Our existing home
Beth
7 years ago
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Adding MIL suite to our existing house
Comments (5)Britta, You're welcome, Since my father died in an accident at 50, I have thought about what would happen if it was my husband that suddenly died, what would happen to the kids and I. I find the subjects about retirement, money, medical, and other things we are faced with at our age, very interesting and love to discuss it to learn more. I read every article I come across about these subjects. I don't know the proper terminology for ownership of property, but I understand the "right of surviorship". Everything we own is like that, that is wonderful considering we are in a yours and mine (kids) situation. Your mom is lucky to have someone in her life that cares about her. My husband is lucky to have me, especially to have a wife 10 years younger than he is. I will care for him as long as I am able. When my time comes, I won't be so lucky, but I will handle it like I handle everything. Good luck with your mom....See MoreNew Construction Purchase ?'s
Comments (14)I have of lot of experience with this (I am not an attorney, builder or agent) - my recommendations on purchasing a spec home would be these: 1. Talk to neighbors or others who have moved in to get their first hand experiences with this builder. 2. You can negotiate, but be careful as the builder may be looking to shortchange in other areas to make it up (unless the house is truly overpriced for the market which is possible). Negoating for options to be included in the house vs a straight price reduction might work better. 3. Will you have selections to choose from? If you will, make sure the builder gives you those lists of choices up front so you know what you are getting before you sign the contract. 4. Get a copy of the floorplan and/or blueprint. You will need it for planning. Don't sign a contract without it. 5. Do not give a deposit check made out directly to a builder unless they will personally guarantee your deposit money (this is as compared to them putting it into an attorney escrow account which is fine). If you make it out directly to their company, and something goes wrong you might be out of luck on your deposit(depending on the laws in your state). 6. I can't speak to the agent except to say that ours was of no help at all, despite having built 2 homes himself. When there were problems with the build, he left us high and dry and did virtually nothing to assist us. Commission on this house was 4 percent. 7. If the builder tends to run late in completing the homes, watch out with your lock in - consider locking in later. If you can, negotiate with the mortgage broker at least one free time extension for 3 months if the builder runs late. 8. Specify as much as you can in the contract (or you may not get it). I was just in a 1.3 million dollar home that had flat vs 6 panel doors throughout the house because the homeowner did not specify it in the contract (yes this was a spec home and the other homes in the development did have them). Hope this helps - good luck!...See MoreHas anyone purchased a home through a relo company?
Comments (8)This RELO was the most bizarre home purchase my DH and I have ever been through. First, a few of you were absolutely right. If the coordinator is on vacation, nothing happens. And guess what, the coordinator was on vacation. Second, the sellers were on vacation, but no-one bothered to tell us. Third, the listing agent may not have understood what the RELO process was. On late Friday afternoon, I ended up calling the RELO company directly just to ask what their process was, so I could understand what I could expect. Whomever I was transferred to was absolutely wonderful and also informed me, when she looked at the property file, that we did not have an offer in on the property. Maybe I misunderstood what she was saying to me, as my heart was in my throat, and I can't recall anything else she said. I immediately called my realtor. She reached out to the listing agent's company RELO liaison on Saturday to ask for information on my offer. Since it was Saturday, she would have to wait until Monday to find out where we were with our offer. On Monday, we did receive confirmation they had my offer, but the seller had been out of the country. Then on Monday, the listing agent told my realtor that I would need to have my current property sold, before they would consider my offer. So I was trying to find financing that would permit us to carry both mortgages. One company I was in touch with flat out said that just wasn't going to happen. Too high DTI, regardless of how many assets we had (which is a reduced risk)L So, at 12:33 pm on Wednesday of this week, after letting my realtor know the financing would not happen, I resigned to let go of that dream home. I couldn't get the financing to carry both mortgages even though it would be only be for a couple days. I felt bad for the buyers of my current home, for the sellers of my dream home, and for my realtor, for all the hard work she did. And amazingly, just when I lost all hope, 10 minutes later my realtor forwarded me an e-mail. The RELO liaison contacted my realtor directly. It was the most heart stopping 10 minutes of my life, as I waited for my realtor to call me…and when she did…my phone didn’t ring, she went straight to voice mail. ARGH!!!! So, when I listened to the first few words of her message, and heard her giggle, I knew we had the house. I called her immediately. It turns out the RELO company did want to accept our offer, but they wanted a copy of the contract the buyers signed for our existing property, a copy of their pre-approval letter, and for my husband and I to sign off on the RELOs inspection report. The RELO liaison realized the listing agent wasn't understanding what was needed, so reached out directly to my realtor. It is Thursday night, and we finally have a signed contract. It has been a nerve-racking couple of weeks with this rollercoaster of a home purchase experience. So all in all, if we had a better understanding of what the process was, had known the coordinator and seller decided to vacation during the same week, and there would have been better communications, this would have been a less stressful process. So I appreciate everyone's comments about length of transaction, the need for relocating sellers to sign the contract, the comps, and the patience really helped. The most amazing thing is the inspection the RELO company did. They were very thorough, and the seller has resolved, and will resolve the issues prior to closing. I hope someone else trying to purchase a home through a RELO reads this and has a better understanding of why these are longer purchases. This will be well worth the wait! Thank you everyone!...See MoreRaising the roofline to add transom windows above existing windows
Comments (4)I believe that if a wall is more than 10 feet high it must be framed with 2x6 studs instead of 2x4 studs, so that would require rebuilding the supporting wall(s). As far as how difficult it is to raise and rebuild the roof itself, its really hard to provide any opinion without seeing a picture of the current setup. Bruce...See MoreBeth
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