Real Estate: Relieved |
- Relieved
- Meet the open concept bathroom. When you want to poop for the whole world to see!
- Unauthorized showing by my realtor after closing
- Agent set price, we listed, and then agent offered dual agency contract for asking on day 1.
- Withdraw?
- Does the listing agent need to list outside environmental concerns
- Philosophical question
- New Home Owners-Having Serious Issues With Home-Need Advice
- PNW Housing prices and competition for BUYERS
- How will stock market downturn affect immediate home sales?
- I'm planning to buy my parents house (they are going to an apartment) - what steps do I need to follow to finalize this with as little cost as possible?
- I want to move. I have a mortgage. How do you do this correctly?
- Where to Keep Down Payment During Search?
- Licking my wounds. No traction on offer in LA suburb.
- Paying 6% with 75K and 132 months to go. Just emerged from a credit nightmare. Need advice on next steps.
- Roof of about to be closed on house needs to be replaced, the replacement cost was taken off the asking price of the home but recent quote is triple that cost.
- Don’t forget: You don’t have to use a realtor
- HELP! Buying a house and realtor charging us over $3,000 in “brokerage administration fees” after offer accepted.
- Writing your own offer...
- Dual Agency
- First time home buyer - buying a foreclosed home? (NJ)
- Need advice on helping son and fiance possibly buy a house.
- taking a bank loan on a house purchased with cash?
- Contractor installed defective appliance
| Posted: 04 Mar 2021 07:06 PM PST Just wanted to say I am so relieved to make the decision to continue renting. Literally fuck this market. I don't care what anyone says, but I am not going to sell my soul by overpaying 50-100k+ and waive every contingency just so I can "not throw money away on rent." Fuck that. I'll rent. Not about timing the market, I am happy where I am. [link] [comments] |
| Meet the open concept bathroom. When you want to poop for the whole world to see! Posted: 05 Mar 2021 03:53 AM PST |
| Unauthorized showing by my realtor after closing Posted: 04 Mar 2021 04:37 PM PST So my sale closed last week and possession is next month. My realtor was authorized to come pick up some staging items (they still have a key). Agreed on date, I didn't really care what time. Happened to come home while realtor was there. There were two pairs of shoes at the door. Both people were in an empty room, with no staging items in it. Realtor acted weird and stood in the doorway and I couldn't see the other person. I left because it was uncomfortable and I was surprised. Hours later I inquired about it, and realtor apologized admitting they had someone interested in the building and decided to show them my home, even though the sale has already closed. Being a reasonable person... I'm not happy but also don't want to do anything that could impact my sale. Is this a big deal or with pursuing, or should I just move on? I wish the profession was a bit more professional given the amount of money involved... Update - thank you for the serious responses and also for the hilarity. Clearly my beloved soon-to-be-former home has been subject to acts of realtor depravity. Sex wasn't specifically forbidden in the listing contract. Lesson learned I guess. [link] [comments] |
| Agent set price, we listed, and then agent offered dual agency contract for asking on day 1. Posted: 05 Mar 2021 05:52 AM PST Is it wrong that my spidey sense went off for this scenario. This seems to indicate that the price may have been set too low. I'm a frequent reader of this sub and just the other day was reading about how dual agency is outlawed in some states, but not mine. Of all the questions we asked this agent prior to signing a listing I didn't think to address dual agency. [link] [comments] |
| Posted: 05 Mar 2021 05:24 AM PST Hi! I urgently need somebody's support and advise because I'm really feeling bad, literally cannot eat and sleep. We are buying a condo. We could afford ether house far away from the city or condo closer. We made several offers for houses , it wasn't accepted, but with 3rd one WITH CONDO it finally went through. We are fist time home buyers , and also we are not Americans , so we are not really familiar with real estate market situation. Listing price was 560k, our agent suggested put in 575k (however condo sells 10-15 k BELOW then listed) to get it and wave inspection. We didn't want to wave it at all , and ended up in „informational inspection". Ok. Before the seller and seller agent review the offer , seller agent start negotiating, mentioning that there are two offers , blah blah blah: „your deposit with 5k just unserious, please let's make it 5%(28k) and no even informational inspection". NOW, I realize it was a red flag