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Maybe it’s selection bias but every story of a leaseback I ever hear ends up involving damage to the property or some other poo poo.
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Jul 26, 2020 16:51
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Building isn't really all that crazy expensive compared to buying an existing house. I mean, it can be if you're going insane with custom everything and the most expensive materials out there, but if you have a piece of land with a falling down structure on it and just want to bulldoze and make a reasonable, modest, normal house it's doable. I know a few people who have built houses, both of the custom rich people variety and the normal people variety. edit: which is to say that just because they're building doesn't mean they're rich and you shouldn't use that as any kind of litmus test for what they can afford.
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Jul 26, 2020 18:48
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B-Nasty posted:This is the common logic behind the phrase "starter home". It's typical that a younger individual doesn't have the savings or salary to buy their ideal home. They start with a small townhouse or something a little more affordable, and in 7-10 years, their (hopefully) increased salary, savings, and possibly some home equity allows them to buy something more expensive. Tell me of this "stah-tur home." I believe I have heard legends of these mythical beasts, but I have never met someone who has seen one in person.
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Jul 27, 2020 01:42
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Quabzor posted:Is upgrading/flipping starter homes a problem too? Any small homes that I'm seeing near me are recently refurbished or have absolutely minuscule 3rd bedrooms that are hardly bigger than my wife's walk in closet (her dad and grampa build their absurd house). The bigger problem where I am is starter homes getting bought, torn down, and a mcmansion built right up to the property lines.
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Jul 28, 2020 12:34
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Hey thread. I'm kind of keeping an eye on A/T while your normal mod takes care of life. Your substitute mod also had life happen, so here I am. The substitute to the substitute who will probably be substituted myself. I'm just gonna toss out there that you might not want to discuss insurance fraud on a public internet forum. Not because I'm going to waggle my finger at you or use mod buttons, but because that would be extremely unfortunate to have floating out there if you ever had to make use of homeowners insurance. For example, I wouldn't want some adjuster to find posts talking about the best way to commit fraud even if I had a totally legitimate claim, just because it's going to gently caress things up. Is your insurance adjuster reading this forum a high likelihood thing? In all honesty, no. But I also once caught the world's worst PI in my condo's parking lot trying to catch my neighbor not being as disabled as he said he was so it's also not completely insane.
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Sep 4, 2020 23:37
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PageMaster posted:We just put in an offer on a house built in 1972. House is in great shape and was recently remodeled (though I'm still trying to get the exact scope and time of the remodel), but I understand the age does mean the possibility of asbestos and lead based paint exists. Should I also be hiring someone to test for all that, and how concerned should we be with drilling into walls for mounting? I'm also assuming I should check for lead plumbing piping as well? My understanding, based on talking to contractors about similar poo poo a long time ago so do your own homework, is that lead paint is really only a problem if the original paint is there and on the surface or otherwise exposed in a way that's going to bring it into your enviornment. Having a layer of lead paint three paint jobs down on your crown molding isn't going to be a problem, but having a 60 year old paint job flaking off where your kid can find and eat the wall candy is.
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Sep 21, 2020 13:43
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poeticoddity posted:Yeah. It's a real shame because it's basically an ideal property for me (lots of privacy, a stocked pond, and enough woods for hunting) but man is it in rough shape. poo poo, I'd be trying to find out if the shotguns transfer with the house. Wanna do a home deal that involves an FFL. (not really) edit: huh. That actually brings up an interesting question. If you buy a house and find a gun in the attic, is that an illegal transfer? Probably less of a problem in, say, Arkansas than in Washington, but still.
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Sep 25, 2020 17:53
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wolfs posted:is new construction required to have railings on steps at the front of a house? Just based on the last condo I rented I'd be out there to take that tree down tomorrow. There was a fairly large tree (~3 foot diameter) that had been planted right in the sliver of green between the condo front and the community path to get to the front door. One day we woke up to find that the little green bit out there was a swamp with a half inch of standing water. Tree had heaved enough poo poo to break the pipe. The people were were renting for had to pay to have the tree removed and it turned out the roots had hosed up pretty much every pipe going into that condo, so a huge chunk of dirt around it had to be dug up for a while while they ran new water and sewer. No loving way I'd leave a tree over pipes I owned.
