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Selling a house

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ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Apr 20, 2017 2:39 PM
Why would you say 50%? What are the snags?
Apr 20, 2017 10:39am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Apr 20, 2017 2:58 PM
ernest_t_bass;1848939 wrote:Why would you say 50%? What are the snags?
The sellers are all of a sudden acting like they are doing us huge favors by addressing anything that came up in the inspection because "they feel like they are giving the house away" since it never actually went on the market and they are now assuming they would have had a bidding war on the house. There was also some termite damage that came up in the inspection that our bank is now pushing back on and I'm almost positive the sellers won't put more money into fixing any issues.
Apr 20, 2017 10:58am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Apr 20, 2017 3:05 PM
I'd just walk away, then. Get a storage unit and rent until you find the perfect house. Don't do something you feel uncomfortable doing. The seller can't MAKE you pay for something you don't want.
Apr 20, 2017 11:05am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Apr 20, 2017 3:23 PM
I have an email out to our inspector to follow up on the termite issues he called out, hopefully they weren't major and he'll sign off on them as being fine. They did have the house treated for termites prior to our inspection (in December), but the inspector saw termite damage and said the house needed treated. There was also termite damage on a joist that, if our inspector writes back and says it is not a structural issue, the bank will be fine.

But, back to the sellers. They are annoying because they said they accepted our offer (which was $4900 below asking price) because we were able to close in 30 days and they can get their money sooner. Now, 2 weeks into the process they seem like they'd rather the house go back on the market, MAYBE get a little more than asking price. Maybe. And likely not find buyers that can close as quickly as we can. We want the damn house, we just wish these sellers were as easy to work with as we are (as sellers).
Apr 20, 2017 11:23am
TedSheckler's avatar

TedSheckler

Emporium Entrepreneur

3,974 posts
Apr 21, 2017 2:07 PM
If they accepted an offer and you both signed the paperwork, it's a legally binding contract. You can sue if they try to back out.
Apr 21, 2017 10:07am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Apr 21, 2017 4:10 PM
Right, but they could say "we're not fixing anything" and put it on us to back out or pay for the fixes ourselves.
Apr 21, 2017 12:10pm
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
Apr 21, 2017 4:41 PM
Did they sign anything that said they would fix the stuff?
Apr 21, 2017 12:41pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
Apr 24, 2017 4:34 PM
I think we've ironed out most of the issues, and they are taking care of most of the things that came up in the inspection. They were really weird about things for a few days and then just started doing the work we requested money at closing to take care of. In the end the only thing we're going to have to take care of on our own is fixing the hot water heater flue vent pipe.
Apr 24, 2017 12:34pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
May 1, 2017 3:18 PM
We close on our current house tonight. As of 4:30ish we will no longer own it. It's going to be weird living in it for the next few weeks. We also just got a text from our realtor, the house we are buying had water damage in the finished basement over the weekend. So that should be fun.
May 1, 2017 11:18am
S

slingshot4ever

Senior Member

4,085 posts
May 1, 2017 3:39 PM
We just closed on our current home this past Friday....final walk through of our new construction this Thursday....have until Memorial Day to get moved in and hand the keys over to our buyers
May 1, 2017 11:39am
S

slingshot4ever

Senior Member

4,085 posts
May 1, 2017 3:41 PM
TedSheckler;1849176 wrote:If they accepted an offer and you both signed the paperwork, it's a legally binding contract. You can sue if they try to back out.
I believe most real estate contracts have a clause allowing buyers to back out based on inspection findings if seller not willing to fix or provide concessions. Our home is 50 years old and we provided a concession of 2.5K to the sellers based on what the inspectors found as opposed to finding contractors to fix things and get it all done before closing....much easier
May 1, 2017 11:41am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
May 2, 2017 12:44 AM
We've officially closed and deposited a nice, fat check into the bank.

May 1, 2017 8:44pm
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
May 2, 2017 1:31 AM
May 1, 2017 9:31pm
OSH's avatar

OSH

Kosh B'Gosh

4,145 posts
May 2, 2017 11:33 AM
Signing with a realtor tomorrow. We'll see how much that will help in our tiny market.
May 2, 2017 7:33am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
May 2, 2017 3:28 PM
OSH;1851098 wrote:Signing with a realtor tomorrow. We'll see how much that will help in our tiny market.
Good luck.
May 2, 2017 11:28am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
May 9, 2017 2:12 PM
OSH;1851098 wrote:Signing with a realtor tomorrow. We'll see how much that will help in our tiny market.
It's only been a week, but any new news on your end?

