Buyers who don't go away after closing
mpagmom (SW Ohio)
10 years ago
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mpagmom (SW Ohio)
10 years agokirkhall
10 years agoRelated Discussions
4 goings going to college...& we don't want to work past 60 HELP!
Comments (16)I just read this post and wanted to respond. I was interested in the responses that you recieved V. Some were helpful. I have a few thoughts on this subject as well. I found it amazing that someone would have the guts to post that if you can't feed them don't breed them. As if by asking the question about how to prepare for the future, you are not doing your duty. It sounds like you are doing a great job feeding them, if you will, and are now looking toward the future. Good for you. I also found it interesting that the debate came down to a pick one scenario for everyone who did respond. You are crazy to pay for their college and not take care of yourself or you are selfish to take care of your retirement and not help your kids. I put forth that you have set two goals and want to know how to make both of those goals work. Without knowing more about your financial situation, no one can tell you how to do this or if it's possible. What I will tell you is about myself. I am a stay at home mother of three. My husband is ten years older than I am. He wants to retire in his early 60's (62 at the latest). Our children will just be going to college at about the time he wants to retire. I want to pay for college for my children. These are both valid goals. We gathered all of our information together and went and paid 400$ to a financial planner. It was the BEST thing we ever did. We are not rich. But we thought it was well worth the money to have someone help us look at our overall financial well being and help us draw some basic predictions (conservative predicitons) towards the future. He looked at our insurance and our finances. We found out we probably needed more disability insurance, if something were to happen to my husband, there is no way we could have held on to the house and made things work, even if I went back to work. We found out that we were doing fine with retirement and needed to think about college funds. I have the peace of mind now, knowing that if my husband were to die or get injured we could keep the house, maintain our style of living and be OK. And I won't have to go to work. That is important to us. We can retire in our 60s but it will most likely be age 65 (instead of 62) and pay most of our kids college expensis. I would strongly suggest that you think about going to a financial planner. Pick one wisely but know that they are worth the money in my book. Some things to think about- you can save for the local state university and your child will end up in Harvard. Then what? For us, we decided to save as much as we could towards helping our children get a basic four year degree. If we have enough to pay for their college, great. If they go to Harvard, Yale etc- high expensis, they will have to work and get student loans and scholarships. Or you will save for college and they won't go to college. Then what? This is one reason we have not put anything in their name that will equal a large chunk of money that will be theirs at age 18. Although they are adults at age 18, we know that they are still young and still lack the in depth decision makign skills they might need. We would hate to see our money spent on a nice car at the expense of college. The choice will be theirs at that time. What college to go to? How to help pay for it- live at home, work, not go? They will be well on their way to adult hood and able to make decisions that impact their future. Even now, our children are encouraged to save for college. (ages 4,2,5 months). We take any gift money sent to them and put it in the bank in their name. We give them a small allowance and help them split it up to tithing, spending, savings (my 2 and 5 months old don't get it yet, but they will). We are setting a policy now that any money they get in gifts at least 1/2 will go to the bank. This will be their money towards college and other expensis they may have as they grow and leave home. (Down payment on a home? Down payment on an appt? Down payment on a car? college?) The other thing we did- we took all of our money (except for a little bit) and put it in our accounts. We have not seperated out college vs retirement vs a big wedding. We figure it is all ours and if something comes up that we have to spend it, we want to be able to do so with out feeling like we are spending our childrens' money. WE earned it and we want to use it the best way we need to at any given time. You just never know what will come up (accident, job loss, etc.)... So it's in one big pot with our name on it (except for a very little bit). Closer to college time we will sit down and figure out where we stand- how much we have total, how much we can help each child out with college, how much we need for retirement etc. Then we will help our children. It is my belief that we had these children and along the lines of if you can't feed them don't breed them- we want to help them along in their adult hood the best we can. It seems a shame to force them to take on student loans when we will hopefully be in a position to help them if not pay for their college totally. I have some personal reasons for wanting to help my children through college based on my history. But there you have it. On the flip side though, we do not want to hurt our retirement or not retire to help our children. As someone posted earlier- $30,000 at age 30 is easier to pay off in the long run than the same debt at age 60 on a fixed income. I maintain that there is probably a fine line between these two goals that you can walk. I would put forth that with some research and budgeting, most families can be in the position we are now in. It's not ideal- we scrimp a bit and we don't do everything (many) of the things I'd like to do (like move to a huge house, go on more vacations, fly etc). But I feel good about where we stand. We know we can take care of ourselves and our children now and for many years to come. We know we can retire and help our kids through college. A 529 is a great option. We have one for each child. There are other options- roth iras, coverdale ira, schwab accounts, drips, etc. You get the idea. This is one reason we went to a financial planner. He helped us untangle the information and then backed off and let us make the decisions that we felt were best. Good Luck. Ginger...See MoreDon't buy Anderson, Stay away from Pella, forget Marvin!
