Skip to main content

Posts

Buying new homes, builders ghosting after asking for inspection/appraisal contingency

We have been house hunting for the past couple of months. Primarily focused on the new builds in the greater Cincinnati area. These are the experience with different builders: We went and toured the house. The house was about to be completed. It seemed overprice, after a while we settled on price. But after asking about inspection/appraisal contingency, the builders agent started ghosting us. We reached out back to this builder whose house we have toured before. This house has been sitting for 10 months. Settled on price but asking for inspection/appraisal contingency, the builders agent flat out refused us. We had a real estate attorney helping us out. We had no choice but to walk away. Is this common? People just sign the new build contract by waiving the inspection/appraisal contingency? Researching further and it seems most new builders here follow the same template. We are very close to giving up on buying new houses and start exploring older houses? Any advice/recommendatio...
Recent posts

Why don’t all people refinish their hardwoods blonde?

I’ve been in the real estate business since 1993 and over that time, rental and Sales listings with blonde hardwoods sell for the highest amount and sell most quickly. So why wouldn’t all owners want blonde hardwoods at the time they are ready to refinish their floors or install new floors? submitted by /u/Weird7954 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1x5q2lp/why_dont_all_people_refinish_their_hardwoods/

Is this a good contract deal?

Here’s the deal I struck with a contract buyer: Purchased 2024 at $370,000 Owe: $288,400 Paid out to me this month: $32,500 October 2027: $5000 October 2028: $5000 October 2029: $5000 He pays all the closing fees. Legal clause in contract: If he misses 3 payments in a 12-month period, the house and deed go back into the name. He wont because he owns like over 75 houses. He pays my legal fees too. I have it listed with a realtor right now with no showings in two weeks. The market is rough right now selling in Iowa, and it’s only getting colder. If I sell it at $350k I’m basically making the same amount of money after realtor commissions. I’m still considering it because I have about $40k in debt I want to pay off. submitted by /u/TCPisSynSynAckAck [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1x5czng/is_this_a_good_contract_deal/

As a realtor what do you do in this instance

For preface I am a buyer. There is a home that has been on the market over 150 days. From what I can see, there has been one offer that was later withdrawn and the asking price was lowered around $20k. I put in an offer at listing price. They messaged my realtor saying that they wanted $ 1 more than was I offered (the listed price) and said they will not complete any repairs or offer any concessions. I was fine with that because i will have money left over for repairs. We have also asked for a disclosure multiple times but still haven’t received anything. My realtor sent a revised offer and they have not replied since. The offer is due to expire today. To me it seems like the seller doesn’t really want to sell the home? Is this normal behavior? As a realtor would you let a seller do this type of thing? submitted by /u/Own-Negotiation-1422 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1x56kuj/as_a_realtor_what_do_you_do_in_this_instance/

Has anyone else also gone through a foreclosure recently? I’d love to hear your story. You’re not alone.

So before I go any further, please be respectful. I’m being vulnerable here and sometimes, Reddit is a breeding ground for superiority complexes. So for context, my wife and I bought a house in California in 2023; we were making good money and we lived comfortably. We had money in the savings, could afford everything easily, and things were going really well. Then it hit us like a ton of bricks. Around a year and a half after we bought our house, my company made the decision to restructure to cut costs, so they laid people off and drastically reduced our hours for the people that were left. I went from working 60 hour weeks for the past 8 years to suddenly working 35-40. It was a punch to the gut. Then a month later, we get hit with an escrow shortage and our mortgage went up $1000 a month(apparently we’re in a fire zone so insurance skyrocketed) we have a son with autism, so us working two jobs wasn’t plausible, but two jobs still wouldn’t have been enough to compensate for all that...

Closing might be delayed by title company because someone was out of office?

So all last week apparently nobody worked on my file because the processor working on it was on vacation all week and my closing date was supposed to be this week. This company has it setup to where nobody else can access the file at all except the person it’s assigned to and if they are OOO you’re just SOL. Mind you they have 100 employees and multiple locations. Is this normal? Cause it seems kinda dumb to me submitted by /u/8WmuzzlebrakeIndoors [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1x492it/closing_might_be_delayed_by_title_company_because/

Can I request some time after the closing to move out?

I’m “right-sizing” and getting ready to sell my house and get an apartment. My biggest concern is signing a lease and moving out before the final closing and then the buyer backs out at the last minute, leaving me stuck with the ongoing mortgage payment and the new rent payment as well as moving expenses. Do buyers ever agree to let you have a couple of weeks to a month to clear out after closing? Or is there some time between the due diligence period and the closing when they can’t back out? submitted by /u/PenisBeautyCream [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1x3yxet/can_i_request_some_time_after_the_closing_to_move/

Still making payments on a house we mean to sell, as we never want to return to the area. Great rate. Stupid to sell?

We have a mortgage on a house in a big city, 4% interest. However we have no intention of living in that city again, and the house is a single family home. We could rent it out with no guarantee the tenants would upkeep the place. Would it be stupid to sell right now? Should we rent it out and deal with the issues that are sure to arise? submitted by /u/SeniorDay [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1x3bxlg/still_making_payments_on_a_house_we_mean_to_sell/

Thinking of walking 12 days before closing

I am in the process of purchasing a home. The house is being purchased for $595k and we are putting 10% down. My wife and I make a combined $300k. The problem is the closer we get to closing the more I realize that I do not want to spend $4300(taxes and insurance) a month on a mortgage plus the increased utilities that come from a much larger house. We can afford it but I just don't want to do it. I am big on morals so I hate not upholding my word or a contract but I seriously do not want this house. I don't even care that the sellers get to keep our $5k earnest money. Has anyone not walked away last minute and regretted it? submitted by /u/MrIAmMe2 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1x2xbvl/thinking_of_walking_12_days_before_closing/

The dream house at the right price… with one catch: an in-ground pool. Would you buy it?

We are looking to buy in a HCOL city and home to the #1 school district including the #1 ranked high school and #1 ranked elementary school in our state. Homes demand a premium price if they are districted for a particular sequence of schools, which we would love. However, there is only ONE home in that particular neighborhood, that is within our budget. This could be our only chance to buy a house at a good price in that particular neighborhood. But it has a pool. Our agent said that it's probably why it's not selling (we live in the midwest where people are ambivalent, at best, about pools.) Would you buy it? ... What if you had three tween boys with unlimited energy and love swimming and being in the water? (We just moved away from the lakeside.) Spouse and I both work and would have some money set aside for running and maintaining it, but we aren't rich and wouldn't look forward to paying for repeated big ticket repairs. Filling it in for 10k$ would be an opti...