We officially close on our new house tomorrow evening. Anyone ever request a separate closing so you didn't have to be in the same room as the other party? We had another incident with the sellers (just the husband) a couple weeks ago. We (my wife and our realtor) did a walk through with an electrician and the husband was there doing other work. He was a total asshole to all of them so when we were given the opportunity to close separately we jumped on it.
May 9, 2017 10:12am
ernest_t_bass's avatar

ernest_t_bass

12th Son of the Lama

24,984 posts
May 9, 2017 2:34 PM
justincredible;1852003 wrote:It's only been a week, but any new news on your end?

We officially close on our new house tomorrow evening. Anyone ever request a separate closing so you didn't have to be in the same room as the other party? We had another incident with the sellers (just the husband) a couple weeks ago. We (my wife and our realtor) did a walk through with an electrician and the husband was there doing other work. He was a total asshole to all of them so when we were given the opportunity to close separately we jumped on it.
Ours have always been separate. (Bought 3, sold 1).
May 9, 2017 10:34am
S

superman

Senior Member

3,582 posts
May 9, 2017 2:36 PM
justincredible;1852003 wrote:It's only been a week, but any new news on your end?

We officially close on our new house tomorrow evening. Anyone ever request a separate closing so you didn't have to be in the same room as the other party? We had another incident with the sellers (just the husband) a couple weeks ago. We (my wife and our realtor) did a walk through with an electrician and the husband was there doing other work. He was a total asshole to all of them so when we were given the opportunity to close separately we jumped on it.
I wish we had closed separately. We bought the house from a guy who loved it and was going through an ugly divorce and was being forced to give up the house. It was sad to see him giving it up but the worst part was the lady from the bank didn't understand social cues and kept asking really awkward questions.
May 9, 2017 10:36am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
May 9, 2017 2:47 PM
superman;1852005 wrote:I wish we had closed separately. We bought the house from a guy who loved it and was going through an ugly divorce and was being forced to give up the house. It was sad to see him giving it up but the worst part was the lady from the bank didn't understand social cues and kept asking really awkward questions.
That sounds rough.

We closed with the buyers of our house last week and they were great. We could not have asked for a better couple to buy it.
May 9, 2017 10:47am
OSH's avatar

OSH

Kosh B'Gosh

4,145 posts
May 10, 2017 7:18 PM
justincredible;1852003 wrote:It's only been a week, but any new news on your end?

We officially close on our new house tomorrow evening. Anyone ever request a separate closing so you didn't have to be in the same room as the other party? We had another incident with the sellers (just the husband) a couple weeks ago. We (my wife and our realtor) did a walk through with an electrician and the husband was there doing other work. He was a total asshole to all of them so when we were given the opportunity to close separately we jumped on it.
Signed. No news or sale yet. Dropped the price to $110,000 (down $5,000). Best day on Zillow yet was Sunday. Hopefully that's another step closer to unloading it. Wifey joins me in NKY in 17 days.
May 10, 2017 3:18pm
Terry_Tate's avatar

Terry_Tate

Senior Member

7,606 posts
May 10, 2017 10:10 PM
OSH;1852331 wrote:Signed. No news or sale yet. Dropped the price to $110,000 (down $5,000). Best day on Zillow yet was Sunday. Hopefully that's another step closer to unloading it. Wifey joins me in NKY in 17 days.
Haven't been completely following this thread but did you buy a house in NKY? I work in Taylor Mill and used to work in Florence until 6 months ago.
May 10, 2017 6:10pm
S

superman

Senior Member

3,582 posts
May 10, 2017 10:55 PM
Terry_Tate;1852365 wrote:Haven't been completely following this thread but did you buy a house in NKY? I work in Taylor Mill and used to work in Florence until 6 months ago.
If you ever want to eat lunch at Nuckin Futs hit me up.
May 10, 2017 6:55pm
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
May 11, 2017 1:07 PM
What parts of town do you other Cincinnati-area folks live? Terry, we're you on the west side at one point, or am I misremembering?
May 11, 2017 9:07am
justincredible's avatar

justincredible

Nick Mangold

32,056 posts
May 11, 2017 1:08 PM
As of last night I'm officially a Madisonville resident.
May 11, 2017 9:08am
fish82's avatar

fish82

Senior Member

4,111 posts
May 11, 2017 1:09 PM
Live and work in The WC. I actually lived in Madisonville when I first moved to town in 1989.
May 11, 2017 9:09am