U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate
 [Register]
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.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 03-20-2021, 03:02 PM
 
272 posts, read 293,828 times
Reputation: 482

Advertisements

For the last few months, I’ve been house hunting in a smaller town (think 15-20k) with a very limited number or properities that meet my requirements. My requirements (3-4 bedrooms, 2+ baths, and not near near commercial properties) wouldn’t be an issue in the Midwest city where I currently live, but are more challenging in this smaller town. I saw a couple of properties early on that I didn’t move quick enough on, that would have worked, but not much since.

I’ve recently found a home I love and meets all my requirements and then some, but the home owners are divorcing. And it’s a contentious divorce. The wife currently resides in the property and was given six months to sell the home FSBO. After that time it was to be listed by an agent. The listing was supposed to go live a few weeks ago, but the wife keeps coming up with excuses about not being available to sign the listing paperwork or having the time to prep the house, etc. The listing agent chosen knows I’m interested and has asked to schedule a showing, which the wife agreed to and now finds reason to reschedule (which as I live several hours away is a significant inconvenience). The husband is in the process of going to court to force his ex to get the home listed and sold. However, I am wondering even if he manages that if I should walk away?

As a potential buyer how messy and painful could this situation get for me? What types of things should I be aware of?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 03-20-2021, 03:13 PM
 
25 posts, read 8,481 times
Reputation: 31
Well here's a worst case scenario if the occupant doesn't want to move.


https://www.foxla.com/news/couple-bu...orium-loophole
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-20-2021, 03:16 PM
 
272 posts, read 293,828 times
Reputation: 482
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
Ugh. I will say I don’t live in California or a state with similar rules. I was thinking more damaging or destroying parts of the property. Or never agreeing to accept an offer.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-20-2021, 03:37 PM
 
Location: The Triad (NC)
31,509 posts, read 70,468,476 times
Reputation: 37821
Quote:
Originally Posted by ea1420 View Post
As a potential buyer how messy and painful could this situation get for me?

What types of things should I be aware of?
Until she is OUT and I mean completely packed up and GONE...
you can't even evaluate condition in order to make an offer.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-20-2021, 03:39 PM
 
272 posts, read 293,828 times
Reputation: 482
Quote:
Originally Posted by MrRational View Post
Until she is OUT and I mean completely packed up and GONE...
you can't even evaluate condition in order to make an offer.
Thanks. Apparently, the divorce decree allows her to remain in the property until closing. So I don’t see her being out before putting the house on the market will happen.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 03-20-2021, 04:17 PM
 
Location: Berkeley, Denver, CO USA
15,800 posts, read 23,760,066 times
Reputation: 27149
The price will be lower than market value.
I bought a house from a divorced couple on the best day you can make an offer: the day before Thanksgiving.
Hang in there.
Rate this post positively Reply With Quote Quick reply to this message
 
Old Yesterday, 09:08 AM
 
272 posts, read 293,828 times
Reputation: 482
Quote:
Originally Posted by davebarnes View Post
The price will be lower than market value.
I bought a house from a divorced couple on the best day you can make an offer: the day before Thanksgiving.
Hang in there.
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.
Rate this post positively Reply With Quote Quick reply to this message
 
Old Yesterday, 09:59 AM
 
Location: Somewhere in America
13,654 posts, read 12,373,472 times
Reputation: 23518
Quote:
Originally Posted by ea1420 View Post
For the last few months, I’ve been house hunting in a smaller town (think 15-20k) with a very limited number or properities that meet my requirements. My requirements (3-4 bedrooms, 2+ baths, and not near near commercial properties) wouldn’t be an issue in the Midwest city where I currently live, but are more challenging in this smaller town. I saw a couple of properties early on that I didn’t move quick enough on, that would have worked, but not much since.

I’ve recently found a home I love and meets all my requirements and then some, but the home owners are divorcing. And it’s a contentious divorce. The wife currently resides in the property and was given six months to sell the home FSBO. After that time it was to be listed by an agent. The listing was supposed to go live a few weeks ago, but the wife keeps coming up with excuses about not being available to sign the listing paperwork or having the time to prep the house, etc. The listing agent chosen knows I’m interested and has asked to schedule a showing, which the wife agreed to and now finds reason to reschedule (which as I live several hours away is a significant inconvenience). The husband is in the process of going to court to force his ex to get the home listed and sold. However, I am wondering even if he manages that if I should walk away?

As a potential buyer how messy and painful could this situation get for me? What types of things should I be aware of?
RUN! This will NOT be a smooth transaction. It could take months or years to close. It's not worth the hassle.
Rate this post positively Reply With Quote Quick reply to this message
 
Old Yesterday, 10:01 AM
 
Location: Somewhere in America
13,654 posts, read 12,373,472 times
Reputation: 23518
Quote:
Originally Posted by ea1420 View Post
Ugh. I will say I don’t live in California or a state with similar rules. I was thinking more damaging or destroying parts of the property. Or never agreeing to accept an offer.
There's a federal ban on evictions due to the pandemic. It's been an absolute nightmare for landlords.
Rate this post positively Reply With Quote Quick reply to this message
 
Old Yesterday, 10:01 AM
 
Location: Salem, OR
14,773 posts, read 35,799,280 times
Reputation: 14758
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.
Rate this post positively Reply With Quote Quick reply to this message
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.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top