Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Jan 31, 2022 21:34:44 GMT -5
Our goal is to list our house by February 14th. We have a 39ish-foot fifth wheel, so we don't have to find elsewhere to live to sell our house.
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CCL
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Post by CCL on Feb 1, 2022 4:44:55 GMT -5
Can I jump in? I am a buyer, not selling my current place right now. I looked at a couple of properties in another state where I used to live, and my DS, DDIL and DGS live, a place that would be suitable for now and for aging in place if it comes to that. I was outbid, but my friends there put out their feelers and I learned of another place potentially for sale by owner, more modest, but also better for me in general. After playing telephone tag with my lawyer to draw up the contract, and for their lawyer to approve it, we went through the inspection and the sellers took care of everything on the list of concerns. We settled on a price that is about what their realtor said it could sell for, minus the 6% commission, so I got a good deal. And for that reason I hesitate to walk away. I also have about $800 into the place with the inspection and lawyers' fees so far. The deal is contingent on the sellers finding another place to live. In almost 5 months they have not been able to find a suitable place. They have bid on a few places but are getting outbid. They think everything in their desired area is overpriced. Looking for another place with more motivated sellers is hard when it's long distance. But at some point the sellers need to either fish or cut bait. I offered to buy the place and rent back to them, but they can't guarantee that 60 days will make a difference, and the financing requires that I "occupy" the place within 60 days. You didn't give them a deadline for finding a place? I would have given 30 days, depending on what kind of lock I could get on my own interest rate. I'd also be very annoyed at my attorney for not including that in the purchase agreement. You've got more patience than me. |
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TheOtherMe
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Post by TheOtherMe on Feb 1, 2022 10:01:58 GMT -5
DN3 was told that ever in Podunk Iowa he will not get an offer accepted if it includes a contingency to sell his house. If he ever lists it, they may be homeless briefly. DN3 also said he will be able to have a higher down payment once his house is sold.
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finnime
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Post by finnime on Feb 1, 2022 10:11:19 GMT -5
Our goal is to list our house by February 14th. We have a 39ish-foot fifth wheel, so we don't have to find elsewhere to live to sell our house. Wow, that's fast! |
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Bonny
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Post by Bonny on Feb 1, 2022 10:59:07 GMT -5
Minor hiccup that could be nothing. Potential buyer was doing his own inspection, apparently trying to check stud spacing in one of the walls and punched a hole right through the paneling. Didn't tell anybody, and entered the house without his agent present. I discovered it Saturday morning. Apparently this is a big deal, his agent could loose her license for giving the code to him for access without being present. They lied to cover it up, but were caught in their lie. I'm mad, but not pissed. They agreed to fix it, but finding a piece of 30-year old matching paneling isn't going to happen. I could file vandalism charges, but I don't feel like taking the time to deal with it. For now my agent and I have decided to leave them dangling until we decide how to proceed. I know all the paneling will likely be stripped by any new owner, but my agent is upset at the violation of the realtor code of ethics to allow anyone in without an agent present. She wants to swing a big hammer and make them pay... Tractor, We had something similar; buyer who was a licensed real estate agent but not a Realtor (r) took a hammer tool to our rental house and did about $500 worth of damage during the walk-through while our agent was present. She's a tiny thing and I think she was so aghast she didn't know what to do. She probably should have called the cops. The buyer did find some additional termite damage that the termite company missed but they weren't going to cover the damage he did to other parts of the house. Never in my 40 years of being associated with the real estate business had I heard of such a thing. Neither had my agent. Because the other agent wasn't a Realtor (r) we couldn't file a complaint against the Board of Realtors. I contacted the State Licensing Board to see if I could file a complaint. I was told I could file a complaint but it wouldn't go anywhere because the Licensing Board only deals with matters of licensing (someone claiming to be a licensed agent who has no license) or consumer fraud. I was told I would have to file a lawsuit in a civil court. My agent's broker agreed to pay the $500 damage in order to save the transaction. Sale was around $750k. It still sticks in my craw that *ssh&l@s like that get away with stuff but the bigger picture was we needed to move on. One thing we did after that was remove the lockbox and DH drove the 500 miles to So. Cal and camped at the property for the next five days or so in order to keep the buyer from accessing the property again and possibly doing more damage. The inspection period had expired and there was no legal reason for him to access the property. And sure enough he did try to access the property and DH told him to leave or he'd contact the police. I suggest the same Tractor. Remove the lockbox and make the agent and buyer work through your agent. IIRC, you live close by so make sure windows and doors are locked and you're inspecting the property daily. Good luck. Sorry this happened. |
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seriousthistime
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Post by seriousthistime on Feb 1, 2022 11:01:34 GMT -5
