Author Topic: Housing.  (Read 45839 times)

Rural

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Re: Housing.
« Reply #50 on: June 21, 2013, 09:49:35 AM »
Don't sign a contract the sellers or their attorney have written without getting an attorney of your own to go over it!

You also need a title search to be sure there are no outstanding liens on the property you don't know about.

Zoe

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Re: Housing.
« Reply #51 on: June 21, 2013, 09:54:43 AM »
Don't sign a contract the sellers or their attorney have written without getting an attorney of your own to go over it!

You also need a title search to be sure there are no outstanding liens on the property you don't know about.

Thank you! Do I just call up a real estate attorney?

Rural

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Re: Housing.
« Reply #52 on: June 21, 2013, 10:06:36 AM »
You know, I don't know the logistics. I've always had a bank involved, and they handled that. I'm sure someone here can tell you how to get the ball rolling, though.

olivia

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Re: Housing.
« Reply #53 on: June 21, 2013, 11:26:26 AM »
Don't sign a contract the sellers or their attorney have written without getting an attorney of your own to go over it!

You also need a title search to be sure there are no outstanding liens on the property you don't know about.

Thank you! Do I just call up a real estate attorney?

Yes, you can hire just a real estate attorney.  That's what my brother did when he didn't use a realtor.  He actually saved a ton of money by not using a realtor to sell.  The one good thing about using a realtor when you buy is that the seller covers their costs, at least in my state. 

Good luck-I hope everything works out!

Zoe

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Re: Housing.
« Reply #54 on: June 21, 2013, 01:53:31 PM »
Don't sign a contract the sellers or their attorney have written without getting an attorney of your own to go over it!

You also need a title search to be sure there are no outstanding liens on the property you don't know about.

Thank you! Do I just call up a real estate attorney?

Yes, you can hire just a real estate attorney.  That's what my brother did when he didn't use a realtor.  He actually saved a ton of money by not using a realtor to sell.  The one good thing about using a realtor when you buy is that the seller covers their costs, at least in my state. 

Good luck-I hope everything works out!

Awesome. Thanks! :)

Zoe

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Re: Housing.
« Reply #55 on: June 23, 2013, 01:10:48 PM »
This is getting seriously ridiculous. She will not let us take the contract for an attorney to look it over. She keeps saying it's a standard contract, legally binding. I KNOW IT'S LEGALLY BINDING. THAT'S WHY I WANT AN ATTORNEY TO LOOK IT OVER. But then she tells me that maybe I just want to get the attorney to write a contract. What? She's being extremely snarky about this. I have finally asked a realtor friend to be our buyer's agent. I am so tired of dealing with her. And she was asking for a deposit, but never told me an amount. I have to move some money around to write a check and she hasn't given me any time to do that.

It just feels like they are trying to pull a fast one on a young, unsuspecting couple. I will not be taken advantage of.

FrugalZony

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Re: Housing.
« Reply #56 on: June 23, 2013, 07:56:50 PM »
Glad you are doing the right thing!
I don't think they have a ton of other options
If they are not comfortable with you reviewing the contract without an attorneys advice, what do they have to hide?

Rural

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Re: Housing.
« Reply #57 on: June 24, 2013, 01:37:07 AM »
.

It just feels like they are trying to pull a fast one on a young, unsuspecting couple. I will not be taken advantage of.

They are trying something, that's for sure. Don't let them get away with it!

Zoe

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Re: Housing.
« Reply #58 on: June 24, 2013, 12:04:12 PM »
The ONLY thing I can think of is that they would try to sneak in the contract that it is land only or something crazy like that. Or maybe it's just their ignorance of real estate. Either way. I met with my realtor friend this morning and drew up our own contract. Now I don't have to deal with her anymore and we can get this show on the road the right way! They (there's 3 siblings) have until Sunday to sign it. Plenty of time for all of them.

Zoe

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Re: Housing.
« Reply #59 on: June 28, 2013, 10:28:23 AM »
Still waiting. They do have until Sunday to sign.

FrugalZony

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Re: Housing.
« Reply #60 on: June 28, 2013, 12:21:15 PM »
keeping fingers crossed

Zoe

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Re: Housing.
« Reply #61 on: June 29, 2013, 08:23:41 AM »
Thank you :)

Cinder

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Re: Housing.
« Reply #62 on: July 01, 2013, 07:58:43 AM »
What's the news? How did sunday go?

Zoe

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Re: Housing.
« Reply #63 on: July 01, 2013, 08:06:13 AM »
My agent had to correct her last name (she recently got divorced and went back to her maiden name) but he expects it back today. She contacted him yesterday and asked the best way to get it back to him. So, it sounds as if we have an accepted contract. I will update as soon as I hear for sure!

Zoe

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Re: Housing.
« Reply #64 on: July 02, 2013, 10:05:16 AM »
WE HAVE A SIGNED CONTRACT LADIES AND GENTLEMEN!

And I have a new little black kitty!

I have submitted requests to get utilities turned on for the inspection. That should happen next week.

Rural

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Re: Housing.
« Reply #65 on: July 02, 2013, 12:21:33 PM »
Congratulations!

