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So how bad are foundation issues? Near every house I've looked at in the Dallas area has had cracks above window/door frames or worse. It's reasonable not to want to buy a house that immediately needs foundation work right?
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May 23, 2014 05:20
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| # ¿ May 14, 2024 21:03 |
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So I'm trying to buy a house in Dfw and the market is insane. There's a house I like at 130k, and I've put in an offer for 137k + title fees. My realtor suggests considering upping it to 142k but I don't want to put in so much that I can't sell it again down the road if/when the market cools down. I'm not even sure it will appraise for that much, the comps I've seen put it at less than 140k. I just don't know what to do. Someone give me sage advice. 
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Jun 11, 2014 22:53
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Well the seller went with another offer. I'm told the one they went with only had a higher down payment which makes me think they're worried it won't appraise for what was offered and that the down payment will take up the difference. Is there any other reason a larger down payment is preferred?
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Jun 15, 2014 04:57
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That house owns so hard I don't even care if I have to share it with the Addams family.
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Sep 7, 2014 00:37
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As I understand it, a Realtor is always bound to represent the sellers best interest. They are the ones paying them after all.
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Sep 9, 2014 23:56
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You should receive a packet in the next few business days regarding the selling of your mortgage and who to make payments to. If you can't wait, I would say to make your payment to your original mortgage company. Even if it's the wrong company, they will know to forward it to the right company. It could take a week or more for that to happen though. Even if it does take several weeks, the payment will still have the effective date of when it was originally received by your original company. So if it was received by the original company on October 1st but it takes them to November 1st to pass the payment on to the new company, when it's finally processed it will reverse and update all the accounting entries as if it was received by the new company on October 1st. To cover your own rear end, make a copy of the check front AND back after completely filling it out and send it certified mail so that the company has to sign for it to ensure receipt. It will cost a few bucks but if something goes wrong it will save you hundreds (or more) and a lot of time. After you receive the new information on who to make your payments to officially, just make the payments as normal and you should be fine. To give you an idea of my background, I worked at a leading mortgage servicer for years and almost a year of that was in collections. If you have to call them up and say you sent the payment but don't have any proof then they are just going to assume you're another rear end in a top hat trying to stall foreclosure and/or get a free payment made. That doesn't happen by the way. You'll also get several calls per day every day while you wait for each side to get their poo poo together, which in a worst case scenario, I've seen take months. edit: and calling your original company to verify what I just told you is also a good idea. SpartanIvy fucked around with this message at 22:52 on Sep 26, 2014 |
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Sep 26, 2014 22:49
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When I worked on the phones at a mortgage company I one time talked to someone with a 14% rate and a $10,000 monthly payment. I was just  the whole time. The hilarious part was he wasn't even behind on his mortgage, he was just calling for tax information.
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Dec 23, 2014 05:29
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One of my old coworkers cosigned for a vehicle with his girlfriend at the time and even though it's been like 6 years since, it continues to ruin his financial life. She refused to make payments on it after they split and she kept it, she then totaled it and demanded he take care of all the issues with that, and then she and her new boyfriend sued him for selling the scrap from the wreck. Do Never Cosign
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Jan 30, 2015 18:32
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I've known people who spend 3/4 of their take home on rent/mortgage. They're insane but they think it's normal and we're probably both right. It's basically what led to the mortgage crisis but no one's learned anything.
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Feb 8, 2015 01:18
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Where in Texas do you live with a basement? I have lived here 26 years and never seen a house with a basement.
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Feb 28, 2015 05:03
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Thesaurus posted:Uh oh, I guess I've fallen right into her trap! Quoting this for the future e/n thread
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Mar 16, 2015 19:05
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Andy Dufresne posted:My mortgage company hasn't cashed my first payment check that was sent 2 weeks ago and due 1 week ago Call them. If they call you it probably won't be until it's in collections.
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May 6, 2015 18:52
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So did you buy the house without inspecting it....or?
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May 14, 2015 17:46
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Citizen Tayne posted:I saw an article in the WSJ a few weeks back about a company called Broadtree that uses software in the Atlanta market to assess properties by comparables, age, area, etc to make offers on properties within 5-6 minutes of them showing up on electronic realty listings. They disappear before home buyers would ever see them, expressly to be put on the rental market. The market is only going to get shittier for homebuyers everywhere as software-controlled purchasing or arbitrage becomes the norm. This sounds like it would be easy as hell to game as a seller.
