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Old 03-21-2021, 10:37 AM
 
Location: Dallas, TX and Las Vegas, NV
6,911 posts, read 5,790,788 times
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At this point you are not finding other properties. One tactic I might suggest is making an offer at what you consider is 2% below market value through your realtor on the FSBO and agreeing to pay the real estate commission for the buyer’s agent (and hopefully your agent will accept 2%). At this point you have nothing to lose. If the wife is willing to accept the offer then she’ll likely not give extraordinary trouble.

I’m an investor and about 10 years ago I was making many offers. I sometimes made these kinds of offers successfully. Sometimes I would put a time limit on the response required, but a few times I made it a “standing offer” until I found another property to purchase. The seller was made aware, however, that I was actively searching. And, it worked a couple of times.

Last edited by WorldKlas; 03-21-2021 at 11:21 AM..
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Old 03-21-2021, 11:12 AM
 
278 posts, read 295,619 times
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Quote:
Originally Posted by Silverfall View Post
I had a client buy a home like that about 10 years ago, and they got an incredible deal and it took 90 days to close because of the antics of the couple. The husband actually had a restraining order against him. My clients still live there and it was a great purchase for them. You know it will be bumpy and crazy and don't ask for repairs as that will cause all sorts of problems in negotiations. Ask for a price drop or closing costs if there is something you need to compensate for like a bad sewer line.

They did have to get a 30-yard dumpster delivered to the house to remove all the junk they left behind that they didn't want. But $300 for a dumpster for a house that appraised $40k over our contract price? Totally worth it.
Thanks. Did the sellers cause issues with accepting an offer at market rate? I suspect that is definitely one of the tactics that the wife may use is believing the home is worth more than it is and then not accepting offers below what she wants. Right now as listed as a FSBO she’s got the property listed about 10-15k above market value, and it’s a small town and the pool of prospective buyers at that price point are limited, which I wonder isn’t part of the reason it was listed at that price point.

I’m going to keep looking, but keep an eye on this situation. As another poster noted, I’m not finding a lot of options, but I’m also not going to hold on with the hope that this particular house may become a available in a timely manner. I’m already concerned about the fact that the husband is going back to court to force the house to be listed.
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Old 03-21-2021, 04:21 PM
 
Location: Salem, OR
14,773 posts, read 35,804,959 times
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Quote:
Originally Posted by ea1420 View Post
Thanks. Did the sellers cause issues with accepting an offer at market rate? I suspect that is definitely one of the tactics that the wife may use is believing the home is worth more than it is and then not accepting offers below what she wants. Right now as listed as a FSBO she’s got the property listed about 10-15k above market value, and it’s a small town and the pool of prospective buyers at that price point are limited, which I wonder isn’t part of the reason it was listed at that price point.

I’m going to keep looking, but keep an eye on this situation. As another poster noted, I’m not finding a lot of options, but I’m also not going to hold on with the hope that this particular house may become a available in a timely manner. I’m already concerned about the fact that the husband is going back to court to force the house to be listed.
We didn't offer at market rate. We offered below it. We knew going in that it was contentious and took that into consideration. It has been a while, but there was a lot of haggling if I remember. We actually terminated negotiations at one point and then they re-engaged when we did that.

It would be helpful to have an offer to take to the judge to force the sale, if that is what he wants to do. I would write a lower offer and then that gives the husband something to work with. Then you let him know that your offer stands in the event that he can force the sale or you find something else.
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Old 03-21-2021, 06:01 PM
 
2,152 posts, read 784,646 times
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Quote:
Originally Posted by ea1420 View Post
Thanks. Did the sellers cause issues with accepting an offer at market rate? I suspect that is definitely one of the tactics that the wife may use is believing the home is worth more than it is and then not accepting offers below what she wants. Right now as listed as a FSBO she’s got the property listed about 10-15k above market value, and it’s a small town and the pool of prospective buyers at that price point are limited, which I wonder isn’t part of the reason it was listed at that price point.

