I would walk, if the idiot is motivated he might move on price. You just never know.
With a attic that cant be clearly inspected conveniently piled with junk the roof joists MIGHT be rotten.
If you proceed with sale borrow enough to replace roof after DEMANDING COMPLETE ACCESS TO ATTIC AND GET 3 NEW ROOF ESTIMATES any patching is just wasted money and allows more rof damage:(
home buying is so stressful:(
How does his delaying closing by a month cost you $350 in interest? You only pay interest starting from the day your loan is closed. I could see it costing you an extra month's rent, interest, etc where you are already living, but you have to pay to live somewhere anyhow, whether its the new house or someplace else, don;t you? Things like a delay in closing happen all the time. With a home, you're going to be in for a lot more aggravation than this.
As to whether to take it as is or walk now that the seller won't give any credits for repair, that depends entirely on how the house is priced and how much the repairs are. If the house is well below what similar properties that don't have these issues have sold for, then it could still be a very good deal. If it's priced close to similar properties without repair issues, then I'd walk. Also, keep in mind that the housing market has slowed drastically. It;s no longer a seller's market and he may not find another buyer easily. He is also under some pressure, perhaps considerable pressure, in that he already has a home he is committed to closing on. If you play hardball, he may reconsider. In this market, I'd be in no rush to buy anything, unless it was a very good deal.
What in the above makes him an idiot? Is the house a good deal at the price? We don' t know that.
The fact that he has no place to move to so he want to stay until he does? What would you do?
Sounds like a person that wants to keep a roof over his head and get a fair price for his house when he moves.
The fact is that he has been difficult to do business with. Everything I have asked him to do, he has refused. I offered him full price for the house, but that he help with 1/2 of my closing costs, and he refused. In turn, I gave him full asking price, and i'm paying my closing costs. Now I'm asking for some money for needed repairs, and he is refusing again. I'm fed up with it. This is my first time buying a home, so perhaps this is normal, but I'm going to take the advice of many in here and bail out. This isn't the only house in town, i'm ready to do business elsewhere.
Edw> >> . In addition, we were planning on
No one ever helped me with my closing costs. I'd certainly not help you. Reality is, if you want me to contribute say, $2000 to closing cost, I'm going to want to get another $2500 for the house. Once you learn the "no free lunch" theory of life, you will be much happier. You agreed on a price,. That is the way business is done, not by whining afterward for some concessions.
What you haven't told us is how the house is priced relative to other similar homes that have actually sold. Any real estate agent should be able to give you 6 comparable properties that have actually sold recently.
If the guy started out asking $190k, and is now down to $160K and the house is a great deal compared to other properties at that price and factoring in the cost of needed repairs, then he isn;t being unreasonable in not cutting the price. On the other hand, if similar houses can be had for the same or less, then the situation is different.
It's quite normal for the seller to either make repairs or reduce the price accordingly, unless the house was originally priced with those things factored in. Not every little thing always gets fixed, but larger items mostly. This condo sounds like it needs quite a bit of work, some of which is pretty major. I think he's smart to look elsewhere.
CWM
While it is quite normal, those things are discussed and agreed upon then the deal is sealed. You don't complain after that you didn't get what you want.
IMO, (different than yours) none of the items are major and sound like normal wear on a 25 year old house. It still comes down to value versus selling price. If the house, as is, is priced right, you just buy it. If not you move on before anything is signed.
He refuses to allow the attic to be inspected. That makes him an idiot, and none of the other information reverses this FACT.
Then you should. You say this is your first time buying a house. I just went through that, and it's pretty stressful. You need to decide how much it will cost to fix what needs done. If that is, say $10,000 and he's asking $150,000, is the house worth $160,000 to you? If so, it's a good deal. If not, walk away.
The other houses in the area are selling for a little less. between 115 and 122.
JoeSpareBedroom wrote:
Assuming a standard offer, the contract would be contingent on a home inspection. (At least it was for me.) Expecting remedies to issues from an inspection (or refusal to allow an inspection) is pretty normal, and certainly not whining for concessions. The buyer has every right to ask for remedy, and the seller has every right to refuse. (Though, at least in Ohio, anything found in an inspection must be disclosed to future potential buyers.)
We ran into a very similar situation with a house we *almost* bought a few months ago. The point about a reduction in the price not really amounting to much when you're paying a mortgage is important.
What you should see if you can do is 1) get a good roofing contractor out there to give an estimate on the job, including all the aspects of the roof the inspector recommended. 2) Decide with your agent or lawyer how much of the cost you want to try to get the seller to pay for. 3) Ask for "seller's concessions at closing" or something along that wording, which is asking for them to give you CASH back at the closing, for you to use to pay for the repairs. Hopefully they will negotiate with you on the amount and agree to assume a reasonable amount of the cost.
We got out of our deal because they refused to give us anything - and all we asked for was $3500 on an estimate that was over $10K (there was a portion of the roof that was "flat" in a snowy region and it had been neglected for years and was a mess). We have since found a virtually identical house which is only 5 years in on a 30 yr roof. And we'll still need to do some venting, but that won't be anywhere near the $10K it was going to cost to get the other place right!
-Karen-
Actually he might be smarter than you know if say his floor or roof joists are rotted!
A seller who wouldnt compromise at all is a idiot. Ready buyer is KING.....
Just move on the jerk MIGHT decide losing ready buyer isnt good idea and offer some concessions. Espically since he is buying another home
Not if the seller gets his price. It still comes down to value versus price.
"Edwin Pawlowski" wrote in news:UBnFg.1058$cQ.515@trndny07:
It really is area dependent. Unheard of in the last place I had in the northeast. No one would even think to ask.
I'm in NC now. It is std for seller to pay some/all closing costs. Even professional (not bank) appraisals have notes that the appraisers opinion is based on the seller paying #x of closing costs.
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