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ntan1 posted:Code to find out is "What do you believe is the exact price the house will sell for?" Frankly, it's a little annoying that nothing seemed to make sense in the whole deal. Better houses went for less nearby. Amazing houses went for slightly more nearby less than a month ago. There was a whole lot of compromises I was willing to overlook but I wasn't going to go max when they listed it at max-130k!
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Dec 3, 2020 02:49
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Yeah the low inventory thing sucks right now. I'm being transferred for work in 6 months, luckily to an area where I have family and my wife is there now so she can help with househunting if needed. We've identified a specific area we want to live in, which is on the border of suburb/rural about 30 minutes outside a medium sized city. Our target zone includes about a half dozen established neighborhoods, and in that area, houses are dribbling to market at the rate of about one a week, and going pending in 24-48 hours. If we were willing to buy new construction in a tract neighborhood a few miles away that'll still be selling new builds for years to come, with a HOA and <0.2 acre lots, there would be a lot more options, but I really don't want to do that. Oh and the median closing price for the zip code has gone up from about 360k to about 420k so far this year. Which whatever, we can afford it, but I'm only going to be at this office for 2-3 years, so I would hate to buy high and have to sell low or become a landlord again (I will get my closing costs covered on move-out at least). Maybe we will get lucky and a rental home will pop up, or the market will cool down a bit. Mostly just bitching about this process, sorry. The last place I bought was in 2006 and that was not a fun ownership experience in total.
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Dec 3, 2020 03:10
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Two places we looked at went for $100k over what we thought was the high end for that neighborhood, not $100k over ask, but over what we thought it would go over ask If you filter out the C/D tier properties, the B tier properties with just a few weird things go for about what you expect The low A/A tier properties, with a private back yard, view, at the end of a culdesac with his trees etc only stay on the market a couple of days and get bid way up. A really prime lot and a house with excellent curb appeal and great internal layout will go way over ask
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Dec 3, 2020 03:13
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redbrouw posted:I am no longer calm about offer day. My agent tried to scare us into upping our price again, without telling me why other than her experience. It was obviously causing my partner a lot of stress as I tried to question our agent why she thought that given the only comparables in the area, so I stopped. Do keep in mind that they can't just overvalue the homes to get huge commissions. The bank will only loan up to what their appraisal values for the home is. You can put in a bid for a home at the price you like and then put in a clause of we will bid $1,000 over highest bid up to value X. The seller actually has to provide proof of higher bids of course. Also pretty much the only job of a realtor for the buyer these days is to make your life easier. You can put in bids or look at houses yourself if you want. I wouldn't recommend it but what I'm saying is if your realtor is making you nervous and not being helpful then dump them. Shwqa fucked around with this message at 05:32 on Dec 3, 2020 |
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Dec 3, 2020 05:26
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Tyro posted:Yeah the low inventory thing sucks right now. I'm being transferred for work in 6 months, luckily to an area where I have family and my wife is there now so she can help with househunting if needed. We've identified a specific area we want to live in, which is on the border of suburb/rural about 30 minutes outside a medium sized city. Our target zone includes about a half dozen established neighborhoods, and in that area, houses are dribbling to market at the rate of about one a week, and going pending in 24-48 hours. If we were willing to buy new construction in a tract neighborhood a few miles away that'll still be selling new builds for years to come, with a HOA and <0.2 acre lots, there would be a lot more options, but I really don't want to do that. This is speculation based on a sample size of one, but I think that there are also a lot of institutional buyers out there right now hoovering up inventory. We've been in our new house for about a month now and in that time have gotten 3 mailers from local "investment buyers" addressed to the (dead) previous owner offering to buy the house cash, no inspection, etc. The "we'll buy any home" kind of stuff. I don't know where they're getting the address, but I'm guessing it's some kind of county database that hasn't updated with our purchase. Maybe a cross reference of that with obits to find estates or something because one of them featured a bunch of "these guys made selling mom's old house so easy" type of quotes on it. Maybe this is normal, I was just shocked get three in less than a month. We would get them addressed to the owner at a condo we rented a few moves ago but those came like one every six months or os. If investment individuals and companies are plowing into the market for whatever BFC reason (I dunno, more secure than stocks, bond yields are poo poo, lending rates are low?) that, plus the COVID exodus to the suburbs, could help explain the low stock. As an aside I'm really happy we bought. Probably paid a little too much, but the house is great and we're now paying less than our old (extortionate) rent, even with putting aside a little each month for homeowner costs down the road. Oh and utils are somehow cheaper on a 1500sqft house than a 800sqft apartment. God the insulation and windows in the old place blew. Like literally. Because of the huge gaps and lack of insulation.
