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Started By
Message
Just put in an offer on a house. Looking for some guidance on the process from here...
Posted on 4/14/25 at 10:58 am
Posted on 4/14/25 at 10:58 am
So now the realtor is running all of these inspections by me and add ons and of course I want to be prudent about the house, but also don't want to get ripped off.
As of yesterday it had no offers and we are going to offer them asking price with the only caveat to pay buyers realtor fee.
Of course we are doing an inspection + termites + radon. House was lived in by an older couple but has a new roof and HVAC and all new appliances outside of the dishwasher. Not gonna lie I bet that old dishwasher works better than the new one I have in my current house that can't clean worth a shite.
Mostly what we will have to do is landscaping, repainting, and probably refinish the hardwood floors and probably replace the old vinyl flooring where they have it. It's also on just a big enough property that we might need to invest in a riding mower.
He's also trying to sell me personal title insurance in addition to the lenders title insurance which I am unsure about. To me that seems like the biggest potential scam.
ETA: offer has been accepted to this is getting real. I am going to start researching inspectors tomorrow.
As of yesterday it had no offers and we are going to offer them asking price with the only caveat to pay buyers realtor fee.
Of course we are doing an inspection + termites + radon. House was lived in by an older couple but has a new roof and HVAC and all new appliances outside of the dishwasher. Not gonna lie I bet that old dishwasher works better than the new one I have in my current house that can't clean worth a shite.
Mostly what we will have to do is landscaping, repainting, and probably refinish the hardwood floors and probably replace the old vinyl flooring where they have it. It's also on just a big enough property that we might need to invest in a riding mower.
He's also trying to sell me personal title insurance in addition to the lenders title insurance which I am unsure about. To me that seems like the biggest potential scam.
ETA: offer has been accepted to this is getting real. I am going to start researching inspectors tomorrow.
This post was edited on 4/14/25 at 7:19 pm
32
Posted on 4/14/25 at 11:02 am to jlovel7
quote:
As of yesterday it had no offers and we are going to offer them asking price
Strike 1. Never pay full price for anything.
My only advice is to get the inspection report back and force them to come off the price another several thousand bucks due to repairs you want to make. You will hold all the cards as they prob have already made plans to move.
Posted on 4/14/25 at 11:02 am to jlovel7
Congrats on the house bro!! I haven't bought a house in 35 years when things were much easier so I have no advice but congrats!
Posted on 4/14/25 at 11:02 am to jlovel7
If the bank doesn't require title insurance, don't get it. The closing attorney has a malpractice policy that is just as effective at collecting against.
Posted on 4/14/25 at 11:02 am to jlovel7
quote:
As of yesterday it had no offers and we are going to offer them asking price with the only caveat to pay buyers realtor fee.
The market sucks and if it hasn't had an offer ask for way less.
Posted on 4/14/25 at 11:02 am to jlovel7
Title insurance should be pretty cheap. Probably want to do that one.
Professional inspections are a good idea. I wouldn't worry about Radon but that is just me. That subject is very political. The radon test doesn't cost much but if they suggest radon mitigation after the test, I'd highly suggest researching how dangerous Radon actually is before spending $2k on mitigation and how they "determined" what actual unsafe levels of radon are. It is quite eye opening.
Professional inspections are a good idea. I wouldn't worry about Radon but that is just me. That subject is very political. The radon test doesn't cost much but if they suggest radon mitigation after the test, I'd highly suggest researching how dangerous Radon actually is before spending $2k on mitigation and how they "determined" what actual unsafe levels of radon are. It is quite eye opening.
Posted on 4/14/25 at 11:03 am to jlovel7
Always have “relations” with the hot female realtor.
I have seen all the movies about it.
I have seen all the movies about it.
Posted on 4/14/25 at 11:03 am to jlovel7
There are people that have successfully scammed others and transferred house titles to scammer name.
What does title insurance cover?
What does title insurance cover?
Posted on 4/14/25 at 11:04 am to jlovel7
Your realtor should be able to answer any question you might have and guide you thru the whole process.
This post was edited on 4/14/25 at 11:06 am
Posted on 4/14/25 at 11:05 am to jlovel7
quote:
If the bank doesn't require title insurance, don't get it.
Going to have to disagree on this one. I would be surprised if the mortgage company doesn't require it though.
Easy enough to do your on radon inspection (even though it is better in the winter).
Radon Meter
This post was edited on 4/14/25 at 11:08 am
Posted on 4/14/25 at 11:06 am to jlovel7
If you’re financing and will have a mortgage, the bank will require title insurance on its mortgage - the owners policy in conjunction with the loan policy is $100-200 extra. It’s a no brainer to get it.
If you are not financing, well, you decide if the risk is worth it.
If you are not financing, well, you decide if the risk is worth it.
Posted on 4/14/25 at 11:07 am to BabyTac
quote:
Strike 1. Never pay full price for anything.
Went 0 for 5 on offering under on houses in 35242. 6th offer was accepted at $2500 over asking via escalation clause. Not sure where you are but my local housing market is ridiculous and if you’re trying to move it’s going to be a tough road to continue going under asking. We did go over but they are also replacing the hot water heater and doing some septic stuff so ultimately it’s a wash.
Posted on 4/14/25 at 11:07 am to SECdragonmaster
quote:
Always have “relations” with the hot female realtor.
per my experience, the "hot" realtor is usually aboot 50 lbs heavier without all the filters.
Posted on 4/14/25 at 11:07 am to jlovel7
quote:
He's also trying to sell me title insurance which I am unsure about. To me that seems like the biggest potential scam.
You will be required to purchase title insurance to insure the lender. Is there a reason why you wouldn't want to protect yourself as well against potential title defects?
Hint: Buy the peace of mind that title insurance provides.
Posted on 4/14/25 at 11:09 am to jlovel7
quote:pics?
So now the realtor is running all of these inspections by me
Posted on 4/14/25 at 11:10 am to jlovel7
How long has it been on the market for?
Title insurance is not a scam, it will protect you from title fraud.
Title insurance is not a scam, it will protect you from title fraud.
Posted on 4/14/25 at 11:11 am to parrothead
quote:
Went 0 for 5 on offering under on houses in 35242.
Humble brag
Posted on 4/14/25 at 11:13 am to jlovel7
quote:
As of yesterday it had no offers and we are going to offer them asking price with the only caveat to pay buyers realtor fee.
Do you not research? Get on Zillow. Look at recent sales. Look at asking, then look at the actual sale price on the tax acessor website. Geez.
Hint: It's been about 10-20% below recently.
Posted on 4/14/25 at 11:14 am to dlambe5
quote:
Your realtor should be able to answer any question you might have and guide you thru the whole process.
Not saying I trust this board (although it does often shine in ways we all enjoy when the community needs it) more, but I will never EVER trust a realtor.
There's no way I can get over the mental block of whatever realtor I hire trying to squeeze me for all I'm worth.
Posted on 4/14/25 at 11:14 am to jlovel7
quote:Doesn't the seller normally pay that?
pay buyers realtor fee
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