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Buying a House

Grumpy Camel
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House is clutter free to the point of looking like it’s been robbed. Lol. Not quite, but realtor coached us really hard on what to do and we listened!

We have received 2 feedbacks electronically from showings and the agents marked ‘priced right’ good curb appeal, nothing to fix. So and so on. 

 

We really are trying to do it right and our realtor has a stellar reputation. He’s not mu buddy’s uncle’s poker friend or any shit like that. 

Edited by slorch
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UTPhil2006

UTPhil2006 3817

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5 minutes ago, Gil Bang said:

that feedback is great news for you.   

Just let the bait soak for a while.  You'll get a bite soon enough. 

Pretty much this.  If you are in the realtors "priced to move" tier, then you don't need to be giving away 5k in closing costs.   Also keep in mind, a full price offer with you paying title and warranty are "full price offers" as those are pretty standard for the seller to pay for.

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UTPhil2006

UTPhil2006 3817

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14 hours ago, Updawg said:

If it's a decent market I'd move on. They will probably be doing that shit every step of the way. Who knows what they will want after it's inspection. Financing issues etc.

Beware of red flags

This is also true and kind of what we just went through on our Galveston deal.  It's a "if you give a mouse a cookie" type scenario.  Its just gonna be a harbinger of things to come

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agreed to offer today. $800 below listing price after exchanging counter offers. 

was told buyer is pre approved for financing over that amount.  No forseeable issues on that front, which means catastrophe awaits, right?

Fingers crossed for smooth inspection/ negotiation process.

have had 3 other showings besides this buyer.  Will keep showing this weekend.( I guess)

Edited by slorch
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Gil Bang

Gil Bang 26035

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"was told". 

That's bullshit.  When I present an offer on my listings, I present the offer, the buyer's loan approval letter, and the buyer's bank statement showing my seller that they have adequate funds to close the deal ( I do a "net sheet" showing what the buyer's cash costs will be, as well as what the seller can expect to walk with after close).  

Aside from that, congratulations to you.  

How long is the inspection period?  Out here, the default is 17 days 

 

Also Slorch, I remember something about a new job closer to family.  Are you gonna rent for a while after the move?

Edited by Gil Bang
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1 minute ago, Gil Bang said:

"was told". 

That's bullshit.  When I present an offer on my listings, I present the offer, the buyer's loan approval letter, and the buyer's bank statement showing my seller that they have adequate funds to close the deal ( I do a "net sheet" showing what the buyer's cash costs will be, as well as what the seller can expect to walk with after close).  

( maybe I should expect more?)

To our realtor's credit, everything he has done with us, and I mean EVERYTHING has been legit.  My bullshit detector hasn't gone off once.

Doesn't mean I can't be blindsided, by any means, but everything he has told us has come true.  Zero bullshit factor.

If i requested that info, I would imagine it would be produced.

To my point earlier in the thread, I don't do this shit for a living.   I am paying someone who was VERY highly recommended to fulfill our interests.

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No rental in Amarillo.  We are closing this coming week on our house there and should be moved in by Easter weekend( Corporate moving beauracracy has taken a fucking week to get their person to call me today and confirm the timeline.)

For all of the shit that can go south, this whole process has been relatively smooth.

I figured we might pay two mortgages for a couple of months.   It might work out to ZE-fucking-ro as it stands.

I couldn't be more pleased on that front. I realize that is something of a humble brag, but we do truly live within our means.  Our mortgage is less than half of what we could afford...obviously( now.)

Edited by slorch
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Party_Taco

Party_Taco 3771

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First timer here and glad to be doing it on the east coast, but good LORD... this process has everyone with a hand out along the way. I honestly wonder who ISN’T getting paid via this transaction.

Favorite random ass factor in Baltimore: “Land Rent”

This is the city essentially saying “the land deeds are over 400 years old and no one is sure who owns shit, so if there is no clear owner, you should pay insurance incase some random ass shows up with a torn slip of paper saying their great grand used to make mud on the property...

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TwiceHorn

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18 minutes ago, Party_Taco said:

First timer here and glad to be doing it on the east coast, but good LORD... this process has everyone with a hand out along the way. I honestly wonder who ISN’T getting paid via this transaction.

Favorite random ass factor in Baltimore: “Land Rent”

This is the city essentially saying “the land deeds are over 400 years old and no one is sure who owns shit, so if there is no clear owner, you should pay insurance incase some random ass shows up with a torn slip of paper saying their great grand used to make mud on the property...

Is that in addition to title insurance? Because other than the 400 years old part, sounds a lot like title insurance.

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UTPhil2006

UTPhil2006 3817

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On 4/4/2019 at 7:51 PM, slorch said:

agreed to offer today. $800 below listing price after exchanging counter offers. 

was told buyer is pre approved for financing over that amount.  No forseeable issues on that front, which means catastrophe awaits, right?