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Dec 3, 2020 15:45
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Shwqa posted:Do keep in mind that they can't just overvalue the homes to get huge commissions. The bank will only loan up to what their appraisal values for the home is. Yeah escalation clauses are pretty standard fare, though a lot of it still comes down to contingencies and financing when sellers are choosing an offer. Does prevent you from overpaying by a lump sum though. We are under contract to sell our place and I was pleased that one of our offers used odd numbers. Because their escalation amounts tacked on $2006 increments, it triggered one extra escalation and we walked away with a $3,000 higher purchase price. I guess you don't love to see that as a buyer, but so it goes.
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Dec 3, 2020 16:03
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Rasputin on the Ritz posted:This is speculation based on a sample size of one, but I think that there are also a lot of institutional buyers out there right now hoovering up inventory. I mean some of this is just good ol' mom-n-pop flippers looking to take advantage of people by buying their house for 50 cents on the dollar, putting in $20k worth of cosmetic upgrades and selling at a huge profit. However, the large institutional firms getting into this space are very interesting. They use complex computer models to find properties to buy all over the country based on how profitable they can be rented out. They also have massive economies of scale to do upgrades/maintenance for way less cost than what small-time investors can do. Obviously, they have in-house legal council to easily handle evictions and rent collection - the stuff that can kill smaller investors. It's basically the model used by large apartment complexes and commercial real estate applied to single-family houses.
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Dec 3, 2020 18:36
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Chad Sexington posted:My wife made the mistake of telling our seller that she likes a lot of her furniture when she went to visit the house the other day. The woman is moving to Malta so she either has to put things in storage or get rid of it. My wife thought that was a recipe for a deal. This poo poo tree appears to have borne fruit. We replied to the woman saying we didn't want anything after all. She replied to us saying it was negotiable and we could pay in installments or whatever. We didn't reply because... we said no? Now it's a week before close and apparently she is spitting mad and saying she can't be out by close because all this poo poo she imagined she would sell us is still in the house. I don't think she really has any recourse and we can't really flex on our move-in date, but I don't like knowing that a woman who now wishes us ill is there for another week. To future goons: never loving talk furniture with your seller.
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Dec 4, 2020 16:14
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Chad Sexington posted:This poo poo tree appears to have borne fruit. We replied to the woman saying we didn't want anything after all. She replied to us saying it was negotiable and we could pay in installments or whatever. We didn't reply because... we said no? She can convey it to you for free but you expect your home to be broom swept clean before closing. Or you can offer her something low - like 10-20% of her original offer to make her happy if you actually want it. She's the one who has a problem here. Unless she torches the place. I would not sign without a final walk through the day of - your realtor can zoom it and record it.
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Dec 4, 2020 16:25
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H110Hawk posted:She can convey it to you for free but you expect your home to be broom swept clean before closing. Or you can offer her something low - like 10-20% of her original offer to make her happy if you actually want it. She's the one who has a problem here. Unless she torches the place. I would not sign without a final walk through the day of - your realtor can zoom it and record it. I think we're just going to gray rock it and not discuss it further. We told her agent she could store things until the day after closing to be moved the morning we move in, but even that is generous when we're talking about furniture. I have empathy for her situation, but I feel like if we even open up the possibility of things conveying, she's then going to start trying to negotiate prices and it introduces even more emotion to the situation. Plus I don't want to have to deal with getting rid of poo poo either. We already ordered a couch, I don't want to have to deal with moving hers any more than she does. Walkthrough is scheduled for the day before close. Will be interesting!
