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Buying a House

shyvas

Deity
Forum Moderator
I hope I have been challenging him enough that he is figuring it out but I’m not going to be an easy pushover. My attorney says that it’s acceptable to go ahead with the inspection before doing the contracts, I will have no problem doing that. I do not want to go into contract if there’s going to be an issue with the house. I would rather know on the up and up. I’m not looking to get anything that isn’t fair and square.
You sound like an expert in this field. ;)
 

KLS52

“SnarkMaster”
I have good news and feel much better after talking to lawyer. Will write apology about my agent later, hahahahaha. I’m not against eating (vegan) crow, lol. What I won’t apologize for is wanting to get my own facts and not blindly follow some guy I don’t really know. :)
 

shyvas

Deity
Forum Moderator
I have good news and feel much better after talking to lawyer. Will write apology about my agent later, hahahahaha. I’m not against eating (vegan) crow, lol. What I won’t apologize for is wanting to get my own facts and not blindly follow some guy I don’t really know. :)
Good for you KL. 🆙
 

silva

Addicted Poster
Location
Ohio, U.S.A
I know but being in charge is my weak point. I was so uncomfortable yesterday when we were on the phone and he’s telling me not to contact an attorney yet and to let the guy have the inspection on Friday. I had to come out and tell him, “look no offense to you, I know you’ve been doing this a lot longer than I have, but I am not comfortable doing it this way so I’m sorry, but I will be making a phone call to a lawyer in the morNing”. I was shaking. Lol. I mean how was he not insulted by that. I pretty much said, I don’t believe/trust you.
Oh I said way more than that when I felt screwed with my realtors! A most certain "I can't trust you anymore, I've been doing my own work, I do not need you".
You handled this well! Cudos! :up:
Yeah, contract and deposit come first. Deposit is not refundable
 

silva

Addicted Poster
Location
Ohio, U.S.A
I have good news and feel much better after talking to lawyer. Will write apology about my agent later, hahahahaha. I’m not against eating (vegan) crow, lol. What I won’t apologize for is wanting to get my own facts and not blindly follow some guy I don’t really know. :)
Ok...
 

Poppy

Ankle Biter
@KLS52 I don't have any new input for you regarding the inspection or contract concerns. But here's what I do have a concern about - with a March closing, you restrict your own shopping options. If you look now and find something you like, it's going to be unlikely that that seller will want to wait for a March closing. Most sellers are looking to get out within 30 to 45 days. You could end up looking for your next home in the dead of winter - in snow and ice - and that might not be the best time to look.
 

KLS52

“SnarkMaster”
@KLS52 I don't have any new input for you regarding the inspection or contract concerns. But here's what I do have a concern about - with a March closing, you restrict your own shopping options. If you look now and find something you like, it's going to be unlikely that that seller will want to wait for a March closing. Most sellers are looking to get out within 30 to 45 days. You could end up looking for your next home in the dead of winter - in snow and ice - and that might not be the best time to look.
This is exactly what I was thinking. We do have several options right now. And my buying agent (I love her!) does not think I would find a seller willing to wait. But I don’t see that I have much choice as we were taking it off the market until February/March anyway. The listing expires Thursday.
 

KLS52

“SnarkMaster”
I’m not feeling very optimistic about the inspection on Friday. I think the water issue in the basement might be worse than I thought.
But as disappointing as it will be, I have a new plan if it doesn’t work out. I’m going to look into refinancing, take out a little extra money and look into waterproofing the basement. Then we can put the house back on the market and try again.
It probably means I’ll end up working a few more months. That upsets me more than anything. But I’ll wait and see what happens first. Just trying to stay calm and not freak out. I need to take whatever happens and just move forward. Timing is everything and I like to think things will fall into place as they should.
 

Tom

Addicted Poster
Location
Upstate New York
I heard on the radio yesterday that lots of people are in the market to buy houses. This should be good for you. ('course, you might have to rent for a bit before you find another place...)
 

silva

Addicted Poster
Location
Ohio, U.S.A
I’m not feeling very optimistic about the inspection on Friday. I think the water issue in the basement might be worse than I thought.
But as disappointing as it will be, I have a new plan if it doesn’t work out. I’m going to look into refinancing, take out a little extra money and look into waterproofing the basement. Then we can put the house back on the market and try again.
It probably means I’ll end up working a few more months. That upsets me more than anything. But I’ll wait and see what happens first. Just trying to stay calm and not freak out. I need to take whatever happens and just move forward. Timing is everything and I like to think things will fall into place as they should.
You're selling because you have a high house payment right? I can't see the logic in putting more of your money in the house, I doubt you'd end up getting back after refinancing. I had one side waterproofed, alongside the outside, and it was like $7000.
Can you get out of the contract with realtor?
 

