Skip to main content

Agent seems to only dissuade me from buying and I'm not sure if this is a sign that they are looking out for me, or not.

I've been working with an agent for a few years. Over that time I've put in a several serious offers, with one having gone under contract. During inspection it came up that the roof replacement advertised in listing was unpermitted and shoddily done- but apparently that's common in my area. The house was affordable enough that I probably could have fixed it eventually on my own. My agent said that the issue was a 'deal killer.' They also said that the seller's agent was telling us to terminate as soon as the roof issue came up and insinuated that the house would not be worth the trouble as the seller was hostile.

I thought that that meant my agent was great and looking out for me, but now I'm not so sure.

I absolutely fell in love with a house a few days ago that is everything I want, in the location I want, and all vintage inside. It's basically untouched since the 70s, which is of course good and bad. The bad is the seller (a trustee) has no information about when the septic was serviced, the roof condition, etc (even though it's had the same owner for over 50 years). A sink had visible dirt backup in it which likely means major plumbing issues. I looked into getting an FHA 203k loan and thought I might have a shot because the house clearly needs work, and Id be taking the work on myself rather than asking for seller credits. I had a second visit with a contractor friend set up. Then my agent said there were already six offers on the house and I should give up. That they'd never consider an FHA loan. However, the seller hadnt cancelled the appt we had for the second look- which makes me think none of those offers was amazing enough to take. I qualified for the asking price plus significant additional funds for renovation. I also asked about sending a letter saying how much I loved the house and that I didn't want to change it, but apparently that was a stupid idea and is prohibited now.

My agent insinuated they probably have cash offers with waived contingencies?! which seems nuts. It's priced similarly to other houses in the area, its not cheap enough to be a flip. Another house I had put an offer on a couple years ago that had several other offers ended up having to drop the price when inspections showed that the septic needed to be replaced.

Anyway, I'm just wondering if this agent is looking out for me, or whether they are just trying to get rid of me as a client but don't quite know how.

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

source https://www.reddit.com/r/RealEstate/comments/1s415wg/agent_seems_to_only_dissuade_me_from_buying_and/
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

Pool fill without engineer oversight

We are in the process of purchasing our first ever home in CA and we just discovered in the disclosures that the new build property we are purchasing previously had a swimming pool which was filled without an engineer onsite to approve the work (details from disclosure below). Is this something we should be concerned with or not? Is it something we should have additional inspections conducted on? We are originally from the UK and not really sure what to do with this information and if it is concerning or not. A POOL DID EXIST PREVIOUSLY. COPING, TILE, GUNNITE AND REBAR WERE ALL REMOVED AND DIRT AND CLEAN DRAIN ROCK WERE USED TO FILL IT IN. COMPACTED FILL WAS NOT USED AND NO ENGINEER APPROVED THE DIRT AND DRAIN ROCK FILL IN submitted by /u/tommot82 [link] [comments] source https://www.reddit.com/r/RealEstate/comments/dpyzw8/pool_fill_without_engineer_oversight/
Post a Comment
Read more

Making offers on houses not listed for sale.

I want to buy a home for retirement. I am looking at lots of options, mostly focusing on the locations that appeal to me. I see lots of Zillow estimates of homes that look like great deals to me. Are these estimates accurate, even though similar houses in the same area that are for sale are usually priced much higher? If so, is it realistic for me to try to make offers to owners that do not have their homes listed? Would a realtor even consider helping me do this? Or, do these values indicate that the houses listed for sale are overpriced, and I should just lowball until someone accepts? Are houses today tending to sell far below list prices, or ??? submitted by /u/chewybrian [link] [comments] source https://www.reddit.com/r/RealEstate/comments/1o4mcon/making_offers_on_houses_not_listed_for_sale/
Post a Comment
Read more