Can I jump in? I am a buyer, not selling my current place right now. I looked at a couple of properties in another state where I used to live, and my DS, DDIL and DGS live, a place that would be suitable for now and for aging in place if it comes to that. I was outbid, but my friends there put out their feelers and I learned of another place potentially for sale by owner, more modest, but also better for me in general. After playing telephone tag with my lawyer to draw up the contract, and for their lawyer to approve it, we went through the inspection and the sellers took care of everything on the list of concerns. We settled on a price that is about what their realtor said it could sell for, minus the 6% commission, so I got a good deal. And for that reason I hesitate to walk away. I also have about $800 into the place with the inspection and lawyers' fees so far. The deal is contingent on the sellers finding another place to live. In almost 5 months they have not been able to find a suitable place. They have bid on a few places but are getting outbid. They think everything in their desired area is overpriced. Looking for another place with more motivated sellers is hard when it's long distance. But at some point the sellers need to either fish or cut bait. I offered to buy the place and rent back to them, but they can't guarantee that 60 days will make a difference, and the financing requires that I "occupy" the place within 60 days. You didn't give them a deadline for finding a place? I would have given 30 days, depending on what kind of lock I could get on my own interest rate. I'd also be very annoyed at my attorney for not including that in the purchase agreement. You've got more patience than me. The original deadline was 90 days to close, and it was extended once. We are out of contract now, but I have agreed to another extension. In my post I said I was not selling my current place right now. I live in a year-round lovely climate. I am buying a place where there are cold winters and hot, humid summers. My plan is to keep my current place and not to spend time at the new place during the winters and summers. Even if we had closed in November I would not be back there until at least March. Having them pay for a place that would have been empty anyway during these months isn't a bad thing. Yes, I lost my lock on the good interest rate but the mortgage would be so low that it doesn't translate into much of an increase on the payment, and is all tax deductible anyway. If I buy a different place now, the price and the interest rate would be higher. |
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tractor
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Post by tractor on Feb 1, 2022 13:30:56 GMT -5
Minor hiccup that could be nothing. Potential buyer was doing his own inspection, apparently trying to check stud spacing in one of the walls and punched a hole right through the paneling. Didn't tell anybody, and entered the house without his agent present. I discovered it Saturday morning. Apparently this is a big deal, his agent could loose her license for giving the code to him for access without being present. They lied to cover it up, but were caught in their lie. I'm mad, but not pissed. They agreed to fix it, but finding a piece of 30-year old matching paneling isn't going to happen. I could file vandalism charges, but I don't feel like taking the time to deal with it. For now my agent and I have decided to leave them dangling until we decide how to proceed. I know all the paneling will likely be stripped by any new owner, but my agent is upset at the violation of the realtor code of ethics to allow anyone in without an agent present. She wants to swing a big hammer and make them pay... Tractor, We had something similar; buyer who was a licensed real estate agent but not a Realtor (r) took a hammer tool to our rental house and did about $500 worth of damage during the walk-through while our agent was present. She's a tiny thing and I think she was so aghast she didn't know what to do. She probably should have called the cops. The buyer did find some additional termite damage that the termite company missed but they weren't going to cover the damage he did to other parts of the house. Never in my 40 years of being associated with the real estate business had I heard of such a thing. Neither had my agent. Because the other agent wasn't a Realtor (r) we couldn't file a complaint against the Board of Realtors. I contacted the State Licensing Board to see if I could file a complaint. I was told I could file a complaint but it wouldn't go anywhere because the Licensing Board only deals with matters of licensing (someone claiming to be a licensed agent who has no license) or consumer fraud. I was told I would have to file a lawsuit in a civil court. My agent's broker agreed to pay the $500 damage in order to save the transaction. Sale was around $750k. It still sticks in my craw that *ssh&l@s like that get away with stuff but the bigger picture was we needed to move on. One thing we did after that was remove the lockbox and DH drove the 500 miles to So. Cal and camped at the property for the next five days or so in order to keep the buyer from accessing the property again and possibly doing more damage. The inspection period had expired and there was no legal reason for him to access the property. And sure enough he did try to access the property and DH told him to leave or he'd contact the police. I suggest the same Tractor. Remove the lockbox and make the agent and buyer work through your agent. IIRC, you live close by so make sure windows and doors are locked and you're inspecting the property daily. Good luck. Sorry this happened. Thanks. I do live next door, so keeping an eye on the place is easy. They offered to fix, but it just wasn't worth the hassle. If it was "live in ready" and more of a detraction, I would fix it and make them pay me. However, in reality, most people will tear the paneling off during a complete gut job anyway. |
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Feb 1, 2022 19:16:16 GMT -5
Our goal is to list our house by February 14th. We have a 39ish-foot fifth wheel, so we don't have to find elsewhere to live to sell our house. Wow, that's fast!
