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Repairs before closing?

SteveO

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Keep us informed on whether they accept this or not. It looks like a nice place. I do like the lake and land!
 
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CarrieW

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Hey steve since you know a bit about this n saw the pictures. That metal strap that is in front of the one set of blocks going into the ground is the hurricane strap right? I only went just in under. I wasn't crawling all over under there cause eww lol

Sent from my SCH-I200 using Tapatalk
 

SteveO

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Hey steve since you know a bit about this n saw the pictures. That metal strap that is in front of the one set of blocks going into the ground is the hurricane strap right? I only went just in under. I wasn't crawling all over under there cause eww lol
I don't know anything about hurricane straps. We live in AZ. The only protection we need here is something to keep us from melting and spontaneously combusting.
 

CarrieW

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LOL fair enough :p I am 90% certain that is the hurricane straps... I cant imagine what else it could possibly be...

anyone else know?
 
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CarrieW

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GAHHH!!!!!!!!!!!! LOL!!! they have accepted a full price cash offer :p all I have to say is that the Freddie mac people aren't the only ones who are going to be watching for the proper owner occupant usage on this house... I already stalk the sales and tax records on a daily basis LOL and its not too far from where we live so its on... LOL

so we are meeting the realtor at 5pm to put in a bid on the white house... I will let you know whats going on... I will let you know also what the finance guy says for shits and giggles.... and I got my prequel letter from the bank for the refi in 6 months LOL

only me I swear LOL
 

SteveO

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Way to hang in there on this one. It looks like you learned a lot from the process.
 

DreamPursuit

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LOL fair enough :p I am 90% certain that is the hurricane straps... I cant imagine what else it could possibly be...

anyone else know?
Hey Carrie, yes those are the tie-downs, to prevent the structure from flying away in a hurricane.

That sucks that they accepted another offer, but you're now much more knowledgeable about the whole process. Hang in there!
 
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CarrieW

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yeah my hubs was like omg why are you not upset? you just spent all that time for nothing!

I mentioned earlier that I have been getting familiar with the process of buying local tax liens... quite a good % of those have manufactured homes on them...(commercial, multi-family, sfh too oh my!)

how could I possibly be mad? :)

I know this knowledge will serve me well in the future ;)
 

CarrieW

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we are going to go ahead and bid on the white house tonight (less then an hour) wish us luck! I am going to keep an eye on this listing and once it opens if it opens I am going to see what I can do :p we will rent it out :) I don't know what happens to the first look period. if it pauses while its under contract or if it keeps ticking.

I got this little clearer of an explanation of what happened although I am pretty sure theres something fishy going on.

Carrie: Spoke with Amber, 2 more offers came in after this e-mail, full price, cash. Seller wanted only cash offers, rejected all others out of hand. Would have been nice if they had told us. Have 7 day due diligence but still has 1 full price, cash in the mix. So sorry, these banks can demand cash and get away with it because the price is so low. Thanks,
 

CarrieW

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lol I just got a return phone call from wells fargo... you don't even want to know what he said LOL
 
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CarrieW

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he said that I got bad information and that they could most likely do the loan LOL...

we just got home from putting in the bid on the white house... wish us luck!
 

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SteveO

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wow. That sucks. They put you through the ringer on faulty info.
 

CarrieW

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it wouldn't have mattered anyway... the house was probably under contract before yesterday...
 

CarrieW

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just got word... the white house people countered our offer. we countered back. will know in a few days
 
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CarrieW

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well...

the original place on the water has closed and gone off the mls. never opened up to investors. (didn't think it would)

as you know we put in a bid on the white house.

apparently that place is also not supposed to be ours because they are being ridiculous lol.

I just pulled our offer and told them nevermind we will go elsewhere. now they can hope someone else offers them more, cause I do not care how pretty the yard is or how nice it smells or how much potential is in the house I am not paying more then it is worth.

time to start looking again :(

I am actually really disappointed. I really liked this one. this was my first pick of everything we looked at... it sucks. still I am not paying more then I should idc if I like it or not...

after we reject their counter offer and pull out can they resubmit another counter to us after we bail?
 