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Oct 3, 2020 17:44
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wolfs posted:well that sounds horrific! it's a tall sapling - maybe 2 inches in diameter Yeah, get it out while it's young. Taking out a 2 inch tree is something you can do with a saw and a shovel. When they get big enough to start eating your pipes it's arborist and yard crew time. If they just put it in there's also a good chance you can just have it moved. It might kill the tree, but it might not.
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Oct 3, 2020 18:25
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wolfs posted:Brought it up to my realtor. We’ll see. If you haven't closed yet you need to be raising a big stink, ideally by insisting the builders violated the HOA guidelines when they puti n the pipes like Motronic said. You 100% do not want to be buying a house with an HOA mandated tree right over your pipes. Edit: I'm not going to tell you what your bullshit tolerance should be for HOA poo poo. Some people are fine with them, others can't stand them. But I will say that if they're detailed enough to be mandating poo poo like a tree in a specific part of the yard you should give that document a REALLY close read before signing anything and make sure that you understand and are OK with their demands. Remember: right now worst case you're out your earnest money. You have the potential for being stuck holding a much larger bag.
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Oct 4, 2020 01:19
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Speleothing posted:Definitely a flipper or a landlord. Tell them to get bent and sell to a resident. depends a lot on the market. Some areas are just that hot that sellers will get people wanting to look before the photos are up.
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Oct 8, 2020 00:12
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GoGoGadgetChris posted:And emotional attachment is irrelevant. Emotional influence on financial decision making, is bad. See the stock picking thread for examples Sure, but tooooooons of people make bad financial decisions based on tummy and heart feels. I can't count the number of people I've talked to who refuse to invest in stocks that they consider immoral, be it tobacco or guns or oil or VW or whatnot. I'm not saying they're right or they're wrong. It's their money to do with as they please. But they exist and maybe I just know a lot of bleeding hearts or maybe they're just a lot more vocal, but from my anecdotal experience they don't seem to be all that uncommon. It's a letter. Anyone here could bang out a couple paragraphs about how much they love the neighborhood and they want to grow old and die there and see their kids got to <copy/paste name of nearest elementary school>. Does the realtor put it in the trash for liability reasons? Maybe. Do the buyers laugh at it and say gimme more money? Probably. But then again maybe you get lucky it helps you edge out another offer. At the end of the day I don't think it's going to be important beyond edging out an equal offer. Most people are going to take the offer that has more money or the financing is more secure or they're waiving more poo poo or whatever else, but that's not what I'm seeing people talking about.
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Oct 8, 2020 18:59
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GoGoGadgetChris posted:I agree here as well, and again I really am not saying "writing a letter is bad". A claim was made that writing a letter is always the right choice and can do no harm, which is what I would contest. How is it going to hurt? Maybe there's an edge case where you get the goony neckbeard who scoffs at your trying to play on his emotions and dumpsters your offer in favor of the lesser offer that didn't try something so crass, but that's getting into "seatbelts might trap you in a burning car" territory. At the end of the day make your strongest offer and be in a position where no one questions your ability to get to closing. That's what's really going to do it. I don't see a letter hurting even if we can go around in circles about how effective it is as a tie breaker.
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Oct 8, 2020 19:23
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Also the sale falling through isn't that huge a deal if you're in Portland or DC or SF or some other white hot market where you can have a buyer before the pictures of the property post, but if you're in a more normal place it can mean extra months of your house sitting there without a buyer. Ernest money isn't just a gently caress you tax for backing out, it's also there to help the seller with the property taxes, upkeep, and other costs associated with your sale not happening. All that poo poo adds up if the buyer failing to get financing means that the house is on the market for another six months. Again, in normal markets where not selling means a delay while you find another buyer.
