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110%er [7980]
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Selling my house and I'm starting to feel like Greenr
Mar 20, 2014, 9:31 AM
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Inspection came in and the buyers were ok with whatever was in it and we were moving forward. They are getting a USDA loan which apparently they do their own inspection to make sure they can liquidate the property should the buyers become deadbeats.
The appraiser wants the entire house rewired. . . . at an estimated cost of 3k. Granted its an old house, but the wiring has been updated since then. I had a Class A licensed contractor come in and take a look and he doesn't see any reason why it would need to be rewired. I believe the appraisal report mentioned something about how the wires are run in the attic, the contractor said sure the lines were run sloppy but that's not an issue. We are going to let them know we have a licensed contractor who says everything is A-OK and he will sign a letter and everything and see how this goes.
This is making me really hesitant to buy again.
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Heisman Winner [105525]
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dem feels...
Mar 20, 2014, 9:36 AM
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I'm going over the Buyer's estimates this morning.
$4300 in repairs (mostly cosmetic which is out of the contract scope). They want a $3500 price reduction. When you remove the crap, their HEAVILY bloated repair costs for actual things that need fixing are about $2,136. I'm getting my own estimates and should be able to get the work done for less than $1000-$1200. Problem is, the roof will need replacing in the next 5 years. I DO NOT want that to come up in a future inspection, so this deal needs to happen. Neighbor down the street selling house same as mine but with a garage. Inspection says needs new roof AND septic lines need raising...drops price $13,000 and she walks away from the house. Her situation is alot different, but I CANNOT do that. This is some stressful shiz.
Part 2, talking to builders about a new house, also talking to the bank, and nobody gets answers to us as fast as WifeofGreenr would like. I am in my own personal hell these days.
Part 3, three-year-old birthday party this weekend...FML.
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Oculus Spirit [75714]
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I think I'm going to have to hire somebody to come in and
Mar 20, 2014, 9:40 AM
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fix a silver dollar sized mark on my wall. I should be able to fix this myself, but I know me and the problem would get worse before it got better. Much like the fabled fire pit.
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All-In [40656]
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I put a hole the size of a baseball in an office
Mar 20, 2014, 9:41 AM
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door at a place I used to work at. A little (a whole tub) putty fixed that #### up until I left.
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Oculus Spirit [75714]
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This isn't even a hole like that. It is a bubble that
Mar 20, 2014, 9:45 AM
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came up in the paint and eventually that bubble got a hole in it. I guess I could chip out the rest of the paint, put a think layer of putty on, then paint, I just see it going poorly.
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Heisman Winner [105525]
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are you incapable of home repair? Easy fix.
Mar 20, 2014, 9:51 AM
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Gasoline + Matches + KY Jelly
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Oculus Spirit [75714]
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Stuff goes wrong, I get annoyed, then mad, and the
Mar 20, 2014, 9:55 AM
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problem gets worse. A great example of this was when I tried to fix an interior door. A seam separated and I tried to use glue and clamps to fix it. This did not go well.
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CU Guru [1321]
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Heisman Winner [105525]
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Astro-Glide works just as well but it doesn't taste as good
Mar 20, 2014, 10:52 AM
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on a sandwich.
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Heisman Winner [105525]
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Joined: 12/2/02
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Oculus Spirit [75714]
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cosmetic, they'd probably ask why it got there, which my
Mar 20, 2014, 9:46 AM
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cause issues. There is also a spot on the ceiling that needs fixed. I'll get this taken care of before I even had a Realtor come in.
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All-In [33418]
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Buyer can ask for anything they want
Mar 20, 2014, 10:02 AM
[ in reply to cosmetic...contract would not make you fix it.*** ] |
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Doesn't matter if it's cosmetic or a legitimate repair, during the due diligence period the buyer can walk for any reason.
Of course, just because they ask for it doesn't mean they will get it. It's a game of poker
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110%er [7980]
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also if its not in the contract they can't walk
Mar 20, 2014, 10:03 AM
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if they don't get it.
Of course 99.9% of people that fight to get the earnest money back, get it.
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All-In [33418]
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Don't they list the repairs they want as an addendum
Mar 20, 2014, 10:09 AM
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to the contract during due diligence? And if the seller doesn't agree they terminate?
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110%er [7980]
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Sure they could
Mar 20, 2014, 10:12 AM
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but if the contract read that cosmetic repairs are not included they would have to give a reason for walking that was not a cosmetic repair . . . which Im sure anyone could do.
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Heisman Winner [105525]
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the state of South Carolina contract states...
