Bonny
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Post by Bonny on Jul 5, 2016 16:09:48 GMT -5
We want to do some configuring of our downstairs. We want to make the place nicer as DH's "man-cave" but also keep the floor plan flexible for a future buyer who might want to use it as another bedroom or MIL unit. DH wants to widen the laundry room and put in a shower by expanding into the over sized garage and re-pour the garage floor. It's pretty beat up because we think there are voids in the ground underneath. Ours is a "cut and fill" lot and the "fill" part of the lot settled quite a bit several years ago (as in probably 40+ years ago). We knew about the settlement when we bought the house 20+ years ago. We retained the services of a Geotechnical Engineer. There is a 4" difference between the far corner of the kitchen to the back bedroom. We believe the problem was corrected by the seller before us and we did more work by adding French drains around the house. During the 20 years of our ownership there's been no evidence of further settling. But if we're going to reconfigure the downstairs anyway, that's the time to clean up all that cracked garage concrete. It sounds like worthwhile work that should be done and I guess your DH deserves a nice Man Cave, but I was hoping for something fun and spectacular for you. Awwww, I don't think things could get much more spectacular then they are.
I'm looking forward to have the downstairs area function better than it does. And I'm really looking forward to having the garage organized. I've wanted a kayak but we have so much crap that I have held off, promising myself that would be the reward for cleaning out the garage.
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Bonny
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Post by Bonny on Jul 10, 2016 10:58:01 GMT -5
Well we may have trouble in paradise.
Buyer did walk-through yesterday and isn't satisfied with the termite repairs done for the ramada/lanai/pergola and doesn't like the old fence. He also found two places that both (actually three!) pest control inspectors missed. Apparently he brought his ladder and probed and proded every eave and rafter tail and found one that had old termite damage and another that has a little dry rot. This "inspection" is way beyond a normal buyer walk through and he actually did damage to the house by opening these areas.
Agent tried to get us to offer some money ($250-$500) but we're sick of his games. It obvious that he's just trying to squeeze more out of us because of his unreasonable expectations. We've met our legal obligations and he can suck up these minor repairs if he wants the house. Our agent has put him and his broker on notice that he will be responsible for the repairs if he doesn't go through with the sale. We also have sent her an e-mail to advise buyer that he can only visit the property again via an appointment with her. It's obvious that he doesn't respect boundaries and we can't trust what he will do without our knowledge or consent.
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suesinfl
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Post by suesinfl on Jul 10, 2016 11:18:30 GMT -5
Damn, Bonnie, hope things work out and this nightmare is over soon.
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seriousthistime
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Post by seriousthistime on Jul 10, 2016 12:22:29 GMT -5
Well we may have trouble in paradise.
Buyer did walk-through yesterday and isn't satisfied with the termite repairs done for the ramada/lanai/pergola and doesn't like the old fence. He also found two places that both (actually three!) pest control inspectors missed. Apparently he brought his ladder and probed and proded every eave and rafter tail and found one that had old termite damage and another that has a little dry rot. This "inspection" is way beyond a normal buyer walk through and he actually did damage to the house by opening these areas.
Agent tried to get us to offer some money ($250-$500) but we're sick of his games. It obvious that he's just trying to squeeze more out of us because of his unreasonable expectations. We've met our legal obligations and he can suck up these minor repairs if he wants the house. Our agent has put him and his broker on notice that he will be responsible for the repairs if he doesn't go through with the sale. We also have sent her an e-mail to advise buyer that he can only visit the property again via an appointment with her. It's obvious that he doesn't respect boundaries and we can't trust what he will do without our knowledge or consent. After all this, I'd be worried he'll cause trouble after the closing. How long does a buyer have in your state to sue you for non-disclosure?
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Works4me
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Post by Works4me on Jul 10, 2016 13:27:36 GMT -5
That sux - Idiot buyer!
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Bonny
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Post by Bonny on Jul 10, 2016 15:58:19 GMT -5
Well we may have trouble in paradise.
Buyer did walk-through yesterday and isn't satisfied with the termite repairs done for the ramada/lanai/pergola and doesn't like the old fence. He also found two places that both (actually three!) pest control inspectors missed. Apparently he brought his ladder and probed and proded every eave and rafter tail and found one that had old termite damage and another that has a little dry rot. This "inspection" is way beyond a normal buyer walk through and he actually did damage to the house by opening these areas.
