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re: Need help with house buying
Posted on 6/5/18 at 7:44 am to hottub
Posted on 6/5/18 at 7:44 am to hottub
quote:
Home inspection will come back with something that will need to be repaired. That is your scapegoat if you don’t like the house.
This. "Contingent upon inspection." Very normal thing that literally every buyer should have in their contract anyway.
Also pretty sure contingent upon financing is written into almost all real estate deals as obviously the deal won't close without it.
Posted on 6/5/18 at 7:47 am to baldona
Yep. See above.
I just bought a house sight unseen bc I’m living overseas. Plan was if all didn’t pan out with the inspection that would be the exit point.
I just bought a house sight unseen bc I’m living overseas. Plan was if all didn’t pan out with the inspection that would be the exit point.
Posted on 6/6/18 at 7:09 am to GREENHEAD22
Put in an offer contingent on inspection. Then inspect the house. If the house is shite, use contingency to bail and recoup escrow.
Edit - You should always get a qualified licensed home inspection. But if you walk in and hate the house, you don't need to pay someone to walk away. You can act as your own inspector.
Edit - You should always get a qualified licensed home inspection. But if you walk in and hate the house, you don't need to pay someone to walk away. You can act as your own inspector.
This post was edited on 6/6/18 at 7:11 am
Posted on 6/6/18 at 11:30 am to lnomm34
quote:
The word you’re looking for is ‘accept.’
He's looking for a lot of words there. Rescind being one of them.
Posted on 6/6/18 at 6:07 pm to baldona
quote:
Also pretty sure contingent upon financing is written into almost all real estate deals as obviously the deal won't close without i
In hot markets or when it’s a FSBO (no agents involved), the purchaser has to make sure that contingency is there, if they want it there. Without it (or if you let the contingency expire without giving proper notice or following the financing conditions), it becomes a cash contract. Some buyers want the contingency, while others don’t need to line up financing and want to present a strong(er) cash contract.
Even on a boilerplate Realtor’s contract, there’s a section where that contingency has to be activated. That’s how they are in VA anyway.
Just something to keep in mind...
Posted on 6/10/18 at 11:45 am to GREENHEAD22
If I were seller I wouldn’t accept an offer from a buyer that hadn’t been shown the house. Especially if the market is what you’ve described
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