First time home buyer here. Looking at buying a home that I’ve learned is owned by an LLC since the beginning of this year. From public records last year it was owned by an older gentleman. I am wondering if it’s a good idea. Tried to look up the llc the only thing I can find is an address to another residential house here in TX. The hous was built in 1940s and was remodeled nicely, but still has some issues that need to be repaired from their inspection report- but it’s has a new roof, no leaks, and pier and beam foundation with some settling, nothing urgent. Their realtor/rep says seller put so much money into the remodel that the things such as crawl space barrier-they did not want to repair, they’re saying it’s the inspector’s job to find things and every little thing doesn’t need to be fixed. They did fix some of the things. But nothing major came up on their report, other than asbestos siding and it’s been painted over. No word on if it was replaced. I will have my own inspection, but I’m Leary about buying from an LLC. they were hard to budge with negotiation and verbally agreed with my realtor that I would pay full list price for the house, they would pay less than half of closing $4k, (we initially asked for 9000, then 5000”they said no)and they will pay for title. Their reasoning they put so much money into the remodel it wasn’t worth it to them to give that much concession for closing, so they’ve agreed to 4k. The house is 215000, 7.7% 30 year fixed. By the way home insurance is insane- but this is coming from someone who has only had to pay renters insurance anyway…why’d? I’m sure my lender will also do theirs appraisal.
[link] [comments]
source https://www.reddit.com/r/RealEstate/comments/1nroi9s/buying_from_an_llv/
Comments
Post a Comment