Agent tried to get us to offer some money ($250-$500) but we're sick of his games. It obvious that he's just trying to squeeze more out of us because of his unreasonable expectations. We've met our legal obligations and he can suck up these minor repairs if he wants the house. Our agent has put him and his broker on notice that he will be responsible for the repairs if he doesn't go through with the sale. We also have sent her an e-mail to advise buyer that he can only visit the property again via an appointment with her. It's obvious that he doesn't respect boundaries and we can't trust what he will do without our knowledge or consent. After all this, I'd be worried he'll cause trouble after the closing. How long does a buyer have in your state to sue you for non-disclosure? Statute of limitations for a contract action in CA is 4 years. And yes both DH and I have mentioned to our agent that we are concerned that he will keep coming after us (via small claims) if we don't shut him down now over the "as-is" condition of the house.
I don't know that he would actually prevail. He's waived all his rights to about 2 dozen inspections and as a real estate licensee, a judge will hold him to a higher standard than a normal, uneducated buyer. He would have to prove a very strong case that we hid something from him and we haven't. I have gone out of my way to point out and/or disclose issues (like the slight fence encroachment) that could possibly concern a "normal" buyer.
It's clear he has some fixation with the termite issue and frankly that's his problem. We've met our legal obligations and if he doesn't like the repair work there's nothing to keep him from redoing it to his liking, on his dime after he owns the property.
Quite frankly, the house is in excellent physical shape given its age. I just have no patience for people who expect a "perfect" house built in 1961. And relatively speaking, the termite/dry rot issues associate with this house are almost non-existent. Most houses have A LOT more issues, including much newer houses.
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Bonny
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Post by Bonny on Jul 10, 2016 15:59:55 GMT -5
What I really want to say is "Put your big boy pants on and get over yourself!".
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TheOtherMe
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Post by TheOtherMe on Jul 10, 2016 18:52:11 GMT -5
Also if he walks, he did damage to the house if you have to find a different buyer. No house is perfect, not even a brand new one.
I watch people on HGTV looking at older homes and they expect total perfection. It isn't going to be there in a house built in the 60's, 70's, 80's and beyond. My home, built 7 years ago, isn't perfect.
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Deleted
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Post by Deleted on Jul 10, 2016 18:54:24 GMT -5
Mine is going to be perfect! Forever!
Ha ha. Couldn't even type that with a straight face...
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TheHaitian
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Post by TheHaitian on Jul 10, 2016 19:00:55 GMT -5
After all this, I'd be worried he'll cause trouble after the closing. How long does a buyer have in your state to sue you for non-disclosure? Statute of limitations for a contract action in CA is 4 years. And yes both DH and I have mentioned to our agent that we are concerned that he will keep coming after us (via small claims) if we don't shut him down now over the "as-is" condition of the house.
I don't know that he would actually prevail. He's waived all his rights to about 2 dozen inspections and as a real estate licensee, a judge will hold him to a higher standard than a normal, uneducated buyer. He would have to prove a very strong case that we hid something from him and we haven't. I have gone out of my way to point out and/or disclose issues (like the slight fence encroachment) that could possibly concern a "normal" buyer.
It's clear he has some fixation with the termite issue and frankly that's his problem. We've met our legal obligations and if he doesn't like the repair work there's nothing to keep him from redoing it to his liking, on his dime after he owns the property.
Quite frankly, the house is in excellent physical shape given its age. I just have no patience for people who expect a "perfect" house built in 1961. And relatively speaking, the termite/dry rot issues associate with this house are almost non-existent. Most houses have A LOT more issues, including much newer houses.
What an asshole!!! Now you have us worried, the inspection on our house is this Monday at noon! Our agent will be with them!
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Bonny
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Post by Bonny on Jul 10, 2016 19:56:11 GMT -5
Oh yeah, he's definitely escalated it.
He wrote up a "Repair Request" and an addendum demanding all repair work (which was already done) be performed by a licensed contractor and proof of receipts. We've been accused of failing to disclose all termite problems and of course wants a credit equal to the amount of the bogus repairs required by his termite company, something like $3,500.
We're not bothering to respond. His out of contract for making those kind of demands and given what he did to our property, subject to a formal complaint to the CA Dept of Real Estate.
After thinking about it for a while, I told my agent that I want to kill him with kindness by sending a message that it's obvious that this isn't the house for him and that he's got trust issues we can't accommodate. We'll release him and all of his deposit save a hold back for repairs from the damage he caused and any escrow costs.
DH is calling that plan "B" he wants to let the process play out over the next three days. Buyer has until Wednesday to perform and if he doesn't we send a Notice to Perform in which he has 48 hours to close escrow. If he doesn't, the liquidated damages part of the contract awards us his deposit of $22,000 in compensation. Of course GETTING the money is more complicated and has its own risks of litigation.