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well...

the original place on the water has closed and gone off the mls. never opened up to investors. (didn't think it would)

as you know we put in a bid on the white house.

apparently that place is also not supposed to be ours because they are being ridiculous lol.

I just pulled our offer and told them nevermind we will go elsewhere. now they can hope someone else offers them more, cause I do not care how pretty the yard is or how nice it smells or how much potential is in the house I am not paying more then it is worth.

time to start looking again :(

I am actually really disappointed. I really liked this one. this was my first pick of everything we looked at... it sucks. still I am not paying more then I should idc if I like it or not...

after we reject their counter offer and pull out can they resubmit another counter to us after we bail?
Of course they can.
 
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yveskleinsky

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How much over FMV was this house?
 

CarrieW

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this house is a rehab so fmv is subjective in my opinion...

I do not have an appraisal but from what I think it is listed at least 20k more then its really worth as it stands...

the house was listed at 87k. we offered 70k with 4200 seller assist... as I said this house is in need of work. some could be extensive. it has water damage. it is ugly as sin and old and smells musty. built in 1950 never been updated. what was updated was hacked in... it needs to be gutted.

there is also an issue with the property lines. the neighbor is at least 18 inches over the property line WITH HER HOUSE not a fence not a shed the actual whole addition on her house is over the line.

so of course in the offer we asked that they survey and adjust the plat with the county for the neighbors intrusion.

they countered 85k as is no survey or adjustment 4200 seller assist.

we responded 75k 4200 seller assist and adjust the plat(I am not the ones who let the neighbor put their house there...LOL)

that was last week. Monday. we gave them until Friday @ 5. Friday at noon they ask us to have until Monday we are told they have a surveyor coming out over the weekend. so fine w/e I said ok...

So Tuesday we still have no answer. I told them that my husband was going out of town Wed and we needed an answer.

today(after hes gone) they come back with 83500 w/4200 seller assist, no survey or adjustment and they want another letter from my lender approving the property (cause its a rehab and its usda and they are idiots its right on the paper we sent it allows for rehabs grrr)

the house really in my opinion isn't worth a penny more then what I offered to begin with, my husband wanted to offer 60! if I was going to rehab n sell it Id offer even less! (our realtor said 77k would be fair offer) I only offered 70 and went up to 75 to get the contract I was going to knock them down more after my inspection...

we need to put a min of 40k to rehab whats there (barring a major issue on the flood dmg wall) and that's basically market value after rehab... right around 115k... I wanted to put more money and add a master suite and bath...(that's why the target was under 65K) but they are crazy... and its been on the market for over 6 months. LOL

only by getting it cheap enough to add my master suite will I get any real equity... the property is beautiful but they are asking far too much for what needs to be done to that place...
 

CarrieW

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put in another bid on another house yesterday :) fingers crossed... no negotiation on this one we went in at our full budget/mortgage amount...

this place doesn't need anything :)

if we end up getting our offer accepted I will post pics :D
 
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CarrieW

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multiple offer situation :( we are at highest and best already. sent back exactly that.

now there is another house. we are going to look at tomorrow. if it is decent we need to put in an offer right away as its another first look foreclosure

does anyone have any ideas on creative wording to put in the new contract being subject to the first/other offer being accepted?

we probably wont hear until Monday or Tuesday about the Clyo house, If we wait to hear and it ends up being that we got outbid again on the first place then we will run the risk of someone else getting a bid in before us on the newly listed house... (its first weekend on the market)

if the other/first offer gets accepted we can withdraw the second obviously... and we will have contingency time on both also.

so I need to lock this stuff up, but without screwing up something. My realtor was like oh well you cant do that because what if both get accepted. I am thinking/knowing there HAS TO BE A WAY!

so please any advice would be greatly appreciated :)

and yes I know I need a different realtor but I kinda like this one LOL she does what shes told :p the other few I have found have given me nothing but inaccurate advice, and or I just plain out disliked... even if I have to help with clauses and things at least this one doesn't try to tell me incorrect information like she knows everything ;) and even when she disagrees she does what I ask...

