Skip to main content

Home listed with no heat?

First time (potential) home buyer here. A house I’m interested in has been on the market 6 months, and in that time the price has dropped 35k. The home has no working heat, but the seller is “willing to negotiate on this”. I’d understand a bit more if they were going the cash only route, but the listing terms include cash, conventional, and FHA. Am I missing something? I thought lenders didn’t approve loans for homes with no heat. The place is a total gem, redone top to bottom (well.. almost). I don’t have a clue why they didn’t handle the heating issue. They say either a new gas line needs to be dug (refundable by area gas companies if you install a gas appliance within 3 months) or a new heat pump installed (my state has excellent rebate programs).

I guess my question is, does anyone have insight into what could be going on behind the scenes? Obviously you can’t know what’s going through the seller’s mind, but maybe you’ve seen something similar? It’s still 15k out of my budget, but I’d like your advice in case it dips into my price range. I check the listing every day; the last drop (20k) was about 3mo ago. Thanks so much!

Note: I haven’t reached out to ask these questions directly because I feel silly, since as it stands the house out of my budget.

submitted by /u/danemama2020
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1iszmdo/home_listed_with_no_heat/
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

How to Avoid Property Scams in Delhi?

Here’s What You Should Know! Commercial Real Estate (Non-Residential) Buying a property in Delhi can be tricky, especially with all the stories about scams and shady deals. If you're in the market, here are some tips to keep yourself safe:Double-check the documents: Always verify ownership and approvals. Don’t just take someone’s word for it—look at the actual papers. Do your homework on prices: Compare similar properties to avoid overpaying. A little research can save you from a bad deal. Work with trustworthy people: Whether it's a seller or an agent, go for someone who's transparent about pricing and the process. If they’re dodging questions, that’s a red flag. Ask for reviews or references: If someone you’re dealing with has a good track record, they won’t hesitate to share testimonials or connect you with previous clients. I’ve noticed that some property services have started focusing on things like verified listings and clear communication, which makes the whole proc...
Post a Comment
Read more