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Dec 4, 2020 17:01
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repeat after me: get your poo poo the gently caress out of my house
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Dec 4, 2020 17:03
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Yeah you don't owe her jack poo poo. You told her you weren't interested, she failed to move it out. Now she's paying the price. Tell her if it's not out, it's considered abandoned and you will invoice her for the cost of removal. Closing date is not moving, that's not your problem. Of course, run this by your closing attorney in case any local laws give her the right to come back for it. The threat is probably sufficient, but don't carry it out unless you have confirmation that you can do it legally.
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Dec 4, 2020 17:08
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Chad Sexington posted:I think we're just going to gray rock it and not discuss it further. We told her agent she could store things until the day after closing to be moved the morning we move in, but even that is generous when we're talking about furniture. No, no, no. Do not do this lol Jesus please don't do this.
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Dec 4, 2020 17:10
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Chad Sexington posted:We told her agent she could store things until the day after closing to be moved the morning we move in No NO. NO. Do not allow someone else's poo poo to be in YOUR house and then allow them to move things out of YOUR house. Why did you say this? Who's idea was it? This is the second worse idea I've ever heard in regards to closing. The worst is rentback. If she need another day: PUSH CLOSING. Let her know you're serious about her poo poo out of yours house.
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Dec 4, 2020 17:14
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Motronic posted:No NO. NO. That was a mollification tactic from our agent which I am regretting. She was talking about a rent-back which we gave a hard no to. One day doesn't make a difference anyway from a moving your poo poo perspective. But we can't push close. It's already on a Friday and movers come Saturday.
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Dec 4, 2020 17:33
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Chad Sexington posted:That was a mollification tactic from our agent which I am regretting. She was talking about a rent-back which we gave a hard no to. Well, I'm looking forward to your update that Saturday.
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Dec 4, 2020 17:40
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Chad Sexington posted:One day doesn't make a difference anyway from a moving your poo poo perspective. Why do you think this? Can I come to your new house and move poo poo around and out, potentially damaging paint/walls doors too?
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Dec 4, 2020 17:41
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Motronic posted:Why do you think this? The date relative to close matters, yes. I just meant that she should be able move poo poo out Wednesday just as easily as Thursday, which is why we said no to the rent-back. (And should have said no to the storing poo poo olive branch — I agree.) BRAKE FOR MOOSE posted:Well, I'm looking forward to your update that Saturday. 
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Dec 4, 2020 17:52
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Chad Sexington posted:
Oh sweet summer child. It's going to be, oh I couldn't get movers for that day, then oh they cancelled on me, then etc/etc/etc.....
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Dec 4, 2020 18:43
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Please no Game of Thrones references in 2020
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Dec 4, 2020 18:48
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GoGoGadgetChris posted:Please no Game of Thrones references in 2020 Had no idea that was a GoT ref...
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Dec 4, 2020 18:49
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mattfl posted:Had no idea that was a GoT ref... It's not but a lot of people had never heard the phrase before the series.
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Dec 4, 2020 18:51
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GoGoGadgetChris posted:Please no Game of Thrones references in 2020 That phrase is from the 1800s.
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Dec 4, 2020 18:54
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This whole purchase has me tired as heck. The latest issue is the appraiser cannot get into the place because the seller agent is being unresponsive. I don't understand, they're the one who wanted a 30 day close. I feel like I'm the one pushing everyone to meet that deadline.
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Dec 4, 2020 18:58
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MeruFM posted:This whole purchase has me tired as heck. The latest issue is the appraiser cannot get into the place because the seller agent is being unresponsive. I don't understand, they're the one who wanted a 30 day close. I feel like I'm the one pushing everyone to meet that deadline. You need to understand that no one else really gives a gently caress other than you and the seller, and the system insulates those two parties from each other. So yeah, you're constantly pushing through apathy. Buying a house is a big deal for YOU. Everyone else in this transaction other than the seller does this every drat day.