Anyhoo, listing pictures are scheduled to be taken next Tuesday. |
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TheOtherMe
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Post by TheOtherMe on Feb 1, 2022 21:17:19 GMT -5
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seriousthistime
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Post by seriousthistime on Feb 4, 2022 12:48:53 GMT -5
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laterbloomer
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Post by laterbloomer on Feb 4, 2022 17:46:55 GMT -5
Yes, and it's stressing me out. It's what I alluded to in the decluttering thread, and that caused the uproar about what is allowed to be posted in that thread. I had never intended to post in the decluttering thread about the actual selling process.
Anyhoo, listing pictures are scheduled to be taken next Tuesday. In all fairness one post doesn't really qualify as an uproar. |
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Feb 8, 2022 20:50:38 GMT -5
DH and I signed the contract with the realtor this afternoon. It officially goes on the market on Thursday. There is a showing scheduled for Saturday at 10:30am.
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laterbloomer
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Post by laterbloomer on Feb 8, 2022 21:17:13 GMT -5
DH and I signed the contract with the realtor this afternoon. It officially goes on the market on Thursday. There is a showing scheduled for Saturday at 10:30am. Good luck. |
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finnime
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Post by finnime on Feb 9, 2022 6:55:31 GMT -5
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bean29
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Post by bean29 on Feb 9, 2022 15:11:05 GMT -5
Yes, and it's stressing me out. It's what I alluded to in the decluttering thread, and that caused the uproar about what is allowed to be posted in that thread. I had never intended to post in the decluttering thread about the actual selling process.
Anyhoo, listing pictures are scheduled to be taken next Tuesday. There are always so many various subjects in that thread, I have to admit that I was very confused as to which post caused the objections to be voiced. Congrats on listing your house! |
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tractor
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Post by tractor on Feb 10, 2022 9:44:25 GMT -5
Quick update, the contingent offer people have now signed a purchase agreement on their home so we are locked into our original contract. No closing date has been sent yet.
The final day (Monday), we had two different full price cash offers, so the original buyers had to step up. Either way, we're one step closer to closing. Hopefully, we will have something finalized by early March.
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raeoflyte
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Post by raeoflyte on Feb 10, 2022 10:33:32 GMT -5
Quick update, the contingent offer people have now signed a purchase agreement on their home so we are locked into our original contract. No closing date has been sent yet. The final day (Monday), we had two different full price cash offers, so the original buyers had to step up. Either way, we're one step closer to closing. Hopefully, we will have something finalized by early March. Fingers crossed! |
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mamasita99
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Post by mamasita99 on Feb 11, 2022 1:14:40 GMT -5
Quick update, the contingent offer people have now signed a purchase agreement on their home so we are locked into our original contract. No closing date has been sent yet. The final day (Monday), we had two different full price cash offers, so the original buyers had to step up. Either way, we're one step closer to closing. Hopefully, we will have something finalized by early March. Glad to hear you are steps closer to a closing, I know the process can be nail biting for both selling and buying! |
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Feb 12, 2022 0:02:25 GMT -5
Three showings scheduled for this weekend.