KLS52

“SnarkMaster”
You're selling because you have a high house payment right? I can't see the logic in putting more of your money in the house, I doubt you'd end up getting back after refinancing. I had one side waterproofed, alongside the outside, and it was like $7000.
Can you get out of the contract with realtor?
The contract runs out tomorrow but since negotiations already started its a moot point. Unless the buyer backs out then he is no longer my realtor as of Friday.
 

KLS52

“SnarkMaster”
I think I would need to take care of waterproofing because going forward, even if it’s with a new realtor, no one is going to want to buy it with a wet basement issue if they’re looking for livable space down there.
 

silva

Addicted Poster
Location
Ohio, U.S.A
I think I would need to take care of waterproofing because going forward, even if it’s with a new realtor, no one is going to want to buy it with a wet basement issue if they’re looking for livable space down there.
You said it was occasional? How much seepage- like around the perimeter, or does the floor get water? Lots of houses are like that- you lived with it, buyers can feel they're getting a good deal and can look to doing it later.
Have you got an idea what it would cost? No point in sinking your own money in it if it won't make a big enough increase in your profit, and really, most improvements don't
 

KLS52

“SnarkMaster”
You said it was occasional? How much seepage- like around the perimeter, or does the floor get water? Lots of houses are like that- you lived with it, buyers can feel they're getting a good deal and can look to doing it later.
Have you got an idea what it would cost? No point in sinking your own money in it if it won't make a big enough increase in your profit, and really, most improvements don't
It is occasional that we would see water. I’m wondering now if the dampness was coming through, but just not enough to “see” water. Because it’s my sons room, I hardly ever go in there. And it never occurred to me to really look for damage. But I did so yesterday and while there’s no visible water, when touched the floor it felt damp. It hasn’t rained in a few days. ☹ It’s ok. I’m remarkably calm. It’s disappointing but not something that can’t be rectified. We will accept whatever the outcome. If it’s something more serious it’s best we know about it so we can take care of it. Would be worse the longer it gets prolonged.
 

silva

Addicted Poster
Location
Ohio, U.S.A
It is occasional that we would see water. I’m wondering now if the dampness was coming through, but just not enough to “see” water. Because it’s my sons room, I hardly ever go in there. And it never occurred to me to really look for damage. But I did so yesterday and while there’s no visible water, when touched the floor it felt damp. It hasn’t rained in a few days. ☹ It’s ok. I’m remarkably calm. It’s disappointing but not something that can’t be rectified. We will accept whatever the outcome. If it’s something more serious it’s best we know about it so we can take care of it. Would be worse the longer it gets prolonged.
I'd just be concerned about getting your money back! I had a fixer upper where we got interior waterproofing, then just a couple years later had to get exterior, which was the right solution, but expensive. I looked at houses that were 'waterproofed', I did not trust it, and felt I was paying extra for something I had no know idea whether it was right or not.
I'm just suggesting you talk to other realtors about whether it's worth you having this done or leaving it up to the buyers. If you've lived there that long it doesn't sound that worrysome.
Have you got estimates? Do you know other homes in your area with water problems?
 

KLS52

“SnarkMaster”
I'd just be concerned about getting your money back! I had a fixer upper where we got interior waterproofing, then just a couple years later had to get exterior, which was the right solution, but expensive. I looked at houses that were 'waterproofed', I did not trust it, and felt I was paying extra for something I had no know idea whether it was right or not.
I'm just suggesting you talk to other realtors about whether it's worth you having this done or leaving it up to the buyers. If you've lived there that long it doesn't sound that worrysome.
Have you got estimates? Do you know other homes in your area with water problems?
I don’t know if my neighbors have water issues, except for one. Her solution was to raise the floor but the water must still go underneath. Her basement smells very musty!

We won’t make any hasty decisions. We’ve been here 24 years. I’m wondering if the fact that the last tree on that side of the house has to come down has something to do with it. Don’t trees and shrubs help with drainage? I should google. Not that it will help me at the moment.
 

KLS52

“SnarkMaster”
So here’s the update. The buyer wants the house as is. No drop in price. We had 24 hours of rain the day before inspection and no seepage! And he moved up the closing date to February 15 which just happens to be my birthday! I’m feeling better but still nervous. They’re doing a radon test Monday I don’t think that will be a problem.


Thanks to everyone for your input and support. It is greatly appreciated. :smitten:

Oh yeah, and I finally saw the proof of funds. Must be nice to have all that cash sitting in your bank account, lol.
 

shyvas

Deity
Forum Moderator
So here’s the update. The buyer wants the house as is. No drop in price. We had 24 hours of rain the day before inspection and no seepage! And he moved up the closing date to February 15 which just happens to be my birthday! I’m feeling better but still nervous. They’re doing a radon test Monday I don’t think that will be a problem.


Thanks to everyone for your input and support. It is greatly appreciated. :smitten:

Oh yeah, and I finally saw the proof of funds. Must be nice to have all that cash sitting in your bank account, lol.
That all looks very positive, especially as the buyer is not reducing his initial offer.:) What did your realtor have to say ? ;)
 
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