BillsFan Trapped in Pats Land Posted April 22, 2005 Share Posted April 22, 2005 A home inspection won't show everything. We had a mold/rot issue that wasn't picked up until 18 months later during a window/door replacement. Luckily, insurance covered 60% of the expense. Link to comment Share on other sites More sharing options...
Buckeye Eric Posted April 22, 2005 Share Posted April 22, 2005 Make sure to get a Radon test done and include any mitigation costs covered by the seller in your contract. Link to comment Share on other sites More sharing options...
rockpile Posted April 22, 2005 Share Posted April 22, 2005 I believe they'll be in control. I met with the wife the other day. She explained the new lots that were being cleared for houses, but mainly talked about school. My wife is a 3rd grade teacher, so they were discussing that test i was talking about. We're not lowballing them in any means. It's just the initial offer that will get tinkered with slightly and signed unless someone else comes into the picture. 312281[/snapback] PLEASE tell you wrote that it was subject to your attorney's approval before you signed. Link to comment Share on other sites More sharing options...
Corp000085 Posted April 22, 2005 Author Share Posted April 22, 2005 PLEASE tell you wrote that it was subject to your attorney's approval before you signed. 312853[/snapback] Yes. I have sufficiently covered my butt with the offer. I'm just in a holding pattern now to either receive good news, no news, or a counter offer. I hate doing crap on a friday! Link to comment Share on other sites More sharing options...
Corp000085 Posted April 23, 2005 Author Share Posted April 23, 2005 bad time to update my house thread, but here we go. Market value = $98,000 Their listing price = $110000 their 2002 purchase price = $90000 My initial offer = $100000, they pay $3000 for closing, we get $3000 for carpet allowance. Their counter offer = $108500, $3000 closing, $2000 carpet My FINAL offer = $105000, 2000 carpet, 3000 closing. According to everyone involved, they're either not willing to sell, or in denial. I should have included in the counter offer that they would be forced to use the contract as toilet paper. Ok, i';ll be looking to see if they accept in a couple of hours. Link to comment Share on other sites More sharing options...
Albany,n.y. Posted April 23, 2005 Share Posted April 23, 2005 Wow, real estate appreciation is a lot slower down there. My neighborhood is up about 50% since 2002. I hope the sellers realize that the house won't appraise higher than market, so unless the buyer has a large down payment, the bank won't approve the loan & they'll never be able to sell it until they come down. Link to comment Share on other sites More sharing options...
Nanker Posted April 23, 2005 Share Posted April 23, 2005 Stick to your guns. They're sweating too. As far as being nervous about a new house - don't worry. That too will go away after you and momma go around and bless every room. Link to comment Share on other sites More sharing options...
ChicagoRic Posted April 23, 2005 Share Posted April 23, 2005 Relax. If you FEEL that this is the right house, then there is nothing wrong with moving quickly. I bought mine two months ago, and the time from being shown the house to having my offer accepted was just under 48 hours. I have no regrets. By moving fast I was able to complete my deal before the home even officially hit the market. Sometimes you just know. Regards, Eric C ChicagoRic Link to comment Share on other sites More sharing options...
Corp000085 Posted April 24, 2005 Author Share Posted April 24, 2005 After some thought about my emotions, and the reality that the house WILL NOT(!!!!) sell to anyone not paying straight up cash, i'm fairly confident that they'll either accept my offer after some weekend discussion, or they'll reject it and i'll submit another offer in a month if we haven't found something else before then. Their loss, not mine. Link to comment Share on other sites More sharing options...
Corp000085 Posted April 26, 2005 Author Share Posted April 26, 2005 New house, new bid... Our buyer agent is also the seller agent for the people, who just happen to be a teacher at our school. We have a personal relationship with them. Anyways, we're financially prepared to take on the full listed price and full closing cost if need be, however it won't come to that. Things are looking good though. The only added cost was that i had to hire an attorney to look ouit for me, since this is a dual agent situation. Bid is obviously contingent on inspection. I'll know by tomorrow morning.+ EDIT: Ok, their counteroffer was a lower house price but we pay all closing costs. Works out that they make their original asking price for the house, and for us that our mortgage payment will be a lot lower than it originally would have been. There is only one downfall though. We were both planning on going back to college, so we might have to put that off a semseter. I'd also have to get a summer job because i'm on a 10 month pay scale. So, we're basically short some coin for the next couple of months, but it will be all good... (and so i don't get 3000 threads regarding spending all my savings on the down payment, hear me out... we've still got plenty of savings left for a cushion, just not enough to go to the beach every weekend this summer.) Wish me luck Link to comment Share on other sites More sharing options...
Corp000085 Posted April 27, 2005 Author Share Posted April 27, 2005 We're closing june 3rd... can't wait. Thanks for the advice everyone! Link to comment Share on other sites More sharing options...
Fan in San Diego Posted April 27, 2005 Share Posted April 27, 2005 We're closing june 3rd... can't wait. Thanks for the advice everyone! 320223[/snapback] That first deal is the hardest. They all get easier after this. I am on deal number xxx and they hardly even raise my pulse any more. Link to comment Share on other sites More sharing options...
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