and we should have immediately step back, but our agent told it is totally ok such a huge deposit ( that you pay on next day), and also she told inspection is useless thing. Everything was very fast and pushy and I think we did it by inertia . Now we feel trapped and foolished. We don't even know what we buy, we buy it more expensive, we can not withdraw from the purchase because loose 30k not an option for us. We are scaried that inspection after closing find something that need a lot of money, we find the whole situation strange. I feel really bad last days because of this situation. We do know we totally screwed up. Any suggestions or just words to calm down? P.s. Condo itself looks nice (however it needs some maintenance, has questions about size an layout) and is in good and quite expensive town... [link] [comments] |
| Does the listing agent need to list outside environmental concerns Posted: 05 Mar 2021 09:15 AM PST I probably got the flair wrong, sorry for that. We are currently renting a brand new house on three acres while we are building. Right behind the rental, and through a little woods there a working rock quarry that runs long shifts and through the summer runs a full 24 hours. Despite the house being nice, the outside yard is borderline unusable during the summer months. There is constant rock dust and noise coming from the quarry. During the night, we literally need to have some kind of ambient noise generator turned to max to drown out the noise coming from the quarry. The noise is one thing, but the rock dust is so prevalent that I honestly think it is a health concern, it gets in your eyes, nostrils, at the very least it makes being outside very unpleasant. While you can see the quarry from the back yard, it is through a little woods and behind a burm so it isn't obvious that noise or dust will be an issue. In fact, we asked about it, and were told you can't hear it when "the leaves come in". This is a rural area otherwise and I think this is the only house affected. We are renting, our lease is just about up, and we are simply moving on - a little bothered because the impact of the quarry was really downplayed - but whatever. The landlord has decided to sell. We have told the realtor and the landlord about these concerns, and while I understand this isn't a good selling point it bothers me that nothing has been mentioned in the listing. It is not a noticeable problem in the winter, the place does seem to blast or do whatever causes the dust. It is dishonest at best and criminal at worst if there truly is a health concern. My question is this: if a concern like this is brought up are there any ethical standards in the real estate world that would require them to divulge the information? [link] [comments] |
| Posted: 05 Mar 2021 09:02 AM PST Noodling on this after seeing much of the usual activity here in this sub...Multiple offers, I can't compete etc. Question: is the market really overvalued? Or is it actually undervalued? Meaning that of course there is stupid money or people willing to forgo certain things like contingencies, but if you believe in the long run weighing scale vs short run voting machine market philosophy, money tends to run to assets that are undervalued. Therefore I wonder if the market is actually correcting to where it should be and rising. I.e even though people are setting crazy high asking px and still getting multiple offers, should the market be setting even higher asking prices? To me, it's not a sudden phenomenon that people want to buy houses - demand will remain strong due to population growth as well as foreign and VC investment. Nor is it an immediate COVID issue that there is a lack of supply (sure it impacted but it's been only about 1 year so we can't blame that as the only supply constraint). Therefore with cheap and plentiful money available (rates, strong equity market returns over past decade), is this just the right market to put your money in because it's actually undervalued? Happy to hear the other side obviously, but just something that came to mind. Disclosure* I'm not a buyer or seller at this point. [link] [comments] |
