Sellers market, selling house in Portland. Need to repipe. Help!
Dustin Knudsen
8 years ago
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8 years agoDLM2000-GW
8 years agoRelated Discussions
Seller's 'pre-marketing' inspection: worth it?
Comments (10)I don't know what your neighborhood is like in terms of how quickly buyers jump to put in their offers, but I'll tell you our experience. We're in the Philadelphia suburbs about 15 minutes from the city on a popular, desirable street in a good township with great schools. Even in the slowing market houses on our street sell quickly. We just sold in 10 days. Before we went on the market we were thinking of having our own inspection done just to pre-emptively fix anything that might come up in a buyer's home inspection. What our realtor told us was this: Don't have the inspection. Right now you don't know if anything is wrong, and you don't want to know, because then if you can't/don't want to fix whatever it is, you'll have to disclose it, which will scare more potential buyers off than anything else. Wait for them to love the house and offer and have their own inspection, and then we'll deal with any issues as they come up. What we did do on her advice was purchase a 1-year home warranty for the buyers...we also advertised this in the listing. This way buyers know that should anything break (furnace, water heater, appliances, etc.) they are covered by the warranty. I know I've heard that when push comes to shove some warranties aren't worth the paper they're printed on, but the fact that one exists can be very reassuring for buyers. As a result of us paying for a home warranty, our buyer waived all inspections! SO I'm glad we took our realtor's advice on not having our own inspection done....See MoreHouse on the Market? Sellers Beware.....
Comments (13)I can see that its a porn channel and they are right at the peak of their performance. OMG!! When you said "they", I thought you meant the people living in the house, not the porn movie!!! LOL Anyway, at the same time, I see the man of the house, on the sofa in his underwear with a beer in one hand, and ahem, something else in the other. ..... Beer still in hand, and at full attention. Linda - you have the funnniest stories! I am trying to get out of my mind what you mean exactly by "full attention!!! LOL...See MoreSellers market -- wait it out or what?
Comments (39)The time it takes really really depends on the current market and even more that that-ones's circumstances and needs Fist place, we bought in a day. We won a lottery for partially subsidized housing, it was our chance to buy anything at all. It existed just in blueprints. We borrowed several K from my brother and signed the contract that very day we were notified we won. Second, we bought in a week. actually it was the first house I saw..I did look at some more to make sure. It was the whole different level..and yes it was a great house. Third, we also bought in a week, or maybe ten days-that was already here in OC. We were in a hurry..and it was a buyers' market. Saw it, felt it, bought it. We did look at many during that week though..each day several houses. Also easy to set up an appointment in such a market..last time we were looking, the house you like might be gone by the time you call Fourth, now-house, we were looking for months. First, sellers market..suddenly many investors with cash and all..Second, our circumstances changed, a lot. We were considering very few homes since we needed walking distance-95% of the market doesn't work here in OC (unless you can live in Laguna Beach and the likes but alas we can't afford it))). We had accommodate for very different needs of growing family. It was tough. It was several months..we looked at lots of homes..I was close to becoming desperate..since I was used to finding good homes in a week, right? And when we bought we had to remodel too. Walking distance plus some privacy=older home. People who look for cheaper, starter places here are constantly outbid-not enough inventory. So they can bid for months, and still not able to buy.. Sometimes people are very picky though. One acquaintance of mine was looking for three years. Very well off, and not into changing things. Wanted everything just so. And wasn't in any rush....See MoreLowered price in Seller's Market
Comments (12)Be careful. You should not be making an offer on a house if you don't understand the process. You are doubly pressed for time: you say you need to buy a house soon and you are in a competitive market where decisions need to be made very quickly. My initial thought is you need to pass on this house; you aren't ready to buy and could be driven by emotion and a sense of urgency not logic and discipline. If you proceed make sure your offer has standard inspection and financing contingencies. Make sure you do not waive any contingencies especially if you end up in a multiple offer situation. The listing realtor should be asked why it fell out of escrow. No realtor would expose themselves to potential liability by misrepresenting a major known inspection finding but don't rely just on their word. Examples of problems so large that the seller wouldn't fix them could include foundation, sewer, plumbing, electrical, mold. If there is a defect assume the cost to repair is well over $5K until proven otherwise. Another sign to be cautious: if the yard is not landscaped its possible the house itself wasn't well cared for and there could be multiple problems. It's quite possible the previous owners did cosmetic upgrades to cover up major problems. You might have to rip out the cosmetic upgrades to get to the underlying problems....See Morekudzu9
8 years agobob_cville
8 years agoncrealestateguy
8 years agojay06
8 years agokudzu9
8 years agoDustin Knudsen
8 years agokudzu9
8 years ago
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