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Dec 4, 2020 19:00
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Motronic posted:That phrase is from the 1800s. This is one of my absolute favorite facts so apologies for the derail here. You are correct that the words were strung together in the 1800s, specifically to mean "the wind" as a metaphorical offspring of the summer An 1849 poem by James Babcock "Thy home is all around, Sweet summer child of light and air, Like God's own presence, felt, ne'er found, A Spirit everywhere!" Inspired by the use one year earlier, it was copied by Fredrika Bremer in 1850 in her poem The Creole "Blue was the summer ah-, and mild The fragrant breeze, — sweet Summer's child. All rob'd in white, dead Stanley seem'd, And radiance, from his features, beam'd; - Meta, companion of his way, — Yet pale as when, on earth, he lay" SpartanIvy posted:It's not but a lot of people had never heard the phrase before the series. Incorrect. 'Sweet summer child' as a term for naivety is a GRRM-original creation! Many people distinctly recall their southern grandma saying it a Long Long Time Ago, and maybe she did, but it was after 1997 and she read the books!
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Dec 4, 2020 19:07
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GoGoGadgetChris posted:This is one of my absolute favorite facts so apologies for the derail here. You are correct that the words were strung together in the 1800s, specifically to mean "the wind" as a metaphorical offspring of the summer It also follows very closely with passive aggressive insults in the southeast US. Although it wasn't popularly used as such, to my knowledge, before GRRM's books, it is very similar to "Bless your little heart" and "Oh sweetie, no."
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Dec 4, 2020 19:21
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Chad Sexington posted:We told her agent she could store things until the day after closing to be moved the morning we move in, but even that is generous when we're talking about furniture. Also, what's your plan when she doesn't show up to move her stuff?
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Dec 4, 2020 19:23
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MeruFM posted:This whole purchase has me tired as heck. The latest issue is the appraiser cannot get into the place because the seller agent is being unresponsive. I don't understand, they're the one who wanted a 30 day close. I feel like I'm the one pushing everyone to meet that deadline. This is where your buyer's agent earns their percentage: they should be calling the selling agent every 10 minutes until they get a response, and failing that, they should be calling the selling agent's broker to get the lockbox code or have another agent/intern get you what you need. It shouldn't have happened to begin with, because the appraisal (just like any inspections) should've been clearly scheduled days in advance with all parties in agreement. Your buyer's agent shouldn't be laying any of this on you, they should be saying "I'm having trouble with the seller's agent, but don't worry MeruFM, I'm on this"
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Dec 4, 2020 22:18
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GoGoGadgetChris posted:
Sorry for continuing the derail but I definitely remember my very-Southern mother saying it to me and my siblings when I was a kid, before 1997. Maybe my brain is doing funky things with time, memory is a bizarre-rear end construct. 
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Dec 6, 2020 15:18
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Tyro posted:Sorry for continuing the derail but I definitely remember my very-Southern mother saying it to me and my siblings when I was a kid, before 1997. Maybe my brain is doing funky things with time, memory is a bizarre-rear end construct. I have never seen nor read GoT and my Georgia grandmother was definitely using that expression in the late 80s.
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Dec 6, 2020 22:57
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I remember mine saying it too. She was about to read my favorite issue of Bearenstein Bears but I asked if we could watch Season 2 of Mr Bean instead "You sweet summer child, did you hear Nelson Mandela just died?"
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Dec 6, 2020 22:59
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GoGoGadgetChris posted:I remember mine saying it too. She was about to read my favorite issue of Bearenstein Bears but I asked if we could watch Season 2 of Mr Bean instead Bless your heart . 