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Oct 9, 2020 16:27
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punk rebel ecks posted:Really stupid question but when I negotiate a house price is it more likely to go down from the asking price or up? In wondering if things typically work out more like buying a used car or an auction house. Depends on the market. If you're buying a farmhouse in an Iowa cornfield two hours from the nearest anything you can probably offer under the posted price and maybe get it. If you're buying a family home in a desirable neighborhood in Portland the asking price is pretty much the starting point and you're going to be competing with other offers and the real question is how high above asking the winner went.
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Oct 9, 2020 16:30
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Andy Dufresne posted:My #1 complaint about the thread is that a lot of people use it to soapbox or act smart without offering any practical advice. I'm not saying that to pick a fight, but this thread features real people seeking real advice and blanket statements end up pretty useless and ignored. My major take away from reading this thread as a non homeowner who had fantasies of maybe being able to be one someday is that you need to walk in with clear, open eyes and know what the gently caress you’re getting. HOA? Maybe you’re OK with a lovely one based on commute etc. but make that a conscious decision not a surprise six months after moving in. House has some kind of hosed up problem because the builder cut so many corners your living room is a mathematically perfect sphere? Horrible to discover after you own it, but if it’s good otherwise and you make the conscious decision to pull the trigger that’s your call. For all I know your sphere living room is a five minute walk from your office or in an amazing school district or something. The key is to know what you’re doing and make the affirmative choice to buy what you get, not stumble into a lovely purchase because you’re target fixated on GOTTA BUY HOUSE RENT BAD. Again, not a home owner, just a goon reading this thread and fantasizing about maybe having a lawn some day. But no HOA. Because gently caress that.
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Oct 13, 2020 15:14
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ntan1 posted:
That’s a huge assumption. I’ve seen plenty of places where HOAs are the default for neighborhoods full of SFHs.
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Oct 13, 2020 18:33
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Motronic posted:Unless you live in some of the places people claim are entirely HOA. I've yet to see such a place, and would choose to live elsewhere if that is an actual thing. Its' not that it's all HOAs as far as the eye can see, but non-HOA neighborhoods tend to be older, with the housing built in the 50s (or earlier, but I'm mostly talking about post-war expansion suburbs here). AKA closer in to the city, and much more expensive as a result. It can get hard to say "no HOA" as a ride or die thing when broadly similar 2000sqft homes cost $600k+ in the old, established, non-HOA neighborhood and $300k in the newer construction with an HOA. It's not that non-HOA homes are entirely theoretical, it's that in a lot of markets the homes that first time buyers can actually afford are out in the areas where expansion happened into unincorporated land, which is one of the major determiners for ending up with an HOA. Because . . . Motronic posted:Do you know how property maintenance standards, road and utility maintenance and common amenities are handled outside of an HOA? A functioning municipal government. Which is a thing with oversight, disclosure requirements, and well known administrative and procedural remedies. In those areas that doesn't exist. If your'e in unincorporated land you're stuck with the county for maintenance and frequently, yeah, if you want your roads plowed and paved you're going to have to do it yourself. poo poo, even sewer and water. Of course if that expansion happened 20 years ago you could very well be in the worst of all worlds situation: the area the HOA is in got incorporated sometime since then, but the HOA now exists, so you're effectively under both at once. Note that I'm not saying any of this as someone who likes an HOA. I am saying it as someone for whom "I don't want an HOA" has been a major impediment for finding a house of my own, however.
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Oct 13, 2020 19:25
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Mr. Crow posted:https://www.calculator.net/mortgage...08&y=22#results If you're going to plan on selling in 5 years you also need to factor in the transaction costs on the back end into that. As the seller you're on the hook for a lot of the commissions. I don't know how that changes your over-all math, though. Honestly if you're selling in 5 years you're usually better off renting, at least from what I recall the last time I looked at buying and did the math. IIRC the break even on ownership assuming identical total costs (so insurance+rent/mortgage+any taxes = same) was something like six years, assuming no change in the value of the house. It's been a while since I did that math out though, so I might be wrong given the current market etc.