I’m going to keep looking, but keep an eye on this situation. As another poster noted, I’m not finding a lot of options, but I’m also not going to hold on with the hope that this particular house may become a available in a timely manner. I’m already concerned about the fact that the husband is going back to court to force the house to be listed.
Could you offer a cash “moving expenses” incentive to a “resident occupying the house’” in the contract if the house is empty at closing by a certain date? Cash for keys.
(Psychologically, the wife in a contentious proceedings could feel satisfied that she got something extra and her husband didn’t )
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Old 03-21-2021, 06:52 PM
 
278 posts, read 295,619 times
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Originally Posted by Nik4me View Post
Could you offer a cash “moving expenses” incentive to a “resident occupying the house’” in the contract if the house is empty at closing by a certain date? Cash for keys.
(Psychologically, the wife in a contentious proceedings could feel satisfied that she got something extra and her husband didn’t )
I learned today that apparently the wife’s adult daughter is living in the home with her dog as well, as she is “trying to get her home back” (I’ll confess I don’t know if she’s been evicted or it’s something else). I don’t know if the daughter also also the daughter of the husband. However, I better understand why the wife may be trying to stretch things out (aside from the potential emotional stake she may have in the house).

In the good news, the wife consented to a showing an hour or so ago tomorrow morning. Of course I live several hours away and I’ve got a meeting scheduled at the one and only time the wife has consented to. My realtor is going to go and take some videos and photos, and she is taking one of my friends with her. So I’d likely be putting an offer in where I haven’t seen that house personally myself. Luckily, both my friend and realtor have seen several other houses with me, so I feel good that they have a good sense if it will work for me and if I will like it. Plus, it helps to have people I know in the house who can answer my questions about layout and flow.

Silverfall, thank you for the tip about sending in an offer to the courts, I had no idea that was an option. But, it makes sense, otherwise one spouse could never find any offer satisfactory.
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Old Yesterday, 05:08 AM
 
Location: NJ
16,043 posts, read 24,752,329 times
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Quote:
Originally Posted by Used2BeeHere99 View Post
Well here's a worst case scenario if the occupant doesn't want to move.


https://www.foxla.com/news/couple-bu...orium-loophole
I don't understand why the eviction moratorium has anything to do with throwing out an old owner, it has to do with renters. The only way it would apply to the homeowners is if they did a rent back. California is stupid!

If I was a buyer in California I would make it so that they did not get the money until they left the house.



Quote:
Originally Posted by ea1420 View Post
I learned today that apparently the wife’s adult daughter is living in the home with her dog as well, as she is “trying to get her home back” (I’ll confess I don’t know if she’s been evicted or it’s something else). I don’t know if the daughter also also the daughter of the husband. However, I better understand why the wife may be trying to stretch things out (aside from the potential emotional stake she may have in the house).

In the good news, the wife consented to a showing an hour or so ago tomorrow morning. Of course I live several hours away and I’ve got a meeting scheduled at the one and only time the wife has consented to. My realtor is going to go and take some videos and photos, and she is taking one of my friends with her. So I’d likely be putting an offer in where I haven’t seen that house personally myself. Luckily, both my friend and realtor have seen several other houses with me, so I feel good that they have a good sense if it will work for me and if I will like it. Plus, it helps to have people I know in the house who can answer my questions about layout and flow.

Silverfall, thank you for the tip about sending in an offer to the courts, I had no idea that was an option. But, it makes sense, otherwise one spouse could never find any offer satisfactory.

Thankfully your agent and friend can go see the house. If they like it for you, you're now armed with information to where maybe you can some how get an offer to the husband, maybe your realtor can find out how to do that, their case may be public record, realtor may need to call the courts. I don't know why a judge would even allow her to sell it FSBO, it's asking for trouble.

If they're worried about having a place to go, there's the web site VRBO for quick rentals, plus realtor.com also does rentals if it ever comes back to you that the wife and daughter can't find somewhere to go, keep it in mind.

Back when my house sold after my divorce, I also had no where to go but back then we didn't have the internet like we do now. I ended up putting most of my stuff in storage and crashing with a friend who didn't use their house much. I was more concerned with getting my hands on my share of the house sale, so you're darned right I vacated the house.

I do like the idea that the money gets put in escrow until the house is vacated or word it when you take ownership with moving in. That's a great idea.