The brokers are supposed to talk and we'll see what happens.
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Bonny
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Post by Bonny on Jul 10, 2016 20:07:42 GMT -5
Statute of limitations for a contract action in CA is 4 years. And yes both DH and I have mentioned to our agent that we are concerned that he will keep coming after us (via small claims) if we don't shut him down now over the "as-is" condition of the house.
I don't know that he would actually prevail. He's waived all his rights to about 2 dozen inspections and as a real estate licensee, a judge will hold him to a higher standard than a normal, uneducated buyer. He would have to prove a very strong case that we hid something from him and we haven't. I have gone out of my way to point out and/or disclose issues (like the slight fence encroachment) that could possibly concern a "normal" buyer.
It's clear he has some fixation with the termite issue and frankly that's his problem. We've met our legal obligations and if he doesn't like the repair work there's nothing to keep him from redoing it to his liking, on his dime after he owns the property.
Quite frankly, the house is in excellent physical shape given its age. I just have no patience for people who expect a "perfect" house built in 1961. And relatively speaking, the termite/dry rot issues associate with this house are almost non-existent. Most houses have A LOT more issues, including much newer houses.
What an asshole!!! Now you have us worried, the inspection on our house is this Monday at noon! Our agent will be with them! I believe our situation is unusual. My agent has never seen an agent play "Termite Inspector" during the walk-through and actually damage a seller's property to prove a point.
The home inspection that most buyers do is to alert them of any serious issues with the house but everybody knows that it's also a way of negotiating down the price of the house by claiming minor things that are wrong to obtain extra work or to obtain a credit.
In our case, the time for that game has passed. He released all contingencies on 6/30. He doesn't get to renegotiate the contingencies. The purpose of the walk-through is to ensure that the buyer is receiving the property in substantially the same condition as he bought it. For example, there are cases where furniture may have hid some damage or in the process of moving the property may have been damaged. In more extreme cases a house might have had a fire or pipes frozen during the escrow period.
Our buyer is acting like a spoiled two year old trying to get his way. The problem is that he's crossed an ethical line which can get him into trouble with the Department of Real Estate.
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TheHaitian
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Post by TheHaitian on Jul 10, 2016 20:31:40 GMT -5
What an asshole!!! Now you have us worried, the inspection on our house is this Monday at noon! Our agent will be with them! I believe our situation is unusual. My agent has never seen an agent play "Termite Inspector" during the walk-through and actually damage a seller's property to prove a point.
The home inspection that most buyers do is to alert them of any serious issues with the house but everybody knows that it's also a way of negotiating down the price of the house by claiming minor things that are wrong to obtain extra work or to obtain a credit.
In our case, the time for that game has passed. He released all contingencies on 6/30. He doesn't get to renegotiate the contingencies. The purpose of the walk-through is to ensure that the buyer is receiving the property in substantially the same condition as he bought it. For example, there are cases where furniture may have hid some damage or in the process of moving the property may have been damaged. In more extreme cases a house might have had a fire or pipes frozen during the escrow period.
Our buyer is acting like a spoiled two year old trying to get his way. The problem is that he's crossed an ethical line which can get him into trouble with the Department of Real Estate.
Wow a true asshole!
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CCL
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Post by CCL on Jul 10, 2016 21:42:31 GMT -5
Oh yeah, he's definitely escalated it.
He wrote up a "Repair Request" and an addendum demanding all repair work (which was already done) be performed by a licensed contractor and proof of receipts. We've been accused of failing to disclose all termite problems and of course wants a credit equal to the amount of the bogus repairs required by his termite company, something like $3,500.
We're not bothering to respond. His out of contract for making those kind of demands and given what he did to our property, subject to a formal complaint to the CA Dept of Real Estate.
After thinking about it for a while, I told my agent that I want to kill him with kindness by sending a message that it's obvious that this isn't the house for him and that he's got trust issues we can't accommodate. We'll release him and all of his deposit save a hold back for repairs from the damage he caused and any escrow costs.
DH is calling that plan "B" he wants to let the process play out over the next three days. Buyer has until Wednesday to perform and if he doesn't we send a Notice to Perform in which he has 48 hours to close escrow. If he doesn't, the liquidated damages part of the contract awards us his deposit of $22,000 in compensation. Of course GETTING the money is more complicated and has its own risks of litigation.
The brokers are supposed to talk and we'll see what happens. Whoa! $22,000 deposit? The most I ever put down was $1000. That might teach him a lesson if you can keep it all.