FrugalZony

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Re: Housing.
« Reply #66 on: July 02, 2013, 12:59:50 PM »
YAY, congrats on both the new house and the new home owner, aka kittie ;)
I love black cats!!

Zoe

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Re: Housing.
« Reply #67 on: July 07, 2013, 11:41:37 AM »
Thanks!!

My folks said they saw power trucks over there yesterday, so I'm assuming the power is on. The water should be on by Monday. BUT, the inspection guy can't get out there until the 15th. And that's the last day of our 15 day inspection period. That's cutting it pretty close since our closing is scheduled for the 19th.

I have been researching and dreaming about the remodeling I want to do :) It is going to be the most awesome looking 1979 trailer you've ever seen :)

Rural

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Re: Housing.
« Reply #68 on: July 07, 2013, 12:06:39 PM »
I think you'd better see if your agent can get the inspection period extended because of the inspection not being possible without power. If they'd wanted to sell quickly, they should have had the power turned on. But same day is not really enough time, especially if you find yourself faced with a tough decision. It would be  entirely reasonable to extend it to 15 days from the date the power was turned on and thus, inspection became possible.

Zoe

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Re: Housing.
« Reply #69 on: July 07, 2013, 03:05:42 PM »
The power and water will be on for a week before the inspection guy can get there. I do hope something falls through so he can get out there sooner than the 15th. And I work evenings so I won't really be able to look through the report until around midnight that night. Even if we extend the inspection period a couple days just so we can review the report and talk with the inspector if there were any huge concerns, I'd be fine with that.

Rural

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Re: Housing.
« Reply #70 on: July 07, 2013, 04:11:21 PM »
All that makes perfect sense from your perspective, but you want to present it in a way that makes so much sense from the seller's perspective that they can't see any good way to refuse. 15 days from the power coming on should make that kind of sense. They didn't keep the power on; the inspection can't be done without power.

Zoe

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Re: Housing.
« Reply #71 on: July 07, 2013, 08:25:49 PM »
True. I'll see what I can do, but we're supposed to close on the 19th.

I am just terrified that they are going to back out if we change the closing date. I don't think they can, but I'm not sure. Gah.

Zoe

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Re: Housing.
« Reply #72 on: July 18, 2013, 09:47:04 AM »
Update:
The inspection went about as I expected. Only one "surprise" really. The breaker box panel needs to be replaced. It's made by a company that was involved in a class action settlement for knowingly selling faulty panels. The inspector showed me a few that don't sit right, and they spark :/ He said it would probably cost $1500-$3000 depending on the electrician. And no, the sellers won't budge on the selling price, nor will they fix this issue. I don't much care. This is the first thing we have to get done. Second, is repairing the plumbing. Most of the sinks are just missing some connections, and the toilets have to be reconnected. No big deal. Third, the a/c doesn't work. Not a huge deal, but the trailer does have aluminum siding and it was a million degrees in there the other day. It was actually cooler outside. Hopefully it only needs a recharge, and not a new unit.

So, any mustachians around the Upstate SC area that can handle the breaker box panel and a/c?

Our closing is scheduled for 3pm tomorrow. Then I will be spending every weekend and probably most days before work over there cleaning it out (most of the original owner's stuff is still there), and cleaning it top to bottom. Then doing the plumbing, etc. We hope to actually move in within a month.

I can't wait to post our monthly spending after we move. I have a mock up one and it is freaking fantastic. Also, there is about to be a supervisor position open at my job. Part time, which is what I am now. I don't want to be full time. I know I am a top candidate at my location, but it might be a company wide posting. Which would suck, but it's an interview position and I know our operation. It's really manager's choice. *Fingers crossed*

Rural

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Re: Housing.
« Reply #73 on: July 18, 2013, 09:29:06 PM »
Fingers crossed on the job!

Just don't move into the trailer without fixing the breaker box!

Zoe

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Re: Housing.
« Reply #74 on: July 19, 2013, 08:55:05 AM »
Thanks!

And yeah, we will get that fixed asap for sure!

Update: There's an issue with the easement. There hasn't been a survey since the 50's and the attorney can't tell where the driveway is. On the tax map, it appears to be on my mom's property. But on the old plat, it appears to be split between my mom's and the neighbors. So, we have to have a survey done to actually determine the easement. And then that has to be filed. Our parcel is technically landlocked I think. My parent's will just have to sign a paper agreeing the use of the easement on their property (if it's 100% on their property). Not a huge deal, just more money upfront with paying for the survey. Our new closing date is on Wednesday now.

Rebecca Stapler

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Re: Housing.
« Reply #75 on: July 19, 2013, 10:06:03 AM »
Thanks!

And yeah, we will get that fixed asap for sure!

Update: There's an issue with the easement. There hasn't been a survey since the 50's and the attorney can't tell where the driveway is. On the tax map, it appears to be on my mom's property. But on the old plat, it appears to be split between my mom's and the neighbors. So, we have to have a survey done to actually determine the easement. And then that has to be filed. Our parcel is technically landlocked I think. My parent's will just have to sign a paper agreeing the use of the easement on their property (if it's 100% on their property). Not a huge deal, just more money upfront with paying for the survey. Our new closing date is on Wednesday now.

