re: Exiting purchase agreement as a home buyer

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I wish I knew what the legitimate comps were.

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I'll help you as much as I can. But if you don't know this important piece of info, no use in proceeding. wont' get a loan anyway and you would have put forth too much time and effort. your realtor should give you a print out.

Easiest way an average joe can get that information:

LINK

Do a search by your address. It should pull your detailed information up. Click on map and it will show your lot. If you click on your lot it will tell a wealth of information such as trash days, legal description, district, zoning. But find the lot on the map and click on it. It will give you the legal description.

Call 389-3920 (ext 1) which is the tax assessor and depending on how long it has been, ask for the most recent transaction. If it is recent they might not have it yet.

IF they don't then call the Clerk of Court at 389-3950 and ask for land records/conveyances. Give them the legal descripion and/or if you know the sellers name. Ask them for the most recent conveyance and they should be able to tell you the date, amount and who the seller and buyer were.

As far as the purchase agreement you can go one of two ways. Inform them of the items that don't meet code or could cause potential problems. If the roof isn't actively leaking then that should have been reflected in the offering price. If it is leaking then make them fix it because chances are it won't pass federal loan requirements. The wiring issues can be fixed relatively easy.

If you like the house then see if they are willing to give some seller concessions to help cover those costs to cure. I have never heard of an oversized A/C unless they bought a used one from Joe down the street and installed it themselves because no respectible A/C man would do that knowing that it would cause mold & mildew issues down the road due to cooling the house too quickly and not letting the a/c remove the humidity from the air.

If they are packing then chances are they are going to be more willing to negotiate those items because they could possibly already have deposits on a rental or purchase of themselves. I have had friends who would have gladly given up a couple of thousand dollars than have the buyer back out altogether.

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I always get a kick out of the folks around here who absolutely REFUSE to use a real estate agent, but will post their question on a message board and utilize the advice given here....

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::rollseyes::

I like hearing from people in my area that have had experiences. I already got out of the contract. No lawyer was needed. I just didn't know how socially acceptable it was..

I will be using a buyer's agent from now on for seeing and bidding on mls-listed properties. They can be pretty helpful. Due to downtown being a closely knit, niche market, I will not be using a realtor to sell, unless I fail. I'm in no hurry, though.

I agree that the average buyer should hire a buyer's agent. I can't tell you how many times I have seen an FSBO and a buyer who were both clueless and then they get mad at me when I turn in my report.

The seller calls me all mad saying that I don't know what I am doing and I ask them one question. "Where did your numbers come from?" Most common response is.....Well my neighbor's house just sold for "X" and my house is much nicer. I tell them I am human and that I make mistakes and will research the sale. Come to find out that the neighbor's house was 500 square feet larger and finished the same way as this seller's house. The only difference is the color of the wallpaper.

One day I will tell someone that they are an idiot and suck it. I am not at retirement age yet so I will hold that off until I am ready for no new customers.