| New Home Owners-Having Serious Issues With Home-Need Advice Posted: 05 Mar 2021 02:51 AM PST First time posting, in need of some advice. My bf and I just bought our first home in late January and we've been having problems since the start. I'm unsure if it's just bad luck and we deal with it or if we need to take legal action. Note, this was a newly flipped home. When we first looked at the home I noticed two water stains, which apparently the seller knew about and was going to repair. (We should have run right here, I know). After inspection, nothing crazy came up but verified water had been coming in through the chimney into the master and in living room (they put drywall up to cover the exposed brick from chimney) Seller hired a guy who said to have fixed these issues along with a few other things. We can still visibly see the water damage on the walls and ceiling but it doesn't seem to be leaking. We had a bird stuck in the underneath of the microwave which was mounted above the stove, they didn't put the vent on so a bird flew in there (we had to replace that because the bird ruined it). Found more birds flying around, figured out the vents in basement weren't capped off so we capped them, no more birds. Also no door from basement to kitchen (asked seller to install one he declined). We found a hidden door under the deck which leads to the basement, but they put drywall up inside to cover the door to the outside. That door leaks water into the basement when it rains. The downspout is not properly attached on one part so rain goes right in front of that basement door, which leads to the flooding. We felt air coming in from a ceiling joint in the basement, turns out there was a water bottle shoved up there to block the air getting through because it opens up to the deck. Downstairs toilet leaked into basement because they installed the wrong size pipe (don't know exact term). Upstairs bathroom faucet leaked because wrong size pipe. 3 of the faucets in the house are backwards, hot is cold and cold is hot. The ceiling light by front door has no switch (have WiFi bulbs in now so we can control from phones and use the light). Light post on siding by back door, no light switch (WiFi bulb works) and has an non working Sony camera. Found out the Sony wires had just been cut (found them dangling under the deck by that door we found). Other light on deck and in back yard, no switch but replaced with WiFi bulbs. There were very large icicles on siding and hanging from soffit (which I read about and means more water damage). We needed a driveway bumper installed, seller paid for it and took measurements but gave wrong measurements and won't pay the difference so we are. I called the driveway company just to ask about what's going on and the rep told me seller apparently ran out of money and was cutting corners. I asked if she spoke to seller and she said no he's in another country, the sellers realtor told her that. Sorry for such a long post. I am extremely frustrated and have looked online but haven't found definitive answers. I've talked to our realtor and he's not much help. Any suggestions on where to go from here? [link] [comments] |
| PNW Housing prices and competition for BUYERS Posted: 05 Mar 2021 01:41 AM PST So I am considering buying a home in the very near future. It will be my first. The housing market here is insane. We are in suburbs of Seattle and the past few places we have viewed are receiving sometimes 20+ offers. Should we wait to find a home? Will it make a difference? I think prices have gone up dramatically recently for buyers and things are selling for 10% over asking. [link] [comments] |
| How will stock market downturn affect immediate home sales? Posted: 05 Mar 2021 09:21 AM PST |
| Posted: 05 Mar 2021 09:17 AM PST I'm assuming we can bypass a realtor completely, but what else would we need? My parents thinking a real estate lawyer, but we are unsure if we each need our own, of it one can handle both sides of the deal. I've got a pre-approval for the mortgage for the amount we'd be paying. If someone knows a list of steps we need to follow to complete this, that would be great! Some notes: My husband and I are first time homebuyers, and we'll be getting a VA loan. [link] [comments] |
| I want to move. I have a mortgage. How do you do this correctly? Posted: 05 Mar 2021 09:01 AM PST I currently own a home, and I have a principal balance remaining on the mortgage. I would like to move by buying a new home. How do I do this? There's a few things I can logically think of, but not sure what's the best practice. First way:
Second way:
Third way:
Another option:
[link] [comments] |
| Where to Keep Down Payment During Search? Posted: 05 Mar 2021 08:47 AM PST Title mostly says it all. Where should I keep my down payment while I'm searching for a new home? I know earnest money needs to be very liquid, so I have that in my checking account. Currently, the rest of the down payment is in a high yield savings account, but given that the house hunting process could take months, that doesn't seem super ideal. What do you all recommend for where to place the rest of the down payment to maximize returns without too much risk while still maintaining relative liquidity? [link] [comments] |