Is there any way to negotiate down your purchase price because you're not actually getting what they sold you? (e.g., you're not getting the driveway -- just a right of use, which can be revoked for the next owner; thus, reducing the value of the land) Your attorney would know the answer to this.

Zoe

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Re: Housing.
« Reply #76 on: July 19, 2013, 10:13:52 AM »
Thanks!

And yeah, we will get that fixed asap for sure!

Update: There's an issue with the easement. There hasn't been a survey since the 50's and the attorney can't tell where the driveway is. On the tax map, it appears to be on my mom's property. But on the old plat, it appears to be split between my mom's and the neighbors. So, we have to have a survey done to actually determine the easement. And then that has to be filed. Our parcel is technically landlocked I think. My parent's will just have to sign a paper agreeing the use of the easement on their property (if it's 100% on their property). Not a huge deal, just more money upfront with paying for the survey. Our new closing date is on Wednesday now.

Is there any way to negotiate down your purchase price because you're not actually getting what they sold you? (e.g., you're not getting the driveway -- just a right of use, which can be revoked for the next owner; thus, reducing the value of the land) Your attorney would know the answer to this.

I wish. They absolutely will not budge on the price, at all. Even with the breaker box having to be replaced (an expense that may cost us up to $3K) asap, they wouldn't even come down $1K. My husband and I were thinking that maybe my parent's could sell us the portion of their land that has the driveway on it. That way there are no problems later on down the road.
From what I understood talking to the attorney yesterday, after he files the right of easement, then it's a legal thing. As long as it's filed then it's legal. Now, he said he WOULD close the deal without us having a new survey and all that, but we wouldn't have title insurance, and of course, the easement issue would come up when either we sold our property, or my parent's sold theirs.

Rebecca Stapler

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Re: Housing.
« Reply #77 on: July 19, 2013, 11:24:11 AM »
Thanks!

And yeah, we will get that fixed asap for sure!

Update: There's an issue with the easement. There hasn't been a survey since the 50's and the attorney can't tell where the driveway is. On the tax map, it appears to be on my mom's property. But on the old plat, it appears to be split between my mom's and the neighbors. So, we have to have a survey done to actually determine the easement. And then that has to be filed. Our parcel is technically landlocked I think. My parent's will just have to sign a paper agreeing the use of the easement on their property (if it's 100% on their property). Not a huge deal, just more money upfront with paying for the survey. Our new closing date is on Wednesday now.

Is there any way to negotiate down your purchase price because you're not actually getting what they sold you? (e.g., you're not getting the driveway -- just a right of use, which can be revoked for the next owner; thus, reducing the value of the land) Your attorney would know the answer to this.

I wish. They absolutely will not budge on the price, at all. Even with the breaker box having to be replaced (an expense that may cost us up to $3K) asap, they wouldn't even come down $1K. My husband and I were thinking that maybe my parent's could sell us the portion of their land that has the driveway on it. That way there are no problems later on down the road.
From what I understood talking to the attorney yesterday, after he files the right of easement, then it's a legal thing. As long as it's filed then it's legal. Now, he said he WOULD close the deal without us having a new survey and all that, but we wouldn't have title insurance, and of course, the easement issue would come up when either we sold our property, or my parent's sold theirs.

You definitely don't want a cloud on your title so big that you couldn't get title insurance. When he says the easement will be legal, does he mean that your parents couldn't ever revoke it?

I just wonder if you're buying something you're going to regret later -- with the breaker issue and the easement, it just seems like the value of the purchase is getting further and further away from what you're paying for it. Of course they don't want to come down on the price, but you don't want to pay more than what it's worth.

Rural

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Re: Housing.
« Reply #78 on: July 19, 2013, 06:57:35 PM »
Thanks!

And yeah, we will get that fixed asap for sure!

Update: There's an issue with the easement. There hasn't been a survey since the 50's and the attorney can't tell where the driveway is. On the tax map, it appears to be on my mom's property. But on the old plat, it appears to be split between my mom's and the neighbors. So, we have to have a survey done to actually determine the easement. And then that has to be filed. Our parcel is technically landlocked I think. My parent's will just have to sign a paper agreeing the use of the easement on their property (if it's 100% on their property). Not a huge deal, just more money upfront with paying for the survey. Our new closing date is on Wednesday now.

Is there any way to negotiate down your purchase price because you're not actually getting what they sold you? (e.g., you're not getting the driveway -- just a right of use, which can be revoked for the next owner; thus, reducing the value of the land) Your attorney would know the answer to this.

I wish. They absolutely will not budge on the price, at all. Even with the breaker box having to be replaced (an expense that may cost us up to $3K) asap, they wouldn't even come down $1K. My husband and I were thinking that maybe my parent's could sell us the portion of their land that has the driveway on it. That way there are no problems later on down the road.
From what I understood talking to the attorney yesterday, after he files the right of easement, then it's a legal thing. As long as it's filed then it's legal. Now, he said he WOULD close the deal without us having a new survey and all that, but we wouldn't have title insurance, and of course, the easement issue would come up when either we sold our property, or my parent's sold theirs.

You definitely don't want a cloud on your title so big that you couldn't get title insurance. When he says the easement will be legal, does he mean that your parents couldn't ever revoke it?