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Jun 2, 2015 17:40
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Offer to sell him your unit?
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Jun 16, 2015 17:07
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At the mortgage company I used to work for, we had a borrower who lost her million dollar home to her Hoa because of $300 of missing Hoa payments. They took actual legal possession of it and neither the borrower or our company could do anything about it.
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Jun 18, 2015 18:55
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Ropes4u posted:Quick question - if all things were the same would you rather buy a new house or 1950s house? I would go with 1950's without a second thought, but I'm like minivanmegafun and love old poo poo that is now considered tacky.
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Jul 8, 2015 15:42
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Sure it wasn't an egg that fell from a nest or something? If it was a single chicken egg it is probably just some kid who snuck one out of the fridge to be a rebel without mom noticing. A racist would probably do something more serious like key the car or use a significant amount of eggs. I wouldn't worry too much unless it keeps happening.
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Jul 20, 2015 19:35
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Here's a good Do Never Buy story. I currently rent a condo from another man. I am his first tenant since purchasing this condo last year. Some back story: When I originally was looking to rent this place, I called and checked with the various cable companies and ATT, Charter, and TWC all said they served this address. On top of that, it's within a city which is known for having FIOS. So I called up TWC and had them transfer my service, setup an installation date and everything. Well a week after signing the lease they came back and said that lol no we don't actually service that address, try X provider. I called every cable provider in town and not a single one provides anything beyond basic cable to this entire condo complex. Verizon only offered 1.5Mbps DSL. That or Dial Up were my only land line options so I went with the DSL instead of cancelling my lease and losing a lot of money. Fast forward through a year of suffering and I'm set to move out at the end of this month. I gave my notice to my landlord months ago telling him very explicitly that the internet is garbage and that's why i'm moving. My landlord decides he is going to move into this place and rent out the house he's staying in now. So he starts shopping around for internet, and is finding exactly what I told him to be true, nobody offers anything here except Verizon. Except its even worse now. Verizon is apparently shutting down their DSL service as people cancel. So after I cancel my contract, he won't be able to get ANY land line "high speed" internet here. He wants me to do a transfer of ownership thing with my existing Verizon DSL account, but if I do that then I have to cancel my FIOS installation at my new place, and setup another one. I'll lose my installation window, and because the installation workers were on strike until very recently, it could take me weeks to get another installation scheduled. Needless to say, gently caress that. So now my landlord has realized he is stuck with a condo he bought a year ago as an investment and it only has dial up, satellite, or 4G as internet options. He owns one of 96 condos in the entire city that doesn't have FIOS or cable internet. Good luck renting or selling that to someone without flat out lying to them. Do Never Buy
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Aug 26, 2015 03:52
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-S- posted:Here's one about why you always, always, always pay the $500 for a thorough inspection: Let me guess, it sold a week later?
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Feb 24, 2016 20:54
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One of my friends told me her boyfriend (Also my friend) and her bought a house last weekend. They looked at it and then were told to make an offer because the owners had already received one. She didn't really know any important details as he's handling everything but she did say they "waived contingencies" with their offer. 
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Mar 22, 2016 16:16
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Nah, we're in the Dallas/Fort Worth area. I shopped around on houses a year or two ago and it was tough, but it wasn't that insane. I really hope this bubble bursts in the next few years.
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Mar 28, 2016 20:20
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I had a friend who bought a house many years ago and when he moved in, he found out the previous owner had taken not only all the appliances, but also the venthood, light fixtures, and light bulbs.
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Apr 18, 2016 17:47
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Speaking of waived contingencies and bad decisions, my friend, who just bought a house by waiving all contingencies, also let the seller live in it and rent it from him for a few weeks because he wasn't ready to move yet. However, for some reason my friend rented it to the guy for less than the monthly mortgage payment cost, and when the seller moved out, he of course left the place trashed. So much so that my friend had to hire a professional cleaning service. It's like he's purposefully doing everything wrong.
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May 4, 2016 20:04
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People are by and large huge loving morons and are under the impression that realtors are there to help them. They follow their advice because they're viewed as the experts and unless you spend a significant portion of your time discussing it with other people online, you wouldn't know otherwise. If you try googling anything related to real estate, your results are filled with articles written by realtors and lenders reaffirming what the realtor said in the first place. Do Never Trust Anyone
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May 4, 2016 23:11
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My old landlord said he'd had tenants tear down parts of walls to make moving in easier. People are loving awful.
