Selling a house

[Lathum]

Originally Posted by digamma

Wow! I honestly thought you meant it was somehow a bathroom attached to the house that you entered from the outside. But no, just a toilet outside. That's crazy. Glad you're getting it solved.

nope.

Just the toilet.

The fence is on one side, the house on the back side, the AC unit on the other, then no door or anything.

We are speculating they did it so their kids wouldn't come inside wet from the pool to use the bathroom, but still, so strange.

[JPhillips]

The toilet paper is what makes it clear it was operative.

[Flasch186]

that's elongated too, an upgrade.

[Lathum]

Originally Posted by Flasch186

that's elongated too, an upgrade.

Huh?

[stevew]

I thought my random basement toilet was bad but that's crazy

[thesloppy]

Whatever the result, don't let them off without telling you WHY they built that toilet there. Maybe one of the folks who lives in the house generate such foul stenches that others demanded they go shit outside.

[MrBug708]

Originally Posted by Lathum

Huh?

The bowl shape.

[MrBug708]

Im assuming you were waiting on the home inspection before making repair recommendations?

[Flasch186]

Originally Posted by Flasch186

that's elongated too, an upgrade.

Builders used to consider an elongated toilet versus a standard round bowl, an upgrade

[Lathum]

Originally Posted by MrBug708

Im assuming you were waiting on the home inspection before making repair recommendations?

yes

[ISiddiqui]

Originally Posted by Lathum

We are speculating they did it so their kids wouldn't come inside wet from the pool to use the bathroom, but still, so strange.

That's probably it. Totally surreal though. If they dug a pit, that's even more nuts.

[CU Tiger]

Dumb yankees...


Down south we just plant a few bushes...

[thesloppy]

I just dump straight into the pool filter intake.

[Lathum]

Just skimmed through this, man what an insane time.

Fast forward to today and we at taking advantage of the situation to refinance. Going from a 4.35% interest rate to 2.99%. Going to save a ton of money.

Mortage guy called last night. Said we are going to owe $4900 up front for second quarter taxes and our yearly insurance premium is due. We have this money in escrow with our current lender, so it will be a wash once we get the escrow money returned from them. Confirmed that the insurance is due. When I looked at the Q2 taxes it appears our lender sent them on 4/10, so that money is out of escrow, yet it hasn't been updated on the towns website, where the title company is getting the info from. I'm not sure how this will go and I am certainly not paying the taxes twice. We are supposed to close today. I also hope they can do a wire transfer, because not sure how I can get a cashiers check these days.

[tarcone]

We are going from over 4 to 2.5. We refied a couple years ago. Did a 30. The mortgage will be the same on a 15. guess what we are doing? shaving 13 years off our mortgage.

Good stuff

[miked]

Thread necromancy. Does one have to offer up a list of repairs after inspection or can you just walk away with losing all earnest money. We had an offer on a house accepted and went for the inspection today. Turns out there was some wear and tear and a few more issues beyond that showing some neglect (it is a home in the mountains and some of the logs need repair--not replacement and a lot of the decking and some other things need replacement). We figure it is likely at least $10k to fix all these things, but it is an investment/vacation house and we did not really want to do a ton of work right off the bat. Plus, I'm concerned that the log repair, while the inspector said it can likely be repaired without replacing the entire log, could be worse based on the level of rot all around the deck and such.

Basically, we don't really want to do the work, we don't trust them to do it properly based on what we have seen, and we don't want the price lowered because then we will have to shell out cash. So can we just walk away without making demands?

[PilotMan]

I am pretty sure that you can just walk away without your earnest money. I mean, if they ask you just point to the inspection and say that the situation has changed and you're not interested in proceeding with the purchase. I would imagine that it happens all the time.

[JPhillips]

I think it all depends on the language of the contract and where you are in the process. If the sale is contingent on passing an inspection, you probably have a pretty easy out. If, though, you signed an agreement without mention of an inspection it may be more difficult and cost you more.

[miked]

We totally signed contingent upon inspection and financing so I hope we are good there. I would hope the earnest money is returned since there is a lot more work to do than initially thought and the place has more signs of neglect, but I guess we'll see.

[Flasch186]

Originally Posted by JPhillips

I think it all depends on the language of the contract and where you are in the process. If the sale is contingent on passing an inspection, you probably have a pretty easy out. If, though, you signed an agreement without mention of an inspection it may be more difficult and cost you more.

This.

It depends on the contract. There are multiple used contracts in Florida and it definitely depends.

[miked]

The realtor is working hard to get us some cash back at closing and a small reduction on sales price. Apparently there is nothing major enough to just walk away right now, but we can ask for a hefty amount of cash back to try and offset the work being done.

[JPhillips]

Good luck.

[CU Tiger]

Originally Posted by miked

The realtor is working hard to get us some cash back at closing and a small reduction on sales price. Apparently there is nothing major enough to just walk away right now, but we can ask for a hefty amount of cash back to try and offset the work being done.

I may be mis-reading your post.
But Remember the realtor doesnt get to decide if its "major enough", you do.
I hate buying a deal needing repairs based off an inspector because then you assume all the risk.
(Aside - unless that's my plan. Ill buy equity on investments in a heartbeat and know I can do the repairs)
You assume the risk of the inspector catching all the damage, you assume the risk of the contractor you hire doing a good job, and on and on and on.

It sounds like you may have fallen out of love based on the inspection, if so...instead of a reduction and cash back I'd push to counter this way.
'We still want to buy and at the agreed upon price. However we want all of these issues resolved professionally and to our approval prior to close. This places all of the onus to perform on the seller. If they fail, you walk. Then be involved in the repair inspection process...

[JPhillips]

I've had an inspection on each of the three homes I've bought in my lifetime. In each case, after the inspection we've gone back with, you need to do x, y, and z, and in each case the seller has come back with, we'll do x and y, but not z. At that point we had to decide to go with the deal or leave.

[Izulde]

Funny enough, I'm probably walking away after home inspection. I see a lot of issues popping up as a result of it (and the backyard is horribly designed and a poor fit for my dog).

On the flip side, got a supposed full offer on my house I'm selling, but they want me to contribute $5,000 in closing costs and pay $525 for a home protection plan and I'm thinking um, no. I don't have that kind of extra cash. And it's an FHA loan which IIRC is a headache to get approved.

[Flasch186]

FHA loans are not hard to get approved if your home is in good condition (old HVACs pop up problematically).

[spleen1015]

We have our inspection on Monday. Wife is nervous.

I've been on both sides of this. Bought a house in 2002. There weren't many problems with it then. Sold that house in 2018 and there were a few issues on the inspection. We fixed the ones that were deemed fire harzards. Cost us another $300 or so.

I remember the feeling when we received the items that he wanted fixed and we were like WTF? Some of the stuff just seemed silly. I won't do that to the seller of the house I am trying to buy. Fix the major shit and I'll be happy.

[Izulde]

Close is set for Vegas selling Tuesday, here buying Wednesday.

Fun has already started. Did final walkthrough today and I noticed there was stuff that's in my property line according to the maps I saw (neighbor's shed is just over the property line there).

Neighbor says no the property line is where this metal thing is sticking out, and you have to be a foot away from it. So we debate it, they throw up their hands and stomp off.

The foot away smells like bullshit, so I'm probably just going to have the property surveyed. If I'm right, they need to move their shit out of the way and the shit that's by my garage.

[JPhillips]

I strongly encourage a survey. It's going to be easier to deal with this at the beginning that a few years down the line.