Comments (16)I am a commercial contractor in Florida. My last home had Pella Architect series throughout. 10 years and 8 months in the home, and we discovered the bottom rails in approximately 75% of the windows had rotted. Our house had casement and French doors throughout. We had two French Doors that the bottom of each had rotted. The only way we found out that our windows and doors had failed was the magnets for our alarm system fell out. The alarm monitor said “zone faulted” When I called the Pella representative in Orlando, I was told that had we called a year earlier, they would have warranted the windows. The frustrating thing was since we live in Florida, it's typically to hot to open the windows so we would never have known if not for our security system. After some investigation into the windows, it became known that Pella knew this issue was a problem for quite a few years. According to one of their installers, they had been testing windows for 6-8 years in south Florida because of the numerous failures. Soon I will be purchasing approximately $150,000.00 worth of windows. I am leaning toward PGT casement windows. I think vinyl and aluminum both have their advantages....See MoreAfter Closing - Dealing With Buyers
Comments (18)In some states, transactions close in Title Company offices. An attorney prepares the Deed, but that's it, and would not be involved in this transaction (though I think attorneys should handle property transactions). As a buyer, you fulfilled your obligation when you purchased the initial warranty, which you likely did from the company recommended by your agent. This issue should be referred to your agent. The Buyer cannot now come back to you and ask for another warranty months after the fact due to factors beyond your control. You attempted to assist once, purchasing another basic warranty. Was your first warranty a basic one too, or did it cover the furnace? Interested to know. At any rate, things have changed. Appliances and major systems have sustained more wear. It is already not working, so any new policy would not cover a pre-existing condition, as explained by others above. They are simply going to have to repair their furnace. It's unfortunate, but I doubt you bought a full coverage warranty the first time either....See MoreBuyer wants me to repair after closing & recorded - should I?
Comments (31)This was in the contract. The contract is for the property in its present condition with all agreed upon repairs, and even the OP believed that the damage was caused after the purchase agreement was signed. So it certainly was part of the contract as it didn't leak when the offer was made. Some states have limits on when you can hold up a closing and when you can't. So it is possible that the OP wasn't obligated to agree to the repair at all... However, the OP didn't argue the obligation, he agreed to repair and that agreement is itself a contract. An offer and acceptance for an exchange of consideration creating a mutual obligation. Let's look at that... Was there an offer to fix the leak? Yes. Was that offer accepted? Yes. Was there an exchange of consideration? Yes (the seller was relieved from any delay in closing and the buyer got a non-leaking sink). Was there mutual obligation? Yes. (the seller was obligated to fix the sink and the buyer was obligated to purchase the house on time). Did each party have capacity? Probably. Because of the statute of frauds the contract must be in writing and effectively signed by the party who enforcement is sought against or demonstrate action by the parties sufficient to overcome the statute of frauds. There are several states that have rules about repair agreements post sale, other states have nothing. I would need to know the OP's state to offer more specific information, but I can tell you certainly that my state says specifically, "Seller agrees to deliver the property to purchaser at settlement in its present physical condition, ordinary wear and tear excepted, but with such repairs and improvements as the parties otherwise agree." -------- So if it is your assertion that he could have said no as that was not in the original contract, I would agree that he could say no and they could fight over the original contract. But once the OP said yes, it did create an obligation. The enforceability of which will depend on state laws. ---------- We don't even know that the leak is one that the OP said he repaired. Can we just agree that we are talking about the same leak? I believe the OP is smart enough to handle this situation on his own if it turns out to be a different leak....See Morempagmom (SW Ohio)
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