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Dec 6, 2020 23:02
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Tell me about owning a condo town home, since I seem to be priced out of detached (and they're only selling in places my wife can't get to work). They just redid the roof on this 17 year old place I looked at, and they seem to be willing to sell it to me for less than comparable gray box stuff nearby. With conditions, too.
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Dec 7, 2020 03:59
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redbrouw posted:Tell me about owning a condo town home, since I seem to be priced out of detached (and they're only selling in places my wife can't get to work). Read all the HOA minutes going back at least a year, figure out what you're getting yourself into One HOA minutes I read, they decided to have one of the retired owners go up on the roof with a caulking gun to fix a few of the minor leaks to put off replacing the roof ($40,000 in this case) for another 3 years Other HOA minutes only two board members (of five) showed up more than 3/12 months Our HOA has people complaining about the external vent and the board tells them that it's an owner responsibility (helps keep hoa dues low) My wife is loosely involved with a townhome HOA and we get letters about service trucks parked in the wrong area and $10 fines for this every 6 months or so. Probably some eagle eyed bored housewife calling it in. It varies wildly. Figure out what the HOA will and will not pay for. Here, we are responsible for broken windows, but if it is broken due to heat/expansion it's covered by the HOA for reasons. Roof repairs are sometimes considered external (sometimes not) and those repairs might have been covered by the HOA. If your townhome has a shared pool/clubhouse etc, especially with an elevator, figure out what the projected life span of that is, it's replacement cost is and expected remaining lifespan. Elevators can be $60,000 or more to fix in some cases. The HOA reserve fund should be 35-90% funded, 60% was about the norm I've seen but it varies wildly Hadlock fucked around with this message at 06:34 on Dec 7, 2020 |
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Dec 7, 2020 06:31
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redbrouw posted:Tell me about owning a condo town home, since I seem to be priced out of detached (and they're only selling in places my wife can't get to work). The number of owners and the construction impose radically different requirements; if this is a two-family, just checking up on the exterior and making sure the condo docs are boilerplate is sufficient, but the bigger it is the bigger the necessary due diligence. My mind went to a completely different place than Hadlock's post above because we just bought a condo in a two-unit townhouse in an area with a huge number of two- and three-unit buildings.
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Dec 7, 2020 07:09
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We put in an offer at asking-10k. They countered within an hour with offer-5k. This put us roughly 50k lower than the almost identical unit that sold on the 1st 40 feet away. We've accepted with conditions, and are going to spend the next few days reading all the condo minutes and financials. And get a home inspection although I'm not sure what the covid protocols on that will be given how old the occupants are. It's a full unit with a garage at the bottom (some of them are stacked but not this one). Garage door is a little rusty at the bottom, doesn't look like they ever had a car in it and it sat in the slush from the shared driveway forever. Similar problem with a few of the other unit's garage doors but they all seem to open just fine. Honestly, other than a little bit outdated kitchen and carpets we want to rip up, it's in fine shape. There are no shared amenities or common buildings, and as far as I can tell, no elevator. There is an underground parking garage which I checked out. I work in concrete and there were no signs of the usual water damage or corrections I would see in a bad garage. But I have seen and participated in nightmares with bad underground lots. The place is pretty much perfect design-wise for my odd lifestyle, and it's 2 minutes away from my current apartment, so I don't even have to change neighbourhoods. I'm pretty happy with it barring any crazy obvious deficiencies with the condo side. It is insane how fast this went, though. I really did think I would be looking forever. edit: huzzah for even getting a place that keeps my total housing costs below 25% of gross income in Toronto of all loving places. redbrouw fucked around with this message at 08:28 on Dec 7, 2020 |
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Dec 7, 2020 08:25
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Oh God, I got a cashier's check and I'm signing tomorrow. I'm super excited and nervous at the same time.
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Dec 8, 2020 02:46
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Shwqa posted:Oh God, I got a cashier's check and I'm signing tomorrow. I'm super excited and nervous at the same time. Congratulations.
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Dec 8, 2020 03:33
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On your loss
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Dec 8, 2020 03:36
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