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Jun 12, 2016 17:34
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Andy Dufresne posted:unless the inspection comes back perfect. In which case find a new inspector or run away from the house
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Jun 14, 2016 17:52
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enraged_camel posted:Hopefully it will depress prices... I think it will be the opposite. Less people willing to sell because they can't get a new mortgage with as low an interest rate. So with a smaller pool of homes on the market the prices will rise.
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Feb 3, 2018 05:37
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I'm praying it's not DFW or I'm never going to own a home.
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Feb 4, 2018 00:06
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It's funny how nobody really wants Amazon HQ in their city but city officials everywhere are tripping over themselves to give Bezos a blowjob and a blank check of tax incentives.
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Feb 4, 2018 17:01
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I've also wondered if the potential for Amazon HQ2 to be in certain cities has preemptively driven up demand for housing in those cities, and that after the city for the second HQ is announced, if you don't see a drop in demand in the cities that were not selected.
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Feb 4, 2018 17:15
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Jesus that guy sounds psychotic. I bet his family is having a great time living around him right now. Why the gently caress would you buy a house from the 1920s without testing it for asbestos if you're deathly afraid of asbestos? E: can't wait for the follow up thread: "Asbestos ruined my marriage"
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Feb 12, 2018 19:27
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I'm not knowledgeable about this but I imagine any pipes that old have already leached most/all the lead out of the solder, and/or that there's enough mineral build up in the pipes that it's not an issue.
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Feb 19, 2018 20:56
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"I couldn't be there for the car inspection so I let the car salesman handle it" Expect a great report!
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Mar 13, 2018 00:50
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Some of those cracks look pretty serious to me. I'm no expert or anything but I would be pissed about that stuff to. It looks like they did a poo poo job all around.
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Mar 19, 2018 18:59
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The correct method is to buy more than you need. Stick the extras in your garage. Wait a few decades. Die. Have stuff sold off at your estate sale.
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Apr 17, 2018 20:55
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Every drat house I look at has just the most atrocious work done on it. I wouldn't mind buying a flipped house if they didn't just absolutely cheap out on every possible part to the most extreme. I looked at a house today that's in a good spot, lots of good upgrades from a previous owner (electrical, insulation, detached garage/workshop), but the last owner/flipper replaced the wood siding with the third cheapest vinyl siding that Home Depot sells, and they did a piss poor job installing it. The trim around the windows is especially bad. The house also has hardwood floors which are in decent shape considering their age, but in the bathroom and kitchen someone laid down tile. So instead of removing that tile, the flipper just laid a different pattern of tile on top of it. So now there is half an inch offset between certain areas. Also they only bothered to cover the 1/2" double-tile to wood edge between the living room and kitchen. Not anywhere else, so you can see the raggedy edge and old tile layer from the bedrooms. I mean it's all pretty paltry stuff I could fix, but I'd rather not pay for their poo poo included in the sale price, and then have to shell out to fix it myself again. Especially when the neighborhoods prices are at an all time high. e: I took pics The cheap vinyl siding (the cheapest color too!) https://imgur.com/nUF5Z1i Bedroom to hallway tile edge https://imgur.com/PijLbQG Great siding on the window https://imgur.com/x6iDQTr SpartanIvy fucked around with this message at 00:12 on Apr 21, 2018 |
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Apr 21, 2018 00:09
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I had a company ask me for that stuff too and I told them no simply because they wanted un-redacted copies of my bank transactions which is pretty drat personal information. To make it worse they also have in a disclosure I needed to sign that says they're free to sell any and all information I provide to them so I told them just to give me a standard pre-approval letter and they did with minimal push back, and I don't think I had to provide much info for it. When I actually need a loan then I'll provide my entire financial history to companies to sell to marketers, but not before.
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Apr 25, 2018 14:02
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Those problems are pretty minor compared to what I've seen in my area. The attic ducting should be a pretty straight forward fix I think. See if you can run the vent to the eave. That way you wouldn't have to worry about flashing and roof shingles and stuff. IANAE(lectrician) but I would think the breaker is a pretty straight forward fix too. Google and YouTube are your friend for finding out how much this stuff costs to fix and if it's a DIY job.
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Apr 25, 2018 17:21
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| # ¿ May 14, 2024 21:03 |
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Oh God my offer was accepted. What have I done 
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Apr 30, 2018 14:47
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