| Licking my wounds. No traction on offer in LA suburb. Posted: 04 Mar 2021 12:41 PM PST Placed a bid on a 3+2 SFR in a suburb of LA at a list price of 631k . Home is completely turnkey. Comps for similar properties (home sq. ft and lot size, year built etc.) range from the low side (614k) to high (655k). Comps are limited because, well, closed deals are limited. Offered $670,000, 20% down, waived appraisal and inspection contingency, and offered rent back for 30 days. I thought this was a solid offer. Well, I lost the bidding war. Listing agent says the winning bid was 720k, appraisal, inspection, and LOAN contingency waived + free 30 day rent back. I didn't want to go beyond 670k because I wouldn't be able to cover the appraisal shortfall if the appraisal came back on the low end. Apparently the buyer was willing to cover a potential 100k appraisal shortfall and had 25% to also cover the down. Blows my mind honestly. Then again, I'm just a middle class cog earning a decent salary. I don't know how to compete with some of these buyers. They're major league and I'm here playing tee-ball. Oh, and the listing agent mentioned that the winning bid wasn't the highest offer. Geez. [link] [comments] |
| Posted: 05 Mar 2021 08:43 AM PST Looking for advice on moving forward on a sucky home situation. We're paying 6% on a 30yr that's got 72K and 132 payment remaining. It was an 80/20 fixed loan from back in 2003. We haven't yet pursued refinance because we jammed ourselves up in a revolving credit mess with high utilization and low AAoA. It's all paid down as of January 2021, and I'm at FICO 5,4,2 753/753/719 and oh-so-slowly climbing. Income is low six-figures, major pharma employer. I've never had my name on any mortgage. The home, note, and deed are in the wife's name only. She hasn't worked in 18 years. She discharged the mortgage and a HELOC through Chapter 7 about 12 years ago. No missed/late payments ever. HELOC was paid in full late last year. We don't have anything like a paralyzing emotional attachment to the home. It's in a desirable middle-income area with a highly-regarded public grade school just two blocks away. It was $152K in 2003, and refreshed comps are going for $225K. Our home, however, would need a lot of work and expense to compete - I'm guessing $20K in landscaping, interior painting, window replacement, kitchen and 3x bath refresh, the HVAC and water heater and dishwasher are 30 years old, probably mold remediation, the list goes on and on. We haven't kept up on it, and we're going to get a soaking. AFAIK my options seem to be ... stay put, refi and start freshening ... sell to a flipper ... dump $$$ and heart and soul into freshening then list and sell without getting to enjoy the hard work ... walk away and pray the wife doesn't get sued. tl;dr Paying 6% with 75K and 132 months to go. Just emerged from a credit nightmare. Need advice on next steps. [link] [comments] |
| Posted: 05 Mar 2021 08:40 AM PST I am about to close on a house. Before signing a contract I was told the roof needed to be replaced, and the seller said she was given three quotes which average to Price "A". During negotiations I offered to take the amount of Price "A" off the asking price of the house and that was acceptable. Now I am a few days from closing and had a local contractor give me an estimate which is triple of "Price A". The sellers realtor is telling me there is nothing I can do other than break the contract. Do I have any other options? I do not want to lose this house, or go through all the financing/attorney/etc. stuff again but I also don't want to lose money because I dont know my options. Any help would be appreciated. [link] [comments] |
| Don’t forget: You don’t have to use a realtor Posted: 05 Mar 2021 08:29 AM PST Over the past year my partner and I have sold our condo and purchased a townhome both privately, no realtor for either the sellers or buyers on both transactions. Did however use a realtor to purchase our initial condo. For reference. Victoria BC Canada. Average single dwelling house January 2021 sold for $915,000. Transaction 1: The buyer saved about 20 grand in realtor fees and we didn't have to expose our home to endless germs or coordinate showings. They also preferred we didn't finish our reno/update and took possession much earlier than we were going to list on the market. This saved us a few months of mortgage and we rented a cheap place in the interm. Transaction 2: we had two unsuccessful attempts at buying a duplex/town home with our realtor since prices are being pushed up by other competitive offers far above market value and asking price. We were prepared to pay 645,000 for something worth 600,000 but it still wasn't competitive enough. Que private sale 2: put it out to friends, family and anyone were looking. That day a friend texted us and said his parents are building and need to sell their townhouse. It wasn't listed - they were just deciding they needed to sell to get a building loan. We looked at it, agreed on a