House shopping

[EKC Farms in the desert]

Well we have been searching for houses since last October. Finally started getting serious and looking at houses. We put a bid in back in September, and everything was looking good. We had the house inspection and the inspector found a few negative things. So we asked the listing agency to fix some of the things. Well we found out that the lister no longer wants to move forward with us, because of the amount of money they would have to put into it. I asked our realtor if we take some repairs off the list and offer more money, if that would be an option. But I haven't heard back from him. (Hopefully tomorrow!) I am so totally bummed out that I could probably cry. We did so much work and research for this house. Its perfect for us. Nice flat property and fully fenced in already. Very secluded- thanks the the neighbor in the front having their 3 acres covered with small trees. Im still keeping my fingers crossed for this to come true. We have already had 2 houses that were on the market, we liked a lot and when we went to put bids in and they were already spoken for. Going to keep praying!

 

[LarryPQ]

Good luck!

 

[EKC Farms in the desert]

Thanks!! Just have to keep my head up and hope for the best. We really want this house.

 

[Mattemma]

Did you say you took repair demands off the table AND increased the amount you are willing to pay for the property? The seller would be a fool to not jump at that.

I am seeing house go left and right for 30k or less around us.It is killing me as we paid trpile for ours only 6 years ago.

I know you like the house, but there will always be others.Consider carefully what you are offering.These days you are looking at putting more money into a home,and you will unlikely see a return on that. Not an issue if you plan to live there till you die.Me, I don't care. I figure you pay whether you rent or own.

If it were me I would only offer to take repairs off the table,but I would lower my purchase price offer to cover some if not all of the repairs.In the least take repairs off but keep the purchase price offer the same.The seller is getting a deal.Others will want the repairs done too.Are there multiple offers on this home? How long has it be on the market.What are the repair issues?Could the realtors be trying to get a higher purchase price out you seeing how emotionally vested you are in the home?

If the seller agreed to your original offer prior to the repair request are they required by law to honor that? The ball could still be in your court if you just remove the repair request and pay the original price both parties agreed on.A real estate lawyer can tell you if the contract is binding if you think it is,but the realtors are saying it is not.


Regardless of what you pay I hope you get the home and are happy with it!!!!!!

 

[cassie]

There are other houses out there, especially in today's market. Just make sure that there are no covenants, deed restrictions or HOA's to contend with on any property you buy.

 

[Capvin]

EKC...you are very fortunate to be looking for a house in today's market. I do not know where you live, but almost everywhere in the country houses are a bargain an normally sellers are very happy to negotiate almost anything for an opportunity to sell their house. Also, mortgage rates are very low. Dont get discouraged and dont be afraid to bargain because in the end you will find a house you like for a bargain price.

 

[EKC Farms in the desert]

Quote:
The house has been on the market for almost 2 months and the listing agent told our realtor we are the only people to call about this property. Last night my realtor emailed and said they wouldn't be able to move forward with us, because of the amount of money it would cost to fix it the property would pretty much put them in the hole. We are trying to get a copy of the quote our realtor sent over, he said today he should be able to send it over. The house needs to be re-balanced (a manufactured home) and it needs proper grading. The house was built in 1998 and they didn't install proper rain gutters, so the rain just goes down the side of the house and underneath the home. So its pushing the dirt underneath the house and making the side walk cave in. We already paid $300 for a house inspection. Once we get a copy of the bid we are going to see if we can have the fix the foundation and rebalance issue and then probably offer them more money for the house. We are using the VA loan, so the house has to be perfect to move in which means there was 2 cracked windows to be fix, a water pump/tank needs to be installed, and now the house rebalanced. The seller (a bank) agreed on fixing a window and adding the water tank. But when we asked for the 2nd window and foundation, they pulled out.

So just waiting to get a copy of this quote, so we can move forward.

 

[EKC Farms in the desert]

Quote:
We are avoiding HOA's like th plague. We will continue to keep looking...

 

[EKC Farms in the desert]

Quote:
Thanks Capvin! We are looking for a house in New River, AZ. We currently live in Phoenix. We want to move a few miles north east, to get out into the desert. So we can have peace and quiet (expect for the coyotes howling at night) and see beautiful stars every night. Hoping things go our way... we already have the coop planned out and the garage planned out for this property. Im not giving up yet.

 

[LiLRedCV]

I understand your desire to buy a house and what a pain in the tush when you finally do decide to make that commitment and can't find what you're looking for. When you do find that house, it's an exciting feeling.

But if the seller agreed to one price - we all know the deal was pending the inspection - and now wants to back out of the deal due to the costs of repairs, I darn sure wouldn't "forget the repairs" AND add more $$$ to the offer. If you have a lender, they may not agree to the deal given the repairs that need to be made either.... Can you afford the house AND the repairs? If so, keep the offer at full price and drop the request for the repairs. I'd recommend if you're willing to drop the repairs, to lower your offer tho' by at least a 1/2 of the expected repair costs, maybe a 1/4 of them.

There will be another house, in much better shape, and at a price you want to spend.