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re: Buying a house, issue with seller. Advice appreciated
Posted on 5/20/15 at 3:02 pm to oreeg
Posted on 5/20/15 at 3:02 pm to oreeg
quote:
You should be able to get your deposit back. Depending on the state, the deal is contingent on financing. If the financing doesn't clear, you should be entitled to the deposit. It's worth a fight.
Good point... hopefully the agreement was written with that contingency.
0
Posted on 5/20/15 at 4:13 pm to LSUFanHouston
I think she'll let her emotion lead her rather than logic and want to cancel. Yes, my deposit is with escrow and I can get that back. But I've spent money on appraisal, fees, inspections, etc.
And more than that I've lived there almost 3 years now and my wife loves the place and we both really want to own it. I'm still debating calling her bluff..
And more than that I've lived there almost 3 years now and my wife loves the place and we both really want to own it. I'm still debating calling her bluff..
Posted on 5/20/15 at 4:16 pm to LSUFanHouston
quote:
There is no way you can compare a paycheck, which you worked for in advance, with the complexities of a real estate transaction where really, the buyer is at the mercy of the bank.
Thank you.
Posted on 5/20/15 at 4:27 pm to Joe D Grinder
I'm not necessarily saying it's your fault, but I wouldn't close on selling my house without the money in hand.
Posted on 5/20/15 at 4:58 pm to Joe D Grinder
What happens is the seller will need to make an additional monthly payment on the house, which is likely 60% or more interest.
If nothing else, their loan payout amount will be higher after that date, so they will have to pay more to pay the loan off
If nothing else, their loan payout amount will be higher after that date, so they will have to pay more to pay the loan off
Posted on 5/20/15 at 7:51 pm to Joe D Grinder
quote:
I think she'll let her emotion lead her rather than logic
quote:
I've lived there almost 3 years now and my wife loves the place and we both really want to own it.
Sounds like you're being led by your emotion as well.
In all honesty, with the seller apparently covering things up regarding her residency and stuff like that I don't know that this is a good transaction to start with. But if you want it anyway, I doubt she'll walk that easily given that she's that eager to sell quickly.
One last point - I'm all in favor of private transactions sometimes but having a realtor at least advising you here might have been a good idea.
Posted on 5/20/15 at 8:04 pm to foshizzle
We're being led by emotion because we want to buy the house we've been living in and that is a good deal because we did it without a realtor? Seems logical to me to not only want to buy it but not pay more than the agreed upon price.
Yes, a realtor would have been good in some ways no doubt, but we got the price minus a realtor's commission so it's a great deal. Same money to her but 5% better for us.
Yes, a realtor would have been good in some ways no doubt, but we got the price minus a realtor's commission so it's a great deal. Same money to her but 5% better for us.
Posted on 5/20/15 at 8:28 pm to Joe D Grinder
I think his point is there are some red flags in the story you have shared so far but you seem commited because this is already "your house"
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