price that was below market value since were both saving on realtor fees and they didn't want people during covid coming into their home to view it. Ended up spending 90,000 dollars less than our budget by coordinating privately and we love the place. Everything we were looking for. Pretty simple procedure for anyone buying or selling a property that is in good shape doesn't hold any hidden damage or risk etc. Basically needed a contract of sale with offer price, possession / completion dates, outline the conditions and always require both parties to at least seek a notary to approve the documents. You also ask for strata documents, property disclosure statement and a form b. All of which you can print yourself from the internet based on where you live. Don't forget you will pay property transfer tax and that is not included in the price you agree on privately. Less risk doing this with a condo or townhouse where a strata manages lots of the maintenance but could be done with a single family dwelling if you are experienced in what to look for in a property. This may be a coincidence of needs meeting wants but don't forget it is an option. Especially with prices so inflated and people less keen to let strangers into their homes! Take advantage of this situation. TLDR: sold condo and bought townhouse both privately. saved money by not finished our updates, selling sooner than expected, no realtor fees, less monthly expenses by renting while we looked for a new place, purchased privately saved more realtor fees on both parties, stayed $90,000 under max budget, got exactly what we wanted. cheers [link] [comments] |
| Posted: 05 Mar 2021 04:19 AM PST I just had an offer I put on a house accepted and upon getting the closing cost breakdown sheet from the mortgage company the brokerage firm is charging us and additional $3,000 for a "brokerage administration fee". I asked my agent what this was for and he advised it goes to the person at the brokerage who is finalizing all the paperwork for the house. Is this a complete scam? No one I talked to has ever had to pay such a fee when BUYING a house. Anything I can do to get out of paying this? This wasn't something i agreed to prior but really want this house. Any advise is helpful. Thank you. [link] [comments] |
| Posted: 05 Mar 2021 04:13 AM PST Hey there. A "dream house" of mine is going on the market in my neighborhood. I think the seller is doing a For Sale By Owner and does not want to deal with realtors or realtor fees so we are considering writing our own offer and looking for guidance on that. CONTEXT: My wife and I would like a larger house to accommodate our growing family, but we really love our location so we'd like to just move to another house in our neighborhood. Last summer, my wife and I put flyers in the mailboxes of the larger houses in our neighborhood. We got a few bites- one house we loved. It was more than big enough for us, well kept and had possibly the best yard in the neighborhood. There were a few issues but I think they have resolved them since. The owners said they wanted a very reasonable price for it and were hoping we could avoid going through a realtor. However, they got cold feet. They said they didn't want to house hunt during Covid. Completely understandable. We follow up a couple months ago. They said their minimum price is about 10% more than what it was last year. We're caught off guard but to be fair to them, it's in line with other homes in the neighborhood. My wife and I mull over this for a couple weeks and we reply saying we would like to negotiate with them. Their response is a flat "We're putting it on the market in 2 weeks." Well hell. I don't blame them for putting it on the market instead of selling to us directly. The market is bonkers around here right now. Houses sell in a day and at more than asking price. Based on what the owners have said in regards to realtors (i.e. they want to avoid fees), I think they will put it for sale by owner and would ignore offers from people using realtors (is it crazy to think this?) We still really want this house and we don't want to bring in our realtor unless we are sure we are going to use her. Is there any guidance or suggestions as to writing your own offer? I know it can be kinda thorny, I don't want to put in an escalation clause and end up paying half a million for this house or whatever... Alternatively, I have considered sending one more message asking them if there was a price that they'd sell to us right now...Once again this is more or less a dream home for us and I'm already expecting to pay a premium for it... [link] [comments] |
