Need to vent!

[Menlaan]

Sounds like it could be a ploy by the seller or the agent. Be cautious about requests for more money . . .

Menlaan

[The Kizzy]

Thats illegal.

[Harrison]

Thats illegal.

That sure does stop people from doing all sorts of naughty stuff!

[The Kizzy]

Well, you may have a point, but when real estate is your life and a lucrative business for you, you tend not to do things that can get your license suspended. This month alone in my office, I am working on deals that will bring in a gross commission of over $200,000 dollars. That is between 9 agents. It is one hell of a month.

[Gypsiyee]

Our realtor is buyer's agent.. so I doubt it's a ploy by the seller seeing as our realtor is working in the same office as the actual listing agent. They'd both risk their jobs and license by setting up a scheme.

[KILL]

it does happen. your agent doesnt nessecarily have to be in on it either. could just be the listing agent screwing with you.


real estate deals bring out the worst in people. buyers, sellers AND agents


good luck

[10sun]

I just came back from a Real Estate Ethics continuing education class.

I don't know the laws in the great white north, but good luck. My friend is putting in an offer on a house tomorrow through me and I heard that another offer came in earlier today. Business can be yucky sometimes.

-Adam

[Gypsiyee]

Well, we did find out today that there's nothing out there but dial-up, and that could be a deal-breaker for the better half.

Whatever happens is for a reason.. I just have to keep that in mind =b

[The Kizzy]

You should call the cable company and ask them when they plan on getting cable connections to that area, same with the local DSL providers.

[Gypsiyee]

They don't know.. see, the thing about where I live is it's tons of country with a little bit of city in between

The Town of Lebanon has 1500 people I believe.. it's unincorporated and incredibly small. The "city" consists of a railroad track and a cheese factory.

I don't see them getting cable anytime soon out there >< even sewer is quite a bit in the future.

[The Kizzy]

Well, I'm all out of ideas. Good luck

[Gypsiyee]

Well.. the seller got greedy when he saw three offers

he's countering 2 of the 3, one of them being ours, but he's countering for the full list price and is now refusing to pay for an inspection that he said he would originally

Now our dilemma is we don't know how much the one is going to offer back, if they'll even offer at all

Had we just seen the house a week sooner..><

[Menlaan]

It sounds like he's scamming you. Too much of a coincidence: "wow, the same day we got your offer we got 2 others." I'd walk away. By bidding more, the best that could happen is that you pay too much for a house if you win (i.e. the "winners curse").

Good luck,
Menlaan

[The Kizzy]

Actually, Menlaan it happens more often than you think, it is a coincedence. Just offer with what YOU feel comfortable with, and if the seller says no, then find something else. Come move to Cleveland Area. I'll hook you up.

[Tacks]

Act like there is nobody else involved other than yourselves. Is it worth to YOU what you are offering? Is only having dial-up that big of a deal now that you're going to have a house together? Won't you be doing shit together more often now? who cares about internet. If the price seems fair to you then offer that, don't worry about what others offer.

[Gypsiyee]

we already have a house together =) we just want a bigger one as the idea of a family approaches, and our tiny house won't cut it with children in the picture.

dial-up isn't a deal breaker for me, but it is for him. he still games a bit (coh, etc) so he doesn't want to futz with dial up.

i think we'll counter at 7 higher than our original offer (which was a total low-baller) and will be somewhere in the middle from what he's asking and what we're offering. with any luck the other people will say hey fuck you selfish jackass countering so high, and say they don't want it

oh plus, i should mention, the house is already listed about 5k lower than market value.. so it's well worth what he's asking, it's just a little more than we can afford if we don't sell our house first. see.. if we could wait to sell our house it would be no big thing at all.. it's just the few months to sell our house that it might be rough.

[The Kizzy]

Hmmm, look into your local banks, and ask about a bridge loan. They will take 85% of the value of your home and pay off existing mortgages, and you get the rest as a down payment, to make the mortgage on your new house lower. You also don't have a payment for 6 months on the original house. Only thing is, if you DON'T sell the original house in the 6 months, then you are stuck with a 15yr loan, hich is higher than the normal 30yr loan.

