for me in PDX. It's one of the only things in your toolkit as a buyer in such a hot, seller's market. The biggest risk to it is overpaying in a balanced market. Secondary upside is you know the seller's are anxious and can potentially get more (which also worked for me). It's also not a bluff? If sellers say no, you're off to a different house - it saves you time that way.
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May 25, 2022 01:11
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The house that I didn't buy because it was full of mold sold for 30k more than I won it for. Market's still whack. I doubt they even fixed the garage roof that's only supported by 1 2x4 and has one wall resting on dirt instead of foundation.
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May 25, 2022 01:13
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cr0y posted:Is coming in over asking and putting the seller on a short clock to box out other viewings a solid strategy or just a dick move that's going to get me punted? Worked for me too.
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May 25, 2022 01:19
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Market definitely seems to be slowing here in denver too, at least based on the increase in inventory and number of price drops. It seems like everyone was saving their homes for the spring selling season, ready to make a killing, and then the fed spoiled their party.
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May 25, 2022 02:46
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Oh cool so I just loaded into the loving crest 😑
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May 25, 2022 03:11
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Yeah, I’m thinking of just skipping out until another year. I’ve clearly got a lot of learning to do, and I’m not in dire need of a house or anything, so I’m willing to wait until the right one comes along. Speaking of, I found this, and I’m trying to figure out what’s wrong with it. https://www.zillow.com/homedetails/525-Norfolk-St-525-Mattapan-MA-02126/2063183146_zpid/ Listed twice, one as a condo, the other as a house (assuredly townhome). One of two units. New construction (does not mean good construction). No HOA, walking distance to public transport. Not sold in the construction or layout, but I’m no architect, so maybe it’s just not to my taste. Not really any good comps in the area. Don’t know how to vet the builder or seller, so I don’t know if this is a trustworthy option or not. It looks decent, not perfect but reasonable. I could make the commute work, maybe. Is there anything wrong with it that I’m not picking up on?
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May 25, 2022 03:23
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Pollyanna posted:Yeah, I’m thinking of just skipping out until another year. I’ve clearly got a lot of learning to do, and I’m not in dire need of a house or anything, so I’m willing to wait until the right one comes along. You are paying to share a wall in a new-built home with a stranger. I would not be confident that any money had been spent on sound insulation.
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May 25, 2022 03:30
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Yeah, that’s why I’d prefer an SFH and why I haven’t been considering condos. The lack of sound insulation is a good point. The lack of a HOA is also weird, in that context. I’d have to ask what party is in charge of keeping the property up. Kitchen’s pretty small. The more I look at the layout, the less I like it. Pollyanna fucked around with this message at 03:51 on May 25, 2022 |
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May 25, 2022 03:37
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Arsenic Lupin posted:You are paying to share a wall in a new-built home with a stranger. I would not be confident that any money had been spent on sound insulation. Lol, come on. Modern multi units are commonly very well insulated. Literally have never heard either of my neighbors or their dogs. Many building codes are pushing higher and higher insulation standards in general along with energy efficiency requirements. Pollyanna posted:Yeah, that’s why I’d prefer an SFH and why I haven’t been considering condos. The lack of sound insulation is a good point. You will enter into a party wall agreement. When time comes to re-side or replace the roof the agreement will dictate the terms. Most likely a 50/50 split. An HOA can be messy but with a party wall you can be up a creek is the other member doesn't have the cash. You typically do not build a reserve like with an HOA. To mow the grass and stuff you would agree to hire someone and split the cost and such. The house is a bit of a weird design vs a typical townhome. spwrozek fucked around with this message at 04:20 on May 25, 2022 |
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May 25, 2022 04:18
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So now I have to depend on the other party. That’s already giving me a headache. I can’t find much info on party wall codes in Boston. I’d have to grill the builder over it. spwrozek posted:The house is a bit of a weird design vs a typical townhome. Yeah, even before maintenance and whatnot, I don’t think the layout works for me. Hard to tell without physically being there, to be fair, but I’d get sick of the verticality pretty quickly.
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May 25, 2022 04:25
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Pollyanna posted:Yeah, I’m thinking of just skipping out until another year. Same - just signed a 2-year lease in our target neighborhood for the exact floor plan that we want. Hoping we can just buy this from the owner in 2 years or that the market is more friendly to buyers.
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May 25, 2022 13:04
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Pollyanna posted:Yeah, I’m thinking of just skipping out until another year. I’ve clearly got a lot of learning to do, and I’m not in dire need of a house or anything, so I’m willing to wait until the right one comes along. I would be uh, disinclined to live in Mattapan right off Blue Hill Ave.
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May 25, 2022 13:23
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Oof, that bad, huh?
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May 25, 2022 13:27
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Pollyanna posted:Oof, that bad, huh? Blue Hill Ave and Morton is like the worst corner in the city.
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May 25, 2022 13:30
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God drat. Welp, that’s why I have you guys to do my work for me ᕕ( ᐛ )ᕗ
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May 25, 2022 13:33
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laxbro posted:Same - just signed a 2-year lease in our target neighborhood for the exact floor plan that we want. Hoping we can just buy this from the owner in 2 years or that the market is more friendly to buyers. Yeah, not a bad idea. In my case, the down assistance is turning out to be influenced by family dynamics and expectations after all  so I need to clear the air there before I even think of buying. It’s too early.
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May 25, 2022 13:46
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Pollyanna posted:God drat. Welp, that’s why I have you guys to do my work for me ᕕ( ᐛ )ᕗ 
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May 25, 2022 13:47
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spwrozek posted:Worked for me. It worked. Signed acceptance contract in hand as of an hour ago. Seller had 5 showings this afternoon and cancelled them.
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May 25, 2022 15:28
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cr0y posted:It worked. Signed acceptance contract in hand as of an hour ago. Seller had 5 showings this afternoon and cancelled them. Nice, hope the rest of the process goes smoothly for you.
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May 25, 2022 15:37
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