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Bonny
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Post by Bonny on Jul 10, 2016 22:12:29 GMT -5
Oh yeah, he's definitely escalated it.
He wrote up a "Repair Request" and an addendum demanding all repair work (which was already done) be performed by a licensed contractor and proof of receipts. We've been accused of failing to disclose all termite problems and of course wants a credit equal to the amount of the bogus repairs required by his termite company, something like $3,500.
We're not bothering to respond. His out of contract for making those kind of demands and given what he did to our property, subject to a formal complaint to the CA Dept of Real Estate.
After thinking about it for a while, I told my agent that I want to kill him with kindness by sending a message that it's obvious that this isn't the house for him and that he's got trust issues we can't accommodate. We'll release him and all of his deposit save a hold back for repairs from the damage he caused and any escrow costs.
DH is calling that plan "B" he wants to let the process play out over the next three days. Buyer has until Wednesday to perform and if he doesn't we send a Notice to Perform in which he has 48 hours to close escrow. If he doesn't, the liquidated damages part of the contract awards us his deposit of $22,000 in compensation. Of course GETTING the money is more complicated and has its own risks of litigation.
The brokers are supposed to talk and we'll see what happens. Whoa! $22,000 deposit? The most I ever put down was $1000. That might teach him a lesson if you can keep it all. Price is 755k. I think it's 3% of sales price.
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TheHaitian
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Post by TheHaitian on Jul 10, 2016 22:15:11 GMT -5
Whoa! $22,000 deposit? The most I ever put down was $1000. That might teach him a lesson if you can keep it all. Price is 755k. I think it's 3% of sales price. In DC it is 1% so had to put 5k down on the 500k condo. In MA when we bought it was $1,000 and that was the common thing. The person that is buying our house is only putting $1,000 down till closing when they come with the remaining $33,500 (10% down).
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Jaguar
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Post by Jaguar on Jul 10, 2016 22:28:10 GMT -5
Price is 755k. I think it's 3% of sales price. In DC it is 1% so had to put 5k down on the 500k condo. In MA when we bought it was $1,000 and that was the common thing. The person that is buying our house is only putting $1,000 down till closing when they come with the remaining $33,500 (10% down). Have you heard anything about your condo ?
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taz157
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Post by taz157 on Jul 10, 2016 23:52:22 GMT -5
I can't remember when we bought our first home was the earnest deposit was, but the deposit on our 2nd home was $5,000 (slightly over 1% - down payment was 20%). For our current home, our deposit was $17,500 (slightly over 5.5% - down payment was 20%). We tried to do $5,000, but our realtor said that we wouldn't be taken seriously doing that. <shoulder shrug >. She couldn't believe when I said the buyers of our 2nd home were only doing $5,000 deposit (1.5% of purchase price - 33% or so down payment).
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Bonny
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Post by Bonny on Jul 10, 2016 23:54:00 GMT -5
In DC it is 1% so had to put 5k down on the 500k condo. In MA when we bought it was $1,000 and that was the common thing. The person that is buying our house is only putting $1,000 down till closing when they come with the remaining $33,500 (10% down). Have you heard anything about your condo ? Finally, signed lease about two hours ago!
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Bonny
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Post by Bonny on Jul 11, 2016 9:48:55 GMT -5
DH is driving to San Diego to examine the damage the buyer did.
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Bonny
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Post by Bonny on Jul 11, 2016 12:38:48 GMT -5
Buyer's broker has advised our agent that buyer will not close escrow unless he gets the credits he demanded.
Broker thinks the damage buyer did to property was within his rights.
We are executing a "Demand to Close" escrow document.
We are likely headed to arbitration.
DH says this is like being in the middle of a bad B movie.
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Works4me
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Post by Works4me on Jul 11, 2016 13:44:58 GMT -5
So basically the buyer is demanding $3500 to close?
Do you have any other options besides arbitration?
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Opti
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Post by Opti on Jul 11, 2016 13:59:50 GMT -5
Buyer's broker has advised our agent that buyer will not close escrow unless he gets the credits he demanded.
Broker thinks the damage buyer did to property was within his rights.
We are executing a "Demand to Close" escrow document.
We are likely headed to arbitration.
DH says this is like being in the middle of a bad B movie. This totally sucks. No one IMO should be allowed to damage a property they do not own. I think the broker and buyer are nuts and wonder if they would feel the same way if it happened to them.
Good luck to you. I hope you end up with the money, he goes away to torture someone else, and you find a sane buyer soon.
