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Message
Hit a Snag Selling my House-2nd Update Page 2
Posted on 12/13/11 at 8:09 pm
Posted on 12/13/11 at 8:09 pm
Signed purchase agreement a while back. Gotta close by 12-19. Financing and appraisal contingency, but NO INSPECTION.
Appraisal comes back today. Appraiser is bitching because of a cracked window pane in the garage and the bathroom vent fan doesn't go outside and some other bullshite. They want $2,000.
What the frick is this? That's a goddamn inspection. My RE didn't have the appraisal itself, and didn't know the appraised value. After chewing said realtor's arse, I told her to get the appraisal. If it's valued at or above the selling price, those fricktards just bought a house.
Or am I wrong on this? An appraiser determines the value of a property AS IS. They don't go in and find flaws.
Looking for input from the MT smart folks. Help me out and I'll post babes. I take requests; asians, fat chicks, whatever.
ETA:
I got the appraisal today. AS-IS, the house is appraised slightly above the selling price. I told my realtor to tell the buyer to frick themselves in the arse; they just bought the house. The purchase agreement does not have an appraisal contingency and they were trying to frick me out of $2k, but Homey don't play that.
The requisite fat chicks:
Appraisal comes back today. Appraiser is bitching because of a cracked window pane in the garage and the bathroom vent fan doesn't go outside and some other bullshite. They want $2,000.
What the frick is this? That's a goddamn inspection. My RE didn't have the appraisal itself, and didn't know the appraised value. After chewing said realtor's arse, I told her to get the appraisal. If it's valued at or above the selling price, those fricktards just bought a house.
Or am I wrong on this? An appraiser determines the value of a property AS IS. They don't go in and find flaws.
Looking for input from the MT smart folks. Help me out and I'll post babes. I take requests; asians, fat chicks, whatever.
ETA:
I got the appraisal today. AS-IS, the house is appraised slightly above the selling price. I told my realtor to tell the buyer to frick themselves in the arse; they just bought the house. The purchase agreement does not have an appraisal contingency and they were trying to frick me out of $2k, but Homey don't play that.
The requisite fat chicks:
This post was edited on 12/15/11 at 2:49 pm
11
Posted on 12/13/11 at 8:13 pm to Cold Pizza
quote:
An appraiser determines the value of a property AS IS. They don't go in and find flaws. .
I am not very smart but that makes sense to me. They should devalue the house because of flaws, but not sure they should disclose them.
Posted on 12/13/11 at 8:38 pm to Janky
If it is an FHA loan, the appraiser has to make sure that the home fits within FHA guidelines, so it's an appraisal/inspection.
Posted on 12/13/11 at 8:46 pm to Cold Pizza
quote:
Appraiser is bitching because of a cracked window pane in the garage and the bathroom vent fan doesn't go outside and some other bullshite. They want $2,000.
That's ridiculous. First, appraisers usually don't even look at a house and if they did they would be looking at obvious problems such as roof and foundation, not going inside to see how a bathroom vent fan is routed. It sounds more like an inspection was done.
Seond, there is no way those repairs should cost $2,000. The cracked window pane, assuming standard single-pane glass (which for a garage is most likely), $200 max. And every bathroom vent fan I've ever seen only goes into the attic, not to the outside; if it is bad maybe $100 for the fan and to put it in. If you were in the DFW area I could have provided references to get the work done.
Posted on 12/13/11 at 8:53 pm to Quidam65
I wouldn't want to smell your attic. Most bathroom vents are vented outside, not into the attic.
Posted on 12/13/11 at 9:05 pm to guttata
Just have those two items fixed...probably less that $500 max...I wouldn't hand over $2000, just have them write in the contract that those two items will be fixed within a certain time period, easily fixed...
Posted on 12/14/11 at 12:21 am to guttata
quote:
I wouldn't want to smell your attic. Most bathroom vents are vented outside, not into the attic.
Not the fart fan vent - those almost always vent only into the attic.
You might be thinking of the primary vents which do vent up through the roof (the pipes you see sticking through roofs).
Posted on 12/14/11 at 2:20 am to !Tiger
quote:
If it is an FHA loan, the appraiser has to make sure that the home fits within FHA guidelines, so it's an appraisal/inspection.
if that was the case they would be demanding he fixes the problems, not taking money off the purchase price.
Posted on 12/14/11 at 6:57 am to Alabama Slim
bathroom fans vent outside through the roof or outside through soffit
this is standard practice, never heard of terminating in the attic
this is standard practice, never heard of terminating in the attic
Posted on 12/14/11 at 7:28 am to Cold Pizza
quote:
Appraisal comes back today. Appraiser is bitching because of a cracked window pane in the garage and the bathroom vent fan doesn't go outside and some other bullshite. They want $2,000.
So does this mean the appraiser hired by the buyer's lender valued the house $2k under the selling price?
quote:
My RE didn't have the appraisal itself, and didn't know the appraised value.
I don't believe they normally do that.
quote:
After chewing said realtor's arse, I told her to get the appraisal.
