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Old 03-17-2015, 10:15 AM
 
21 posts, read 19,341 times
Reputation: 13

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Quote:
Originally Posted by 4Movingeast View Post
The seller is being unreasonable in my opinion. If they are confident that their report is accurate then they should not have an issue with allowing you a sufficient amount of time to schedule inspections and receive their reports. What about paying a bit more for a longer option to show your level of interest?
Seller has already asked to increase option price to $200 (instead of my offer $100) and earnest money to 1.5% of offer price (instead of my 1% of offer price) while negotiating acceptable offer price; but still stressing the option period to 'Strict 5 Business Days' from offer date.

However I think I might still be able to arrange different inspections done just in time, but will really have to rush.

Assuming my engineering report also agrees with seller engineering report, tilt and other symptoms mentioned in my OP are acceptable or reason enough to run away from this house (considering soil conditions in Dallas area).

What if there is room to negotiate based on this per foundation estimates, should such house be considered in that case?
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Old 03-17-2015, 10:20 AM
 
19,556 posts, read 17,824,718 times
Reputation: 17072
Quote:
Originally Posted by TurtleCreek80 View Post
The seller is probably hoping he can take advantage of a hot market to allow less time for buyers to find out what's wrong with the place. A lot of homes in northwest Dallas (particularly west of Marsh) have major foundation problems.

Run, OP, run.
Oh yea I missed the location. Any home foundation boxed by Midway, Forest (even a shade south of Forest), Webb Chapel and 635 should be inspected by someone hired by the buyer - especially the areas right around Marsh. Most of the homes are just fine or have been well repaired in the past. Some are disaster areas. A friend of mine lives just south of Forest between Webb Chapel and Marsh - his home foundation is in ruins, he bought appropriately, neither of his next door neighbors have any issues at all.
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Old 03-17-2015, 10:27 AM
 
19,556 posts, read 17,824,718 times
Reputation: 17072
Quote:
Originally Posted by sburi View Post
Seller has already asked to increase option price to $200 (instead of my offer $100) and earnest money to 1.5% of offer price (instead of my 1% of offer price) while negotiating acceptable offer price; but still stressing the option period to 'Strict 5 Business Days' from offer date.

However I think I might still be able to arrange different inspections done just in time, but will really have to rush.

Assuming my engineering report also agrees with seller engineering report, tilt and other symptoms mentioned in my OP are acceptable or reason enough to run away from this house (considering soil conditions in Dallas area).

What if there is room to negotiate based on this per foundation estimates, should such house be considered in that case?
Is it an old rebar and concrete slab, post tensioned slab or pier and beam foundation?

If you'd like DM me the address, a good friend was in the foundation repair business for 35 years. He knows that area like the back of his hand. According to him there area three of four, "hot spots" or areas in which he would never buy unless the house was sold at a 30% or better discount.

He lives a couple of miles from where I think that house is - maybe he could run by an take a friendly look. He's told me he can't tell if a house is a yes from a quick look but he can tell if a house is worth running away from. jut by looking.
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Old 03-17-2015, 11:24 AM
 
1,190 posts, read 2,624,295 times
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Quote:
Originally Posted by sburi View Post
What if there is room to negotiate based on this per foundation estimates, should such house be considered in that case?
If the seller is not willing to negotiate on simple things like option fee, ernest money and inspection period, I doubt he will be willing to negotiate other stuff to a great degree.
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Old 03-17-2015, 01:45 PM
 
37,315 posts, read 59,602,807 times
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I think someone put a finger on the issue--
probably thinks with a hot-market that the buyer will be coerced into agreeing to seller's demands...
the seller is always able to take a backup offer and give #1 the normal option period--
wanting to cut the option period--especially if there is special need for inspection--is just red flag to me that the seller knows something is wrong...
remember if you come back with a negative report the seller has to include that info in any future reports to buyers I believe...

It sounds like you are not using an RE agent--is the seller? or is it for sale by owner type?
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Old 03-17-2015, 01:56 PM
 
Location: Colleyville
1,206 posts, read 1,524,000 times
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Quote:
Originally Posted by loves2read View Post
I think someone put a finger on the issue--
probably thinks with a hot-market that the buyer will be coerced into agreeing to seller's demands...
the seller is always able to take a backup offer and give #1 the normal option period--
wanting to cut the option period--especially if there is special need for inspection--is just red flag to me that the seller knows something is wrong...
remember if you come back with a negative report the seller has to include that info in any future reports to buyers I believe...

It sounds like you are not using an RE agent--is the seller? or is it for sale by owner type?
That is what I was thinking too- a FSBO that might be operating out of a place of ignorance combined with a feeling there might be issues with the property the seller doesn't want to face/repair/pay for.
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Old 03-17-2015, 02:33 PM
 
Location: DFW
40,930 posts, read 48,938,221 times
Reputation: 54922
Quote:
Originally Posted by 4Movingeast View Post
That is what I was thinking too- a FSBO that might be operating out of a place of ignorance combined with a feeling there might be issues with the property the seller doesn't want to face/repair/pay for.
You guys beat me to it. I was about to ask what his Realtor thought.

About the shortest I would want or give is 7 days. It can be extended if you find a major problem and need more or other Inspections like Foundation.
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Old 03-17-2015, 02:51 PM
 
3,478 posts, read 6,530,400 times
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I think you are going to have a rough time getting all of those lined up.
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Old 03-17-2015, 03:27 PM
 
13,194 posts, read 28,168,136 times
Reputation: 13135
Quote:
Originally Posted by mSooner View Post
I think you are going to have a rough time getting all of those lined up.
I agree! We bought 2 years ago and couldn't even book ANY our realtor's top 3 inspectors on 10 days notice. They were booked solid.
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Old 03-17-2015, 03:29 PM
 
21 posts, read 19,341 times
Reputation: 13
Thanks all,
I'm using an agent but he is part time and not much help or have opinion on this; also it's not FSBO. Mine will be 3rd offer on this house; and seller agent has previous 2 offers inspection and foundation reports with them I believe. Those were not off course mentioned in original sellers disclosures.

So I should be asking them to declare what was identified as issues in these inspections (even though these were done by other buyers)?
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