Seller refuses to lower price or make any repairs
HomieCat2012
11 years ago
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EngineerChic
11 years agobarbcollins
11 years agoRelated Discussions
Sellers - Keep Your Power & $, Refuse to Sell for Lower Price !
Comments (54)That speaks to the importance of equity, doesn't it? When you go to sell, equity is everything. People really go out on a limb when they take on a home where their expenses to maintain it max them out. And, if the market isn't appreciating, then the only equity they are building is what they are putting toward their principle. We all know that after a year of making large payments, you might own the doorknobs. Equity is the only portion of your home investment you have some liquidity with. How many of you who have purchased homes in the last ten years took out a conventional loan and put at least five percent down on your homes? How many have built up equity and then used it up with a Heloc, or refinanced because you bit off more than you could chew comfortably? I find it really scary to see the constant ads and billboards urging people to use the equity in their homes for debt consolidation. I also get uncomfortable when I see some of those shows on home improvement channels where an expert comes in to appraise a home's worth so that the owners can feel free to use up that cushion to spend more money on their homes and feel "safe" doing it. If and when they do use it up, their homes revert a more expensive home needing to bring more on the market to just meet the debt. I am nearing retirement. I have gambled on real estate for a long time now in a modest manner, but the whole goal in the game has always been to increase the equity I have in my property(ies). It has allowed me to work at a job I like, when so many of my friends who are as old or older than I "can't afford to quit" a job they dislike because they keep spending their equity like it were somebody else's money....See MoreSeller refusing to make some pretty important fixes
Comments (75)Right now he doesn't have a home to move to, that is why I thought he was using him to sell his house. My concern is the small market the OP wants to buy in. Reading all these posts makes me think I am an easy buyer, if I knew my small market had very limited inventory, I would work to buy the house irregardless of the non-fixes, they wouldn't be important to me, I'd fix them myself after purchase. Most important to me is location, I don't mind fixing to my taste. I understand other people don't want to do that, of course that is their right. I also son't mind dual agency, I've done that several times with no problem....See MoreWhat repairs does seller have to make ?
Comments (27)the type of fuses the house has are really old and very hard to find now a days . And some are not up to code. Did the inspector just mean that in general fuses are harder to find nowadays? Or is it these specific fuses? I was unaware that there were different 'brands' of fuses. And when he said 'not up to code' did he mean the current code? A house that is five years old isn't up to current code. It isn't necessarily anything to worry about. Be aware that an inspector isn't an electrician. They often screw up and misinform about the electrical system unless it's a glaringly obvious problem. That said, upgrading to a breaker box is probably a good idea. But as saltidawg said, it's a desire not a necessity. By all means ask the seller to do it or try to negotiate a lower price, but they may not agree to it. If you want a real assessment of the electrical system and whether it's dangerous, then get an electrician to look at it....See MoreSeller’s roofer vs buyer’s roofer
Comments (5)An 18 year old roof - is about ready to be replaced - doesn't matter what the shingle guarantee states. However - I don't think they are entitled to a completely new roof. I go along with what Joe says....See Morepolie
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