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Old 05-11-2010, 05:34 AM  
blackandgold8
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Still in a battle with these guys. This is so stressful.

These guys wont budge on replacing the boiler and oil tank. They offered me a home insurance plan they would pay for, for the year. Its $490 dollars. The plan, I see, only covers up to $1500 of repairs, doesnt pay for the repairman, and doesnt cover the oil tank or any hazardous waste cleanup (should the oiltank patches break).

Thing that really grinds my gears? I wrote the sellers a two page letter detailing everything wrong, with the cost to fix it (from estimates), and their realtor never even gave it to them because she thought the deal would be off if she did....



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Old 05-11-2010, 05:42 AM  
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Then contact the realtor again and tell her about the law where she needs to fully disclose everything she recieves to her client. And if you get no response, contact your dept of consumer protection, they have a licensing division that will contact her.
Can you tell I love realtors??

And then run....this is your chance to keep looking and find a home worth more than $8000 if you think about it.



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Old 05-11-2010, 06:04 AM  
blackandgold8
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Then contact the realtor again and tell her about the law where she needs to fully disclose everything she recieves to her client. And if you get no response, contact your dept of consumer protection, they have a licensing division that will contact her.
Can you tell I love realtors??

And then run....this is your chance to keep looking and find a home worth more than $8000 if you think about it.
Yeah, I guess I need to trust that the market isnt changing anytime soon and I might be able to make that $8k I missed on the credit by falling prices.

I suppose I need to get less attached to this house and look at it as a money making opportunity, rather than dumping all this money in and not making any return on it when I sell. I know its much more than "money making", its your home, and truthfully I probably wont make much money on any house when I sell it, but of course its best to think of ways you can improve a house than ways you can just do "expensive upkeep", like this is...
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Old 05-11-2010, 06:23 AM  
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The results of the inspection report has to be made available to any prospective buyer. Any problems uncovered cannot be covered up or not made known. Failure to fully disclose carries pretty stiff penalties. You may have a bargaining tool here.

And remember, Realtors don't work for the buyer, they are paid buy the seller. The agent wants to make a sale, you have to live with their eagerness to earn a living. When you start to question whether its a good deal or not, sometimes it isn't. As inspector refereed to, don't let the Realtor not do their job. Theres other Realtors and other houses, in fact a lot right now.

If you bought the house, made the repairs, would that put you upside down on value? Also what are the market value trends in this neighborhood?

Hang in there, house buying ain't easy.

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Old 05-11-2010, 07:11 AM  
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If you bought the house, made the repairs, would that put you upside down on value? Also what are the market value trends in this neighborhood?
Well, the house is selling for 171k. Id have to put about 20k into it for repairs, minus the tax credit, so about 12k out of pocket. Id also have to remodel the kitchen and bathroom, so another 12k if I go budget with Home Depot/Lowes. This puts me about 195-200k into the house.

There are homes in the same circle selling for 230-240k range, but they are bigger ranches (1400-1600 sq ft), compared to this one being only 1090 sq ft. So maybe I could sell it for 210k? Not much profit, if any, right now unless I should be anticipating an upswing in 5 years.
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Old 05-11-2010, 03:01 PM  
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You may want to factor in more things in your math. What are loan costs, interest fees, taxes, insurance. Its not only being upside down. If you are considering buying, and then selling in 5 years, you might be better off renting.

What will your mortgage + taxes be? What can you rent for that dollar amount?

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Old 05-17-2010, 07:09 AM  
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Look on the realtor's card to see what professional orgs she belongs to and write to all of them detailing her conduct.

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Old 05-17-2010, 02:00 PM  
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Quote:
Originally Posted by blackandgold8 View Post
Still in a battle with these guys. This is so stressful.

These guys wont budge on replacing the boiler and oil tank. They offered me a home insurance plan they would pay for, for the year. Its $490 dollars. The plan, I see, only covers up to $1500 of repairs, doesnt pay for the repairman, and doesnt cover the oil tank or any hazardous waste cleanup (should the oiltank patches break).

Thing that really grinds my gears? I wrote the sellers a two page letter detailing everything wrong, with the cost to fix it (from estimates), and their realtor never even gave it to them because she thought the deal would be off if she did....

So then the Realtor is only worrying about their cut and not about getting you into the right home for your money. I would walk. Find a new Realtor and a new home. It doesn't sound like this is going to work out well for you.


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