Fingers crossed for smooth inspection/ negotiation process.

have had 3 other showings besides this buyer.  Will keep showing this weekend.( I guess)

Whats the latest?

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Gil Bang

Gil Bang 26035

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46 minutes ago, slorch said:

Awaiting final offer from buyers related to the inspection. Unsure of y’all’s terminology. 

How bad was the inspection?

You have said that you are well-represented, and I'm sure that's true.

When the inspection reveals things, I advise my sellers to take care of any health and safety issues.  

Cosmetic defects or normal wear and tear,  no fucking way.  If it's a "defect" that they can see, well, they knew about it when they made the offer.  Shit that's hidden is a different story. 

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UTPhil2006

UTPhil2006 3817

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1 hour ago, NeverMarryAStripper said:

When I’m buying a house I usually just ask for some allowance at closing based on inspection items. I’d rather do any repairs myself rather than have the sellers do them as cheaply and shoddily as possible.

Yep.  Usually depends on the buyer, but thats also common.  A lot of clients would rather do it themselves and just get the money for repairs rather than have the seller do it.

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moving day.  Moving truck and about 8 dudes showed up.  Shit is real now, I guess.  LOL.  

2 other dudes showed up and crated 3 TVs and unhooked the washer/ dryer.  Mover crew chief dude told me that's usually $1000 to $1200 for them to do that.   impressive with the TVs, but damn.  Glad it ain't on my dime.  

Their option period is almost over.  Inspection went well, and repairs are minimal.  We have agreed on closing price and everything. Everything has been like clockwork, really.  Aside from the first buyer pulling their shit, it has been smoother than I thought possible.  i keep waiting for the other shoe to drop/ reality to set in.

I do want to say thanks especially to Gil and UT Phil for the feedback and responses.  It truly helps to bounce things off of you guys who will give straight up, unadulterated answers.   Thank you!!!  How unsurly of you...

 

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UTPhil2006

UTPhil2006 3817

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1 hour ago, slorch said:

moving day.  Moving truck and about 8 dudes showed up.  Shit is real now, I guess.  LOL.  

2 other dudes showed up and crated 3 TVs and unhooked the washer/ dryer.  Mover crew chief dude told me that's usually $1000 to $1200 for them to do that.   impressive with the TVs, but damn.  Glad it ain't on my dime.  

Their option period is almost over.  Inspection went well, and repairs are minimal.  We have agreed on closing price and everything. Everything has been like clockwork, really.  Aside from the first buyer pulling their shit, it has been smoother than I thought possible.  i keep waiting for the other shoe to drop/ reality to set in.

I do want to say thanks especially to Gil and UT Phil for the feedback and responses.  It truly helps to bounce things off of you guys who will give straight up, unadulterated answers.   Thank you!!!  How unsurly of you...

 

No prob.  That's what I'm here for.  Feel free to tell your friends to use us for Realty/Mortgages.

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Chewbacca

Chewbacca 7787

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On 4/4/2019 at 7:41 PM, Party_Taco said:

Oh, indeed...

Finding a home with a clear property record was big for us... ain’t no way I’m paying “rent” to so mother fucker who supposedly owns my dirt or buying insurance against such claims.

What do you think title insurance is?  You are buying insurance against such claims.  I've never heard of land rent, though.

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Catpfish

Catpfish 618

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21 hours ago, Lobwedgephil said:

Selling my house and they are doing a hydrostatic plumbing test today? Should I bend over? 

 

 

Just curious, do you have potential slab damage and where do you live?  They are just not very common (that I have seen) around Austin unless there are some warning signs like slab damage.

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Lobwedgephil

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2 hours ago, Catpfish said:

Just curious, do you have potential slab damage and where do you live?  They are just not very common (that I have seen) around Austin unless there are some warning signs like slab damage.

Houston, and the test is very common now from what I understand. Apparently the test is frequently used around here to beat down the sellers price, as you can find a leak in anything if you want to. Apparently my house passed though, but there is minor concern in one bathroom. that it may or may not have a small leak. Guess it was inconclusive there, but I have yet to see report. No slab damage. 

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In shocking news:  Appraisal on mine came back 11% less than the extremely recent tax assessment.

 

it’s still outright theft the way our property taxes are done.  Miraculously, the errors are never in the taxpayer’s favor.  Completely believable.

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Bevo

Bevo 13601

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Not to scare you, but my brother allowed a couple month rent back when he bought his home in Houston (Memorial). The previous owner/current renter did not tell my brother about a roof leak so by the time they moved in they had about $20K extra (on top of needing a new roof) in repairs to deal with.

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UTPhil2006

UTPhil2006 3817

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Anyone want to buy an investment property in E Austin (Wm Cannon and 35).  House has tenants now who would like to stay, but don't have to stay.  Going live early next week.  Professional pics and MLS listing coming then.  4604 Candletree.  3/2, 987 sq ft.  Can PM other details if interested.

58580552_1224276311079614_77195358600303

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