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finnime
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Post by finnime on Feb 12, 2022 4:22:01 GMT -5
Knee Deep in Water Chloe, will there be an open house? I'm back and forth on that one. It does inspire more competitive offers, I think, but with the market so hot is probably not necessary.
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TheOtherMe
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Post by TheOtherMe on Feb 12, 2022 10:36:32 GMT -5
A poster on my sports board had offers before he had showings. All offers are due by Sunday at 6 PM and they will make their decision. Started showing on Thursday and have 14 offers, 13 over asking and one a very low ball over that is not even being considered.
More showings today and tomorrow. Put in listing to give your best and last offer because the offers will all be considered on Sunday.
They have no reason for an Open House.
Personally, I never got a buyer from an Open House and I never bought a house I saw at an Open House.
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seriousthistime
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Post by seriousthistime on Feb 12, 2022 11:37:34 GMT -5
I have bought two houses from an Open House.
When I sold my place in 2016, the realtor put it on the market with a big feather flag in the yard that said "Open House Sunday." I had 7 showings in the first few days. We never got to Sunday. The knowledge that there would be an Open House was a motivator for the buyers to get their offers in and accepted before then.
The people behind me recently put their townhouse on the market late one week, then had an Open House on Saturday, then had another Open House on the following Saturday. It went under contract the Monday after the second Open House.
I believe in Open Houses if only to create a sense of urgency in potential buyers.
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Value Buy
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Post by Value Buy on Feb 12, 2022 15:47:18 GMT -5
I have bought two houses from an Open House. When I sold my place in 2016, the realtor put it on the market with a big feather flag in the yard that said "Open House Sunday." I had 7 showings in the first few days. We never got to Sunday. The knowledge that there would be an Open House was a motivator for the buyers to get their offers in and accepted before then. The people behind me recently put their townhouse on the market late one week, then had an Open House on Saturday, then had another Open House on the following Saturday. It went under contract the Monday after the second Open House. I believe in Open Houses if only to create a sense of urgency in potential buyers. With Covid, open houses have almost disappeared, especially in hot housing markets. I have seen a few realtors advertising open houses a week out, but some of those listings disappear before that date arrives. |
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finnime
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Post by finnime on Feb 13, 2022 9:33:05 GMT -5
I've told my realtor that I would like an open house. Partly it's because I bought this house from an open house, and it seemed and seems more fair to me to offer it including an open house to avoid shutting out potential buyers who might not have time to see it otherwise. Let them all have a shot at it.
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Feb 14, 2022 22:04:23 GMT -5
I'm still in my Monday evening college class, so I don't have much information.
DH says we've received a full price offer. I asked him if there were contingencies, and he says there aren't.
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tractor
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Post by tractor on Feb 15, 2022 10:14:09 GMT -5
I'm still in my Monday evening college class, so I don't have much information.
DH says we've received a full price offer. I asked him if there were contingencies, and he says there aren't. Good for you! Now the fun begins, hopefully you can close fast and use that extra $$ for some fun! Actually, I know you probably have solid plans for it, but it is fun to dream... |
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Knee Deep in Water Chloe
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Post by Knee Deep in Water Chloe on Feb 15, 2022 20:27:29 GMT -5
We signed the offer today. We might be disputing whether or not they get our microwave. DH handles this portion of our lives, so I'm not totally sure. We have to be out by March 31.
debthaven - update.
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TheOtherMe
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Post by TheOtherMe on Feb 15, 2022 21:10:59 GMT -5
Congratulations!!! Now to pack your things and house hunt where ever you find jobs.
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CCL
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Post by CCL on Feb 15, 2022 23:39:25 GMT -5
We signed the offer today. We might be disputing whether or not they get our microwave. DH handles this portion of our lives, so I'm not totally sure. We have to be out by March 31.
debthaven - update. That was fast. Congrats! |
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mamasita99
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Post by mamasita99 on Feb 16, 2022 0:21:39 GMT -5
We signed the offer today. We might be disputing whether or not they get our microwave. DH handles this portion of our lives, so I'm not totally sure. We have to be out by March 31.
Congratulations are in order! Hoping for a smooth closing! |
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