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Oct 17, 2020 20:49
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joepinetree posted:Savings accounts were indexed to inflation ( which is part of what kept inflation going). Anything that you would buy, you'd buy the day you were paid (I couldn't go to the supermarket because my parents needed every bit of space in the car to buy groceries for the whole month), and you'd never forget the day of the month your savings account would accrue interest and inflation indexing. poo poo it would make a great thread of its own. Probably in A/T
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Oct 22, 2020 13:07
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You’re supposed to update your address with everyone anyways. Forwarding is just a bandaid while you get that poo poo straightened out and to catch oddballs like your great aunt using the place you had 8 months ago because she never got the update on you moving.
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Oct 28, 2020 17:55
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Andy Dufresne posted:Owning a home is like being a project manager. In the software world at least you'll never extinguish the list, you just constantly add to it and reprioritize. I roll my eyes sometimes at people who freak out about what inspections find; houses are typically never in better shape than when they are being sold. Still, if you can buy a house from a retired but still active guy who fixes everything the day it breaks that is best. Well, the point about knowing what is a big deal and what isn't is important. If I had an inspector tell me the roof of a house I was eyeballing was one spring rain away from falling into the living room I'd worry a bit more than, say, the one that noted "leaves on the roof"
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Oct 30, 2020 01:59
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Motronic posted:Which the overwhelming majority of people buying one, even when that thing is the most expensive thing they'll ever own, have no loving clue about what matters, how to maintain them, how their mortgage works, how their taxes work, or where to even find the cleanout for the poo poo pipes. Or what to do with that if they could. People should educate themselves about what is probably the largest single purchase in their lives, yes. That said, you don't have to be the sort of person who can personally re-wire the bedroom on weekend and install a new hot water heater the next. If you've got a decent home inspector who doesn't have a stake in the sale (i.e. isn't your realtor's guy or, worse, the seller's) you should be able to get them to sit you down and tell you what the big, show stopper poo poo is, what the "you need to fix this in the next year" poo poo is, and what the ticky tacky bullshit is. Don't get me wrong, I think everyone should take the time to learn the basics of how to take care of their poo poo, but if you don't have that experience all ready there are generally people you can hire to get you through the immediate need.
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Oct 30, 2020 15:09
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H110Hawk posted:The trick is to live in a low crime suburb. I had no idea either! I called the non-emergency line and said that the city website said to call to report it. Immediately clicked over to dispatch and 3 minutes later a cruiser and a motorcycle were in front of my house. My understanding (from a string of break ins at an old condo complex) is that (fake) door to door solicitation is a common enough cover for casing houses that they like to talk to people ignoring the do not solicit signs. Basically the legit people will skip those houses, while the people ringing doorbells to take a peek at what kind of TV is in the living room don’t give a gently caress.
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Nov 16, 2020 20:38
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We've been looking for a while (hence me reading this thread) and as much as it sucks to hear Motronic is right on this one. I was really keen to just grab the dumpiest cheap pile of falling down poo poo I could and try and fix it, but once we started pricing poo poo out we realized all we were really doing was kicking the can on some of the expenses, living in a shitheap until we could fix it up, and maybe paying more in the long run. In my head I was thinking $300k house (numbers just for conversation) plus $100k in upgrades and end up with the same house you could just pay $400k for only you've spread the costs out. The realities were more like $300k house plus $150k in upgrades to get that $400k house and oh hey financing those upgrades is way more of a pain in the balls than just financing a move in ready house. I'm realistic enough about my handyman skills to know that I can do poo poo like re-grout a tub but I'm not doing a full rip-out and install of a new bathroom on my own. What really hammered it home to me was when I spoke with a realtor and he explained that all those contractor flips I was so annoyed at (the ones where the dump gets bought for $300k and ends up on the market for $400k three months later) were never going to be beaten by me getting the work done for the simple reason that those guys could do a ton of poo poo at cost and take their profit out of the sales price. There's just no way I'm beating a contractor who flips houses on price. Now, what you can may be do is make sure that you want exactly the poo poo you want in there. No contractor grade sink in the second bathroom etc. Pick exactly the kitchen layout you want rather than getting the one that's most likely to appeal to the average buyer this year. That's all kind of rambling, but the long and the short is that this is something we've been looking at for a while and the answer was to keep renting for now, sock away as much money as possible to have a good down payment when we find something we like, and find a house we can afford that's more or less move in ready even if we're not enamored with the bathroom or kitchen or whatever. Once we're in, then live there for a few years and make improvements as we can afford it, but when we end up signing on the dotted line actually own a home, not a project.