| Posted: 04 Mar 2021 04:17 PM PST Hi All, The laws surrounding dual agency differ state to state, so I can really only speak for my state (Washington), though I believe the ethics surrounding dual agency are pretty universal. Dual Agency refers to a sale in which one agent represents both seller and buyer. This typically happens when buyers come unrepresented and talk to the listing agent and ask to be represented by the listing agent. Many buyers believe that it gives them an advantage in price (in a seller's market it doesn't and really the price has already been agreed upon between listing agent and seller) or an advantage in their offer (the listing agent will push for their offer so that the agent can get both sides of the transaction). I've seen this conversation on this subreddit many times. I really dislike this practice as I think it's impossible to fully represent my seller and a buyer simultaneously. I have a listing right now and when buyers have reached out to me to ask me to represent them, I send them the name and number of a colleague (oh and I DO NOT accept a referral fee for this transaction, as that is still a competing interest.) I wish this practice were illegal in Washington state, but it's not, so my only recourse is to recommend to buyers that they get their own representation! Trying to use the listing agent will probably not be in your best interest and odds are you will end up with a different house anyway. I promise you that I am trying to get my sellers the very best offer for them. That doesn't necessarily mean the highest offer, unless that's what it means to them. My mom could be presenting an offer to me and I would still offer it objectively to my clients. Now, that being said - if all else is equal between a couple of offers and I've worked with one of the agents representing a client and had a good experience or a bad experience, I would certainly let my clients know my experiences. So if your agent seems like an A$$hole, it's possible you'd have a slight disadvantage if your offer was matching another. Anyway, that's really it - please get your own representation. I know there are some buyers here who are very experienced buyers (investors or what not) who absolutely will not do this and always go straight to the listing agent. That's your prerogative for sure, but just realize there are some agents where that will give you absolutely no advantage. Anyway, for all you buyers out there - keep on keeping on! It's a very, very difficult market and I feel for all of you! [link] [comments] |
| First time home buyer - buying a foreclosed home? (NJ) Posted: 05 Mar 2021 07:31 AM PST So last year, around February, we went under contract for a home that happened to be a short sale. We didn't know it was one originally, and by the time we found out we were pretty deep into the process. Our attorney told us they can take a little longer, but we weren't in any rush, so we went ahead with the deal! But it turned out there were liens on the property. Like, a LOT of liens! So the past year has been us sitting around while the sellers side tried to negotiate all of them off. They did a good job, I think they've managed to get 7 out of 9 to agree to a payoff, including a bunch of unpaid state/federal taxes. But as of a couple weeks ago, the bank that owns the house decided they were done waiting and it's scheduled for auction. We found out completely by accident--the sellers didn't even tell us lol. But whatever. And we're thinking well, we've waited this long, we may as well go to the sale and see if we can still make this happen. There's nothing else in this market we like or could possibly afford, and hasn't been since the summer. Normally we'd be incredibly hesitant to buy a house as-is without seeing it, but we have seen this house. We paid for every inspection known to man, top to bottom, sewer scope, well, the works, and we feel we have an incredibly clear picture of its condition. But we have NO idea how foreclosures work and we're feeling pretty intimidated by the process. We don't want to get stuck with any of the liens we know are on the property. We want to make sure we have enough cash to cover what's required to buy at an auction. And can we even hope to compete with someone like a cash buyer or an investor? Maybe it's not even worth trying? On top of that, the sale is scheduled for March 11, so we don't have much time to figure it out. Our attorney is pretty "over it" with us, he's very slow to respond to calls or emails and does the bare minimum when it comes to getting information or communicating with the sellers. We think he's kind of mad we're paying a flat fee for what turned out to be literally 12 months of work. So we don't feel he'd be helpful to navigate this process. So how do we go about finding an attorney that would be? And, you know, really quickly! I left a message with our realtor & attorney to try and get some guidance, but thought I'd post here to see if someone had some advice in the meantime! Thanks a bunch :) [link] [comments] |
