Skip to main content

Tell me if you’ve heard this one before

So after months of searching we found a house and went under contract. First thing is we got a home inspection. Nothing major was found, except the stove wouldn’t light and the fridge was not the best. Also evidence of mice was found behind the stove. There were a bunch of minor things in the report too, most things I can take care of myself. Although I may need a plumber for the shower, nothing comes out when turning to hot. So my lawyer submits a request for an $8000 credit, I know this is high and was hoping for a counteroffer around $4000 or $5000. Instead we received an insulting email from the sellers lawyer that we are crazy and there is nothing wrong with the stove or plumbing in the shower. They offered $500 in credit. I should note the seller has already moved out of state and has been trying to sell since June. My realtor who is awesome went back to the house and took a video of the stove not working to prove to these people that it didn’t work. So now they hired a handyman, who did fix it. And apparently called out an exterminator for the possible mice infestation, I have not seen receipts. Ok all good, let’s just close because we need this house and there is nothing else in our price range where we’re looking. All day we’re waiting to hear from the title company about how much we need to bring to closing the next day. At 345 pm the sellers lawyers office emails that the seller has not signed the docs and doesn’t have the $17000 cash he needs to close. Apparently this dumbass stopped paying the mortgage when he moved out in June. And also it seems the lawyers are in a pissing match with each other because his lawyer refuses to get back to my lawyer either on phone or email. Our realtor has gotten more answers from the other realtor than our lawyer has gotten. So basically we gave him until Wednesday to come up with the money or we’re walking away. And filing suit for breach of contract. And getting a different attorney because our lawyers have been awful. Will never use them again.

submitted by /u/dimeshred24
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/qjq590/tell_me_if_youve_heard_this_one_before/
Labels:

Comments

Post a Comment

Popular posts from this blog

Aren't comps/CMAs useless with buyer credits at close happening now?

I'm looking into buying a new construction townhouse in my HCOL US city. I'm seeing builders offering interest rate buydowns worth $20k-$60k on $800k homes (rather than just lowering prices) in order to keep their comps high for their other units, now that buyer demand has been declining. I asked my agent about these, and he said these buydowns aren't even the full story: buyers can write all kinds of other credits into an offer, like their closing costs, prepaid sewer fees, etc. Apparently cash buyers can just write in a "buyer credit at close" for any amount in their offer. So a new townhouse that appeared to sell for $800k in the MLS might have actually been a cash offer with a $100k+ buyer credit at close, meaning the buyer only spent $700k or less in total, but to the rest of the world they can only see the $800k! So that made me realize I can't trust comps/CMAs for other new construction townhouses. The sales prices could be way lower than they appear...
1 comment
Read more

Obtaining a real estate license as a hobby?

Hello, I am 24 years old - 2 years out of college and I have my main job. I was looking to get a real estate license (in California if location matters) as a hobby/for fun since I like real estate ever since I was in high school. In the past 2 years, I would go to open house in the weekends to look at homes for fun. I don’t plan to practice real estate full time as I have my main job but I am curious are there any benefits to this? In the future, I plan to own multiple properties and have rentals, so I was wondering if getting a real estate license can help me with it? Thanks submitted by /u/AlohVera [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1f0qx9i/obtaining_a_real_estate_license_as_a_hobby/
Post a Comment
Read more

Advice? Moved out of my primary residence and now renting

I moved out of the house I own in August 2021, I lived there for 8 years, I have been renting an apartment the past 3 years and renting out my house. My current tenant is moving out in September. I seem to have just missed the living 2 years out of 5 years rule for being exempt from capital gains tax and my house being a primary home. Any advice on what the best thing to do would be moving forward? Continue to rent out my house? I'm happy with my rental, but wouldn't mind buying another property down the road. I could sell my house down the road and try to do a 1031 exchange? Moving back in my house isn't ideal because it's an hour away from where I currently live. I could take a HELOC perhaps and try to buy another property and continue renting for the long term? I do have a 2.4% mortgage rate on the house so I don't mind keeping it for a while. Thanks for everyone's advice. submitted by /u/Ok-Top-7859 [link] [comments] source https://www.reddit.co...
Post a Comment
Read more