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Nov 21, 2020 00:48
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Something else to keep in mind about all this is that after 2008 the feds made some big changes to try and prevent another foreclosure crisis. Mortgage forbearance is the biggie, but there's some other poo poo there as well. Basically if you lost your job due to covid and own a house you're in a much, much better place than a renter right now. Mortgage forbearance gets tacked onto the end of the mortgage. That sucks because you're slowing down your repayment, but when the forbearance ends you just get your normal mortgage back again. Meanwhile, renters who can't pay accumulate debt to their landlord. Unless the government decides to forgive (read: pay) that debt, which I think is highly unlikely, there are a lot of renters who are FUUUUUCKED. If you can't pay your rent for four months and it all comes due in the fifth, that is the sort of huge lump sum payment that even financially secure people might not be able to make, much less someone who couldn't pay the rent last month. While it's good that people aren't having their houses foreclosed on, from the perspective of a buyer it's a double edged sword. If you had the money to get into the market there were some good deals to be had in 2009-2010. I know more than one person who bought a house then. That wave of houses hitting the market all at once isn't going to happen this time, which means there won't be that downward pressure on the market.
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Nov 29, 2020 21:16
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Gabriel S. posted:
More or less. I mean, it wasn't "straight to" like if you missed one payment they were sending the sheriff with papers, but if you got behind on your payments it was what would happen sooner rather than later. Here's a CNN article from 2009 about how foreclosures were going through the roof quote:U.S. foreclosure filings spiked by more than 81% in 2008, a record, according to a report released Thursday, and they're up 225% compared with 2006.
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Nov 29, 2020 23:32
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Cyrano4747 posted:More or less. I mean, it wasn't "straight to" like if you missed one payment they were sending the sheriff with papers, but if you got behind on your payments it was what would happen sooner rather than later. To expand on this a little bit, here are two graphs I dug up: First off the forclosure activity from '05 - '19. The big loving bump due to the subprime crisis kinda stands out.  Now look at the current rates this year (note that the numbers basically line up - you're looking at a baseline of 40k at the end of the first graph and the beginning of the second).  Notice how the rates of foreclosure plummet in April? The CARES Act was signed into law on March 27, 2020, and that's what extended those pretty generous mortgage payment deferrals. The rate of foreclosure actually went DOWN due to COVID. More info here: https://www.consumerfinance.gov/coronavirus/mortgage-and-housing-assistance/mortgage-relief/ quote:
It really can't be emphasized enough how much of a big deal forbearance is for people with their incomes hosed by COVID and how much of an insanely better deal it is than eviction moratoriums for renters.
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Nov 29, 2020 23:49
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Gabriel S. posted:Many of the relief measures don't expire until the end of this year. Not to mention, some industries are doing incredibly well like technology. What are you going to do with all that extra income especially when interest rates are super low? It's not like people can spend time doing stuff unless it's indoors with small group of friends or family. In addition to this there are huge disparities by income as far as who is most affected. I forget the exact number but whatever article I read a few weeks ago (great citation I know - it was probably the economist) said that people who we’re making over $75k before all this went down ended up coming out ahead financially, mostly due to WFH killing commute costs and not being able to spend money on vacations and entertainment. Meanwhile people making less on average, hurting. It scales in both directions - someone drawing $250k is in great shape even compared to their pre COVID finances and someone making $20 is probably FUUUUUUUCKED. The tldr of it is that in the US the majority of lower paid jobs are in the service or retail sectors and those are the ones with the double whammy of no real WFH options and customers who don’t want to come in as much for fear of getting sick. That’s the “k shaped recovery” that you’ll find every talking head mentioning if you’re following reporting on it. Google that and you’ll find smarter people than me laying out actual numbers (as well as the typical click bait bullshit of course) Edit: which means that the very people most likely to be in a position to buy a house are also the most likely to be unaffected by this poo poo. There are exceptions of course, but on the scale of population- wide generalities and buying trends it mostly holds true.