I just wonder if you're buying something you're going to regret later -- with the breaker issue and the easement, it just seems like the value of the purchase is getting further and further away from what you're paying for it. Of course they don't want to come down on the price, but you don't want to pay more than what it's worth.

Ditto this. Furthermore, they absolutely can't sell it to anyone else if its landlocked. They know that; they're hoping you don't know it. Can you stand to wait them out for a couple of months? If you can, they will come down; landlocked by your parents' land, it's worthless to anyone but you.

TrulyStashin

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Re: Housing.
« Reply #79 on: July 19, 2013, 09:53:20 PM »
Thanks!

And yeah, we will get that fixed asap for sure!

Update: There's an issue with the easement. There hasn't been a survey since the 50's and the attorney can't tell where the driveway is. On the tax map, it appears to be on my mom's property. But on the old plat, it appears to be split between my mom's and the neighbors. So, we have to have a survey done to actually determine the easement. And then that has to be filed. Our parcel is technically landlocked I think. My parent's will just have to sign a paper agreeing the use of the easement on their property (if it's 100% on their property). Not a huge deal, just more money upfront with paying for the survey. Our new closing date is on Wednesday now.

Is there any way to negotiate down your purchase price because you're not actually getting what they sold you? (e.g., you're not getting the driveway -- just a right of use, which can be revoked for the next owner; thus, reducing the value of the land) Your attorney would know the answer to this.

I wish. They absolutely will not budge on the price, at all. Even with the breaker box having to be replaced (an expense that may cost us up to $3K) asap, they wouldn't even come down $1K. My husband and I were thinking that maybe my parent's could sell us the portion of their land that has the driveway on it. That way there are no problems later on down the road.
From what I understood talking to the attorney yesterday, after he files the right of easement, then it's a legal thing. As long as it's filed then it's legal. Now, he said he WOULD close the deal without us having a new survey and all that, but we wouldn't have title insurance, and of course, the easement issue would come up when either we sold our property, or my parent's sold theirs.

You definitely don't want a cloud on your title so big that you couldn't get title insurance. When he says the easement will be legal, does he mean that your parents couldn't ever revoke it?

I just wonder if you're buying something you're going to regret later -- with the breaker issue and the easement, it just seems like the value of the purchase is getting further and further away from what you're paying for it. Of course they don't want to come down on the price, but you don't want to pay more than what it's worth.

Ditto this. Furthermore, they absolutely can't sell it to anyone else if its landlocked. They know that; they're hoping you don't know it. Can you stand to wait them out for a couple of months? If you can, they will come down; landlocked by your parents' land, it's worthless to anyone but you.

This is absolutely true.  The sellers do not have "marketable title" and cannot sell this property unless they fix the easement issue.  Play hardball and tell them to shove it -- not having marketable title voids the contract.   Name your price at $10k and walk away when they say no.  They'll call you, I can almost guarantee it, and if by some chance they don't then you've avoided trying to fix an enormous headache of legal and practical problems.   Be strong.  You hold all the cards and they have nothing but a liability -- costing them in upkeep and taxes.

FrugalZony

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Re: Housing.
« Reply #80 on: July 19, 2013, 11:01:03 PM »
Thanks!

And yeah, we will get that fixed asap for sure!

Update: There's an issue with the easement. There hasn't been a survey since the 50's and the attorney can't tell where the driveway is. On the tax map, it appears to be on my mom's property. But on the old plat, it appears to be split between my mom's and the neighbors. So, we have to have a survey done to actually determine the easement. And then that has to be filed. Our parcel is technically landlocked I think. My parent's will just have to sign a paper agreeing the use of the easement on their property (if it's 100% on their property). Not a huge deal, just more money upfront with paying for the survey. Our new closing date is on Wednesday now.

Is there any way to negotiate down your purchase price because you're not actually getting what they sold you? (e.g., you're not getting the driveway -- just a right of use, which can be revoked for the next owner; thus, reducing the value of the land) Your attorney would know the answer to this.

I wish. They absolutely will not budge on the price, at all. Even with the breaker box having to be replaced (an expense that may cost us up to $3K) asap, they wouldn't even come down $1K. My husband and I were thinking that maybe my parent's could sell us the portion of their land that has the driveway on it. That way there are no problems later on down the road.
From what I understood talking to the attorney yesterday, after he files the right of easement, then it's a legal thing. As long as it's filed then it's legal. Now, he said he WOULD close the deal without us having a new survey and all that, but we wouldn't have title insurance, and of course, the easement issue would come up when either we sold our property, or my parent's sold theirs.

You definitely don't want a cloud on your title so big that you couldn't get title insurance. When he says the easement will be legal, does he mean that your parents couldn't ever revoke it?

I just wonder if you're buying something you're going to regret later -- with the breaker issue and the easement, it just seems like the value of the purchase is getting further and further away from what you're paying for it. Of course they don't want to come down on the price, but you don't want to pay more than what it's worth.

Ditto this. Furthermore, they absolutely can't sell it to anyone else if its landlocked. They know that; they're hoping you don't know it. Can you stand to wait them out for a couple of months? If you can, they will come down; landlocked by your parents' land, it's worthless to anyone but you.