Mar 20, 2014, 10:15 AM
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(E) Repairs: The cost of all repairs to heating system, air conditioning, plumbing, and electrical system to be conveyed, and
to make the roof free of leaks, and the dwelling structurally sound and wood infestation treatment, if any, required by section
(D) above, to be paid by Seller. If the Seller refuses to make these repairs and treatment, the Buyer shall have the option to
(1) accept the property in its present condition, (2) negotiate with the Seller for the payment of these repairs and treatment, or
(3) terminate this Agreement, subject to paragraph 7. The repairs to any other items are the sole responsibility of Buyer. The
obligations of Seller under paragraph 19 terminate on the day of closing or on the day possession is given, whichever occurs
first.
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All-In [33418]
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Oh nevermind, I see what you are saying
Mar 20, 2014, 10:17 AM
[ in reply to Sure they could ] |
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I was referring to repairs that come up in an inspection, you can add those during due diligence since you weren't aware of it until the inspection.
But yea, you are supposed to list the cosmetic stuff before agreeing on the contract. But again, a buyer can walk for any reason during that due diligence period and get their earnest money back, so they can screw a seller by asking for a ransom during those 10-14 days
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110%er [8243]
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Heisman Winner [105525]
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Are you a realtor?***
Mar 20, 2014, 10:15 AM
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110%er [8243]
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No.***
Mar 20, 2014, 10:19 AM
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Heisman Winner [105525]
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Have you sold lots of property before?***
Mar 20, 2014, 10:21 AM
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110%er [8243]
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Yes. But practice is not what you need.
Mar 20, 2014, 10:26 AM
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Since you don't sell houses as often as I do, you need a very experienced professional helping you. Not a family friend that got her license in December.
I understand contracts fairly well, but if you don't, you need someone who knows how the wording can screw you and help you prevent that screwing.
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Heisman Winner [105525]
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Oh, I get that. You just seem rather knowledgeable on
Mar 20, 2014, 10:29 AM
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the subject, I thought maybe you were a Realtor (or developer). I can read a contract and understand the language fairly well, but if you do not know what the typical contract is (and we are using a standard Residential Sale Contract) then you don't have anything to compare it to. I don't think I am getting screwed...I just think the process is frustrating.
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110%er [8243]
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The process is always terribly frustrating because people
Mar 20, 2014, 10:35 AM
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are stupid and completely untrustworthy.
I just had a deal fall through because the purchaser's default. He wanted his earnest money back, and took me to court. I got all $9000 of earnest money, because both my Realtor and I thoroughly understood how the contract was going to work up front, before we entered into it.
But that shows you, even the possibility of losing a huge earnest money deposit isn't enough to prevent someone from being an idiot. $500 surely won't.
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All-In [33418]
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Based on my experience buying a home, if I was a realtor
Mar 20, 2014, 10:22 AM
[ in reply to If you have an absolutely horrible Realtor, yes. ] |
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selling a home I would just straight up lie and tell someone who sends in a contract that "We've received 2-3 other contracts, please send your highest and best offer" and then play hardball when they ask for repairs because "We can go back to the other contracts"
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110%er [8243]
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If that weren't against the law, it would be a great idea.
Mar 20, 2014, 10:28 AM
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Great way to lose your license and get sued into oblivion.
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All-In [33418]
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Just curious, but how would the buyer know?***
Mar 20, 2014, 10:51 AM
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110%er [8243]
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A smart, un-emotional buyer will back out. If it does not
Mar 20, 2014, 10:55 AM
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immediately go back under contract, they will know it was a lie.
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Heisman Winner [105525]
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Heisman Winner [105525]
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They will just lose the earnest money, but they will lose
Mar 20, 2014, 10:04 AM
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that.
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110%er [7980]
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who are you aero?***
Mar 20, 2014, 10:05 AM
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Heisman Winner [105525]
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*SoClose***
Mar 20, 2014, 10:06 AM
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Oculus Spirit [75714]
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Oculus Spirit [75714]
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I intend to take care of that and the minor baseboard
Mar 20, 2014, 10:04 AM
[ in reply to Buyer can ask for anything they want ] |
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separations and that will be it. Especially if I'm just selling to get out of the mortgage.
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All-In [40656]
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I. Told. You.
Mar 20, 2014, 9:40 AM
[ in reply to dem feels... ] |
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That I would come help with home repairs this weekend brah. I have a truck with a toolbox and its a crew cab. The whole Greenr Gang could fit in it on the way to the Lowes.
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Heisman Winner [135569]
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Correct me if I'm wrong, but it sounds to me like what
Mar 20, 2014, 9:42 AM
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you're offering is a taxi service.
Taxi service.
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All-In [40656]
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Believe it or not
Mar 20, 2014, 9:42 AM
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I can actually do home repairs
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Heisman Winner [105525]
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Licensed contractor has to sign off on all repairs for the
Mar 20, 2014, 9:42 AM
[ in reply to I. Told. You. ] |
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buyer's bank.