Last edited by Roselvr; Yesterday at 05:30 AM..
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Old Yesterday, 05:27 AM
 
Location: Wonderland
56,583 posts, read 44,874,276 times
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Quote:
Originally Posted by ea1420 View Post
Thanks. I am curious about where they will want to price it. The wife has been doing FSBO (which in her case means slapping it on Zillow), but it’s probably 10-15k overpriced. So right now I suspect even if the husband can force the house to be listed, is that she’s going believe the house is worth more than it is. We shall see.
She needs to list it with a reputable realtor who will run comps and give her a realistic figure and then market it.

A court can make her list it reasonably but she can still wreak havoc. I'd find a different property myself.
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Old Yesterday, 07:37 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
34,445 posts, read 62,637,867 times
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Our first house was the same situation. The husband had left, and they were to split the proceeds under the terms of the divorce. When we went to see the house he insisted on being there, so the wife also wanted to be. They argued the whole time while the realtor tried to show it to us. Other than that, there was some delay in the negotiation because the wife wanted to accept our offer of $5k less, but the husband did not. Because it needed work we held form and he did finally agree.
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Old Yesterday, 08:16 AM
 
Location: DFW - Coppell / Las Colinas
37,000 posts, read 41,211,820 times
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Quote:
Originally Posted by Silverfall View Post
We didn't offer at market rate. We offered below it. We knew going in that it was contentious and took that into consideration. It has been a while, but there was a lot of haggling if I remember. We actually terminated negotiations at one point and then they re-engaged when we did that.

It would be helpful to have an offer to take to the judge to force the sale, if that is what he wants to do. I would write a lower offer and then that gives the husband something to work with. Then you let him know that your offer stands in the event that he can force the sale or you find something else.
About 10 years ago was also in the middle of the Mortgage Meltdown where deals were to be had and foreclosures everywhere. Todays market might be tougher.

But when it comes to divorce, as mentioned be prepared for a wild ride. On the other hand it could also go smoothly.

It's usually easier to buy once the divorce is finalized.
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Old Yesterday, 08:45 AM
 
278 posts, read 295,619 times
Reputation: 487
Quote:
Originally Posted by Roselvr View Post
I don't understand why the eviction moratorium has anything to do with throwing out an old owner, it has to do with renters. The only way it would apply to the homeowners is if they did a rent back. California is stupid!

If I was a buyer in California I would make it so that they did not get the money until they left the house.






Thankfully your agent and friend can go see the house. If they like it for you, you're now armed with information to where maybe you can some how get an offer to the husband, maybe your realtor can find out how to do that, their case may be public record, realtor may need to call the courts. I don't know why a judge would even allow her to sell it FSBO, it's asking for trouble.

If they're worried about having a place to go, there's the web site VRBO for quick rentals, plus realtor.com also does rentals if it ever comes back to you that the wife and daughter can't find somewhere to go, keep it in mind.

Back when my house sold after my divorce, I also had no where to go but back then we didn't have the internet like we do now. I ended up putting most of my stuff in storage and crashing with a friend who didn't use their house much. I was more concerned with getting my hands on my share of the house sale, so you're darned right I vacated the house.

I do like the idea that the money gets put in escrow until the house is vacated or word it when you take ownership with moving in. That's a great idea.
I don’t really understand making the process more difficult than it needs to be. If you can’t afford to buy out your spouse then selling is the only option. It’s not like dragging your heels means you will get to keep the house. I had a similar issue with my mother several years ago. She shared a house with my grandmother, and when my grandmother went into a nursing home, my mother could no longer afford the house she was in. But, getting her to prep that house for sale and sell it was like pulling teeth. It was if my mother thought if she ignored the fact that she had to sell would just make the reality go away. I mean she ended up selling her house and finding a smaller house she could afford, but she made the process a thousand times more difficult and it took three times longer than it needed to (plus cost her more money in the end) because she just refused to live in reality.

In terms of the FSBO, i suspect that may have been a negotiation point. All I know is that the husband has indicated in their divorce decree that it states that if the wife must list the house with a specific realtor by April 1 if she can’t sell it first through FSBO before then. So clearly, I think the rational parties involved realized that they had to have a concrete plan for selling that was clear and enforceable.
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