So, you're going to do a counter-appraisal to rebut the original appraisal done by the buyer's lender?
quote:
If it's valued at or above the selling price, those fricktards just bought a house.
What? Is this something stipulated in the purchase agreement?
quote:
Or am I wrong on this? An appraiser determines the value of a property AS IS. They don't go in and find flaws.
Why not? Significant flaws can certainly affect the value of the house. Doesn't sound like yours are that significant, though. You really should have gotten the window fixed - just sends out a bad vibe IMO.
Posted on 12/14/11 at 7:50 am to Cold Pizza
So why not just replace the window pane and vent the bathroom vent fan yourself. Probably won't cost more than $250 for both.
Fat chicks, please.....
Fat chicks, please.....
Posted on 12/14/11 at 9:31 am to Cold Pizza
In my business we come across issues with appraisals all the time.
Some are in the school of thought that the appraiser's job is to determine and justify fair market price. If the buyer is aware of these issues and has already agreed on the price, isn't that fair market price?
Just a thought by some. I don't deal in residential property mortgages, so their rules might be different.
Some are in the school of thought that the appraiser's job is to determine and justify fair market price. If the buyer is aware of these issues and has already agreed on the price, isn't that fair market price?
Just a thought by some. I don't deal in residential property mortgages, so their rules might be different.
Posted on 12/14/11 at 9:42 am to Nuts
I would assume like another post stated that the purchaser is not using and FHA loan or they would require the repairs to be made and re-inspected.
Posted on 12/14/11 at 10:35 am to Cold Pizza
quote:
Financing and appraisal contingency, but NO INSPECTION.
I would think any real estate transaction is contingent upon the buyer inspecting the property.
besides, he could just have his financing "fall through" and he's out of the contract anyway.
Posted on 12/14/11 at 3:09 pm to TortiousTiger
As mentioned earlier, this sounds like an FHA issue. FHA loan gives the buyer certain protections and will not approve the loan unless the house meets certain standards. Its a reason why sellers prefer non FHA loans when they have a choice. Also, FHA picks some weird arse appraisers that dont necessarily come from the local area, so they sometimes come up with some off the wall stuff.
Posted on 12/14/11 at 3:10 pm to !Tiger
quote:
Not the fart fan vent - those almost always vent only into the attic.
New Construction building codes (EBR) require the "Fart Fan" to be vented outside the shell of the building. Easy Fix - Go to home depot and get a 5 ft section of 3" hard tube and 10 ft' of Flex Tubing (Will be in the HVAC area). Go into attic and attach with flex duct on one end pointing the hard tube to an existing penetration (roof vent) and problem solved. Should not be more than $30 materials. Problem solved.
I believe standard purchase agreements allow the buyer an out with respect to possible deficiencies. Check the prescriptive periods to make sure all were met. I would argue however that the cracked window was visible by the owner at time of visit (Known deficiency) and that given the sale of an existing residence "as is," offer was made without reference to window, so buyer SOL.
Just fix the other and let it go. Tell them vent will be modified by time of closing. Inspector will have to go back out on buyer's nickel and check those two things.
Posted on 12/14/11 at 3:36 pm to blueTunaTiger
asking for $2,000 for those 2 items is crazy.
this is 100% correct. Section R303.3 if anyone cares. The only exception is that if there is a window of 3 square feet where at least 1.5 square feet is openable for ventalation.
As for the window on the garage... fix it to. You can do them both for a few hundred.
quote:
New Construction building codes (EBR) require the "Fart Fan" to be vented outside the shell of the building.
this is 100% correct. Section R303.3 if anyone cares. The only exception is that if there is a window of 3 square feet where at least 1.5 square feet is openable for ventalation.
As for the window on the garage... fix it to. You can do them both for a few hundred.
Posted on 12/14/11 at 4:50 pm to blueTunaTiger
quote:
I believe standard purchase agreements allow the buyer an out with respect to possible deficiencies.
Not really... usually there is an inspection period where the buyer can (in writing) present the seller with the deficiencies and the seller can either fix them in x amount of days or choose not to and both parties walk. As long as the seller fixes the deficiencies presented to them, then the buyer is absolutely still on the hook. The standard remedy for either party defaulting is either specific purpose or 10% of the contract price. If they walk after you fix these two items,,, you can force them to buy it (specific purpose) or get 10% of the contract price b/c they broke the contract.
ETA,,, It all depends what's in the contract the two of you agreed to... it should all be in there.
This post was edited on 12/14/11 at 4:51 pm
Posted on 12/14/11 at 9:32 pm to Cold Pizza
bump with updates
Posted on 12/15/11 at 9:53 am to Cold Pizza
If it is an issue with the appraiser, giving 2k to the buyers will not resolve the issue.
Appraisers have been given crazy powers to stop a purchase of a home. If the appraiser is wanting something done to satisfy his appraisal, and you want to sell the house, then fixing the required items would be the best way to go.
Appraisers have been given crazy powers to stop a purchase of a home. If the appraiser is wanting something done to satisfy his appraisal, and you want to sell the house, then fixing the required items would be the best way to go.
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