For those who didn't understand that.............

Your House you live in now is worth $100,000. The Bridge loan will give you $85,000 to pay off the mortgages on the orignal house, and lets say that mortgage is $70,000. You have $15,000 MORE to put down on the new house, which will make your payments cheaper. You then have no payments for 6 months on the old house. That should be enough time to sell it. When it does sell, and lets say it sells for $100,000 after you pay realtor fees ($7,000 ish) and closing costs (another $4,000) you have an additional $4,000.

Also, when you list your house, pay attention to what the realtor is charging you. The Normal is 7%, but pay attention to who advertises more in the local papers. For instance, we have the back page of the Cleveland Newspaper every sunday, and we advertise in Harmon Homes, and we do free color brochures for the take one box. What the real estate company will do is IMPORTANT. You don't want to pay 7% to someone who will just put your lisitng in the MLS system, that narrows down alot of prospective buyers. YOU are also the boss, tell them you won't pay more than 5%, and work your way from there. Also, tell them that if you hold an open house that brings in the buyer, you want a break.

Let me know if you have any questions.

[10sun]

6% is the norm in my part of Ohio. Anybody who charges more is greedy as they don't provide more services than my brokerage does.

Those that charge less don't advertise *shrug*.

-Adam

[The Kizzy]

6% is the norm in my part of Ohio. Anybody who charges more is greedy as they don't provide more services than my brokerage does.

Those that charge less don't advertise *shrug*.

-Adam

Exactly

[Captain Insano]

My goodness..

So frustrated today - last week, we found this house that looked fabulous from MLS.. so we called the listing agent and set up a showing. We saw the house Monday, and as we expected, it was gorgeous, perfect, unique, everything we want out of a house right now, and for the right price.

So last night, we write an offer. Hardly any contingencies (just that we didn't know if it had cable, we just wanted to hurry and get the offer in, so we put in the offer that we wanted the area to have cable internet access) We're willing to close in 2 weeks, not contingent upon selling our own house or anything.. might be rough for a couple months, but we don't want to risk losing this house!

So this house, since it's in a little small town and doesn't get much advertising, has been on the market for about half a year with no nibbles. We finished our offer last night.. and it'll get sent in today as the seller has no fax access except at work

THEN, I find out just now that 2 other people wrote offers today! Just my luck, what are the odds.. no nibbles for a HALF A YEAR, then 3 offers on the same damned day

=( cross your fingers for us!

QUICK BURN THE HOUSE DOWN, THEN THE OTHER PEOPLE WON'T WANT IT AND BACK OUT! YOULL WIN!

[Captain Insano]

Well, we did find out today that there's nothing out there but dial-up, and that could be a deal-breaker for the better half.

Whatever happens is for a reason.. I just have to keep that in mind =b

Do they have the new Verizon EV-DO network coverage there? If so that is pretty much broadband and can be had for 70 a month and PCMCIA card.

[Gypsiyee]

Netwurx is going to go out there and see if they can get their wireless broadband out there.. from what they say it shouldn't be a problem at all, which would be great

Kiz - I forgot all about bridge loans.. as soon as I can put it in simple words for scott so he understands what that means we might just look into that. Thanks!

[Tacks]

It's still funny that intrawebz is that important to him. Perhaps you need to flash your rack more often?

NO! We are NOT moving there because I won't be able to winz0rz at my Doom 12 championship mode ver 6.0 without cable modem!! OMGZ OMGZ.

[Gypsiyee]

I wouldn't want dial up either, honestly. I still game too, and it's a pain in the ass. When one of your primary recreational activities consists of online gaming, who wants to deal with that?

Not to mention he's a network admin and works from home sometimes via citrix etc.. dial up is just an all around nuisance.

at any rate, there are some things that are deal breakers for people.. if that's one for him, that's fine - i know i'd surely rather him game a few hours a week than say we can't move because there's no local titty bar

[Insanityfair]

I heard Gypsiyee say titty bar, and I'm one state over...omw!

Seriously though, it sounds like you guys do a really great job compromising etc. which is probably part of what brought you to the getting a home together for a family situation in the first place. Good luck with the house!