Asshat Brando
Potato del Grande
- 5,346
- -478
Home buying thread
- Thread starter Pasteton
- Start date
-
Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Crone
Bronze Baronet of the Realm
- 9,714
- 3,211
Got the home inspection report. Sometimes the shit they ask for is wonky, but I'm thankful they didn't pick everything out of report. Inspector was recommending full pool re-surface, cool-deck being redone, etc.
The wonky thing they asked for is, "Seller to inform buyer if pool fencing is functional and demonstrate or explain to buy before COE".
We have some iron pool fence stacked up on the side of the house we intended to use as a.... pool fence. lol. Just never got around to it. Nothing too major though. Some GFCI outlets in the kitchen, which I'm not sure how ever got by our inspector when we bought the house, but oh well. Secure a toilet down. Some pool stuff.
One step closer! woo
The wonky thing they asked for is, "Seller to inform buyer if pool fencing is functional and demonstrate or explain to buy before COE".
We have some iron pool fence stacked up on the side of the house we intended to use as a.... pool fence. lol. Just never got around to it. Nothing too major though. Some GFCI outlets in the kitchen, which I'm not sure how ever got by our inspector when we bought the house, but oh well. Secure a toilet down. Some pool stuff.
One step closer! woo
Crone
Bronze Baronet of the Realm
- 9,714
- 3,211
Inspections are done, and things are fixed. Apparently in Arizona there is some 2 day courtesy, so close is July 30th, but we have to be out July 28th. Not legally, I understand I can tell them to go F themselves, I still own the house, but apparently this is the normal thing in Arizona.
1 week and counting. Signed a lease on a new apartment this weekend, for 3 months, until we move to the Portland OR area in October.
1 week and counting. Signed a lease on a new apartment this weekend, for 3 months, until we move to the Portland OR area in October.
lindz
#DDs
- 1,201
- 63
Just an update on our whole carpet fiasco.
Went to court today and won!
We were unable to serve the sellers both with certified mail and the sheriff's office making 5 attempts. Not sure if the address we were supplied was false or they were just dodging our attempts. Regardless, judge decided in our favor even without the defendants there. Now I'll have to figure out some way to find them to collect, but hey, one hurdle crossed. I may have to wait a month and then have the court system send them to collections.
Went to court today and won!
We were unable to serve the sellers both with certified mail and the sheriff's office making 5 attempts. Not sure if the address we were supplied was false or they were just dodging our attempts. Regardless, judge decided in our favor even without the defendants there. Now I'll have to figure out some way to find them to collect, but hey, one hurdle crossed. I may have to wait a month and then have the court system send them to collections.
Noodleface
A Mod Real Quick
- 38,271
- 15,093
lindz
#DDs
- 1,201
- 63
We already did the carpets on our own and asked for 60% of the cost. We were awarded the full amount we asked for. Didn't feel it was appropriate to ask for the full amount since the carpets had already served half their lifespan, we just had to replace them 8 years earlier than we should have.
Foggy
Ahn'Qiraj Raider
- 6,292
- 4,878
Gratz. In the future, ask for the world and let the judge lower it. You can have a sheriff foreclose on the assets of the defendants. You can also clean out their bank accounts, though I don't know the procedure. (I know, real helpful) I don't know the $$ value but an attorney might help for a %.
jooka
marco esquandolas
- 14,858
- 6,391
So I am looking at buying a home my mother raised me in, it is in foreclosure and my mom is saying she can sell me the rights of foreclosure. It went for auction and the bank got it for a super low price. I can afford the house(worth much more) at the price the bank payed, but the question is can I buy the right of foreclosure from my mother then pay what the bank wants. Calling CAD.
Asshat Brando
Potato del Grande
- 5,346
- -478
Your mother can just straight up sell you the house, you're not a lien holder so she can't sell you the right to foreclose nor can she substitute you to deal with the bank. If you don't want to pay what it would take to take care of her outstanding lien then you need to buy the house from the bank when they eventually list it for sale like anybody else.
Edit: You should have bought it at the auction, the bank is legally required to take any bid exceeding their lien. Though then again the question comes back to what the lien is vs. the value.
