Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
He is an out of state investor who had his realtor come look at the place the first day, send video, etc. They were adamant to be mutual/under contract that night so that it would be marked pending...
Now they seem to be milking the inspection period. Inspector came back with a lot of subjective opinions, such as the deck MIGHT not be permitted, the washer and dryer work but look old and will likely need to be replaced/are due for replacement, etc.
Now the guy wants to come and look at the place in person....it's been nearly TWO weeks. My house has been marked pending and NO ONE comes to look at a house once it's marked pending. I had it out with their agent last night, pushing to get them to make a decision. Although they came up with $4,500 in bogus repairs (washer and dryer work but are old, deck may not be permitted, gutters need cleaning, all of $4,500!!!) I offered to fix some legitimate issues like the cleaning of the gutters, and give $2,700 in concessions toward closing costs. They still would not make a decision, wanting to call the same inspector that said hey, the garage doors work but might need maintenance, the deck MIGHT be un-permitted (it's not).
Merely cancelling the contract and relisting guarantees I lose the deal at this point, but how can I get them to make a decision or get off the pot so I don't waster another day on this clown? It sure seems like he wanted to get it under contract quick to keep it off the market but is taking his sweet time to get the deal done.
Doesn't the offer contract have any set time limits? It should.
As I noted in my post, they are milking the inspection period...That means there is a set time limit, but they are waiting until the last minute for every step. Inspection. Inspection response. Response to my inspection response, etc....Buyers do this when they are shopping other deals. Doing so is at no cost to them but IS at an 8K cost to me per month.
For one, buying a used house doesn't mean they get new appliances, so throw that one out.
For the deck, just go down to your Code office (or whatever it's called there) and find the permits. If it is unpermitted you can probably file for an after the fact approval, although that will add time.
You have an "investor" looking at the house so he's either going to rent it out or flip it. Whatever he can do to make you absorb costs at the front end (new washer and dryer) adds to his back end.
Either they are operating within the time limits you agreed to or they are not. It appears you are saying they are following the terms you agreed to but you don’t like it. That’s understandable but you’ve made an agreement and have/should stick with it.
If they are not within the terms, you need to follow the terms of the contract that deal with defaults or missed deadlines.
Either they are operating within the time limits you agreed to or they are not. It appears you are saying they are following the terms you agreed to but you don’t like it. That’s understandable but you’ve made an agreement and have/should stick with it.
If they are not within the terms, you need to follow the terms of the contract that deal with defaults or missed deadlines.
Except he is MILKING the terms to stall for time while he shops other deals. That costs me 8K a month and leaves a stigma on the MLS because by the time he decides, it will have been 2 weeks and lots of lost exposure on the MLS.
On top of that as I've said, the inspector came up with BOGUS items. The deck is permitted, the house shows a structural remodel year with the county. I've bought and sold MANY houses, inspectors typically try to show their value by finding things wrong...even if they have to make up things like, the washer and dryer look old, could be replaced to make it nicer.
Not sure what you're asking, but you agreed to the terms and the bottom line is there's nothing you can do. Is that the question? The inspection stuff is different. You either agree to it or you don't. If you don't, then play hardball and maybe he drops the deal sooner rather than later.
$8K a month in housing costs, if you can afford that stop complaining about a couple of weeks. If you can't afford the investor probably knows and is putting the screws to you. That's why he's an investor.
We have moved a few times. The real estate contract always had a time limit on everything even though we felt rushed. But the items had to be done in a certain short time frame. The inspection. The estimates. Then a time for how long to decide after the inspection. Then a length of time for the owner to say what they would do or not do. And it was always a short period of time.
For one, buying a used house doesn't mean they get new appliances, so throw that one out.
For the deck, just go down to your Code office (or whatever it's called there) and find the permits. If it is unpermitted you can probably file for an after the fact approval, although that will add time.
You have an "investor" looking at the house so he's either going to rent it out or flip it. Whatever he can do to make you absorb costs at the front end (new washer and dryer) adds to his back end.
Public records already show the house had a MIL apartment added a few years ago. It's permitted, this is purely how inspectors try to make themselves seem valuable, by making up bogus POSSIBLE defects to justify their $450 inspection fee for 3 hours of work. It takes a 2 week training course to become an inspector....
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.