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All-In [40656]
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You dont think I do quality work?***
Mar 20, 2014, 9:47 AM
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Heisman Winner [105525]
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I don't give a #### if you jam your caulk in everything and
Mar 20, 2014, 9:50 AM
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call it good. I just need a licensed contractor to sign off on all the work.
SRS post is MFin SRS
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Heisman Winner [135569]
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Wow.
Mar 20, 2014, 9:57 AM
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Somebody REALLY sounds like they need to have carnal relation in a bouncy house.
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Heisman Winner [105525]
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If it doesn't happen, I will call the birthday party a
Mar 20, 2014, 9:59 AM
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failure. My wife has been put on notice...we are banging in the bounce house or she can GTFO.
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Oculus Spirit [75714]
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Your commute will suck, but I've got a spare room to rent
Mar 20, 2014, 10:00 AM
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once you get kicked out.
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All-In [40656]
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Heisman Winner [105525]
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lulz, I know a guy in Rock Hill who is a graphic designer
Mar 20, 2014, 10:06 AM
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with a father who is a GC on the side, he might sign off on it.
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110%er [7980]
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does the GC live in the area***
Mar 20, 2014, 10:08 AM
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Heisman Winner [105525]
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Yes, very good friend of mine.***
Mar 20, 2014, 10:17 AM
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All-In [40656]
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Posts: 23591
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Heisman Winner [105525]
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probably not, he is my roomate from college and HATES
Mar 20, 2014, 10:16 AM
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NC State.
kidding.
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All-In [40656]
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Then definitely not
Mar 20, 2014, 10:40 AM
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This guy went to SCU
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110%er [7980]
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I just want the house gone at this point
Mar 20, 2014, 9:44 AM
[ in reply to dem feels... ] |
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the buyers really want the house as the appraiser also wants the entire exterior repainted which the buyers said they will pay for. Closing was supposed to be in less than 2 weeks . . . . I'm so close. . . . This house is a hole I'm throwing money down every month as I don't live there.
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Heisman Winner [105525]
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I hope we never get to that point, but I can see where you
Mar 20, 2014, 9:46 AM
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are coming from. It sucks a fatty
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Oculus Spirit [75714]
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This is why I never want to buy again.
Mar 20, 2014, 9:47 AM
[ in reply to I just want the house gone at this point ] |
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When I escape I will first try to find a house to rent before realizing I should just go live with the riffraff that lives in the cheap places.
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All-In [33418]
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Renting a house is asspensive
Mar 20, 2014, 10:10 AM
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Talk about really throwing money down a hole
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110%er [7980]
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with how much this house is costing me
Mar 20, 2014, 10:17 AM
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not really
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Oculus Spirit [75714]
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Renting decent apartments are also asspensive.
Mar 20, 2014, 10:23 AM
[ in reply to Renting a house is asspensive ] |
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The reason I'd be okay with it is when I have weeks like this one, where the only reason I didn't walk off my steady job was the #### mortgage payment.
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Oculus Spirit [79428]
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You've got to call the bank ever day to get anything done
Mar 20, 2014, 9:54 AM
[ in reply to dem feels... ] |
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Loan officers, etc. are on par with DMV workers.
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All-TigerNet [10157]
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Re: dem feels...I know those too
Mar 20, 2014, 9:54 AM
[ in reply to dem feels... ] |
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every where I turn seems like... ####
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Heisman Winner [135569]
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Posts: 91618
Joined: 12/6/98
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Solution:
Mar 20, 2014, 9:40 AM
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Burn down house, collect insurance, invest heavily in dogecoin, build adobe hut to live in.
U. R. Whalecum.
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Letterman [295]
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How big is your house? I'm about to have to rewire...
Mar 20, 2014, 9:44 AM
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my house and have been dreading calling an electrician to price out a whole-house rewire.
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110%er [7980]
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1500-2000 sqaure feet, 2 floors***
Mar 20, 2014, 9:50 AM
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CU Medallion [54758]
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that's quite a range..."Uh, it's either THIS many, or
Mar 20, 2014, 11:03 AM
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33% MORE than that..."
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110%er [7980]
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I honestly don't know the exact square footage
Mar 20, 2014, 12:41 PM
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there is also a detached garage and room above the garage and I don't know if thats included for the work described
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Letterman [295]
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Hall of Famer [23693]
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You did the right thing.
Mar 20, 2014, 9:46 AM
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Appraisers are NOT experts on wiring unless they were electricians in a past life. If they continue to raise a stink, ask for the appraiser's electrical bona fides. Srsly.
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Commissioner [960]
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I had the same
Mar 20, 2014, 9:59 AM
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effin "inspector" said there was "water stains" and "possible water damage" and the at thr inside of the roof had a "high moisture content". But there was apparently no leaks and no wood rot. MF'in buyer just walked away.
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