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re: Just put in an offer on a house. Looking for some guidance on the process from here...
Posted on 4/14/25 at 4:39 pm to jlovel7
Posted on 4/14/25 at 4:39 pm to jlovel7
quote:
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.
Then you probably should just do it all yourself….
I dabble in real estate, let’s say I’m haggling over $40,000 for you. That $40,000 in a best case scenario means $1200 to me before my broker takes a cut. If you think I’d screw you over for relative Pennies, you shouldn’t have hired me in the first place.
I didn’t mean to come off as aggressive, but I’ve seen that line of thinking plenty. I’m a professional and will conduct myself as such. My only interest is providing my clients with the best information that I can. I’ve told clients to walk away from deals if I didn’t think it was good.
This post was edited on 4/14/25 at 5:03 pm
Posted on 4/14/25 at 5:12 pm to LSUDad
quote:
Find a house inspector, not one from your realtor. Make sure everything is up to code. You might be able to get some money back, on repairs.
No one is going to give you money to make sure “everything” is up to code. I’m sure to investigate things that may be immediately dangerous to my clients and have that stuff taken care of.
I give my clients the option to pick their own inspector, but the guy I work with I’ve gotten nothing but rave reviews and his reports make it very easy to communicate to the sellers exactly what’s wrong (often including pics and videos). He’s been in a property 5 minutes and told my clients to run away from the deal.
Posted on 4/14/25 at 5:18 pm to Luca_Brasi
quote:
Like others have said, never offer asking
I see people keep saying this - this is highly, highly market dependent.
There are some zip codes or neighborhoods where you aren't even going to be considered if you aren't 10 - 20+% over asking.
Posted on 4/14/25 at 5:54 pm to BabyTac
quote:
Strike 1. Never pay full price for anything.
Typical
Posted on 4/14/25 at 7:18 pm to jchamil
Well. It was accepted. Time to get real about this.
Posted on 4/14/25 at 9:14 pm to TJG210
quote:
No one is going to give you money to make sure “everything” is up to code. I’m sure to investigate things that may be immediately dangerous to my clients and have that stuff taken care of.
I’ve built, flipped and inspected homes. I gave a friend a list of items, we did negotiate a number of items. Got back some money. I understand what you are saying about, “everything,” this is true. But certain items should be up to code.
Inspectors are not the end-all, they can and will miss items. But they can find items.
Posted on 4/14/25 at 9:26 pm to piratedude
“John Hopewell,he’s the best”
He was my parents neighbor when he was a kid.knew he was a lawyer in B.R.,I didn’t know what kind of law he practiced.
Whole family are some of the finest people on the planet.
He was my parents neighbor when he was a kid.knew he was a lawyer in B.R.,I didn’t know what kind of law he practiced.
Whole family are some of the finest people on the planet.
Posted on 4/14/25 at 9:33 pm to jlovel7
My advice is to handle the whole thing by yourself. No agent, home inspectors, etc…. Real estate agents are useless people who will create issues where there are none all in the name “looking out for their client”. When in reality they are just trying to justify their existence. Home inspectors are idiots and deal killers. They will point out every little non material thing to show you how smart and thorough they are. All they really do is create problems where there are none. They wouldn’t be agents or home inspectors if they had any brains or talent. The entire industry is set up to create BS jobs and regulated by people who protect those BS jobs.
My advice is to avoid these two kinds of people if you can. Any person with a modicum of intelligence can look at a house and evaluate it. And say you buy it and the water heater goes bad in three months. Oh well, buy a new water heater.
My advice is to avoid these two kinds of people if you can. Any person with a modicum of intelligence can look at a house and evaluate it. And say you buy it and the water heater goes bad in three months. Oh well, buy a new water heater.
Posted on 4/14/25 at 9:59 pm to McLemore
quote:
Obviously depends on market conditions. Last three properties I’ve bought required full-price and quick close or you’d get passed quickly.
This is exactly right. House in our neighborhood just sold for 14% over asking, quick close. There’s no inventory in some areas, so sellers are in the driver’s seat.
This post was edited on 4/14/25 at 10:00 pm
Posted on 4/14/25 at 10:23 pm to notsince98
Have gas lines pressure tested. They don’t normally do this. Can do a pressure test on water too to see if there are leaks.
Posted on 4/14/25 at 10:36 pm to jlovel7
Got a house for 70k less than what it was originally listed for. No point in offering what they’re asking. Worst that will happen is they ask you to come up a little. Especially a house with no offers.
Posted on 4/14/25 at 10:49 pm to LSUDad
quote:
But certain items should be up to code.
Oh for certain, I mainly meant the items that get flagged that are solely “if it were being built today, it wouldn’t be done like this”, but otherwise harmless. The New Orleans area has lots of older homes, so I’ve seen pretty much everything. I’ve also worked with builders/flippers and know they are very cognizant of those types of things.
Posted on 4/14/25 at 11:26 pm to jlovel7
Never pay full asking price for anything. They’re taking you to the cleaners if you really did that.
Posted on 4/14/25 at 11:32 pm to TJG210
No doubt, I worked with a realtor friend for years. She asked me to look at a house. I got there early. She walked in with a pad and pen. I’d give her approximate cost of repairs. We would add everything up, figure cost, then profit. I said, don’t buy it. You know the look women give you when they messed up? I said so you already bought it? She just did break even on it. Might have made a little, but not like before. Too many little things got her.
Posted on 4/14/25 at 11:41 pm to jlovel7
We bought our house from a family friend whose previous house was next door to my in-laws. So we did an end run around the realtor and did a "color by numbers" sale using an attorney to draft the paperwork.
Absolutely get an inspection and be reasonable with what you want fixed. One of the things the inspector flagged was some wood rot at the bottom of our dual patio doors. It's been 16 years and it still doesn't need to be fixed. (OTOH, we did insist on some repairs by the chimney. It was a good tradeoff.) Those inspections give you an idea of every little problem and are a good way to either make sure the major repairs are done or the cost is deducted. When we sold my dad's home the buyers insisted on a new roof. We deducted the cost from the sale price and let them screw around with getting the repairs done.
Pay attention to your loan rates and if this is a home you are going to raise a family in, absolutely pay for a few points. We took out a 30 year fixed at 4.75% and paid it off in only 15 years last spring.
Absolutely get an inspection and be reasonable with what you want fixed. One of the things the inspector flagged was some wood rot at the bottom of our dual patio doors. It's been 16 years and it still doesn't need to be fixed. (OTOH, we did insist on some repairs by the chimney. It was a good tradeoff.) Those inspections give you an idea of every little problem and are a good way to either make sure the major repairs are done or the cost is deducted. When we sold my dad's home the buyers insisted on a new roof. We deducted the cost from the sale price and let them screw around with getting the repairs done.
Pay attention to your loan rates and if this is a home you are going to raise a family in, absolutely pay for a few points. We took out a 30 year fixed at 4.75% and paid it off in only 15 years last spring.
Posted on 4/15/25 at 11:47 am to dlambe5
So the realtor you were referring to in your initial post is the sellers realtor? She’s sending you inspection reports and so on? You have no representation?
Posted on 4/15/25 at 12:48 pm to BabyTac
I build and sell new residential construction. I typically do not negotiate price. Most of my houses sell quickly. You do not sound very experienced. OP should ignore your comments.
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