she is just not used to people doing things creatively ;)

idk why but they wont let you buy a gov foreclosure without an agent... our buyers contract is up with this lady on may 31st our mtg approval or whatever is extended to june 1st eligible for one more extension before I have to reapply... I just want to get a frickin house already :(
 

CarrieW

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they accepted the other offer :)

we are never going to find a house we like that is an acceptable price LOL
 

Windsurfer

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built in 2008 vacated in 2011

Should you be worried that the house was built in 2008 but already has foundation issues? Is there an underlying problem that will give you the same issues in a couple of years again?

A lot of us have put tons of offers on houses out there, but just had a few accepted. Houses are like members of the opposite sex - another attractive one comes out of the blue all the time.
 
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CarrieW

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it was a manufactured home, and there wasn't a foundation issue per say... it was just not what was wanted by the lender...

this is the 3rd house I am trying to buy... definitely not hundreds... and its for our home, not an investment... the first 2 were easy. first one we picked and got, second was from our own family's estate, and now this. I think we are going on to our 5th offer now? that is if we can find another house we like LOL

if it were investments it would be easy, knowing I have to live in it and pay the mortgage myself changes the game... I could have bought multiple rental/investment properties in the time its taking me to find one frickin house to live in...

we have a vision of what we want, the question now is do we stay the course or change our vision...
 

CarrieW

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going @ 1230 to see another house... again... this one is not a foreclosure... there are 0 pictures on the listing so that's a bit scary... asking price is close to our max. and its vacant, listed for over a yr... the condition of the inside will determine our opening offer (if we decide to make one) ;)


edit to add

put in a bid. under asking. needs rehab work 2 bathrooms and the kitchen, flooring etc. heater/ac unit works but unsure of age. its not anything special and definitely not what we were looking for but its a house it'll work

fingers crossed
 
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CarrieW

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the offer above was countered... and subsequently rejected. people want top dollar for their rehabs... we have submitted another bid... this is it.

if this bid doesn't get accepted we are bowing out for a bit... we have looked at hundreds of properties... bid on I lost count how many...

we will look again starting in spring... we have been looking since January :(
 
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SteveO

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Why give up? This is part of the process.
 

CarrieW

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because we were looking for a house and wanted to be in before summer(really before spring I wanted to have my garden up). we are going to just put up the pool here instead. if we wait a little bit longer we can have 20% down and no restrictions on the loan. the loan we are using has land and sq ft restrictions.

the last 3 or 4 offers were on houses we didn't even like, we are just so sick of looking. we were just going to take anything. now I am working on my invention and we all could really use a break. (everytime we go look the kids complain lol they are sick of looking too) buying something we don't like just to get it over with is silly. so we are going to step back put up the pool get a new grill and enjoy the summer and holidays where we are :) if the invention thing works out we are leaving the state to head back to pa anyway, it would make no sense at all to move now and then in less than 90 days be moving 800miles away.. (I wasn't going to put off house searching for the invention's sake but it does makes a certain amount of sense to see what happens first) the fact that we cant find anything we like, everything we do bid we lose out on (even when bidding over asking twice!)and its official if anyone wants to sell a house just get me to want it and the offers will flood in! (this last one was lowered on may 13th not one offer till we submitted ours then there were suddenly 3 others in 24 hours like really?) the universe is screaming its not time!

I will still keep my eyes open for new listings but unless the perfect property pops up we are going to wait. we have been missing events and doing things to go house hunt :( the mtg we had, the extension ran out on june 1st so we have to make a new application. and that will only be good for 60 days. I don't want to keep doing it over and over as an exercise. if we find something I can get the stubs and statements they need and resubmit within 5 days of offer if I want, but once we have the full 20% we wont use the 100% usda loan... so depending on when the right place magically appears will determine what loan we use ;)

just the fact that I no longer know how many offers we have put in is enough to cause me to take a break. I know everything I remember everything. and its now all just become a blur LOL

yes It is definitely time for a break :)
 

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