Joined Jul 2008
You can call me "Al"
Forum Thread
Buying a home, no agent involved. Advice needed.
June 29, 2015 at
09:48 PM
in
Chat
OT is fine ... so long as it makes me laugh.
Okay, so the seller called about the house we want and she made an offer. It's slightly more than we were willing to offer, but not grotesque. She said she will split the cost of whatever the title company charges to research the title and will also split the attorney's fees. She absolutely, positively refuses to use an agent. She said if we hire one, we have to pay 100% of her commission.
I told her we needed to talk it over, get some estimates from the title company and see what hiring an attorney will cost. I realize we have to pay for an appraisal and the inspection. Actually, at this point, do we even need an appraisal?
We had an appraisal done by a licensed realtor when we were there a few weeks ago. The owner wasn't happy with what the realtor said so she's decided to go with an appraisal she got last July because it's higher.
Have any of you ever bought a home without using an agent?
Can a real estate attorney handle everything?
Are RE attorneys cheaper than RE agents?
At what point in the purchase do you hire the attorney?
Even if we pay her asking price, she's taking a HUGE loss. MASSIVE! I realize that's not our problem but we do want to be kind. We know our original offer is above the appraisal we got but we want the house ... she needs to sell the house ... and we're not assholes.
Any advice to offer?
Okay, so the seller called about the house we want and she made an offer. It's slightly more than we were willing to offer, but not grotesque. She said she will split the cost of whatever the title company charges to research the title and will also split the attorney's fees. She absolutely, positively refuses to use an agent. She said if we hire one, we have to pay 100% of her commission.
I told her we needed to talk it over, get some estimates from the title company and see what hiring an attorney will cost. I realize we have to pay for an appraisal and the inspection. Actually, at this point, do we even need an appraisal?
We had an appraisal done by a licensed realtor when we were there a few weeks ago. The owner wasn't happy with what the realtor said so she's decided to go with an appraisal she got last July because it's higher.Have any of you ever bought a home without using an agent?
Can a real estate attorney handle everything?
Are RE attorneys cheaper than RE agents?
At what point in the purchase do you hire the attorney?
Even if we pay her asking price, she's taking a HUGE loss. MASSIVE! I realize that's not our problem but we do want to be kind. We know our original offer is above the appraisal we got but we want the house ... she needs to sell the house ... and we're not assholes.
Any advice to offer?
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But I think you're giving this guy more credit than he deserves. This is the same guy who 'installed' a ceiling fan in the family room by using a too short piece of metal, a round hook and an awl, all jammed inside the ceiling to hold up a ceiling fan. No brace, no outlet box.
What a bunch of crooks people in the real estate industry are.
Edit: And recently DH found a wire hanging in the garage with the bare wire exposed, it was stuffed into a hole in a rafter in the garage. The wire was 240v and hot.
We agreed to a price a few days ago.
Today she EMAILED me
Done. Sooooo done.
This sounds like a tax related move to me. She wants/needs to claim the loss on the 2016 tax year. This probably means she's taking losses elsewhere this year and won't benefit much by selling the house at a loss in 2015. Or has had another renter lined up for enough time for it to be profitable for her to hang onto the house until 2016. Either way it sucks.
We found out last night that she can no longer rent the house. The county commissioners have issued a "Cease & Desist" letter to anyone renting their homes for less than 6 months in residential areas. We knew they had issued some in another (lakeside) neighborhood but were not aware until last night that it applies to all homes in that county. They are being sued for it but until it goes before a judge, all property owners have been told they can no longer rent short-term. But since she lives out of state, we don't know if she knows that or not.
redjen, yes, she is already taking a loss this year on another property she sold this summer. I wish I knew more about taxes and loss and how much/how often you can claim it. We've taken a loss in the past but it wasn't on property, it was on investments. Same rules? Different rules? I don't know.
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We found out last night that she can no longer rent the house. The county commissioners have issued a "Cease & Desist" letter to anyone renting their homes for less than 6 months in residential areas. We knew they had issued some in another (lakeside) neighborhood but were not aware until last night that it applies to all homes in that county. They are being sued for it but until it goes before a judge, all property owners have been told they can no longer rent short-term. But since she lives out of state, we don't know if she knows that or not.
redjen, yes, she is already taking a loss this year on another property she sold this summer. I wish I knew more about taxes and loss and how much/how often you can claim it. We've taken a loss in the past but it wasn't on property, it was on investments. Same rules? Different rules? I don't know.
You guys always make me laugh.
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Well the house is on the ocean so......