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I am in Virginia. We have an accepted offer on a house and close June 23. We already did all the addendums prior to signing the offer and getting it accepted, then the inspection, then the inspection addendums, and everything was signed by all parties May 24. The home is being sold by a relocation company acting on behalf of the owner. All forms were signed by the relo company, and we had to sign a big ol addendum and initial inspection report they had done back in April and submit it with our offer. All of that concluded just fine. Today we got an the email from the seller saying that prior to the relo company taking position from the owner tomorrow that we would have to sign a NEW form which reads as follows: quote:The undersigned (“Buyers”) desire to close on the purchase from Relocation Company (the “Seller”) of the residence at RESIDENCE (“Home”) and take possession of the Home after having been given the disclosures set forth on Relo Company's Inspection Disclosure Addendum (“Disclosure”) and having had the opportunity to complete their own inspection on the Home. And we have to turn this in by tomorrow morning. This smacks of bullshit because it is just something typed out on a MSDOC form. Furthermore we have a signed, accepted offer, and signed inspection addendums. All the real estate paperwork is done and we are just waiting to do the final walk through in late June and sign. So my thinking is to tell them tough titties because we had a done deal. Throwing something in like this is pretty much a poison pill, and not much different if they just slapped a post it note on my desk saying "Pay me lots of money/do something inane/let me key your car or the seller walks!" So if I tell them to get lost and they try to scuttle the deal, what recourse do I have? I placed an order for appliances which I could cancel pretty easily, but I don't want to lose my $4k earnest money if somehow they get away with bullshit like this in VA real estate. I am thinking I will edit this new addendum to read that they are free and clear of any secondary problems caused by the previous existence of mold in the house, but it seems like signing this thing as written would let the current occupants kick in the walls and poo poo and I would have no recourse during my final walk through. My wife is a RE agent here, but this is her first transaction in this state. She has done several in AZ, but we don't know all the kinks of VA law. We have already asked her brokerage for insight. Turnquiet fucked around with this message at 21:58 on Jun 2, 2014 |
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Jun 2, 2014 21:55
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| # ¿ May 15, 2024 10:02 |
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We checked around and ultimately told them to get bent since the transaction has already gone through ratification. This is just corporate BS from the relocation company's legal department that they wanted to have taken care of when they take possession of the property from the owner to complete the sale to us- something outside of our real estate transaction. We told them that the document as written leaves us with no recourse and the only way we would sign it is after the owner has vacated and we have done our final walkthrough. They can bluster all they want but they are over a barrel on this one. Them sending me a waiver of liability after mold remediation made me raise my eyebrows, but we have been inside, outside, and upside down the guts of this place. The "mold" spot in question was just a spot of fungus from a damp spot in the attic where their roof needed repair (and the repairs were done). They hit it with some treatment via a licensed mold remover and we have letters, seals, warranties and all sorts of poo poo from that company on that front.
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Jun 3, 2014 17:05
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This is like "Secrets of Power Negotiating" 101 stuff. Price higher than you want, accept lower than list while still getting yourself a touch more or at least what you originally wanted. You feel good because you got what you wanted (and maybe more), they feel good because they got a "deal." In my house purchase news we just had our official appraisal come in 25k higher than asking, which is to be expected. But the real good news is that a comp finally closed in the neighborhood, three doors down. Similar square footage, layout, amenities, everything. It sold for $60k more than the price of the house we are buying. Thank god the deal is finalized because if I were the seller I would be a bit peeved at this point. Once I do the pain, flooring, a few minor fixes, and drop in granite and stainless appliances I am pretty optimistic that I can shed PMI in record time- barring an economic catastrophe.
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Jun 6, 2014 15:42
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Every person is different and there is no magic formula, so trust your gut. If someone is irrational they are going to be pretty irrational at a reasonable price as well, let alone a lowball. For this house it stalled on the market at ~320k for four months. We got a huge packet of info detailing all the things the relo company found wrong with it, but no mention of remediation, so we offered 270. They clarified that some things were fixed, and we settled at 303. No one was butt hurt, fortunately. They then gave us additional cash concessions after our inspection, so I was pretty lucky to have someone who knew how to play ball. This is compared to a house down the street in the current neighborhood that languished for 6 months at 280k, then they got an agent and raise the price to 290k, and now they got a different agent and are at 285k. I suspect we are at the point where lots of bubble-buyers need to move for work but have a very hard floor in their sales price since things haven't gone back up to cloud-cookoo land prices of 2004-2006. That could explain some intransigence.
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Jun 6, 2014 16:25
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I closed on my house on Monday! Or course I had a series of work emergencies that lasted until late Friday that prevented me from getting in there to install new appliances and get prepping for paint, but today I spent a poo poo ton of time trying to get it up to speed. Met several neighbors, one of which helped me with an old dishwasher water line problem that was stalling me, so already, score! gently caress being anti-social, get to know and love your neighbors, they are in the best position of all to become your Default Friends when everything else shifts around.
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Jun 29, 2014 03:50
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Also do never buy because stainless appliances, granite, paint, and other sundries cost a metric gently caress ton. Not to mention the how much an assing removing wall-paper ahead of painting is.
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Jun 29, 2014 03:51
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I closed on my house in late July, and between work fires and business travel I have installed new appliances, granite, paint (ceiling flat, wall color, and trim color, kill me), removed a ton of wall paper, and have new carpet coming next week. Clearing out the backyard of all the random saplings and shrubs that the crazy PO put everywhere, and have the kids' jungle gym ready to go up once the yard is cleared. It sucks rear end, but I am pumped.
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Jul 20, 2014 00:50
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| # ¿ May 15, 2024 10:02 |
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I would like to thank the previous owner for using clear non-paintable caulk to seal some crown molding in my family room, and then proceeding to finger paint it all over the place 18 inches further down the wall. At least now I know that when I sell I should spell REDRUM in the master bedroom with the same stuff so I in turn can become the hated Previous Owner. And I would like to thank Zinsser Bin for being the only thing that contained that stuff after a day and half of trying everything.
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Aug 1, 2014 20:02
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