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Nov 30, 2020 14:42
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This is turning from a derail into a dumb argument that isn't really about home-buying any more. I try not to mod in places that aren't mine to do so, but Moneyball isn't around right now (I believe he's taking a break with Thanksgiving and all) and I'm pretty sure he wouldn't have a problem with me giving you all a polite "move on." So do that. Move on and talk about home prices or something not arguments about macroeconomics and the relationship between Mainstreet and Wall Street.
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Nov 30, 2020 18:17
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> Business, Finance, and Careers > House-buying thread - The front end of the financial Mammon which greases the entire edifice.
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Dec 1, 2020 00:51
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Gabriel S. posted:Getting back on topic has anyone ever lived in a studio or even something smaller like a Micro-Apartment? I'm talking about less than 600 Square Feet but usually around 200-400sqft. They're affordable, in dense urban areas and it's been described to me kind of like living in a yacht. The ones I've been looking at are pretty well designed with custom hidden closets, high-end appliances, etc. Back in grad school I lived in a 1 BR that was about that big. It had a bedroom in the back and a small "living room" attached to a galley kitchen. In a normal apartment that would have been the kitchen and dining nook but, well, college town. I want to say it was ~500sqft but it's been a long time. No where near as small as 200 though, that's jail cell territory. It wasn't bad as a single guy who could fit all of his belongings in the back of a car. The bedroom was big enough to throw a mattress in, the "living area" was big enough for a computer desk, chair, and a stack of books, and the kitchen was basic as poo poo but sufficed for making hamburger helper. As a 20-something who was happy to spend most of his life either in a classroom, library, or bar and just needed a place to crash for a few hours a night and surf forums now and again it was fine. I have fond memories of that time in my life, but that has more to do with being in my mid-20s and spending half of my life in bars with interesting people. As a dude in his late 30s? I can't loving imagine doing that. Hell, even back then I leapt at the opportunity to pool resources with my girlfriend and move into a normal 2BR apartment.
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Dec 1, 2020 03:21
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redbrouw posted:Feeling very calm about the offer day tomorrow. Wish I could have had a professional look at the foundation first, but everything else looked fine. calm_homebuyer.jpg congrats
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Dec 1, 2020 21:50
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Something to keep in mind is that you're never going to get the same work done as cheap as a contractor who is flipping. It sticks in the craw to buy a house for 30% more than it sold for three months ago, but as long as you like the work that was done it's still going to be cheaper than buying a fixer upper and hiring the work out yourself. Now, this is also assuming that the flipper is a professional doing halfway decent work and not someone who watches too much HGTV and decided to try their hand at putting in bathroom tile for the first time on their flip.
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Dec 22, 2020 15:14
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Bucnasti posted:Appraisals sound like so many other safety net fields: ntan1 posted:Except that happens regardless of the existence of an appraiser The appraiser isn’t there to keep you from going bankrupt, they’re there to keep the lender from going bankrupt. As a buyer there is a lot of hand wringing over what the property is worth because of taxes and equity etc. but all the bank gives a gently caress about is that the value of the loan is less than the value of the collateral they can take if you don’t pay them back. This is why an appraisal coming in below the offer doesn’t tank the sale it just requires the buyer to pony up the extra cash , i.e. cover the excess risk. Loans going against property worth less than the loan is all A Problem for the bank because of a lot of loans turn out to be worth far more than the underlying asset then they are in Deep Trouble. Loaning too much to lenders more at risk of default and then for closing on those assets into a price crash is pretty much 2008.txt.