Edit: You should have bought it at the auction, the bank is legally required to take any bid exceeding their lien. Though then again the question comes back to what the lien is vs. the value.
jooka
marco esquandolas
- 14,858
- 6,391
There was no way I was going to be able to buy the house at auction, or so I thought. The property/house is worth more like 700k but thats about what she owed. Not something I was prepared to put up, but at 338k which the bank bought it at she gets rights of foreclosure or something like that. I need to know if it is legal for her to sell me that right and out right buy it for that price.
EDIT I should add the house is not finished nor is the guest house, which would explain the no bidders above the banks bid. Still lots of work to be done to hit that 700k. If it was finished tho, it would hit the market at 900k+
EDIT I should add the house is not finished nor is the guest house, which would explain the no bidders above the banks bid. Still lots of work to be done to hit that 700k. If it was finished tho, it would hit the market at 900k+
Cad
scientia potentia est
- 25,426
- 49,042
Its not the right of foreclosure, its the right of redemption. In some states you can pay the loan amount for a certain period of time after the foreclosure, and get the house back from the bank. I don't know what state you're in but you can look it up based on <your state> right of redemption after foreclosure.
If your state has a statutory right of redemption then this might be doable. Otherwise you just need to buy it from the bank. If you come to them and offer a modest amount above the foreclosure sale amount where they can turn it around right quick for a small profit, they'd probably go for it.
Asshat Brando
Potato del Grande
- 5,346
- -478
Right, so the bank has no legal requirement to sell you the house unless you bid over the $700k mark that your mother owed. The bank then gets to take back the property but here's where it gets tricky, it will be assigned to an asset manager who upon inspecting the property will quickly realize the property is not financable as is because it's not livable. They will then tell the assign realtor to only accept all cash offers, are you able to pay all cash for the property?
And the bank didn't buy it at $338k if that was the highest bid, they have a legal requirement to do their utmost to retain value/equity in the property for the homeowner when the property is at a foreclosure auction. If they were somehow amazingly enough able to sell the house for $900k your mother would get the proceeds of the sale minus the banks costs of repairing and selling it. Now that the foreclosure is final they can accept whatever bid they want but at auction they could not accept a bid lower than what was owed.
Springbok
Karen
- 9,386
- 13,903
Any realtors here want to shed some light on something for me?
I'm currently in the market for a bigger house, and have zero desire to deal with a realtor again (the last one several years ago was a complete idiot, truly) - is it considered "bad form" or whatever to contact the listing agent directly off of MLS postings and just work direct with the source? In other words - find 5-6 houses we like, and go directly to those agents? I don't know why, but I've always been under the impression that we needed a realtor to make those connections ...
I'm currently in the market for a bigger house, and have zero desire to deal with a realtor again (the last one several years ago was a complete idiot, truly) - is it considered "bad form" or whatever to contact the listing agent directly off of MLS postings and just work direct with the source? In other words - find 5-6 houses we like, and go directly to those agents? I don't know why, but I've always been under the impression that we needed a realtor to make those connections ...
Eomer
Trakanon Raider
- 5,472
- 272
It's not bad form to contact them directly, so long as you haven't previously been using a buyer's agent. If you negotiate directly with them and the commission is half of what it would be with 2 agents, they're walking away with the same amount of cash in their pocket.
Then again, most agents are fucking scum bags, so who knows. I hired an agent to sell three condos that my company ended up with after a project went sideways on us, and so far we've managed to sell two of the three with the agent. He's actually been not bad. But both that have been sold, have been sold for MORE than what he originally recommended as our maximum asking price, to no one's surprise. I'm friends with his boss, the guy who manages the agency, and when I told him that he laughed and rolled his eyes, because we both know the game that his industry plays (sell as many listings as you can, who gives a fuck what they sell for). The chapter in Freakonomics on real estate agents is pretty enlightening.
Then again, most agents are fucking scum bags, so who knows. I hired an agent to sell three condos that my company ended up with after a project went sideways on us, and so far we've managed to sell two of the three with the agent. He's actually been not bad. But both that have been sold, have been sold for MORE than what he originally recommended as our maximum asking price, to no one's surprise. I'm friends with his boss, the guy who manages the agency, and when I told him that he laughed and rolled his eyes, because we both know the game that his industry plays (sell as many listings as you can, who gives a fuck what they sell for). The chapter in Freakonomics on real estate agents is pretty enlightening.