This is absolutely true.  The sellers do not have "marketable title" and cannot sell this property unless they fix the easement issue.  Play hardball and tell them to shove it -- not having marketable title voids the contract.   Name your price at $10k and walk away when they say no.  They'll call you, I can almost guarantee it, and if by some chance they don't then you've avoided trying to fix an enormous headache of legal and practical problems.   Be strong.  You hold all the cards and they have nothing but a liability -- costing them in upkeep and taxes.

+1 I was thinking the same thing!
Really what other options do they have!
I know you want this bad and are under time pressure. But 4000-5000$ are probably worth the wait.
Tell them, this is all too much and way more than you thought.
You'd be willing to offer 16 k and would take care of all the legal stuff on top of that and save them the hassle
Tell them, that there is enough space on your parents property so you can put a trailer there
let them mull over it for a couple of weeks and then see what happens....

Zoe

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Re: Housing.
« Reply #81 on: July 20, 2013, 07:46:16 AM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

Rural

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Re: Housing.
« Reply #82 on: July 20, 2013, 07:52:38 AM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

You know for sure about the gas, but utilities? Those are likely to be high when the weather is bad. No one is suggesting you don't buy the place. It looks from here, though, like you could buy the place a little later for a lot less. Ultimately, you have to decide, and it may be worth it to you to spend the $20k, but friendly Internet outsiders think you don't have to. :)

Let us know, and good luck either way!

Zoe

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Re: Housing.
« Reply #83 on: July 20, 2013, 09:13:33 AM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

You know for sure about the gas, but utilities? Those are likely to be high when the weather is bad. No one is suggesting you don't buy the place. It looks from here, though, like you could buy the place a little later for a lot less. Ultimately, you have to decide, and it may be worth it to you to spend the $20k, but friendly Internet outsiders think you don't have to. :)

Let us know, and good luck either way!

Current house is 2100ish sq ft. Average utilities (water, sewer, electric, and gas) run around $255 (we actually pay $349 b/c we are on the equal payment plan for electric but are running a $600 credit. We actually use about $100-$125 per month).
Trailer is less than 1,000sq ft. We will have water and electric out there. No sewer or gas. I'm figuring that the water will be like $25 or so (our current bill is only about $17 just for water. The rest is sewer and reclamation charges), and I know electric will be kind of a wild card since I'm not sure how well the trailer is insulated, but I'm figuring $50-$75 depending on that. Possibly a bit higher in the winter, but it does have a fireplace which would supplement the electric.

I know y'all are just trying to help :) I wish the seller's were a little more reasonable. I already told my attorney to get the survey in motion. But, that really should be the seller's cost. I'm going to talk to my agent and see if he will push them for that.

BPA

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Re: Housing.
« Reply #84 on: July 20, 2013, 11:39:13 AM »
So, how are things going?

And I'll bet anything that the 17 year old is just parenting what he hears his parents say.

He'll have his turn to be aggravated when they meddle in his life.  :)

Edit:  Didn't realize this is a two page thread.  Duh.  I'll blame it on cycling brain.  Carry on.  ;)
« Last Edit: July 20, 2013, 11:40:45 AM by BPA »

Rural

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Re: Housing.
« Reply #85 on: July 20, 2013, 01:25:24 PM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

You know for sure about the gas, but utilities? Those are likely to be high when the weather is bad. No one is suggesting you don't buy the place. It looks from here, though, like you could buy the place a little later for a lot less. Ultimately, you have to decide, and it may be worth it to you to spend the $20k, but friendly Internet outsiders think you don't have to. :)

Let us know, and good luck either way!

Current house is 2100ish sq ft. Average utilities (water, sewer, electric, and gas) run around $255 (we actually pay $349 b/c we are on the equal payment plan for electric but are running a $600 credit. We actually use about $100-$125 per month).
Trailer is less than 1,000sq ft. We will have water and electric out there. No sewer or gas. I'm figuring that the water will be like $25 or so (our current bill is only about $17 just for water. The rest is sewer and reclamation charges), and I know electric will be kind of a wild card since I'm not sure how well the trailer is insulated, but I'm figuring $50-$75 depending on that. Possibly a bit higher in the winter, but it does have a fireplace which would supplement the electric.

I know y'all are just trying to help :) I wish the seller's were a little more reasonable. I already told my attorney to get the survey in motion. But, that really should be the seller's cost. I'm going to talk to my agent and see if he will push them for that.

For heating without a fireplace in our old 12X60, we were at ~$150-200 a month at 8 cents per kwh. The place had once been poorly insulated but mostly wasn't anymore if that helps. AC ran $200 in July and August, partly because there was no shade at all on the roof. We could have cut that down more with higher temps, but probably not below $100 a month while preventing mold and heatstroke. But it was older than your place (1971) and likely had less insulation to begin with, and had probably had more leaks (which ruin insulation if it gets wet).

If you have better insulation and shade, your figures are probably valid. Anyway, best of luck regardless of what you decide. I know it's all an enormous PITA right now, but remember it's temporary.

Rebecca Stapler

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Re: Housing.
« Reply #86 on: July 20, 2013, 07:42:22 PM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

I *am* just trying to help, not be a jerk about it! Honestly, when I was offered my current job, some random internet strangers told me to negotiate my salary on my last job and I was scared sh!tless to do it, but it worked out.