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TheOtherMe
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Post by TheOtherMe on Jul 11, 2016 19:11:28 GMT -5
Buyer's broker has advised our agent that buyer will not close escrow unless he gets the credits he demanded.
Broker thinks the damage buyer did to property was within his rights.
We are executing a "Demand to Close" escrow document.
We are likely headed to arbitration.
DH says this is like being in the middle of a bad B movie. A potential buyer is not allowed to damage my house during walk-through. On my 2nd house during walk through, the water heater was leaking. There was no problem with them giving me credit to replace it. At that point, they were out of the house and just wanted it to close. My broker was with me during walk through. How can it be okay to cause damage to your property?
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TheOtherMe
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Post by TheOtherMe on Jul 11, 2016 19:13:27 GMT -5
I had never had to put more than $1,000 down as earnest money until this house. The counter offer was only to increase earnest money to $2,000 as I offered asking price. Could not figure that out and my agent said she didn't get it either.
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NastyWoman
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Post by NastyWoman on Jul 11, 2016 19:16:47 GMT -5
Whoa! $22,000 deposit? The most I ever put down was $1000. That might teach him a lesson if you can keep it all. Price is 755k. I think it's 3% of sales price. That sounds about right. I had to put something like $10k earnest money down for a condo less then half that price in 2003.
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CCL
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Post by CCL on Jul 11, 2016 19:52:36 GMT -5
Buyer's broker has advised our agent that buyer will not close escrow unless he gets the credits he demanded.
Broker thinks the damage buyer did to property was within his rights.
We are executing a "Demand to Close" escrow document.
We are likely headed to arbitration.
DH says this is like being in the middle of a bad B movie. What a pain in the a$$.
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CCL
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Post by CCL on Jul 11, 2016 19:57:22 GMT -5
I can't remember when we bought our first home was the earnest deposit was, but the deposit on our 2nd home was $5,000 (slightly over 1% - down payment was 20%). For our current home, our deposit was $17,500 (slightly over 5.5% - down payment was 20%). We tried to do $5,000, but our realtor said that we wouldn't be taken seriously doing that. <shoulder shrug >. She couldn't believe when I said the buyers of our 2nd home were only doing $5,000 deposit (1.5% of purchase price - 33% or so down payment). Lol, I just ask them do they want to sell the place or not? There is no way I would every offer asking price. I do realize every market is different .
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taz157
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Post by taz157 on Jul 11, 2016 20:17:12 GMT -5
I can't remember when we bought our first home was the earnest deposit was, but the deposit on our 2nd home was $5,000 (slightly over 1% - down payment was 20%). For our current home, our deposit was $17,500 (slightly over 5.5% - down payment was 20%). We tried to do $5,000, but our realtor said that we wouldn't be taken seriously doing that. <shoulder shrug >. She couldn't believe when I said the buyers of our 2nd home were only doing $5,000 deposit (1.5% of purchase price - 33% or so down payment). Lol, I just ask them do they want to sell the place or not? There is no way I would every offer asking price. I do realize every market is different . On our 1st house, we paid $100 over asking price (was during the crazy real estate market). When it was time to sell our 1st house, it took 18 months to sell (during the sucky real estate market and I know it sold $60K under when the initial sale price was but it had been reduced a time or 2 and I don't remember what the list price was at the time we got the contact). Our 2nd house, we paid list price as we really wanted the house and seller wouldn't go lower even though we tried. When we sold the 2nd house, we accepted the contract that was $5K over list price. On our current house, we paid list price as we really wanted the house and the seller wouldn't go lower even though we tried. I hope we are listing this house very soon and I'll let you know how it goes. FWIW, the seller for our 1st house were fabalous while the sellers for the other houses were PITA. My DH and I are pretty easy going so I guess we got lucky.
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emma1420
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Post by emma1420 on Jul 12, 2016 9:33:27 GMT -5
I had never had to put more than $1,000 down as earnest money until this house. The counter offer was only to increase earnest money to $2,000 as I offered asking price. Could not figure that out and my agent said she didn't get it either. I think a lot of this depends on the market and the realtor. It used to be in my neck of the woods you'd put down $500 or $1000 as earnest money when you submitted an offer. Now it's at least 1% of the purchase price, and in a bidding war it can be 2-3% of the purchase price. I'm sure when it's a buyers market again that the norm will go back to $1000 or so in earnest monies. Bonny -- sorry to hear that you buyer is being a total douchebag. It's almost like the buyer wants to demonstrate how he can squeeze every single penny possible out of a seller whether it's justified or not. It sounds like you have a good agent on your side though.
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