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Started By
Message
EDIT: Real Estate Help: Selling a home/Owner dropped f/financing
Posted on 4/23/20 at 2:19 pm
Posted on 4/23/20 at 2:19 pm
I got an offer today... let me know if there's anything that I should be worried about:
On market since 20 Dec in south Georgia
Listed at $234900
Offer is $230000
They want me to pay all closing up to $6900
Buy a 1-yr home warranty up to $580
Set aside $2000 for potential repairs that come up on inspection
Take care of termite, well and septic inspections
Pay my share of the property tax: Jan thru closing
In this covid market... are they asking too much or being that I'm in the military and I'm tired of paying two house payments, should I just jump on it?
On market since 20 Dec in south Georgia
Listed at $234900
Offer is $230000
They want me to pay all closing up to $6900
Buy a 1-yr home warranty up to $580
Set aside $2000 for potential repairs that come up on inspection
Take care of termite, well and septic inspections
Pay my share of the property tax: Jan thru closing
In this covid market... are they asking too much or being that I'm in the military and I'm tired of paying two house payments, should I just jump on it?
This post was edited on 5/1/20 at 5:50 pm
14
Posted on 4/23/20 at 2:21 pm to Ron Cheramie
Yes
Posted on 4/23/20 at 2:28 pm to cubsfan5150
I know nothing about real estate, but that’s asking a lot
Posted on 4/23/20 at 2:33 pm to cubsfan5150
I wouldn't set aside jack shite for potential repairs if youre paying all closing costs. Not to say I wouldn't renegotiate if they found something in the 500-1k range but I would kick it back agreeing to everything but that and say we can discuss other things after inspection.
Posted on 4/23/20 at 2:35 pm to cubsfan5150
Sounds like they’re short on cash
Posted on 4/23/20 at 2:37 pm to cubsfan5150
quote:
Buy a 1-yr home warranty up to $580
Set aside $2000 for potential repairs that come up on inspection
Take care of termite, well and septic inspections
i did the same when i sold home in Feb and agreed on $10k less than I was asking. repairs are usually paid by seller
quote:
They want me to pay all closing up to $6900
i would counter with the buyer to pay half of closing cost
This post was edited on 4/23/20 at 2:38 pm
Posted on 4/23/20 at 2:43 pm to cubsfan5150
Jump all over it. A bird in the hand is worth 2 in the bush in this environment.
Posted on 4/23/20 at 2:47 pm to cubsfan5150
The seller I bought from agreed to 3% closing costs, 0.75% repairs, $500 home warranty, and $500 termite treatment. I think these may be pretty normal requests for a first offer on a home that has been on the market for a while,
Posted on 4/23/20 at 2:53 pm to cubsfan5150
A few comments and questions
Comments
The price is good
Negotiate the closing costs.
Home warranty is a fair request
You will have to pay prop tax for time you owned it but no way you should pay for their ownership.
questions
How old is the house?
Do you have treatment for termites now?
Are you aware of any issues?
Don’t be afraid to ask your agent to buck up if it means keeping /sealing the deal.
Comments
The price is good
Negotiate the closing costs.
Home warranty is a fair request
You will have to pay prop tax for time you owned it but no way you should pay for their ownership.
questions
How old is the house?
Do you have treatment for termites now?
Are you aware of any issues?
Don’t be afraid to ask your agent to buck up if it means keeping /sealing the deal.
Posted on 4/23/20 at 2:57 pm to SlidellCajun
Built in '96
No termite treatment and never saw any in the 7 years that I owned it.
Any issues were already disclosed, so even if I eat the $2k, I think I'm prepared for it.
Paying to house payments, utility bills and all that shite isn't fun, so I'll probably just roll with the offer.
At best I figure I'd get out of paying $2-$3.5K, which isn't an insignificant amount, but not worth losing the deal over IMO.
No termite treatment and never saw any in the 7 years that I owned it.
Any issues were already disclosed, so even if I eat the $2k, I think I'm prepared for it.
Paying to house payments, utility bills and all that shite isn't fun, so I'll probably just roll with the offer.
At best I figure I'd get out of paying $2-$3.5K, which isn't an insignificant amount, but not worth losing the deal over IMO.
Posted on 4/23/20 at 3:12 pm to cubsfan5150
quote:
They want me to pay all closing up to $6900
Buy a 1-yr home warranty up to $580
Set aside $2000 for potential repairs that come up on inspection
Take care of termite, well and septic inspections
Pay my share of the property tax: Jan thru closing
I'd try to negotiate closing but not a deal killer. I'd tell them they can get their own inspections at their own expense. Tell them to kick rocks on $2k for repairs - define what would be a repair compared to an upgrade. Fine with property tax payments.
quote:
I'm in the military and I'm tired of paying two house payments
Doesn't this trump everything else? Sounds like you want the house gone
Posted on 4/23/20 at 3:20 pm to cubsfan5150
They gave you a good offer knowing that they’ll hit you for all the other stuff.
They’ll have an inspector ring up a list of things that need fixing no matter what.
IMO, you’re probably ready to unload it and each day costs you so probably no reason to dicker too much.
Posted on 4/23/20 at 3:31 pm to cubsfan5150
If you agree to the $2k they will find something to spend the $2k on.
Negotiate on the closing costs.
Counter their offer, let them counter your counter, then take it.
Negotiate on the closing costs.
Counter their offer, let them counter your counter, then take it.
Posted on 4/23/20 at 3:35 pm to HailToTheChiz
I just called my realtor and asked him to give their realtor a call and tell them that I'm good with everything but the closing costs and see if we can negotiate that without presenting a formal counter offer and negating their offer.
Posted on 4/23/20 at 4:00 pm to cubsfan5150
quote:
No termite treatment and never saw any in the 7 years that I owned it.
This is a potential issue, is it not under contract from a company?
When was septic last serviced?
Posted on 4/23/20 at 4:11 pm to Dawgfanman
No, no contract.
Last serviced septic when I moved in.
Any recs for home warranty companies?
Last serviced septic when I moved in.
Any recs for home warranty companies?
Posted on 4/23/20 at 4:11 pm to cubsfan5150
quote:
They want me to pay all closing up to $6900
That is a lot. I’d negotiate that down if you can.
quote:
Set aside $2000 for potential repairs that come up on inspection
Set aside where? The whole point of the inspection period is to find mechanical issues and address them during that time. It seems very odd to me that they are asking you to “set aside” money for something that may not even come up.
Posted on 4/23/20 at 4:14 pm to cubsfan5150
quote:
No, no contract. Last serviced septic when I moved in. Any recs for home warranty companies?
Be ready for termite guy to find a reason they must treat. I’d change wording on the septic to “service/pump” from inspect or at a minimum visually inspect.
Posted on 4/23/20 at 4:19 pm to Dawgfanman
If I remember correctly, the septic inspection is a state inspection, so I'm not too concerned about it. Hopefully my realtor will call back soon and say that they'll adjust the closing costs and I'll take the offer.
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