That said, saving $200/mo on utilities will take a year to cover $2400 of the cost of the breaker box (I estimate on the high side until all is said and done). So, sweating it out on a nego, or cancelling the contract and coming back to the table in 3 months when they have no buyers is probably going to end up with a better deal for you -- you would be paying $600 in utilities over the 3 months, and hopefully saving $5k off the purchase price.

Zoe

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Re: Housing.
« Reply #87 on: July 21, 2013, 07:20:20 AM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

I *am* just trying to help, not be a jerk about it! Honestly, when I was offered my current job, some random internet strangers told me to negotiate my salary on my last job and I was scared sh!tless to do it, but it worked out.

That said, saving $200/mo on utilities will take a year to cover $2400 of the cost of the breaker box (I estimate on the high side until all is said and done). So, sweating it out on a nego, or cancelling the contract and coming back to the table in 3 months when they have no buyers is probably going to end up with a better deal for you -- you would be paying $600 in utilities over the 3 months, and hopefully saving $5k off the purchase price.

I know you are! :) I'm also just scared shitless that they will get another buyer and we'll be shit out of luck. I did ask my realtor to see if he can get a copy of the appraisal. I cannot believe that the appraiser appraised that property at "just below $25K". If I'm going to cancel the contract though, I have to do it asap before the surveyor gets out there. And then we're still on the hook for the inspections ($435).

They don't have a realtor, which I think is what is screwing this whole deal. They are unrealistic. We're emotionally involved, they know that. My realtor said we could probably still back out b/c of the whole easement issue.

BPA

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Re: Housing.
« Reply #88 on: July 21, 2013, 08:53:43 AM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

I *am* just trying to help, not be a jerk about it! Honestly, when I was offered my current job, some random internet strangers told me to negotiate my salary on my last job and I was scared sh!tless to do it, but it worked out.

That said, saving $200/mo on utilities will take a year to cover $2400 of the cost of the breaker box (I estimate on the high side until all is said and done). So, sweating it out on a nego, or cancelling the contract and coming back to the table in 3 months when they have no buyers is probably going to end up with a better deal for you -- you would be paying $600 in utilities over the 3 months, and hopefully saving $5k off the purchase price.

I know you are! :) I'm also just scared shitless that they will get another buyer and we'll be shit out of luck. I did ask my realtor to see if he can get a copy of the appraisal. I cannot believe that the appraiser appraised that property at "just below $25K". If I'm going to cancel the contract though, I have to do it asap before the surveyor gets out there. And then we're still on the hook for the inspections ($435).

They don't have a realtor, which I think is what is screwing this whole deal. They are unrealistic. We're emotionally involved, they know that. My realtor said we could probably still back out b/c of the whole easement issue.

Oh no.  It's your life and I don't want to tell you what to do, but you didn't actually see the appraisal, you were going by their word?  And it's landlocked?

I have to be honest:  you are getting screwed.  If it were me, I'd be revoking all offers and looking for another place.  Who knows what else is going to crop up?

Zoe

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Re: Housing.
« Reply #89 on: July 21, 2013, 09:05:37 AM »
Quick reply to y'all since I just woke up.

They know about the easement issue. It came up earlier this year when it was in probate. All I need is a survey ($400-$500) and my attorney said he would wave their filing fee ($200). I realize expenses keep piling up with this, the breaker box etc. Do I think the property is still worth $20K? Taking out the emotional aspect of it...maybe, on the very top end. But that's just it. We nearly can't afford to not purchase this property. We are going to save at least $200 month on gas alone (yeah, we spend $400 now) along with the extremely reduced utilities, and not to mention smaller house for us to keep clean. I wish we were in a better negotiating position.

I *am* just trying to help, not be a jerk about it! Honestly, when I was offered my current job, some random internet strangers told me to negotiate my salary on my last job and I was scared sh!tless to do it, but it worked out.

That said, saving $200/mo on utilities will take a year to cover $2400 of the cost of the breaker box (I estimate on the high side until all is said and done). So, sweating it out on a nego, or cancelling the contract and coming back to the table in 3 months when they have no buyers is probably going to end up with a better deal for you -- you would be paying $600 in utilities over the 3 months, and hopefully saving $5k off the purchase price.

I know you are! :) I'm also just scared shitless that they will get another buyer and we'll be shit out of luck. I did ask my realtor to see if he can get a copy of the appraisal. I cannot believe that the appraiser appraised that property at "just below $25K". If I'm going to cancel the contract though, I have to do it asap before the surveyor gets out there. And then we're still on the hook for the inspections ($435).

They don't have a realtor, which I think is what is screwing this whole deal. They are unrealistic. We're emotionally involved, they know that. My realtor said we could probably still back out b/c of the whole easement issue.

Oh no.  It's your life and I don't want to tell you what to do, but you didn't actually see the appraisal, you were going by their word?  And it's landlocked?

I have to be honest:  you are getting screwed.  If it were me, I'd be revoking all offers and looking for another place.  Who knows what else is going to crop up?

I have this character flaw of actually trusting people. Bleh. I think I am going to demand we see the appraisal.
The main reason we are going after this property is b/c it's right beside my parent's place. With mine and my husband's work schedules, it is extremely convenient for child care. Currently there is nothing else for sale, or even for rent at a reasonable price, close to there.