| Need advice on helping son and fiance possibly buy a house. Posted: 05 Mar 2021 07:09 AM PST Hopefully this is the right sub for this. If not, please feel free to direct me elsewhere. My son (22) and his fiance (21) are currently paying a LOT to rent an apartment that is unsuitable for their needs. They are expecting a baby in September. The area where they live is very expensive but they're looking to make a move to an area closer to us and closer to his new job promotion location. That area is not as expensive for housing so I believe they can find something there for a lot less than they are paying in rent. Median price for a starter home in that area is probably around 140,000. Last year when my daughter and her fiance bought a house, we gifted then $5,000 for whatever they needed it for. They used part of it towards some closing costs and part towards a new roof and other upgrades. We plan to do the same for our son. The only issue is, my daughter and her fiance bought their house 2 months before their wedding. We knew they were getting married and weren't worried that they were going to split up. My son and his fiance have not yet set a wedding date and do not seem to be in a hurry to do so. They did talk about a courthouse wedding before the baby arrived, but that seems to have taken a back seat to here desire to "someday" have a big wedding. Also, their relationship tends to be a little more volatile than my daughter and her now husband. My son's fiance tends to default to "I'm leaving" whenever they get into even a minor disagreement. She's been known to leave at midnight and go stay with her parents for a few days before they make up again. Part of this, I'm sure, is pregnancy hormones, but obviously as parents, we'd like to see them have more healthy problem solving skills with a baby on the way. They are getting counseling so hopefully that will help. Currently, my son is the primary breadwinner and his fiance works as well but makes less. After the baby, however, she may not be working at all unless she can find something to do from home. There is a chance that I may need to cosign for them to buy a home before the baby comes. My son has good credit (mid 700's) but his credit is fairly new (within the past year or so) so if that's an issue, they may need a cosigner. I am not sure what the status of his fiance's credit is. That's a question we intend to ask. I am happy to help them if they need it, because I'm convinced of my son's work ethic which has earned him this promotion. What I'm less certain of is how to protect myself legally if they split up and her name is attached to a house that she has now left, etc. Any thoughts or things I need to look out for here so I don't get into a bad situation? [link] [comments] |
| taking a bank loan on a house purchased with cash? Posted: 05 Mar 2021 07:03 AM PST I'm planning on taking a family loan so I can purchase a house with cash. Is it possible to, after purchasing the house, take a mortgage out against the house so I can pay the family loan back? before anyone asks why I won't just get a mortgage from the bank originally, it's almost impossible to buy a house with a bank loan in my area. [link] [comments] |
| Contractor installed defective appliance Posted: 05 Mar 2021 06:54 AM PST Hello, I just bought a house and we discovered within two weeks that the refrigerator/freezer is broken. We called the company as it was supposed to be under warranty and they sent someone out who said the wrong compressor had been installed which voided the warranty. We called the contractor who did the work on the house for the seller and he sent someone out who confirmed it was the wrong compressor and the appliance guy said that it's possible that using the wrong compressor damaged electronics or other parts and that even if he bought and installed the new compressor and fob (estimated cost $600 parts and labor) its 50/50 it will work. They had gotten it as a floor mode from a big box store, which apparently told them that floor models are sold "as is" and nothing can be done (I have not tried to verify this myself). We are still talking with the contractor but it sounds like they don't really want to replace it. Would something like this normally be the responsibility of the contractor who installed it? It's only been like three months since they did the renovation for the seller. The contractor has to his warranty that says it covers work, materials and equipment which I feel like applies to a refrigerator they bought and installed, but they're claiming it does not. What do you guys think we should do, would we have a leg to stand on in small claims court? [link] [comments] |
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