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Jan 5, 2021 18:35
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Throatwarbler posted:I mean admittedly people would likely have less of a problem with this system if banks in America were actually private enterprises risking their own capital on the open market and not just a bunch of corrupt SOEs Sure but that doesn’t change any of what an appraisal is for. It sucks that banks can apparently never fail and that taxpayers rather than investors end up on the hook if they poo poo the bed hard enough, but even then if anything you have an increased public interest in not giving a poo poo ton of bad loans against over valued assets.
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Jan 5, 2021 18:51
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Gaming the appraisal high doesn't even really help them, because when they inevitably have x% of loans that default and they end up foreclosing they're stuck with an asset that they won't be able to liquidate for the amount that they loaned. They're not just doing YOUR loan, they're doing thousands of loans. Some of them are going to go bad, and when that happens they need to know that the poo poo backing the loan isn't just a sad sack of wet poo poo. That's the whole point of this exercise. The bank just wants to know that at the end of the day they'll get their money. That's all they care about. They want their loving money. This is your bank, and this is what they want:  They really don't care about anything beyond making sure that if the bills stop being paid they've actually got something to go after to recoup what they gave you. To further torture this movie analogy the appraiser's job is to make sure that your potential house is really a rich dude in a wheelchair who they can squeeze for cash and not a stoner with a rug that really ties the room together.
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Jan 5, 2021 22:04
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Epitope posted:What's with making the thread icons the same? The house threads are hard enough to tell apart as is. Sorry for griping, mods are good and cool Houses are boxes. McMansions are ugly boxes. I got a brief chuckle out of looking at the icon. That's about as far as it got. I'll change it.
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Jan 27, 2021 03:56
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I'm going to vacate those probations. I don't want to drag Dik Hz on this because ultimately it's a situation I've been in myself. Trying to balance being a poster who has opinions vs. being a mod who needs to keep conversations functional can be hard, and it's really easy to end up in a situation where it looks like you're probating someone for disagreeing with you. Whether he intended to or not, that's where Dik ended up. Generally I recommend that when there's something like that going on people hand off mod duties to another mod or IK, although that's not always possible. The post that got the mod sass probation was a bit tactless in pointing it out, but I'm lumping it in with everything else and just giving out a bunch of mulligans on this. I want to be clear that I don't think Dik's a bad IK. The IK team here in BFC has been doing a really great job in general during Moneyball's sabbatical. I've been keeping an eye on the place for him and on the whole there hasn't been much for me to do. For the record I'm reading this thread and if you all want to argue about appraisals for a little bit feel free to. For better or worse the topic is back and it was re-opened. I have my own opinions - which you can probably find if you search my post history in the last few pages - but I'll hold off so you all can go at it without having to argue with the person doing the modding. Be your usual polite-ish BFC selves and it will be fine. If it gets dumb or drags out too long I'll tell you all to move on, and that's fine too. Dik's welcome to dive in if he wants to as well. Or, move on to another topic. It's all the same to me.
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Jan 28, 2021 18:49
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| # ¿ May 2, 2024 14:07 |
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Like everything else, rentback is going to be highly dependent on your individual situation and how you assess the risk. My sister bought a house a few months before the end of the year. The seller 100% needed a 60 day rentback due to reasons of their own. Could they have just put their poo poo in storage and lived in a hotel? Sure, but they were really loving covid-averse and wanted to stay where they were until their poo poo could be moved to the new place. It was a single guy, professional, well kept house. She came in lower than other offers and offered the rent-back so she got it. In the end she figured that the chances of him stealing the copper from the walls or hosting a rave there on the last day were low. Are there horror stories? Absolutely. But like everything else involved in home buying it's going to come down to looking at your own individual circumstances, looking at the circumstances of the other party, and making a decision based on how you assess the risk. This thread is very risk adverse but that's a good thing because it drills into anyone who reads it that they need to look for that risk. There's a HUGE difference between evaluating the risk and making a decision based on that and just jumping in because you think waving all contingencies and allowing a 180 day rentback is just how it's done because your realtor is blowing smoke up your rear end.
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Jan 30, 2021 17:23
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