OzzieandHarriet

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Re: Housing.
« Reply #90 on: July 21, 2013, 09:21:15 AM »
I would get out of this deal unless they come down on the price to cover the problems you have uncovered (breaker box, no A/C) AND pay for the costs of fixing the easement issue. Stick to your guns and don't get emotionally attached. Otherwise, it sounds like you would be stuck with an unsellable and possibly unliveable property. It's much, much easier to buy something than to sell it. Don't get fixated on what you've spent thus far -- sunk cost, learning experience.

How many more years are you going to need your parents to babysit? Is it worth it to saddle yourself with a white elephant for what is basically a short-term situation?

Zoe

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Re: Housing.
« Reply #91 on: July 21, 2013, 09:29:44 AM »
I would get out of this deal unless they come down on the price to cover the problems you have uncovered (breaker box, no A/C) AND pay for the costs of fixing the easement issue. Stick to your guns and don't get emotionally attached. Otherwise, it sounds like you would be stuck with an unsellable and possibly unliveable property. It's much, much easier to buy something than to sell it. Don't get fixated on what you've spent thus far -- sunk cost, learning experience.

How many more years are you going to need your parents to babysit? Is it worth it to saddle yourself with a white elephant for what is basically a short-term situation?

I think that's the way I'm leaning. I just emailed my realtor and told him that.
He just replied back to me that they don't have to give us a copy of the appraisal. If they don't and we want to know the appraisal price, we would have to pay for it. I am not paying for an appraisal on top of the survey, major repairs, inflated purchase price, etc.

The babysitting question can go many ways. I'm not sure we're going to use the public school system, but I haven't decided. He'll be 2 in October, so we still have a couple of years. My husband's schedule and mine overlap many times per month, but not daily.

OzzieandHarriet

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Re: Housing.
« Reply #92 on: July 21, 2013, 09:35:34 AM »
I would get out of this deal unless they come down on the price to cover the problems you have uncovered (breaker box, no A/C) AND pay for the costs of fixing the easement issue. Stick to your guns and don't get emotionally attached. Otherwise, it sounds like you would be stuck with an unsellable and possibly unliveable property. It's much, much easier to buy something than to sell it. Don't get fixated on what you've spent thus far -- sunk cost, learning experience.

How many more years are you going to need your parents to babysit? Is it worth it to saddle yourself with a white elephant for what is basically a short-term situation?

I think that's the way I'm leaning. I just emailed my realtor and told him that.
He just replied back to me that they don't have to give us a copy of the appraisal. If they don't and we want to know the appraisal price, we would have to pay for it. I am not paying for an appraisal on top of the survey, major repairs, inflated purchase price, etc.

The babysitting question can go many ways. I'm not sure we're going to use the public school system, but I haven't decided. He'll be 2 in October, so we still have a couple of years. My husband's schedule and mine overlap many times per month, but not daily.

Generally it's the buyer who gets an appraisal because it's required if you're taking out a mortgage. I must have missed why the sellers here felt the need to get an appraisal.

Zoe

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Re: Housing.
« Reply #93 on: July 21, 2013, 09:38:40 AM »
I would get out of this deal unless they come down on the price to cover the problems you have uncovered (breaker box, no A/C) AND pay for the costs of fixing the easement issue. Stick to your guns and don't get emotionally attached. Otherwise, it sounds like you would be stuck with an unsellable and possibly unliveable property. It's much, much easier to buy something than to sell it. Don't get fixated on what you've spent thus far -- sunk cost, learning experience.

How many more years are you going to need your parents to babysit? Is it worth it to saddle yourself with a white elephant for what is basically a short-term situation?

I think that's the way I'm leaning. I just emailed my realtor and told him that.
He just replied back to me that they don't have to give us a copy of the appraisal. If they don't and we want to know the appraisal price, we would have to pay for it. I am not paying for an appraisal on top of the survey, major repairs, inflated purchase price, etc.

The babysitting question can go many ways. I'm not sure we're going to use the public school system, but I haven't decided. He'll be 2 in October, so we still have a couple of years. My husband's schedule and mine overlap many times per month, but not daily.

Generally it's the buyer who gets an appraisal because it's required if you're taking out a mortgage. I must have missed why the sellers here felt the need to get an appraisal.

Yeah, I know that, but it just pisses me off that they are being assholes. I haven't even posted some of the ridiculous stuff they've said/done. They got an appraisal to know what it was worth. It was their parent's property, and they passed.

TrulyStashin

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Re: Housing.
« Reply #94 on: July 21, 2013, 09:51:26 AM »
Real estate lawyer talking here . . .  if you decide to back out, the reason you should cite is "the title is not marketable."  This legal flaw caused by the easement issue voids the contract -- it is the most basic requirement of any seller of real property.  They have breached the contract, not you, so don't buy any argument that this is on you.

I'm sorry this hasn't worked out the way you hoped.  It truly would not surprise me, however, if you heard from them in a few months after they've been unable to fix the easement problem and sell it.  It's truly an albatross for them and reality will set in soon enough.

Zoe

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Re: Housing.
« Reply #95 on: July 21, 2013, 10:02:19 AM »
Real estate lawyer talking here . . .  if you decide to back out, the reason you should cite is "the title is not marketable."  This legal flaw caused by the easement issue voids the contract -- it is the most basic requirement of any seller of real property.  They have breached the contract, not you, so don't buy any argument that this is on you.

I'm sorry this hasn't worked out the way you hoped.  It truly would not surprise me, however, if you heard from them in a few months after they've been unable to fix the easement problem and sell it.  It's truly an albatross for them and reality will set in soon enough.

Thank you :) I just got off the phone with my realtor and that was the phrase he used for us to back out, if they will not come off the price.

If they won't, then fine. They can't sell it w/o the easement issue fixed, and they won't get their $20K asking price either. I told him we'd wait a few months and then try again after they realize they can't sell it.

My parents could technically put up a gate on that driveway since it's on their property and not allow access.

Time to play hardball. I'm nearly 30 but look like I'm not quite out of my early 20's, and my husband is mid 20's and looks like he's early 20's too, so I'm sure they think we're stupid.

Rebecca Stapler

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Re: Housing.
« Reply #96 on: July 22, 2013, 07:26:58 AM »
Thank you :) I just got off the phone with my realtor and that was the phrase he used for us to back out, if they will not come off the price.

If they won't, then fine. They can't sell it w/o the easement issue fixed, and they won't get their $20K asking price either. I told him we'd wait a few months and then try again after they realize they can't sell it.

My parents could technically put up a gate on that driveway since it's on their property and not allow access.

Time to play hardball. I'm nearly 30 but look like I'm not quite out of my early 20's, and my husband is mid 20's and looks like he's early 20's too, so I'm sure they think we're stupid.

Good for you!

I walked away from a real estate contract, after shelling out $450. You know what? It was The Best $450 I Have Ever Spent. It saved us years of headaches and lost $$. I know it's hard to pull back from your dreams of how things are going to be after you move in, but it's important to keep the big picture in mind.

Which leads me to the question: If you wouldn't put your child in the public schools in that district, are there any school districts you would put him in? If so, are you planning to move in 3 years?

Zoe

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Re: Housing.
« Reply #97 on: July 22, 2013, 07:49:24 AM »
Thank you :) I just got off the phone with my realtor and that was the phrase he used for us to back out, if they will not come off the price.

If they won't, then fine. They can't sell it w/o the easement issue fixed, and they won't get their $20K asking price either. I told him we'd wait a few months and then try again after they realize they can't sell it.

My parents could technically put up a gate on that driveway since it's on their property and not allow access.

Time to play hardball. I'm nearly 30 but look like I'm not quite out of my early 20's, and my husband is mid 20's and looks like he's early 20's too, so I'm sure they think we're stupid.

Good for you!

I walked away from a real estate contract, after shelling out $450. You know what? It was The Best $450 I Have Ever Spent. It saved us years of headaches and lost $$. I know it's hard to pull back from your dreams of how things are going to be after you move in, but it's important to keep the big picture in mind.

Which leads me to the question: If you wouldn't put your child in the public schools in that district, are there any school districts you would put him in? If so, are you planning to move in 3 years?

It's too bad you can't see the future sometimes :)

I'm contemplating homeschooling, but I need to look at how involved that is and whatnot. The public school system is getting pretty ridiculous, but I'm also thinking about that K-12 online public school. I'm one for rules, but the rules that have come out around here in the last several years are just beyond ridiculous.

MissStache

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Re: Housing.
« Reply #98 on: July 22, 2013, 09:07:35 AM »
Oh man, I just stumbled on this thread and I am chewing my fingernails with anticipation- better than a novel :)

Can't wait to hear what happens!

(For the record, I hope our plucky heroine defeats the evil greedy siblings who are trying to trick her and they come crawling back in 2 months begging her to take the castle off their hands for $13K...And I hope her parents put up a gate!)

Redbeard

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Re: Housing.
« Reply #99 on: July 22, 2013, 09:31:22 AM »
Real estate lawyer talking here . . .  if you decide to back out, the reason you should cite is "the title is not marketable."  This legal flaw caused by the easement issue voids the contract -- it is the most basic requirement of any seller of real property.  They have breached the contract, not you, so don't buy any argument that this is on you.

I'm sorry this hasn't worked out the way you hoped.  It truly would not surprise me, however, if you heard from them in a few months after they've been unable to fix the easement problem and sell it.  It's truly an albatross for them and reality will set in soon enough.

Thank you :) I just got off the phone with my realtor and that was the phrase he used for us to back out, if they will not come off the price.

If they won't, then fine. They can't sell it w/o the easement issue fixed, and they won't get their $20K asking price either. I told him we'd wait a few months and then try again after they realize they can't sell it.

My parents could technically put up a gate on that driveway since it's on their property and not allow access.

Time to play hardball. I'm nearly 30 but look like I'm not quite out of my early 20's, and my husband is mid 20's and looks like he's early 20's too, so I'm sure they think we're stupid.

Great job by you to walk away, even if you don't end up being able to purchase the place later. Separating your emotions from the facts can be extremely difficult, and real estate decisions have long-lasting effects. Also, great job by "friendly internet strangers" to point out things that might have been overlooked and give balanced perspectives. Best. Forums. Ever.